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Soultrader

The Psychology of Risk by Ari Kiev

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A mediocre book dealing with trading psychology. Ari Kiev advises traders to deal with emotions. Emotions are a part of human nature and it is impossible to eliminate emotions completely. Therefore, it is best to understand how emotions affect our trading behavior and do our best to control it.

Overall, I found this book rather simple. I was not satisfied by the material covered in the book. Alot of the content is nothing new and redundant. Perhaps traders may find his first book better.

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I really liked this book. It helped me understand some important risk perspectives. Most pertinent would be the ability to risk on a win not a loss. Most hold and risk on a loss - human nature. But this book helps with the issue of risking for a win and increasing that risk when it is winning. Picking an objective profit target and risking to get that as opposed to being scared to risk because of the inability to take on risk mentally.

It is one of my favourite books.

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Can Soultrader or some other members recommend some good books on trading psychology? The ones that I like most so far are:

 

a. Mark Douglas: Trading in the Zone

b. Steenbarger: Enhancing Trader Performance

c. Larry Phillips: Zen and the Art of Poker

d. Roosevelt: Exceptional Trading

 

Btw, heard that Jim Paul's "What I Losing A Million Dollars" is an excellent read, however, it's out of print and only available at very high prices.:cool:

 

Thanks.

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you mean "Unleash the Warrior Within":doh:

 

I thumbed through that once and it looked pretty good...but no book can replace the fun of spending 4 years working for Uncle Sam. lol

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it's a pity that I don't have a chance to work for Uncle Sam

 

another good book not so related to trading superficially is:

 

The New Psycho-Cybernetics

 

Yes it is, but no big deal, there are some great books out there.

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Kiev's Trading to Win is a excellent book and has made things more understandable to me. That is fact to me.

That is the great, and frustrating thing about trading, different people can have diametrically opposed results from the same thing. I'll reserve final judgment until I finish the book.

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