Regular marked price: $40.00Discount Price: $26.40
Cost Savings: $13.60 (34%)Price fluctuation possible.
How soon does it ship: Normal ship time within one day
Shipping? Absolutely FREE if you qualify for Super Saver Shipping.
Type of bind: Paperback
Dewey Decimal Number: 332
EAN num: 9780471133001
ISBN number: 0471133000
Label: Wiley
Manufacturer: Wiley
Quantity: 1
Page Count: 288
Printing Date: October 20, 1995
Publishing house: Wiley
Sale Popularity Level: 242785
Studio: Wiley
Other books you might be interested in perusing:
Editor's Notes and Comments:
Product Description:
Expert advice in a back-to-basics handbook on how to beat the market-the classic way
In Investment Psychology Explained Martin J. Pring, one of the most respected independent investment advisors in the world, argues that in the revisionist '90s there are no quick, magical paths to market success. Rather, he emphasizes the timeless values of hard work, patience, and self-discipline-and much more. Drawing on the wisdom of creative investors such as Jesse Livermore, Humphrey Neill, and Barnard Baruch, as well as his own experience, Pring shows how to:
* Overcome emotional and psychological impediments that distort decision making
* Map out an independent investment plan-and stick to it
* Know when to buck herd opinion-and 'go contrarian'
* Dispense with the myths and delusions that drag down other investors
* Resist the fads and so-called experts whose siren call to sucess can lead to disaster
* Exploit fast-breaking news events that rock the market
* Deal skillfully with brokers and money managers
* Learn and understand the rules that separate the truly great investors and traders from the rest
Reading Investment Psychology Explained will give you a renewed appreciation of the classic trading principles that, through bull and bear markets, have worked time and again. You'll see, with the help of numerous illustrative examples, what goes into making an effective investor-and how you can work toward achieving that successful profile.
User popularity level:
Rated by buyers 
-
I knew him through IFTA annual conferences in the last two year. Mr. Pring is gentleman with great passion to share his long experience and knowledge with others in setting during breaks and after conference hours. Passion that makes you feels like you are listening to a music concert you do not want it ever to end. So you can imagine what his books content would be. I have read his books on 1) Technical Analysis Explained and, 2) Introduction to Technical Analysis: A CD-ROM Seminar and Workbook and keep them handy references all the time. A lot of books written for financial markets' technical analysis have great contents, but most are difficult to grasp by beginners. What set Mr. Pring in the top of others is not just the contents, but the beauty of his writting simplicity which makes his books easy to understand by beginners in the financial markets. In his book Investment Psychology Explained start with the following short paragraph that get you hooked to read the rest of the book, and I will:
"For most of us, the task of beating the market is not difficult; it is the job of beating ourselves that proves to be overwhelming", etc.
Rated by buyers -
This is a more advanced strategy based bible for the busy trader and the mindset involved. I bought this one along with Trading in the Zone and found the two of them compliment each other quite nicely. He covers a wide range of philosophies from the greats, and helps you see through the problems of over trading yesterday with an overload of acess to information, and a media full of pump and dump charlatans.
Rated by buyers 
-
A serious trader or investor can never dismiss this book. It's a must read considering there are not very many investment psychology books written with a comprehensive coverage. And if you know Pring's background and have read more of his books, you will understand this work better. He has done a good work in nailing the points of Investment psychology specially by dedicating a section on "Knowing yourself". Easily one of the best books written on the subjet. One reading is not enough if you want to really get "IT".
Rated by buyers -
This book utilizes the historical events of various markets (mostly the US stock market) to explain various behaviours of market participants. The information is concise and each chapter deliver its points clearly. Part 3 of the book even list the trading rules of various well known authors/traders so that the readers can feel the importance of discipline as these well known individuals have to list a set of rules to remind themselves what not to do.
One thing I do not like are quoted results from research on trader psychology. The conclusions mentioned do not really sound very scientific nor making any sense. e.g. only "successful" traders are studied and conclusion is made without mentioning any similar study to prove such quality do not exist on "unsucessful" traders.
Overall, this is a good read for someone who already have experience in trading the market and would like to start learning something about the psychology aspect of trading. It will not be useful at all for a beginner who has not experience the emotional ups and downs related to trading, as the beginner is not likely to be able to connect with the content at all.
Rated by buyers -
I had read over a hundred trading books by far and written many reviews here on Amazon. This is the very first time I used the term "book of books" to tell how far an author had tried to incorporate the trading ideas/concepts/rules of other gurus into his book. I dont mean that this book is simply a product of copy and paste. I believe the author had the good intention of covering as many "classic" strategies as possible to deliver the promise of the book title to his readers. In my opinion, most of the essential trading psychology concepts had been there.
This book is divided into three main parts. The very first one tries to break popular trading misconceptions/errors with topics like no holy grail, myth of expert, marketitis (overtrading), tickeritis (too close to a quote screen), price-news drug effect (too easy acess to prices, news and analyses), damage from tips or rumors, cult of guru, greener pastures effect (survival bias of industry funds), pride of opinion, specific difficulties facing successful businessmen and so on. The second part is about contrary opinion. Historical big crashes are discussed, as well as means to avoid or even profit from them. The third part is primarily rules and regulations of legends like Warren Buffet, John Templeton, Paul Tudor Jones, Bernard Baruch, W.D. Gann etc, and those developed by the author himself.
I agree with some reviewers that the author's writing is quite dry. To me, that's acceptable because it's not easy to elaborate with vivid words and stories, or the book will be far more than 265 pages. It would be eye opening for those who had read less than three trading psychology books. For serious trader readers, this book is still satisfying with the opportunities provided for the traders' own health check. Not a must, but certainly a valuable asset in one's own trading library.
Warning: Though my comment above is quite positive, please take this as a reference book only before you completely understand yourself and your best trading style. Otherwise, the third part of the book may lead you to become a Jack of all trades and thus meat for your fellow traders/investors.
Find other books like this one:
