I am currently writing an updated version of my Trading Psychology 2.0 book. An important part of the update is a review of the major works of great traders over the past decade or so. Over the past month I have immersed myself in all the Market Wizards books, as well as books written by such Wizards as Linda Raschke and Mark Minervini. When I encounter an important insight, I bookmark the text. When I finish the book, I review all the bookmarked passages.
Day after day, reading the greats and about the greats, we begin to internalize their lessons. The first step in building a career in trading is surrounding yourself with trading greatness. That could be in a legit trading community, and it could be by immersing ourselves in the works of successful traders. Once we learn about their psychology and approaches to trading, we can begin to emulate their best practices. A great place to start that phase of our development is The Trader's Handbook: Winning Habits and Routines of Successful Traders by Richard Moglen, Nick Schmidt, Ross Haber, and Ameet Rai. It includes a discussion of "the trader's journey" and details steps in successful trading, from "entry tactics and trade execution" to "sell rules and position management" to "post analysis and trading rules".
Great trading begins with great mentoring. There is an amazing set of resources out there. The first challenge is to establish your curriculum and draw upon the passion and drive of the best traders to find the best within you.
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