Average Reviews:
(More customer reviews)Wow--I am truly impressed with the quality and content of this book! Fortunately, the short profile quiz in the book identified me as a trader who already has strong self-discipline and a good working understanding of trading psychology and as someone who might not need to read further chapters, but I was still able to pick up pointers and solutions to the remaining problems that plague me (getting out of a position too soon, or getting out too late--both problems falling in a class called "non-specific fear or greed"). Friends of mine who have weaker self-discipline clearly exhibit many of the psychological problems that Bernstein describes as common amongst traders, especially a strong aversion to using stops for money management/loss control. I find many of his repair techniques to be similar to those used in neuro-linguistic programming (NLP) to treat other behavioral/psychological problems, and I appreciate his respect for many different trading styles and systems; unlike many other writers, who say that their system is the ONLY system or ONLY way to consistently profit, Bernstein stresses that ANY trading system/methodology or lack thereof will work so long as the trader has the psychology and discipline to execute it. Bernstein of course advances his own trading rules, some of which I don't agree with but which are not wrong--just not my style. Whatever *your* trading style, I'm sure you'll benefit from learning how to better implement it, so read this book! Needless to say, this is one of the few books that I've decided shall have a permanent place on my trading library shelf. It is at once detailed and scientific in content, yet easy to read and understand and will be re-read in times of trading weakness.
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