Financial Risk Taking: An Introduction to the Psychology of Trading and Behavioural Finance (Google eBook)
In Financial Risk Taking, trader and psychologist Mike Elvin explores the complex relationship between human behaviour patterns and the markets, offering the reader a context in which to assess their own strengths and weaknesses as investors. The book offers an apposite and uncomplicated system of skills development in the form of competences and competencies that can be applied anywhere along the continuum from casual investor to full-time day trader. Elvin presents a Comprehensive Model of Trading Competence (the MOT) as well as the concepts of analysis and refutation, the paramouncy principle, and self-sabotaging behaviours such as the Santa Claus syndrome and Bohica effect.
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1 Introduction Between Scylla and Charybdis
2 Understanding Trading Competence
3 A Comprehensive Model of Trading Competence
4 Taming Stress to Become a Better Trader
5 The Psychology of Perceptual Bias
6 Emotions Emotional Intelligence and the Trader
7 Martial Arts and Budo Zen Controlling Fear and SelfSabotage
ability achieve action anxiety availability error become behavioural finance belief paradigm Borsellino brain brokers Budo Budo Zen business plan centre Chapter chart cognitive coping course day trader decisions depression develop discipline discussed Emotional Intelligence everyday example experience fear feel fundamental analysis future gambling glucocorticoids goal halo effect home traders identify important indicates intuition investment investors Jesse Livermore judgement learned helplessness learning limbic system losing loss market trading mental rehearsal methods mind money management moods negative one’s open outcry patterns perceptual biases performance position position trader predict problem profit programme Prospect theory psychology recognise response risk self-awareness self-sabotaging behaviour skills speculation Stock Market stop strategy stress stressors successful trader Tactical technical analysis techniques theory thinking trading competence trading rules trading system tutor understanding warrior trader worry Yerkes-Dodson law