Tuesday, October 18, 2011

First Book Review: The Inner Voice of Trading by Michael Martin

A good coverage of trading psychology, in a easy to read format.

The chapters are more question based rather than tasked based - if you're looking for specific instructions, Brett Steenbarger is probably a better author.

The style here is based on the commodity style trading, where the trading of breakouts will see a lower probability + higher leverage style personalities that are constantly struggling to stick to a trading system or even choose the one that fits the personality.

This is a good start to finding out how to develop your own internal dialogue to help align your emotional undercurrents with your technical trading strategies.

I would recommend this book based on the price alone, however like breathing, trading psychology is something that you must work on everyday, because of how often it is overlooked.

While all investors will benefit from this reading, the greatest benefit are for those who trade frequently, and who are constantly looking to increase their level of self awareness and their reactions to the market.