The Winning Edge: How to Use Your Personal Psychological Power to Succeed in Trading and Investing

Authors Jake Bernstein and Adrienne Toghraie present their combined works in this handbook to assist traders in avoiding the psychological pitfalls in trading, to build on the resources they have already developed and to use as a reference when they need a guiding hand.

They have combined their thirty-five years experience in the investment world as writers, lecturers and counselors to present the The Winning Edge. Their articles on the psychology of trading have appeared in the most widely read trading magazines and newspapers around the world. They present their combined works in this handbook to assist traders in avoiding the psychological pitfalls in trading, to build on the resources they have already developed and to use as a reference when they need a guiding hand.

TABLE OF CONTENTS

Section One: Psychological Issues for Traders

Chapter 1: Trader Psychology
An Overview of the Issues for Traders
Jake Bernstein 25

Chapter 2: Self Sabotage
The Trading Saboteur
Adrienne Laris Toghraie 31

Chapter 3: Emotions vs. Logic in Trading Man vs. Machine vs. Monkey
Jake Bernstein 37

Chapter 4: Emotional Volatility
The Emotional Boomerang
Adrienne Laris Toghraie 41

Chapter 5: Emotional Addictions
Romancing the Market
Adrienne Laris Toghraie 49

Chapter 6: Negative Emotional States
The Slump and How to Pull Out of It
Adrienne Laris Toghraie 55

Chapter 7: Emotions vs. Markets
Markets, Emotions, History and You
Jake Bernstein 61

Section Two: Advancing Trading Performance

Chapter 8: The Psychology of Day Trading
Disciplining the Most Speculative Activity
Jake Bernstein 65

Chapter 9: Psychology of Rules for Traders
Developing a Personal Code
Jake Bernstein 71

Chapter 10: The Psychology of Trading the News
Understanding Market Response to News
Jake Bernstein 75

Chapter 11: The Psychology of Trading Systems
"Mechanical" vs. "Thinker" Traders
Jake Bernstein 79

Chapter 12: The Psychology of Economies
How Markets Affect Behavior
Jake Bernstein 83

Section Three: Character Issues for Trader

Chapter 13: Discipline
Maximizing Profits, Minimizing Losses
Jake Bernstein 87

Chapter 14: Self Discipline -- Part I
Prelude to Discipline
Adrienne Laris Toghraie 93

Chapter 15: Self Discipline -- Part II
Seven Steps to Discipline
Adrienne Laris Toghraie 99

Chapter 16: Losses
The Reverse Psychology of Losses
Jake Bernstein 109

Chapter 17: Trust
Trust Builds Relationships to Support Trading
Adrienne Laris Toghraie 115

Chapter 18: Courage
The Courage to Succeed
Adrienne Laris Toghraie 121

Chapter 19: Commitment Managing the Trade-Offs
Adrienne Laris Toghraie 127

Chapter 20: Action
Pulling the Trigger
Jake Bernstein 135

Section Four: Strategies for Overcoming Trading Barriers

Chapter 21: Overcoming Negative Behaviors
Implementing Appropriate Behaviors
Jake Bernstein 139

Chapter 22: Overcoming Fear
Strategies for Overcoming Fear
Adrienne Laris Toghraie 147

Chapter 23: Overcoming Resistance
How Flexibility Expands Opportunity
Adrienne Laris Toghraie 153

Chapter 24: Overcoming Conflicts in Trading
Negotiating Internal Agreements
Adrienne Laris Toghraie 161

Chapter 25: Overcoming Group Thinking
Grist for the Mill
Jake Bernstein 167

Chapter 26: Overcoming Information Overload
The Value of Ignorance
Jake Bernstein 173

Chapter 27: Overcoming Market Sentiment
Daily Sentiment
Jake Bernstein 177

Chapter 28: Overcoming Trading Barriers
Systems and Traders
Jake Bernstein 183

Chapter 29: Overcoming Losses
Handling the Inevitable
Jake Bernstein 189

Chapter 30: Overcoming Trader Burnout
Recharging The Human Machine
Adrienne Toghraie Laris 195

Section Five: Profiles of Successful Traders

Chapter 31: The Average Trader
Celebrating the Unsung Heros
Adrienne Laris Toghraie 203

Chapter 32: The Institutional Trader
Winning at a Losing Institute
Adrienne Laris Toghraie 209

Chapter 33: The Optimist Trader
The Appropriate Outlook
Adrienne Laris Toghraie 217

Chapter 34: The Uptrend Trader
A Positive Trend is Your Friend
Adrienne Laris Toghraie 225

Chapter 35: The Supported Trader
The Trader's Spouse
Adrienne Laris Toghraie 231

Chapter 36: The Whole Brain Trader
Integrating The Left Brain/Right Brain
Adrienne Laris Toghraie 237

Chapter 37: Concluding Remarks About Trader Psychology
Jake Bernstein 243