Looking for timeless wisdom and inspiration? Then look no further, because you found it!
“Essentials of Trading – It’s not WHAT you Think it’s HOW you Think” is a quick read by Larry Pesavento with Leslie Jouflas. The content is presented as short articles, in bite-sized chunks. It’s easy to read and digest, making it ideal to pick up and read when there’s not much time available.
Both authors are pattern traders and bring a different perspective and outlook to the table.
“Essentials of Trading”, highlights and focuses more on the psychological aspects of trading. You’ll find simple, yet powerful trading concepts covered in brief chapters, perfect for a quick dose of inspiration throughout your trading day.
The book was not written specifically for the Forex trader. However, the principles discussed apply to the Forex as much as any other market… they apply to all traders.
Discussed are topics all traders face. Every trader faces fear and greed, losses, uncertainty, and making mistakes… it’s just part of trading. Yet these are the experiences that hold back most traders.
In “Essentials of Trading” you’ll find trading gems like:
- “There is no mistake in being wrong – the mistake is in staying wrong.”
- “Know when to hold them and when to fold them!”
- “Have a plan to prepare yourself mentally, physically, and emotionally for trading each day. It’s not what you think in trading – it’s how you think!”
- “The biggest source of agony and frustration in trading comes from our expectations of what a market should or should not do!”
- “Remember that losers are results oriented and winners are execution oriented. These are two entirely different processes and the professional trader who focuses on risk management at all times knows this!”
The authors emphasize the fact that trading is all about probability. A single one trade is not important, but it’s the string of trades over a period of time that makes a valid trading system.
As I said, the book is a great read. If you apply what you learn, it has the power to change your trading.