In this book the author Brett N. Steenbarger explores in detail some of the trappings of the human mind. The idea that psychology plays a pivotal part in being a successful trader isn’t a novel one. This principle is littered all over the pages of almost every trading literature out in the marketplace.

What sets this book apart however is the level of detail the author goes into to explain the actual thought processes that occur when negative impulses are triggered and the provision of a plethora of techniques to interrupt the emergence of such impulses.

The central idea proposed is simple: behaviour is patterned. The author submits that negative patterned behaviour can be interrupted and there are specific effective techniques that can be utilised to achieve this. The author also encourages the reader to form an “Internal Observer” for the purposes of continuous self-monitoring. The idea here is to be constantly aware of one’s emotional state. As these concepts are discussed in detail the reader is also encouraged to embark on a journey of self-discovery and analysis in order to explore the best trading style suited to his psychological predisposition.

Personally I found this book to be very educational in fostering the understanding of the human psyche. The techniques proposed have certainly helped my trading by leaps and bounds. For example, I have come to understand that often a person’s negative patterned behaviour can manifest itself physically, which is why I am more acutely aware of my posture when trading because it helps me observe my emotional state.

In short this book is very easy to read with a narrative that is delivered through a series of some interesting anecdotes. Although slightly lengthy in certain sections, it is also packed with ideas, advice and techniques to help the aspiring trader achieve a higher level of performance. A must read.

Futex Academy give this book a STRONG BUY recommendation

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