Do you have a Top 5 list of recommended Trading Psychology books?
September 11, 2008
Here’s another entry from my email inbox.
Mr. Forman,
Thank you for your kind email, but more than anything for sharing your thoughts on the Rhody Trader blog as well as the Essentials of Trading blog.
My question to you is this: Do you have a Top 5 list of recommended Trading Psychology books?
I currently have read:
- Steenbarger’s Enhancing Trader Performance (my review). (Excellent–prefer over Psychology of Trading)
- Van Tharp’s Trade Your Way to Financial Freedom.
- Curtis Faith’s Way of the Turtle (my review)
- Jack Swager’s Market Wizards collection.
- Rick Bookstabber’s Demons of Our Own Design (Risk Management and Position Sizing at major IBs — recommended for “insider” view.)
I’m currently new to trading, 26-year-old college graduate. Starting with a small $10,000 account as well as using the MTPredictor software (built-in position sizing, positive expectancy, Elliott Wave approach) to trading the 4 E-mini futures.
I’m an avid reader of your blog. Many posts proved greatly beneficial to my continuing education. Please keep up the excellent job!!
Best regards,
Federico
I think Federico’s list is an excellent one. I haven’t read the Bookstabber’s title (though I’ll probably put it on my to-read list), but all the others are ones I strongly recommend.
Another author a great many people recommend is Mark Douglas, who authored Trading in the Zone. And there’s also Ari Kiev who wrote Trading to Win.
Struggling with support & resistance and knowing what the key market levels are? Check out the Price Distribution Analysis methods I use.
WOW! What a nice surprise I got this morning reading through your blog. I’m honored you consider my reading list a worthy one for other traders to emulate…
Hello fellow traders
Now seriously the post above is ok but it needs some spice!
You are right about those books, however I think your order is chaotic and needs some sence
Firstly do yourself a favour and read Trading in the zone. Its really all you need unless you have just got home from iraq or are otherwise in need of a deeper psycho service! Dont joke theose chaps have nbeen through hell.
Second read Dr Bretts blog each day. His newbook is a winner. The rest are basically re hashing the same old things. You can find a pdf copy of trading in the zone if you do a little detective work… I found it after about five minutes. I trade minis for a living and find the best advice I can give is keep your systems simple. GOT THAT? Simple. One indicator thats it. Try stochastic. It works and after all its only an indicator.
Good luck.