December 2009
Intermediate to advanced
208 pages
5h 33m
English
book
The Mental Strategies of Top Traders: The Psychological Determinants of Trading Success
by Ari Kiev
Content preview from The Mental Strategies of Top Traders: The Psychological Determinants of Trading Success
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
Chapter 1. Intellect, Instinct, and Guts: Understanding the Psychological Profile
At the age of 30, Charles Luckman was named president of the Pepsodent toothpaste company and later became president of Lever Brothers. Luckman knew from the age of nine that he wanted to be an architect but went into sales after graduating from the University of Illinois. Despite his great success in business, he eventually resigned from Lever Brothers to take up his architectural dream. From that point forward, he helped design such architectural wonders as the CBS Television City Center in Boston, the new Madison Square Garden in New York City and the NASA Manned Spacecraft Center in Houston. So, how did this businessman and architect who was once known as the "Boy Wonder of American Business" define success? "Success," Luckman said, "is that old ABC—ability, breaks, and courage."
Luckman's life was a remarkable demonstration of an amazingly simple yet complex formula for success, something that I have been searching for in my work with traders. For many years now, I have been trying to define the key ingredients of successful traders and portfolio managers (PMs) by exploring a range of personality strengths and weaknesses among them. To do this, I have asked such questions as:
What are some of the different combinations of traits that contribute to individual success stories?
How much "talent" is inborn, and what can be learned?
How can hedge fund managers recognize talent and capitalize on it? ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.