Winning the Mental Game on Wall Street: The Psychology and Philosophy of Successful Investing
$22.84
| Author(s) | |
|---|---|
| Pages |
456 |
| Format |
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| Published Date |
2000 |
Winning the Mental Game on Wall Street can prepare an investor for the mental game of Wall Street—that is, the inner game the investor’s mind plays with itself as he watches Wall Street whir around. It would be unwise to underestimate the importance of mental attitude and preparation to successful investing and trading.
Introduction:
Be assured, the winning tennis player who has great conditioning, wonderful technique, great mechanical skills also possesses something the average tennis player does not have—a different mind and attitude. The same thing is true of effective traders. Through the careful study of and application of this book, in conjunction with The Technical Analysis of Stock Trends, the average investor can become an effective trader. This is eminently feasible given the thoughtful and mind clearing instruction of General Semantics.
Why is it, after all, that investing success on Wall Street follows Basso’s Fishing Rule? (Which is that 15% of the fishermen catch 85% of the fish.) It must be that the successful fisherman knows something the others don’t or has better equipment—perhaps a different mentality?
This is true–of the fisherman and of the tennis player and of the trader. Ipso facto the successful player, fisherman, trader manifests skillful behavior and thinking patterns, and the average player, fisherman, investor manifests unskillful thinking habits and behavior patterns. In this book Magee lays out a clear path away from unskillful behavior and to a common sense mentality and method virtually assured of success in the long run.
Contents:
- THE BIG GAME
- OUT OF THE DARKNESS
- THE PRIMARY RECEPTORS
- A STARTING POINT
- DATING THE MAP
- THE 26 LEAD SOLDIERS
- THE PIGEONHOLES
- BEYOND THE WORLD OF THINGS
- THE MEANINGS WE ATTACH TO MAPS
- THE VAGUENESS OF THE HIGH ABSTRACTIONS
- THREE-VALUED ORIENTATION
- MULTI-VALUED SYSTEMS
- INFINITE-VALUED SYSTEMS
- PROFITS CAN BE PAINFUL, TOO
- PREDICTING THE FUTURE
- THE METHOD OF PREDICTION
- PUT THEM AWAY IN THE BOX AND FORGET THEM
- POLITICS AND ECONOMICS
Winning the Mental Game on Wall Street: The Psychology and Philosophy of Successful Investing By John Magee pdf
5 reviews for Winning the Mental Game on Wall Street: The Psychology and Philosophy of Successful Investing
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Jade Ferguson (verified owner) –
The answer to all those traders that constantly loose money in the market.
Lyanna Colon (verified owner) –
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.
Miguel Short (verified owner) –
great book
Frankie Roach (verified owner) –
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.
Bruce Long (verified owner) –
This book is a gem. After reading this book, I will no longer be seeking a fast, easy, get rich method. Since, there isn’t one in our ever changing world.
This book is a must read for anyone entering the markets because it sets up the outlook for an investor in the market which involves gains and losses.