Winning the Mental Game on Wall Street: The Psychology and Philosophy of Successful Investing

Of all the books available on the markets, this is the one I'd recommend to a beginner as a starting point. I'm not surprised that an amateur would be disappointed (or even dissapoined) in it since it doesn't provide quick-start recipes for guaranteed success in the financial arena. What it does do is explain what the markets are all about. It dispels the myths that lead to inevitable losses and eventual ruin, preparing one for the reality of the market rather than perpetuating the illusions that enable all those advisory services, newsletters, and gurus to flourish.You won't learn the "best" MACD settings here. What you will learn is the reality of the markets, a necessary first step toward creating a trading style.Oddly enough, Amazon has paired the book with The Nature of Risk, above, at least temporarily, which is the second book I'd recommend to anyone interested in learning how to approach the financial markets.

This is one that I wish I had read when I first started trading. It took me over 3 years to even come across this book. I had no idea it existed. I can't be sure if it would have the same effect then as it does now. However, I honestly feel that it is essential no matter what stage you are in. One would probably benefit to read this book every 3 to 6 months. I have a pretty solid suspicion that the material is this book will take on different meanings during different stages of a trader's progression.If you are open to change in your life, this will be one of the most influential books you will come across. There is many a paradigm shift in the text. It is often difficult for people to accept change since our perceptions are ingrained from such an early age. However, it is possible to change these habits and preconceptions once one "learns how to see". Magee's book will put you on the right path to "seeing" how Wall Street really is.This isn't a "how to" book on trading. It is meant as a companion piece to Magee's other work, TA of Stock Trends. And when one considers that these books were written a few generations ago, it lays credence to the adage that the more things change the more they stay the same. The same game is played on Wall Street today as it was 100 years ago and will continue 100 years into the future.When you are ready to learn (and I mean open your eyes to a new way of thinking) this book will be there for you.

great book

The answer to all those traders that constantly loose money in the market.