If you have a love-hate relationship with trading, these four books will make you shout with enjoyment, the kind that makes you want to slap your thigh after finishing them.
1. (Trading Psychology Analysis) — specially treats the issue of 'prices drop right after you buy, prices rise right after you sell,'
This book can cure your 'itchy hands' disease! The author, Mark Douglas, hits the nail on the head: 'Do you think you lose money because of poor skills? Actually, it's because your mindset collapses! Why do you make a fortune in demo trading but lose in real trading? Because real money makes you 'hope for a rise, fear a fall,' and in the end, you are led by emotions.' The toughest strategy in the book is: before the market opens each day, silently say 'I will definitely lose three times today,' which can help you calm down. It's suitable for those gambler-type players who always want to go all-in.
2. (Making a Living from Trading), from doctor to full-time trading master,
Teaches you to trade with the mindset of 'playing a game'! The author, Elder, was originally a psychiatrist; after switching to trading, he discovered: traders, like patients, will self-destruct. For example, 'if I make a profit, I want to double it; if I lose, I want to break even,' and in the end, you get deeper and deeper. He proposed three pillars of trading: psychology, technique, and capital management, especially emphasizing 'using stop-loss orders to protect yourself, just like saving in a game.' After reading, you'll understand: masters are not right every time, but they can survive even when they are wrong.
3. (Walking Out of Illusions, Moving Towards Maturity), a guide for retail investors to transcend their trials,
The author of the financial empire has written the grassroots trading bible, translating the turtle rule into survival wisdom at the mahjong table. The most subversive argument is: random entry + relentless trend = lying down to win most strategies.
Classic theory in the book: the golden cross of moving averages is a trap set by the main forces, the technical signals you think are real are all false moves, the more precisely you set your stop-loss, the quicker you die, the vague correct is stronger than the precise wrong, use poker thinking to play futures, the folding rate determines the survival rate.
4. (Reminiscences of a Stock Operator), a martial arts novel in the trading world,
Livermore's life is more thrilling than a movie! He earned $1,000 at 15, had a net worth of over a hundred million at 30, experienced bankruptcy four times and made a comeback. This book has no technical indicators, only the naked human nature game. He famously said, 'There is nothing new on Wall Street because human nature never changes.' Reading it is like watching a master duel; he helps you step into the pitfalls of losing money and margin calls. After reading, you will understand: the biggest enemy in trading is actually yourself.
Finally, let me speak a big truth:
These books won't make you rich overnight, but they can help you avoid five years of detours. As one reader said: 'If I had seen these earlier, my account could have had a few more zeros.' Trading is an infinite game, and the true winners are those who 'know how to lose.'