Reviews for Sources: Notable Selections in Psychology

The average rating for Sources: Notable Selections in Psychology based on 2 reviews is 5 stars.

Review # 1 was written on 2013-07-06 00:00:00 Magali Rey-le Lorier THE LIQUIDITY AND PRICING MECHANISM THAT MAKES IT SO EASY TO ENTER THE FINANCIAL MARKETS HAVE THEIR DOWNSIDE: THEY LITERALLY TRY OUR PATIENCE. The redeeming concept of hope is one of the greatest obstacles to clear thinking and maintenance of objectivity. Beating ourselves means mastering our emotions and attempting to think independently. Decisions based on our natural instincts invariably turn out to be the wrong course of action. Hard work, common sense, patience and discipline are valuable attributes to smart investing. People, it seems, tend to repeat past mistakes but those of the most recent past. Overcome the fear of missing out and look for the next train, as there will always be another one. Investors who have had a run of success have a tendency to relax and lower their guard because they havent recently been tested by the market. Watching price quotations constantly is a sure way of losing LT perspective. One mistake is to deviated from an investment plan temporarily. With a mania/bubble a surplus of funds exists alongside a shortage of opportunities. The broker sits in the crowd. Successful investors know that if they carry psychological baggage their goals will be unattainable, so they make continuous effort to improve themselves by observing themselves.

Review # 2 was written on 2015-11-30 00:00:00 Tristin Walerko A good read about how to manage and control yourself as an investor or trader. It has useful nuggets about knowing yourself, controlling your emotions, and not following the crowd. Useful tips also on how to be a contrarian. However I found the book lacking depth and independence of opinion. It gathered a lot of different insights and perspectives from other books and investors that I came across before. So it’s good for beginners or those that want to have an overview of the topic. Also it was not appropriate to bundle investors with traders. While we both invest in the same market we have completely different strategies. It’s like making a book on karate and Kung fu as they are both fighting skills. So this would be helpful if someone is trying to make up his or mind if they want to trade or invest. Thanks a ton to the author and for helping out.