The Thinking Trader

$9.99

Traders should think more than they do. Most people are not wired to become traders. Enjoying losses, rejecting traditional work ethics, and getting comfortable with fear are just some of the things you must learn as a trader. To change your mindset into that of a winning trader, you need to gain experience and do some serious pondering. Keep thinking about what is the right thing to do as a trader. And do it. This is what differentiates a trader from a gambler.

A gambler knows what he is doing is wrong, that he is fighting against the odds, and continues with it. As a trader, you stop doing what’s wrong and keep doing what’s right. This means that you trade only when the odds favor you. One of the main theme in this book is to limit your trades. Trading gives the impression of freedom. Traders are free to trade what they want, when they want. Indeed, traders are free to decide how they want to trade. Yet, the key to successful trading is to use this freedom responsibly.

In The Thinking Trader, there are ideas from samurais, philosophers, and professors. Over the years, I’ve encountered many ideas in life that are useful for traders. This is not surprising as both life and markets are characterized by uncertainty. Good traders learn to be comfortable with uncertainty.