An exceptional psychological handbook for traders to identify and resolve some of the major issues which sabotage... their success. -- Adrienne Laris Toghraie, MNLP, MCH, President of Trading on Target

Commitment, beliefs, emotions, conflict resolution and environment are just a few of the critical topics covered in interesting new book. -- Van K. Tharp, Ph.D. & Author

Commitment, beliefs, emotions, conflict, resolution and the environment are just a few of the many critical topics covered. -- Van K. Tharp, PhD. and author

Explanations are clear and concise, but her techniques are brilliant! This book is a real credit to the industry. -- Mark Douglas, Author of The Disciplined Trader

This new book, no pun intended, is an exceptional contribution to the collection of literature dealing with the development of the proper mindset and mental attitude needed in order to trade successfully and profitably. The practical value of this work is greatly enhanced by the fact that it is authored by a seasoned trader of longstanding experience. Author Ruth Roosevelt is exceptionally well-qualified to offer guidance to other traders, as she herself has extensive trading experience and is to this day an active trader. Her experience covers trading in multiple markets (currencies, T-Bonds, stock indices, mutual funds), and in multiple time frames, down to a-minute bar charts. She has spent many years in the brokerage industry, and has written extensively for "Stocks and Commodities" Magazine.

It is my longstanding opinion that most traders seriously neglect the psychological aspect of trading, in favor of spending most of their time and energy in pursuit of a profitable trading method or system, without regard to whether or not it suits their personality or temperament. While most traders, especially inexperienced ones, shortchange the mental aspect of trading, those who have accumulated more knowledge and experience gradually come to realize that attitude and outlook have a great influence over their trading results. For those traders who wish to develop the necessary attitudes to trade and to win consistently, this book offers a valuable resource. Roosevelt, because of her own extensive trading experience has developed a high degree of understanding of what is necessary to develop winning attitudes, and imparts it to the reader in an effective way in her book. She is an exceptionally articulate and lucid writer, which is especially important when dealing with a subject which is difficult to quantify and to explain in a manner that is easily grasped by the reader.

One aspect of Roosevelt's approach that especially appeals to me is its positive nature. Many writers on the psychology of trading speak of trading in terms of conflict. For example, they say you are "doing battle" with the market, that you need to develop skills like those of a Samurai warrior, that you are in constant danger when trading, etc. Roosevelt instead portrays trading as a positive oportunity, and suggests that, instead of "battling" the market, that the trader "become partners" with it, and that they should want what the market wants. While some may find more beneficial guidance from the battle metaphor, I personally find Roosevelt's attitude and approach more likely to lead me in a productive direction.

The scope of subjects covered is wide. The mental commitment to trading excellence, and the relentless power of beliefs are shown to have a major contribution to a winning attitude. The attributes, attitudes, and mental strategies of winning traders are examined in detail, and are illustrated through fascinating interviews with superior traders such as Linda Bradford Raschke, Michael McCarthy, and Max Ansbacher. Psychological portraits of winning and losing traders are compared and contrasted. Various conflicts and emotions that present an impediment to trading success are examined, with practical solutions and exercises given to overcome these roadblocks to trading success. The problem of ego involvement is examined in depth, and the reader is shown how to uncouple ego from trading. Physical aspects, such as relaxation, trading environment, nutrition, etc., are shown to have an important influence. Learning how to deal with periods of adversity, drawdowns, using mistakes to grow, developing consistency, turning failure into feedback, and many other aspects of the "mind game" are covered, and the reader is shown strategies for immediate use in his own trading.

This book is a major positive contribution to trading literature and is highly recommended to those who wish to develop the winning attitude which is a prerequisite to successful trading.

Reviewed by Edward Dobson, author and publisher

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