The Psychology of Trading: Tools and Techniques for Minding the Markets

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John Wiley & Sons, Jan 30, 2004 - Business & Economics - 352 pages
3 Reviews
"The one, only, and by far the best book synthesizing psychologyand investing. In addition to providing modern, scientificknowledge about psychology, this book provides a mirror into themind and wide breadth of knowledge of one of the leadingpractitioners of brief and effectual cures. Will help to cure yourtrading and your life."
-Victor Niederhoffer, Chief Speculator, ManchesterInvestments
Author, The Education of a Speculator and PracticalSpeculation

"How refreshing! A book that rises above the old NLP model of the80's and provides insights on how our relationship with the marketis indeed a very personal one. Not only has Steenbarger providedsome fantastic tools for the trader to transform his mindset, buthe has contributed unique trading ideas as well. Brilliant!"
-Linda Raschke, President, LBRGroup, Inc.

"'Investigate, before you invest' was for many years the slogan ofthe New York Stock Exchange. I always thought a better one wouldbe, 'Investigate YOURSELF, before you invest.' The Psychology ofTrading should help you increase your annual investment rate ofreturn. Mandatory reading for anyone intending to earn a livelihoodthrough trading. "
-Yale Hirsch, The Hirsch Organization Inc., Editor, The StockTrader's Almanac

"This highly readable, highly educational, and highly entertainingbook will teach you as much about yourself as about trading. It'sOliver Sacks meets Mr. Market-extraordinary tales of ordinaryprofessionals and individuals with investment disorders, and howthey successfully overcame them. It is a must-read both for privateinvestors who have been shell-shocked in the bear market and wantto learn how to start again, as well as for pros who seek an extraedge from extra inner knowledge. Steenbarger's personal voyage intothe mind of the market is destined to become a classic."
-Jon Markman, Managing Editor, CNBC on MSN Money
Author, Online Investing and Swing Trading

"Dr. Steenbarger's fascinating, highly readable blend of practicalinsights from his dual careers as a brilliant psychologist andtrader will benefit every investor; knowing oneself is as importantas knowing the market."
-Laurel Kenner, CNBC.com Columnist, Author, Practical Speculation
 

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Contents

Chapter One The Woman Who Could Not Love
1
Chapter Two The Student Who Wouldnt Study
21
Chapter Three The Woolworth Man
45
Chapter Four Traders Out of Their Minds
69
Chapter Five Mary Mary Quite Contrary
91
Chapter Six The Evil Spiders
115
Chapter Seven The Big Man beneath the Bed
137
Chapter Eight Buried Alive
161
Chapter Ten The Coat in the Closet
205
Chapter Eleven Pinball Wizardry
225
Chapter Twelve A Session at Gunpoint
249
Chapter Thirteen A Dose of Profanity
269
Chapter Fourteen Trading from the Couch
291
Bibliography
319
Index
325
Copyright

Chapter Nine TranceForming the Mindscape
185

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Page xiv - Newton said that if he had seen farther than others, it was because he had stood on the shoulders of giants.

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About the author (2004)

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.

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