This is a guest post by Beatrix Potter.
Every Must-Read Psychology Book Every Trader Needs to Read At Least Once
Whether you’re just starting out as a trader in the financial world, or you’ve been in the industry for some time, and you’re trying to figure out how to enhance your mindset and keep your head in the game, one of the best ways to learn, educate yourself, and give yourself the best steps moving forward is by reading books.
As a trader, you’ll be subject to a lot of heightened emotions through intense experiences, and having a clear and secure mindset will be essential to your success. When it comes to enhancing your mind, there’s no better field of study to refer to than the field of psychology.
In this post, we’re going to be looking at the must-read books on psychology that every single trader in the world should take the time to read. The beneficial results it could bring into your life are unparalleled.
The Investor’s Quotient – Jake Bernstein
This book successfully goes into depth when it comes to tackling common trading problems you’re almost guaranteed to come across during your time as a trader and will need to overcome and master if you’re to be as successful as possible. Within the pages of this book, you can find new tactics and strategies that can help you be the best you can be.
Sway: The Irresistible Pull of Irrational Behaviour – Ori and Rom Brafman
As the title of this book suggests, Sway is all about that mindset all humans get into at some point in their lives where stress and emotions can cloud our judgments and lead us down paths where typically irrational behavior seems like the best way forward.
Of course, as a trader, this is a situation you may likely find yourself in often, but the difference is that you may suffer huge financial losses when you let yourself go off the rails. This book is all about understanding situations when this happens and then becoming mindful of it and figuring out how to recognize different ways of dealing with these times.
Market Wizards – Jack Schwager
This book is a compilation of conversations that have taken place with some of the top traders in the American trading industry, which provides information on all kinds of trading from those that have the most experience of success in the world. This timeless book contains tips and strategies you can implement into your own trading, as well as remaining engaging and fun.
Hailed by many as being a must have on any trader’s bookshelf, this book is an amazing book that covers 101 important lessons to help you develop a healthy and logical trader’s mindset, that won’t react on emotions, and can always stay cool, calm, and collected, even when the going gets tough.
What I love most about this book is the fact it’s simply written which means anyone can pick it up and learn from it, and whether you’re sitting down to read every page through, or just want to pick it up for a quick bit of inspiration when you’re feeling stressed, this is a fantastic book to have by your side.
With years of experience poured into the pages of this book, with a deep understanding and take on the right perspective, this book has endless five-star reviews and traders rate this book as being one of the best, this is a title you simply cannot ignore.
Thinking, Fast and Slow by Daniel Kahneman
One of those books you could easily call a masterpiece, Thinking, Fast and Slow is the result of years of study into the dual-process model on how the brain works. The author won Nobel prizes based on just how insightful and educational his research and writings have been.
Depending on our situations, our brain can think fast when we need it to act fast, and it can act slowly and methodically when it has the opportunity too. However, when you’re in a high-pressure situation as a trader, it can be very easy to get the two parts of the brain mixed up and conflicting, thus delivering less than acceptable results you may later regret.
Thinking Fast and Slow is all about understanding how the mind works so you can be aware of what’s happening, thus taking back control of your mind and allowing yourself to make the best decisions at the best time, regardless of what’s going on around you.
Beatrix Potter is a content manager and eBook writer at UKWritings.com and Academized.com. Beatrix writes about Psychology; she also is an online proofreader at Custom Essay website.