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Trading With Crowd Psychology (Wiley Trading) Hardcover – October 30, 2000


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Product Details

  • Series: Wiley Trading (Book 93)
  • Hardcover: 272 pages
  • Publisher: Wiley; 1 edition (October 30, 2000)
  • Language: English
  • ISBN-10: 0471387746
  • ISBN-13: 978-0471387749
  • Product Dimensions: 6.3 x 0.9 x 9.4 inches
  • Shipping Weight: 1.2 pounds
  • Average Customer Review: 3.1 out of 5 stars  See all reviews (10 customer reviews)
  • Amazon Best Sellers Rank: #1,045,585 in Books (See Top 100 in Books)

Editorial Reviews

Review

Gyllenram untersucht das Kaufverhalten von Anlegern verschiedener Weltmdrkte. Der Psychologe gibt Tipps, wie Anleger Fehler bei Investitionen vermeiden kvnnen. Financial Times Deutschland 17.01.2001

Review

"Investing is first and foremost a psychological process and good market technicians are really psychologists. Mr.Gyllenram understands this and his book offers deep insight into the psychology of the trading range, the area from which big moves-up and down-emerge."
--John Bollinger, CFA, CMT, President www.EquityTrader.com

"Every trader and investor will recognize themselves and their habits (good and bad) among the characters whose trading decisions are so vividly described in this book, and all should discover ways of improving those trading decisions. A very timely publication."
--Michael Smyrk, Global Coordinator, International Federation of Technical Analysts

"Carl Gyllenram takes a new approach in looking at the workings and importance of crowd psychology in the financial markets...(he) shows a clear understanding of the subject, providing a thoroughly useful addition to the writings on crowd psychology."
--Anne Whitby, FSTA, Vice Chairman, Society of Technical Analysts UK

"We are an emotional species and seldom more so than when dealing with money. It is this raw human factor which creates most of the volatility in all financial and commodity markets, not economics...With this book Carl Gyllenram has made an important contribution to the subject of Behavioral Technical Analysis."
--David Fuller, Global Strategist at Stockcube Research Ltd. and writer of the Fullermoney investment letter


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Customer Reviews

3.1 out of 5 stars
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Most Helpful Customer Reviews

4 of 4 people found the following review helpful By Charlotte on December 3, 2001
Format: Hardcover
This is really a good book if you want to understand market psychology. The author makes a very thorough attempt to explain why and when crowd psychology arises in the market place. I would say that the work is pioneering. A lot of other books talks about psychology and that it is important, but this book really explains to you how it works. The author uses several fictious characters to describe how individuals are transformed in to a crowd and this is fascinating reading. If you want strict advice how to trade this may not be the right book for you, but if you realize that understanding crowd psychology will help you to be a better trader you should absolutely read this book.
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11 of 14 people found the following review helpful By A Customer on February 1, 2001
Format: Hardcover
the psychology of trading is an extremely important subject. the author however attempts to explain certain occurences of trading range breakouts using fictional characters and situations, resulting in a book that is slow and repetitive, and has little practical value for the active investor. the author could have quite easily summarised his thoughts in a short magazine article, rather than a 250 page....
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7 of 9 people found the following review helpful By bok on June 6, 2002
Format: Hardcover
the title of this book should read: 'the mindset of shareholders in a range bound stock'; in his conclusion, the author wrote,"using an understanding of crowd psychology to enchance trading is actually the subject for a whole new book". so this book is actually for absolute biginners in the stock market who has no knowledge of technical analysis or its basis. it's a waste of time for anyone who has just a little of insight into trading. the entire book can be found in one section of a good technical analysis book, just look up 'triangles', rectangles, or range bound trading. and their breakouts. the author just describes the thinking behind various individuals in these situations, with much repetitions. it's a wonder i read til the end. the author did recommend some books in the second last page for 'better reading' though. 2 stars for his honesty and stated objectives.
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2 of 2 people found the following review helpful By Tradingmarkets.com on April 15, 2003
Format: Hardcover
Market participants are often emotional and irrational in their decision-making -- much like any crowd. In fact, to understand crowd psychology is to better understand the financial markets.
So says Carl Gyllenram, author of "Trading With Crowd Psychology," a book that claims market analysis is more behavioral science than anything else. While allowing that economic information and fundamental changes produce major market shifts, he believes that the conformist (and predictable) behavior of market participants -- the crowd -- is what usually drives price action.
Some traders and investors react late to changes in the market because they rely solely on fundamental and economic information available to everyone else. Others may use use technical analysis -- but end up trading off of conflicting indicators and/or stereotyped chart patterns.
Chart patterns are "people patterns," says Gyllenram, reflecting the behavior of everyone buying and selling in the markets. A successful technician understands the psychological dynamic (hesitancy? panic? resignation?) at play within these patterns, most all of which, he maintains, are simply variations of a trading range. Markets most often move laterally, with little significant price movement up or down.
An intuitive feel for market psychology helps the trader or investor understand how these trading ranges are structured.
Of particular interest to me were "balance points" -- those price levels at or near the top and bottom of a trading range that serve to predict a powerful price breakout. "You can never be sure," he says, "when a range will be broken or what direction a breakout will take.
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2 of 2 people found the following review helpful By John Taylor on January 5, 2002
Format: Hardcover
This book really gave me a new perspective on the stock market. I wanted to understand why prices move up and down the way they do in the market and in other books I haven't got that knowledge. In this book however I found what I have sought after for a long time ; a explanation how people act in the market place and how their emotions affect their trading and therefore prices. For somebody like me, that really wants to understand market psychology this book was very valuable reading. If you are not intrested in psychology and instead are looking for new indicators this is the wrong book. But, if you have a desire to really understand crowd psychology in the stock market this is absolutely a book to read.
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