If you have been trading for a while, and without real success, then the best-seller book Trading in the Zone by Mark Douglas is a must read. In this book Douglas breaks down why most traders are consistently losing, and how these traders can turn that into consistently winning. Great traders are made, not born, is the underlying message of the book.
To me it is the best book about trading ever, but it is not for beginning traders though. Some experience in trading (and in losing) is a must to get the best out of this book.
The way of the iceman is about the famous Wim Hof Method. Wim Hof teaches how to connect with your own deeper inner power by means of cold showers and breathing exercises.
The reason why I got interested in the Wim Hof Method was that some traders from the Day Trading Forex Live (DTFL) course had done the training.
Out of curiosity, I decided to do the free mini class, followed by the popular 10-week classic video training course.
That was a good decision. Now, having completed the training, I am much better able to deal with losing streaks (they have become like those lovely cold showers) and to remain ‘in the zone’, as Mark Douglas would say it.
Think big is a book written by Donald Trump, business man, television personality and the 45th US president. The book is all about making things happen in life and business, and so in Forex trading as well.
The book was recommended by the people from Infinite-Prosperity, which was the reason that I gave it a try.
Most of the book was not very useful, but the chapter about building momentum had some unmissable lessons. For that reason alone: recommended.
This book Thinking Fast and Slow by Daniel Kahneman describes our human thinking process, how we make decisions and why we make them.
Daniel Kahneman describes human thinking as divided in 2 systems: a fast and a slow thinking system. And by means of this he explains why we sometimes make good decisions and sometimes stupid decisions.
In Forex trading it is all about making decisions. This book helped me getting to know why I come to certain decisions. As a result I am much better able to reflect on them, and so to reconsider them before acting on them while trading.
It has improved my trading, and that’s why I recommend it.
Passion and perseverance, that is what the book Grit by psychologist Angela Duckworth is about.
The underlying message of the book is that it is not a lack of talent, but the lack of passion and perseverance (also called “Grit”) what makes or breaks us in life and business.
Having talent is one thing, but having ‘Grit’ is much more of a determining factor. In the book Duckworth offers the Grit-formula to help you get Grit, if you don’t have enough of it.
Recommended, especially to pessimistic Forex traders that are about to give up.