Self Help Book Summaries
These book summaries on self help identify books I have read and enjoyed about improving your inner game. They discuss your mental attitude, positive images and how you think. While they are based on success, the ideas can be used for any challenge you face.
Self Help Leveraged via Other Peoples Knowledge
T. Harv Eker, Secrets of the Millionaire Mind In Secrets of the Millionaire Mind, Harv Eker talks about the inner game. He describes that losses in your portfolio are results due in a large part to your inner thoughts. He discusses the different ways of thinking between poor, middle class and rich people. If you want to improve your inner game, this is a great read. When you move from trading system to trading system and never
seem to find one that works, perhaps the problem is not the trading
system but the trader. While this straight forward type of talk is quite
difficult to swallow, you owe it to yourself to identify the route of
the problem. This book could start you on your way to becoming a better
trader. Two lines I like in the book are "Success is a learnable skill" and "The fastest way to get rich and stay rich is to work on developing you". |
Robert T. Kiyosaki, Retire Young Retire Rich In Retire Young Retire Rich, the fifth in the Rich Dad series, Robert Kiyosaki talks about a person's context (how many areas they know) instead of a person's content (how much of each area they know). He discusses leveraging your mind to improve yourself. This is an interesting book which is a bit different than other Kiyosaki books and offers ways to expand your reality. Improving your inner game is one way to begin to enhance your ability to trade stocks. One of the areas that generally needs the most work is discipline. To learn more about why discipline is an important area that requires self help follow this link. Robert details that your future is created by what you do today, not tomorrow. |
Jack Canfield - The Success Principles
In The Success Principles Jack Canfield lays out 64 principles which he has identified that will make a positive difference in your life. I love his first principle as it is very much directed at stock traders "Take 100% responsibility for your life". In many cases traders blame their losses on a multitude of issues. Everything and anything except themselves. When this is you then this book is for you. You must acknowledge that every loss is an error on your part or you were just on the wrong side of the trade. That is it. That is why you should trade with stops.
Another interesting principle is # 13 Take Action. In the world of trading, you can analyze all you want. However until you take action and enter a trade you won't learn much. Risking $50 on a trade will teach you more than analyzing a paper trade.
Maxwell Malts - New Psycho-Cybernetics
In the New Psycho-Cybernetics by Maxwell Malts you will learn a lot of very interesting things. For starters, consider the statement "that when you thoroughly accept that you are not your mistakes, you are freed to acknowledge them, learn from them, set them aside and move on", as it pertains to a trader. In many cases, traders beat themselves up over a loss yet in trading, you cannot win without accepting losses. There is no system out there that wins 100% of the time. Many traders do quite well with systems that win only 40% of the time. They do this by keeping their losses much smaller than their wins.
There are many ideas in this book that can help a trader. This book has sold over 30 million copies and is used by all walks of life to help people get to the next level.
Sadhguru - Inner Engineering
Sadhguru's book Inner Engineering: A Yogi's Guide to Joy is a totally different type of book than you may be use to. Sadhguru is a yogi, thought leader, visionary, philanthropist and a mystic. When I listen to him, he has an amazing depth of knowledge and can typically answer any question thrown at him. For traders, his thoughts on suffering from what has happened in the past and will happen in the future are restorative. Do you dwell on your losses?
He talks about enhancing your ability to perceive as well as listening more to your inner self vs the external world. Without the ability to do the right things and be joyful it will be difficult to become a trader that can easily go from trade to trade, no matter what the result of the last trade is.
The above books will give you a start at developing yourself to the point where your trading should improve simply because you will become a better overall person once you acquire many of the habits that these books detail.
I have also reviewed a number of books on technical analysis when you feel that area needs some help.
I am so proud that my first book is out.
Dating the Stock Market
10 Key Mindsets
You Need to Excel as a Trader
Monte Carlo Simulator
for Traders
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