The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist
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| The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist | |||||||||||||||||||||||||||||
| Reader Reviews 1 - 4 of 4 | |||||||||||||||||||||||||||||
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| 08-12-09 | 1 | (NA) |
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I read all the great reviews in here thinking this book must be really good. But upon reading it, I realized it's about training yourself to be a coach for yourself?? I thought this book was about learning how to beat the market by implementing trading strategies but it's all about stupid things like eating well, going to sleep early and bunch of other stupid mundane common sensical things that any average intelligent person should know. And what's learning to be a coach has to do with trading since trading in it self is already a handful to learn. The last thing I want is to add more unnecessary info into my already overwhelming trading strategies. Unless you have no common sense and you're less than an average intelligent person then buy this book but otherwise save your money for better books. And if you're that less than average then you shouldn't be trading the stock market to begin with. Once again I really don't know what other reviewers are seeing in this book that they gave 5 stars.
Edit: Let me clarify again about what I said. Just why would I want to learn how to be a coach and instead of learning how to trade? It's like if you want to learn how to play tennis, why would you want to buy a book on how to be a tennis coach rather than learning how to play instead? I believe this author tries to be unique in trying to sell his book by being pretentious and somewhat condescending. (Review Data Last Updated: 2009-08-14 00:19:31 EST)
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| 08-07-09 | 5 | (NA) |
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"What were you thinking?" "Why did you do that?" "Did you think that through?" "Is this really what you want to do?" How many times have we traders asked ourselves these questions? This book has helped me ask the difficult questions before making the big mistakes. Written in a wonderful conversational tone, and in everyday language, the author presents short and concise daily lessons on how to fine tune your trading game. Best read and re-read to reinforce the lessons and coaching tips. Highly recommended.
(Review Data Last Updated: 2009-08-14 00:10:49 EST)
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| 07-29-09 | 5 | 1\1 |
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This is a great book on trading psychology. Since it consists of 101 lessons it is actaully quite heavy reading. The reading itself is not heavy, but the reader will have to think and digest the 101 lessons. That is a heavy job.
I would suggest that you start out with the author's first or second book: - The first book is about emotions and trading - The second book is about learning and trading Pick the topic that is most challenging to you and start by reading that book. If you like what you read, then I would suggest you buy the current book (Review Data Last Updated: 2009-08-14 00:10:49 EST)
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| 06-07-09 | 5 | 3\3 |
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After reading over 100 books on trading, I believe this one could very well be the most important. Your mind will determine if you are successful or not in trading. When you trade you are competing with millions of other traders, investors, and institutions for profits. It is similar to being an athlete, and all athletes must have coaches to continually push them to higher levels of achievement through motivation and goals. With out the right coaching, careers stagnate and even go backwards. The beauty of this book is that it teaches you to coach yourself. The author is a trader and psychologist, and he coaches professional traders. His goal with this book is to teach his readers how to coach themselves to success with the same techniques he teaches the pros to use.
Here are some of the gems of wisdom you will find in this book: "...your losing trade is never a total loss as long as you embrace it and learn from it." "When we're most frustrated, but also most overconfident, we're likely to make our worst decisions and violate our trading principles." "..confidence comes from self-mastery." "A good day is one in which we follow sound trading practices, from skilled execution to prudent risk management." "Your focus becomes one of trading well, not one of making money." "To best focus on any single performance, it helps to be diversified among performances." "Positive thinking is not necessarily optimistic thinking, it is constructive thought." "...good risk adjusted returns are better for the psyche than extreme patterns of returns. It's not how much you make, but how much you make per unit of risk taken that will keep you in or out of the performance zone." "Focus on your best trading and you begin the process of extinguishing your worst practices." This book has really improved my trading, by really teaching me to think correctly. It also reinforced my risk management strategies and showed me the importance of learning and growing. If you are serious about becoming a trader this book is a must have, it will show you how to build up the correct psychology to persevere in the markets long enough to win consistently. This is a must have for every trader's library. (Review Data Last Updated: 2009-08-02 13:01:43 EST)
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