Free Video - Psychology of Risk

Ari Kiev I believe is the trading coach for SAC, Steve Cohen's famous Hedge fund.

Interesting to hear him talk about setting goals much higher than current results, at times many multiples, how it forces one to consider what needs to be done to achieve them.
 
Neat tape

A mellow explanation of why people have difficulties and why the degrees of success vary so greatly.

If you follow Mr Market you will have lots of laughs.
 
Ari Kiev's book The Psychology of Risk is one of only two books on trading psychology that I found worthwhile. The other is John Hayden's The 21 Irrefutable Truths of Trading. Hopefully I can include a third book to that list after I finish Brett Steenbarger's The Psychology of Trading. It looks promising, but it's a difficult read (at least for me) so it may take me some time to get through it.

What permeates throughout Dr. Kiev's book is how to be more profitable we need to get more uncomfortable by taking on more risk. I also like his quote about how the master trader has zero investment in the intellectual assessment of the facts or the analysis of the data.

I will say though that I can understand some of Dr. Kiev's critics when they say he has no comprehension of the psychology of trading as it relates to the average Joe trader who trades his own money. Apparently, his experience is working only with traders who trade the house money and in the hundreds of millions. Nonetheless, I still believe that traders of all stripes will find The Psychology of Risk one of the better reads out there.
 
Quote from Gary Smith:

Ari Kiev's book The Psychology of Risk is one of only two books on trading psychology that I found worthwhile. The other is John Hayden's The 21 Irrefutable Truths of Trading. Hopefully I can include a third book to that list after I finish Brett Steenbarger's The Psychology of Trading. It looks promising, but it's a difficult read (at least for me) so it may take me some time to get through it.

What permeates throughout Dr. Kiev's book is how to be more profitable we need to get more uncomfortable by taking on more risk. I also like his quote about how the master trader has zero investment in the intellectual assessment of the facts or the analysis of the data.

I will say though that I can understand some of Dr. Kiev's critics when they say he has no comprehension of the psychology of trading as it relates to the average Joe trader who trades his own money. Apparently, his experience is working only with traders who trade the house money and in the hundreds of millions. Nonetheless, I still believe that traders of all stripes will find The Psychology of Risk one of the better reads out there.
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Gary you should read Trading In The Zone by Mark Douglas,thats definitely a worthwhile read.
 
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