Guys need some advice

My trading psychology is totally weak you tell me which book is good to help me strengthen it


Best Loser Wins by Tom Hougaard


I suggest searching babypips.

There is also an entire section dedicated to psychology! Lots of good stuff already there, just waiting for you!

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I wouldn’t get too hung up on the psychological impact and obstacles in trading. Its possible to take a broader perspective - if something is really hard to do, perhaps its the wrong thing.

I don’t mean trading, I mean trading like you are trading. In particular day-trading is very hard psychologically as well as just plain difficult to do.

Or maybe you have a whole box-full of complicated strategies? That’s going to be stressful.

Or maybe you have a solid strategy but you just haven’t put it into practice enough yet to be comfortable with what price can do after you enter?

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This one really is a new masterpiece, right up there with Trading in the Zone


I haven’t read it yet - didn’t know he’d written one - but I used to rely on his advice and knowledge 20 years ago ! - must get it ! :sunglasses:

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Bought it ! - Thanks to @Johnny1974 and @BBFx27 :smiley:


Oh yes @Falstaff you will enjoy it - I promise! :sunglasses:

I don’t doubt it @Johnny1974 - Last time I met Hougaard in person - I paid £500 to go on a two day course he was running ! - He was “Chief Tactical Trader” for City Index at the time IMS - and he had just been called onto Bloomberg to explain how he was the only person able to forecast the exact day of the turning from Bear to Bull (on Bloomberg TV - a full year in advance) on the end of the “DOT-COM” bust - a bear market which had been running for 3 full years (about 2003 I think) - he was quite evasive and “esoteric” - biut when I asked him in Private - he told me ! how he had done it ! - quite strong on Gann squares and Sacred Geometry at the time ! - It’ll be great to see how his ideas have progressed - I’m really looking forward to reading it ! :partying_face:


You beat it with the right quant software. Understanding everything, setup right = a+++ trades. That is how I beat the issue of doubt and second guessing. Now I do no have these issues anymore. Probabilities, statistical understanding, context etc all setup by my software. You can manually trade or go full automated with complex dynamics. Risk protection in multiple ways too. I developed my software for the most important part to conquer ones inner demons! we all carry them lol

@Falstaff I think you will find he has changed a bit, he thinks Gann was a crackpot!

Must have been great meeting him all those years ago. I’m in his Telegram group, he live trades everyday London open and US open. He’s a very aggressive trader, a bit too aggressive for some! A very genial personality, a good educator and makes everyone feel like a personal friend. He won’t mind me saying this - his jokes are crap though ! :rofl:
Enjoy your reading.


Also, The Zen Trader by Peter Castle is excellent.

For you short term traders - this book works !

BUT - it is no good for newbies as it assumes a knowledge level which you do not have !


Oh - and there is no way you can make an EA out of it :wink:


Try to start afresh and find out your all lacking and work on them. You can take some advice from expert traders if you need.

Everything else are just bs.

Sometimes I think foreigners just don’t understand jokes ! - one of my ex-wives was from USA & they don’t “get” our sense of humour either !

Anyhow - the book arrived this morning and I’m really looking forward to it !

I’ve read the first couple of pages “DEAR MARKETS” - and I’m liking it !

Tell me - does he trade Forex ? or Just “the Dow” - I Suspect he’s gone onto S&P with level 2 access - but no doubt I’ll find out - What about commodities ?

All the best


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Hi @Falstaff Great that you are getting into the book.

In Telegram he only trades Dax, FTSE, Nasdaq and Dow. He did have a separate swing channel for FX but stopped that twelve months ago. Sometimes he will say he has a position on Gold or Bitcoin but he doesn’t really publish these.

I’m not a bloody foreigner, calm down. In fact I’m a scouser (I don’t tell many people that though) :wink: His jokes are real crap.

German joke -
Customer at German farmer’s market “Two pounds of tomatoes, please”
Farmer “That’s called a kilo”
Customer “When did you stop calling it tomatoes?”

He has a thing about Germans, he is Danish.
Another -
Teacher “Where was the peace treaty of 1806 signed?”
Little Fritz “Bottom right?”

We just have to put up with his jokes and he knows it :rofl:

Perhaps I’m a bit slow tonight and you were infaring his jokes were bad because he’s a foreigner :confused:

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Soz if you got the impression I was speaking of you - I was referring to “the TOM” - as you say later - Danish !

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Write down the mistakes that you make in a trading journal and stop making them.