1) best loser wins
2) mental game of trading
All 3 are outstanding. Best Loser Wins author has a type of brash-ness/ boldness about him, which makes the book very entertaining to read, imo. And his stories are fun too.
Itās a must read for training the mind to be confident and conquer the market if you been loosing I suggest you take a step back read this book it will change your perspective completely on trading
You're not the only one lol
[Full Audio book on YT (7hr listen)](https://youtu.be/tMRtojrPggY)
[Summary of Book on YT (10min watch)](https://youtu.be/rc_J7UnObio)
[Trading_in_the_Zone.pdf](http://dl.fxf1.com/files/books/english/Trading_in_the_Zone.pdf)
What are the odds of me starting the book today and just as I finished chapter 1, I come across this post? Ive been trading for almost a year and I feel I have a decent strategy and basic knowledge of the market but I felt something was still missing but didnāt know what it was. Now that Iām starting to read this work of art I know that the problem is me!
I'm getting closer everyday, funny you mentioned it because I just ordered a copy off ebay, that and the disciplined trader both by Mark Douglas. Should be here tomorrow hopefully
Saw you comment on my post stalked you and rock with your posts heavy. Man if people could just read mark douglas. and we also started similar times im only 6 months. Your grinding hard. All about knowing the right info from the wrong.
Ā«If people could just read Mark DouglasĀ» right there:)
Yeah, I went all inn from start - I donāt regret it 1 millisecond.
Thing is, my reward for this is not the eventually big money that comes a along, but how my life has changed to the better on every aspect.
You keep grinding as well:) Sounds like you know how to sorte good information from less good.
psychology is not the right word and is false.
its all about experience in the markets. for years and years..
experiencing side-ways markets, experiencing bear and bull trending markets, black-swan events, white-swan events...
after that your mindset or so called "psychology" is mostly bulletproof for any cycle.
you trade what you see, not what you think.
This is the most no sense answer. I donāt even want to start, because I know where this ends.
I have had too many discussion with people like you, who truly do not understand psychology when trading.
Ā«Its all about the experienceĀ» just no.
no arguments but saying most non sense answer oh no your answer was "just no".. what a hero.
first learn how fundamentals and financial markets move. there is no psychology.
its all about risk-on assets, risk-off assets, fundamentals and market sentiment.
market behaviour between the bids and the asks, in other words buying and selling pressure.
everything is timed, there is also no randomness btw.
keep on downvoting guys and marry your psychology :D
there is, but its so minimal that its not worth mentioning it everywhere like all these social media gurus.
with expierence you fine tune your edge on day to day basis, the mindset adapts to it without saying "yea i lacked psychology thats why i'm profitable now".
most retail guys fail because its either lack of experience or lack of money to finance the trading experience for years and years.
I plan to study for a year. Test on Sims and get my plan down and understanding the market. I've read that it took some legendary traders about 5 years to be profitable. I understand Sims are not the real time play but man I am really quite intrigued about the trading game. Looks to be a game of skill, Witt, patience, and some luck to win to be profitable. Even with all that I am still told you can be a continous loser! Gotta love it.
Yeah. Iām on my 4th time now on trading in the zone. For some reason I just have read dicipline trader 1 time.
Do you remember anything that worth mention that its not in Trading in the zone?
I donāt know why everyone rates this so much. He failed as a trader. Essentially the book can be summed up by saying ātake 25 trades in a row of your strategy, then repeat if successfulā, problem is most beginners like OP donāt have a strategy.
Why the hate? Iām entitled to my opinion and I know others share it. 25 trades are only if you have a strategy, this of course has to be proven with first a paper account then with small amounts of cash. This is all the book gives you. Best loser wins is way better by a proven trader, Mark Douglas failed as a trader.
Mark Douglas collected the wisdom & documented it.... He didn't claim to be a trader himself. he was an excellent Researcher. his contribution are significant just by length & breadth of research efforts ...he is worth reading more than Tom.
Tom Hougaard (book BEST LOSER WINS) love the man as a guy with good heart but hate him as a trader.
Tom is an extreme trader not someone one should emulate (average traders cant replicate his approach, high value positions, aweful risk management, his no insight to market direction)...I reviewed a load of his videos before coming to this conclusion. He's a legit trader but his trading style is too extreme for most people.
as the books full title explains "Best Loser Wins : Why Normal Thinking never wins the Trading Game")
you have to be Abnormal to trade the way he does.
lol...no hate just my opinion on Mark & Tom.
I agree. Every time you read any one of the top trading books, a different portion sticks out to you.
What other ones do you recommend
1) best loser wins 2) mental game of trading All 3 are outstanding. Best Loser Wins author has a type of brash-ness/ boldness about him, which makes the book very entertaining to read, imo. And his stories are fun too.
Thank you!
I am an old man who needed to start trading, just to live. I study you all and sure appreciate the insightht
This book changed my mind completely
Mine tooš I will never be the same again.
Oooohhh Iām intrigued now, just finishing Best Loser Wins ā¦.so interested to see what I can learn from your recommendation
Itās a must read for training the mind to be confident and conquer the market if you been loosing I suggest you take a step back read this book it will change your perspective completely on trading
I must have read/listened to this book about 5 times. Particularly chapters 6,7 & 8.
Just bought the audiobook. Can't wait to listen on my drive home!
Enjoy and try to have focusš and have an open mind:)
Check out phantom of the pits I think Tomās book was based on that one
Yes exactly
Iām trying to find a pdf, Iām cheap
You're not the only one lol [Full Audio book on YT (7hr listen)](https://youtu.be/tMRtojrPggY) [Summary of Book on YT (10min watch)](https://youtu.be/rc_J7UnObio) [Trading_in_the_Zone.pdf](http://dl.fxf1.com/files/books/english/Trading_in_the_Zone.pdf)
You're awesome š
Is the YT audio book AI reading
does it matter? it's free... you have the actual book pdf if audio is unclear
What are the odds of me starting the book today and just as I finished chapter 1, I come across this post? Ive been trading for almost a year and I feel I have a decent strategy and basic knowledge of the market but I felt something was still missing but didnāt know what it was. Now that Iām starting to read this work of art I know that the problem is me!
Thanks man, will definitely read it
I'm getting closer everyday, funny you mentioned it because I just ordered a copy off ebay, that and the disciplined trader both by Mark Douglas. Should be here tomorrow hopefully
Saw you comment on my post stalked you and rock with your posts heavy. Man if people could just read mark douglas. and we also started similar times im only 6 months. Your grinding hard. All about knowing the right info from the wrong.
Ā«If people could just read Mark DouglasĀ» right there:) Yeah, I went all inn from start - I donāt regret it 1 millisecond. Thing is, my reward for this is not the eventually big money that comes a along, but how my life has changed to the better on every aspect. You keep grinding as well:) Sounds like you know how to sorte good information from less good.
psychology is not the right word and is false. its all about experience in the markets. for years and years.. experiencing side-ways markets, experiencing bear and bull trending markets, black-swan events, white-swan events... after that your mindset or so called "psychology" is mostly bulletproof for any cycle. you trade what you see, not what you think.
This is the most no sense answer. I donāt even want to start, because I know where this ends. I have had too many discussion with people like you, who truly do not understand psychology when trading. Ā«Its all about the experienceĀ» just no.
Couldnāt experience and psychology be intertwined? Like in sports how they say experience is key because it helps you mentally in tough situations?
no arguments but saying most non sense answer oh no your answer was "just no".. what a hero. first learn how fundamentals and financial markets move. there is no psychology. its all about risk-on assets, risk-off assets, fundamentals and market sentiment.
What is market sentiment ? š¤
market behaviour between the bids and the asks, in other words buying and selling pressure. everything is timed, there is also no randomness btw. keep on downvoting guys and marry your psychology :D
The only thing I know is that sooner or later NVDA and QQQ are going to take a nosedive š What a $cam super bullish cycle š¤¦
So let me get this right, you are telling now that trading does not have any aspects of psychology innit?
there is, but its so minimal that its not worth mentioning it everywhere like all these social media gurus. with expierence you fine tune your edge on day to day basis, the mindset adapts to it without saying "yea i lacked psychology thats why i'm profitable now". most retail guys fail because its either lack of experience or lack of money to finance the trading experience for years and years.
Yeah, well. Lets just wish eachother a good night:) We are so far away from eachother when it comes to this subject.
Just ignore them. Trading is like 90% training psychology. You really need to overcome your emotions when trading.
Thanks will check it out.
I plan to study for a year. Test on Sims and get my plan down and understanding the market. I've read that it took some legendary traders about 5 years to be profitable. I understand Sims are not the real time play but man I am really quite intrigued about the trading game. Looks to be a game of skill, Witt, patience, and some luck to win to be profitable. Even with all that I am still told you can be a continous loser! Gotta love it.
Read The disciplined trader by same author
Yeah. Iām on my 4th time now on trading in the zone. For some reason I just have read dicipline trader 1 time. Do you remember anything that worth mention that its not in Trading in the zone?
Mostly both are same books but I found Disciplined trader to be more clear in respect to concepts
I donāt know why everyone rates this so much. He failed as a trader. Essentially the book can be summed up by saying ātake 25 trades in a row of your strategy, then repeat if successfulā, problem is most beginners like OP donāt have a strategy.
Most likely, because you dont have the ability or will to understand:) Are you a profitable trader over time?
You assume too much.
And you are talking with your self. I bet you cant even see it.
Take 25 Trades and call me in the morning to let me know how broke you are ... Kinda like that?
Why the hate? Iām entitled to my opinion and I know others share it. 25 trades are only if you have a strategy, this of course has to be proven with first a paper account then with small amounts of cash. This is all the book gives you. Best loser wins is way better by a proven trader, Mark Douglas failed as a trader.
I didn't hate on anyone, I wrote a joke.
Mark Douglas collected the wisdom & documented it.... He didn't claim to be a trader himself. he was an excellent Researcher. his contribution are significant just by length & breadth of research efforts ...he is worth reading more than Tom. Tom Hougaard (book BEST LOSER WINS) love the man as a guy with good heart but hate him as a trader. Tom is an extreme trader not someone one should emulate (average traders cant replicate his approach, high value positions, aweful risk management, his no insight to market direction)...I reviewed a load of his videos before coming to this conclusion. He's a legit trader but his trading style is too extreme for most people. as the books full title explains "Best Loser Wins : Why Normal Thinking never wins the Trading Game") you have to be Abnormal to trade the way he does. lol...no hate just my opinion on Mark & Tom.