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The Psychology of Trading: Tools and Techniques for Minding the Markets
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The Psychology of Trading: Tools and Techniques for Minding the Markets Hardcover - 2002 - 1st Edition

by Steenbarger, Brett N

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Details

  • Title The Psychology of Trading: Tools and Techniques for Minding the Markets
  • Author Steenbarger, Brett N
  • Binding Hardcover
  • Edition number 1st
  • Edition 1
  • Condition New
  • Pages 352
  • Volumes 1
  • Language ENG
  • Publisher Wiley, Somerset, New Jersey, U.S.A.
  • Date 2002-12-23
  • Features Bibliography, Index, Maps
  • Bookseller's Inventory # 52GZZZ00XXKV_ns
  • ISBN 9780471267614 / 0471267619
  • Weight 1.22 lbs (0.55 kg)
  • Dimensions 9.27 x 6.22 x 1.18 in (23.55 x 15.80 x 3.00 cm)
  • Library of Congress subjects Investments - Psychological aspects, Speculation - Psychological aspects
  • Library of Congress Catalog Number 2002190744
  • Dewey Decimal Code 332.640

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Summary

"The one, only, and by far the best book synthesizing psychology and investing. In addition to providing modern, scientific knowledge about psychology, this book provides a mirror into the mind and wide breadth of knowledge of one of the leading practitioners of brief and effectual cures. Will help to cure your trading and your life." -Victor Niederhoffer, Chief Speculator, Manchester Investments Author, The Education of a Speculator and Practical Speculation "How refreshing! A book that rises above the old NLP model of the 80's and provides insights on how our relationship with the market is indeed a very personal one. Not only has Steenbarger provided some fantastic tools for the trader to transform his mindset, but he has contributed unique trading ideas as well. Brilliant!" -Linda Raschke, President, LBRGroup, Inc. "'Investigate, before you invest' was for many years the slogan of the New York Sto...

First line

I suppose it's only natural that you would expect a book on the psychology of trading to begin with a description of the various emotional afflictions experienced by traders.

From the jacket flap

Behavior is patterned. Beginning with this premise, noted clinical psychologist and active trader Dr. Brett Steenbarger opens the therapist's door, demonstrating how traders can identify, interrupt, and change the problem patterns that interfere with successful trading. In The Psychology of Trading, Dr. Steenbarger draws upon real-life case studies and offers hands-on techniques for emotional change to assist traders in becoming their own therapists. Themes that set The Psychology of Trading apart include:
  • "Trading from the couch" by utilizing emotions as valuable market data
  • Identifying and building solution patterns that capture hidden trading expertise
  • Techniques for assessing and trading against the emotions of market participants
  • Methods for building focus and concentration for more automatic and trustworthy trading decisions
  • Creating shifts in states of consciousness to rapidly exit anxious, impulsive, depressed, and guilty frames of mind

In an engaging manner that provides practical solutions to real trading problems, Dr. Steenbarger walks you through the most common cognitive and emotional tendencies that distort efforts at identifying and trading market patterns. He then describes specific skills derived from years of brief therapy practice to help you become an effective observer of these tendencies and gain control over them. By blending state-of-the-art research from psychology and cognitive neuroscience with detailed case studies, The Psychology of Trading provides you with the intellectual and emotional ammunition to face yourself and transform your approach to risk and reward.

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About the author

BRETT N. STEENBARGER, PhD, is Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, New York, where he also serves as the Director of Student Counseling. Dr. Steenbarger has published over fifty peer-reviewed journal articles and book chapters on topics related to brief therapy, including standard reference entries in The Psychologist's Desk Reference and the Encyclopedia of Psychotherapy. He teaches techniques of counseling and psychotherapy to graduate students in counseling, doctoral students in clinical psychology, and residents in psychiatry. An active trader who conducts his own statistical market modeling research, Dr. Steenbarger has written feature columns for MSN's money site (www.MoneyCentral.com), many of which are archived at www.greatspeculations.com.