Market Mind Games: A Radical Psychology of Investing, Trading and Risk
Title | Market Mind Games: A Radical Psychology of Investing, Trading and Risk PDF eBook |
Author | Denise Shull |
Publisher | McGraw Hill Professional |
Pages | 289 |
Release | 2011-12-30 |
Genre | Business & Economics |
ISBN | 0071761527 |
Seize the advantage in every trade using your greatest asset—“psychological capital”! When it comes to investing, we're usually taught to “conquer” our emotions. Denise Shull sees it in reverse: We need to use our emotions. Combining her expertise in neuroscience with her extensive trading experience, Shull seeks to help you improve your decision making by navigating the shifting relationships among reason, analysis, emotion, and intuition. This is your “psychological capital”—and it's the key to making decisions calmly and rationally during the heat of trading. Market Mind Games explains the basics of neuroscience in language you understand, which is the first tool you need to manage the emotional ups and downs of the trading. It then provides you with a rock-solid trading system designed to take full advantage of your emotional assets.
Market Mind Games: A Radical Psychology of Investing, Trading and Risk
Title | Market Mind Games: A Radical Psychology of Investing, Trading and Risk PDF eBook |
Author | Denise Shull |
Publisher | McGraw Hill Professional |
Pages | 290 |
Release | 2011-12-15 |
Genre | Business & Economics |
ISBN | 0071756221 |
Seize the advantage in every risk decision with the most misunderstood asset you have—human emotion “If you are trying to solve the unsolvable, stop. Read this first and you will learn that the surest path to success will be to start with yourself; solve that conundrum and challenges like understanding how you do and should react to markets will come to be solvable.” —Marvin Zonis, Professor Emeritus, Booth School of Business, The University of Chicago “When it comes to fast-moving global financial markets, professional investors strive to evaluate complex economic conditions from data analysis, economic reasoning, and professional judgment. This is what is taught in business schools. Denise Shull demonstrates how investment decision making is also determined by unconscious emotions and perceptions. Market Mind Games is a fascinating book that proposes a new and unexpected hypothesis about the factors that drive financial decision-making.” —A.G. Malliaris, Professor of Economics and Finance, Loyola University Chicago “Denise Shull wants us to get in touch with our feelings, not to beat our bare chests and utter primordial screams. Far from it—her techniques are focused on making more money.” —Financial Times “Denise Shull’s gem of a book is long overdue. . . .[Market Mind Games] has made the ability to analyze and overcome our unconscious biases and prejudices available to everyone.” —Dr. Donald T. Wargo, Department of Economics, Temple University “Market Mind Games is iconoclastic to say the very least! Pay attention to the last word in the subtitle: risk. This book will change your perspective on how to approach and think about the markets and your life!” —Michael J. Levas, Founder, Senior Managing Principal, and Director of Trading, Olympian Capital Management, LLC “Denise changes the way you look at yourself and investing. Her insights and methods are necessary to succeed in the markets, period.” —Jared Levy, Portfolio Manager and author of Your Options Handbook “Market Mind Games offers a new school of trading psychology. Truly an important work that needs to be on the bookshelf of every serious market participant.” —Mike Bellafiore, author of One Good Trade “Masterful explanation of not only why emotionless trading is a myth, but how we can take advantage of our natural wiring to gain an edge.” —Derek Hernquist, Chief Investment Officer, Integrative Capital, LLC “Shull details ways to learn how you ‘feel’ before you ‘act’ so that your buy, sell, or hold decisions become more successful.” —E. Bernstein, OPUS Trading “A must-read for those who want to make their livelihood as a professional investor, trader, or algorithmic trading developer.” —Larry Tabb, founder and CEO, Tabb Group “Denise Shull enlightens the reader how to effectively unlock one’s psychological capital and translate that awareness into clear and concise investment decisions.” —Grant Mashek, Managing Member, Palm Equity, LLC “Shull’s book is not only a great read but lays out an entirely more effective approach to thinking about any decision that involves the unknown—market related or not.” —Leslie Shaw, Ph.D., Behavioral Economics, and trained psychoanalyst About the Book: What if the mystery of market crashes stems from a simple but total misunderstanding of our own minds? Could everything we think we know about ourselves—intelligence and rationality versus emotion and irrationality—be wildly off the mark? Simply put: yes. With these words, Denise Shull introduces her radical—and supremely rational— approach to risk. Her vision stems from the indisputable fact that human beings can’t make any decision at all without emotion and that emotion gets the first—and last—word when it comes to our perceptions and judgments. Shull should know. She started out managing major accounts for IBM and then chose to research unconscious emotional patterns instead of getting her MBA. Next she became a trader and trading desk manager while continuing to study biopsychology. We are all taught that sidelining our emotions is the best way to make good decisions— Shull declares the converse: emotions inform us. Attempting to control them actually increases the risks we take. Shull advocates treating feelings as data, and she convincingly argues that doing so eradicates the baffling question that repeats itself in our heads after making a poor investing decision: “What was I thinking?” Through a series of “lectures,” Shull logically but engagingly connects emotions, beliefs, and context to our innate reaction to uncertainty and risk (yes, the two are different). In Market Mind Games, she merges more than 20 years of studying risk decisions into a single, astoundingly effective strategy. A reasonable approach to emotion is the best and only way to win the investing game. The methods Shull details in Market Mind Games shake the foundation of conventional market and decision psychology. And, most important, they work.
The Psychology of Investing
Title | The Psychology of Investing PDF eBook |
Author | John R. Nofsinger |
Publisher | Routledge |
Pages | 161 |
Release | 2016-07 |
Genre | Business & Economics |
ISBN | 1315506564 |
A supplement for undergraduate and graduate Investments courses. See the decision-making process behind investments. The Psychology of Investing is the first text of its kind to delve into the fascinating subject of how psychology affects investing. Its unique coverage describes how investors actually behave, the reasons and causes of that behavior, why the behavior hurts their wealth, and what they can do about it. Features: What really moves the market: Understanding the psychological aspects. Traditional finance texts focus on developing the tools that investors use for calculating risk and return. The Psychology of Investing is one of the first texts to delve into how psychology affects investing rather than solely focusing on traditional financial theory. This text’s material, however, does not replace traditional investment textbooks but complements them, helping students become better informed investors who understand what motivates the market. Keep learning consistent: Most of the chapters are organized in a similar succession. This approach adheres to following order: -A psychological bias is described and illustrated with everyday behavior -The effect of the bias on investment decisions is explained -Academic studies are used to show why investors need to remedy the problem Growing with the subject matter: Current and fresh information. Because data on investor psychology is rapidly increasing, the fifth edition contains many new additions to keep students up-to-date. The new Chapter 12: Psychology in the Mortgage Crisis describes the psychology involved in the mortgage industry and ensuing financial crisis. New sections and sub-sections include “Buying Back Stock Previously Sold”, “Who Is Overconfident,” "Nature or Nurture?”, "Preferred Risk Habitat," "Market Impacts," "Language," and “Reference Point Adaptation.”
Investment Psychology Explained
Title | Investment Psychology Explained PDF eBook |
Author | Martin J. Pring |
Publisher | John Wiley & Sons |
Pages | 292 |
Release | 1995-11-03 |
Genre | Business & Economics |
ISBN | 9780471133001 |
Expert advice in a back-to-basics handbook on how to beat the market-the classic way In Investment Psychology Explained Martin J. Pring, one of the most respected independent investment advisors in the world, argues that in the revisionist '90s there are no quick, magical paths to market success. Rather, he emphasizes the timeless values of hard work, patience, and self-discipline-and much more. Drawing on the wisdom of creative investors such as Jesse Livermore, Humphrey Neill, and Barnard Baruch, as well as his own experience, Pring shows how to: * Overcome emotional and psychological impediments that distort decision making * Map out an independent investment plan-and stick to it * Know when to buck herd opinion-and "go contrarian" * Dispense with the myths and delusions that drag down other investors * Resist the fads and so-called experts whose siren call to success can lead to disaster * Exploit fast-breaking news events that rock the market * Deal skillfully with brokers and money managers * Learn and understand the rules that separate the truly great investors and traders from the rest Reading Investment Psychology Explained will give you a renewed appreciation of the classic trading principles that, through bull and bear markets, have worked time and again. You'll see, with the help of numerous illustrative examples, what goes into making an effective investor-and how you can work toward achieving that successful profile.
Enhancing Trader Performance
Title | Enhancing Trader Performance PDF eBook |
Author | Brett N. Steenbarger |
Publisher | John Wiley & Sons |
Pages | 309 |
Release | 2012-06-12 |
Genre | Business & Economics |
ISBN | 1118428641 |
Through his own trading experiences and those of individuals he has mentored, Dr. Brett Steenbarger is familiar with the challenges that traders face and the performance and psychological strategies that can meet those challenges. In Enhancing Trader Performance, Steenbarger shows you how to transform talent into trading skill through a structured process of expertise development and reveals how this approach can help you achieve market mastery.
The New Trading for a Living
Title | The New Trading for a Living PDF eBook |
Author | Alexander Elder |
Publisher | John Wiley & Sons |
Pages | 313 |
Release | 2014-09-29 |
Genre | Business & Economics |
ISBN | 1118963679 |
The best-selling trading book of all time—updated for the new era The New Trading for a Living updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time-tested concepts in gear with today's fast-moving markets, adding new studies and techniques for the modern trader. This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. The New Trading for a Living includes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system. All charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book's language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry—often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets. The New Trading for a Living will become an even more valuable resource than the author's previous books: Overcome barriers to success and develop stronger discipline Identify asymmetrical market zones, where rewards are higher and risks lower Master money management as you set entries, targets and stops Use a record-keeping system that will make you into your own teacher Successful trading is based on knowledge, focus, and discipline. The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools.
Markets in Profile
Title | Markets in Profile PDF eBook |
Author | James F. Dalton |
Publisher | John Wiley & Sons |
Pages | 224 |
Release | 2011-01-11 |
Genre | Business & Economics |
ISBN | 9781118044643 |
Markets in Profile explores the confluence of three disparate philosophical frameworks: the Market Profile, behavioral finance, and neuroeconomics in order to present a unified theory of how markets work. The Market Profile is an ever-evolving, multidimensional graphic that gives visual form to the market's continuing auction process, revealing the myriad underlying dynamics that influence market activity. Behavioral finance posits that investors are driven more by emotional factors and the subjective interpretation of minutia than by "rationality" when making investment decisions. And neuroeconomics is the study of how investor psychology permeates and affects the financial markets. Mr. Dalton explicates the ways in which irrational human behavior influences the market's natural auction process, creating frequently predictable market structure, which results in opportunities for investors to ameliorate risk. The book will improve investors ability to interpret change in markets, enabling better, more confident investment decisions.