The Psychology of Risk: Mastering Market Uncertainty
Author: Ari Kiev
List Price: $39.95
Our Price: Click to see the latest and low price
ISBN: 0471403873
Publisher: John Wiley & Sons (15 March, 2002)
Sales Rank: 47,581
Average Customer Rating: 4.4 out of 5
Customer Reviews
Rating: 3 out of 5
Good for Short Term Traders, but...
Kiev's thesis rests upon the premise of setting profit goals and then trying to hit them. The idea is that you will be compelled to refine everthing about your trading and put away all excuses in order to reach this goal -- a sort of goal as catalyst for improvement theory. While this seems like good advice I am afraid that for longer term traders it runs headlong into the "only take what the market gives you" truism. If I set a goal of $10,000 per month, what do I do when the market goes nowhere for four weeks? You guessed it, I would try to force things. Not good. So unless you are willing to accept the thesis of setting specific profit goals you won't gain that much from this book. A much better treatment of general trading psychology can be found in Mark Douglas' "Trading in the Zone".
Rating: 4 out of 5
Fast read; informative and helpful. Kiev's best
This was definitely Kiev's best book yet. What made the difference between it and Trading to Win was that it was actually helpful and laid out a course of action. Trading to win was chockful of examples but you were unsure of how you fit into it.
The book is full of little tests to determine what type of trader you are. Unfortunately he is not big on advice you sorta figure that out yourself after reading so many pages of what's your best course of action.
The downside to the book though is the Master Trader section which sorta drones on.
Still his best.
Rating: 5 out of 5
homerun
....another 5* piece created by Dr. Kiev. The Psychology of Risk is an excellent tool to improve and build on one's trading technique. whether a novice or an expert, psychology of risk is a must read for all levels... Similar Products
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