It is written into market lore that the world of investing is driven by fear and greed, of which fear is the stronger emotion. However, we all have different sensitivities to emotions and different triggers that will stimulate our emotions.
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http://icf.som.yale.edu/research/behav_finance.shtml One of the few Internet sites that go deeply into the psychology of investors. Several research papers on the subject can be found at this Yale University site.
http://www.abg-analytics.com/ provides links to advanced papers on finance and investing including one titled “Can Individual Investors Beat the Market”, available in the Social Science Research Network Electronic Library. The answer, incidentally, was “Yes”.
http://www.behaviouralfinance.net/ has many interesting articles with an unusual 100 phrase index.
http://www.borsellino.com/ has an article about the five emotional stages of trading – confidence, euphoria, self-doubt, despair and redemption.
http://www.clearstation.com/ The Portfolio Management PDF in the Education section points out that even experts pick a large percentage of losing stocks, but make money because of their better risk management.
http://daytrading.about.com/ includes articles on money management, discipline, and Becoming a Day Trader .
http://www.day-trading-mind.com/ has a free ebook and a few very short articles that offer useful advice.
http://www.getfolio.com has a couple of dozen articles that contain useful advice including one on money management. It starts that one by saying “The most important aspect of your trading is money management”.
http://www.nybotlive.com The New York Board of Trade has an audio-visual tutorial on “How To Trade Futures”. It deals with discipline, money management, and the psychology of trading which is equally applicable to stock market investors.
http://www.pring.com in its Traders Den – Educational Editorials and Excerpts section has several articles on topics such as “Knowing Yourself”, “How to be Objective” and “Staying the Course”, which all relate to money and risk management.
http://www.realitytrader.com/ has interesting observations in its Position Trading Tutorial.
http://www.schaeffersresearch.com/ has plenty of interesting and educational articles, including some on the topic of money management.
http://stta.server101.com/ has a page of Trading Tips that includes some on managing an investment.
http://www.tradingarticles.com/ Several articles on the psychology of trading can be found here. In particular the article “Aiming For The Right Target in Trading” by Walter T. Downs that answers the question “What is the difference between a winning trader and a losing trader?” with 11 observations is worth reading.
http://www.turtletrader.com/ has plenty of brief articles covering a broad range of similar subjects - trend following, psychology and behavioral finance, trading systems and market wizards being among them. In the article on indicators James Bryant Conant points out that money management makes up the bulk of a winning trade system.
http://www.turtletradingsoftware.com/ Money management, psychology, newbies corner and other discussion threads are offered. The site also gives away the original turtles’ trading rules.
http://www.walterbressert.com/ also has a good article on money management under Free Stuff. If you have read this book from the start you will know the importance that we too place on money management.
More extensive education on trade management, money management, risk management, attitude, discipline and behavioral finance is available in books available from Amazon and from specialty online, investment booksellers such as http://www.traderspress.com/ http://www.tradersgalleria.com/ and http://www.traderslibrary.com/
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