The Best Books for Traders

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The Laws of Trading

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Disclaimer Trading is one of the hardest endeavors/professions on the planet. Navy SEAL BUDS selection graduates a higher percentage of trainees than the percentage of successful traders . So if you aspire to become a successful trader and want to smoothen your learning curve now, review these Laws of Trading. Let me know your thoughts in the comments below. A successful trader needs a growth mindset (my skills can always be improved) instead of a fixed mindset (my skills cannot be improved because of excuse X, Y, and/or Z). Watch this video by Stanford University professor Carol Dweck, Ph.D., on the power of a growth mindset. Or check out this shorter and just as great video by Bite Size Psych about the growth mindset and how it's absolutely vital to success in any endeavor. Discover your vision of the future. What do you want your ideal future to look, feel and sound like? A clear vision helps identify the right goals to navigate you to your personal idea of success. Bu...
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Why Trading Stocks is the Best Therapy in the World

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I’m writing this post in an effort to condense numerous lessons I've learned from several different sources I've studied in the course of trying to become a better trader. Trading options and futures is a zero sum game--there is a winner for every loser. Equity trading isn't much better. Moreover, most traders fail (you can also consult the Google for several research papers that further support this point). Failure invokes powerful emotions and memories, that, as a result, invoke future behavior that tries to avoid failure at all costs. Furthermore, fear and greed become more commonplace--which insidiously undermines traders by influencing them to avoid the very trading rules that gave them an edge in the market in the first place. Any edge in the market can be easily and effortlessly undone by emotion.
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How to Perform F2G Technical Analysis

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Disclaimer I use technical analysis instead of fundamental analysis to take as much money from the markets as possible for several reasons. The most important reason is that a stock's price chart reveals areas where I have a higher probability of making money. A close second reason is that "Only price pays" - Brian Shannon aka @AlphaTrends . Everything else is noise in my opinion. Lakai (the most successful futures trader I follow)  and many other successful traders ( especially Tim Grittani ) taught me to keep things simple and master your trading niche. These lessons helped me crush the trading competition at work by turning $100k into $214k in just two weeks! The closest competitor to me turned $100k into $169k! But back to why technical analysis is so essential to extracting money from the markets. For example, Apple could crush earnings and for some reason the stock sells off. This happens to many stocks every quarter, year in and year out. Why not cut out the ...
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