Thread: Investment Psychology Explained: Classic Strategies to Beat the Markets

Expert advice in a back-to-basics handbook on how to beat the market—the classic way
In Investment Psychology Explained Martin J. Pring, one of the most respected independent investment advisors in the world, argues that in the revisionist '90s there are no quick, magical paths to market success. Rather, he emphasizes the timeless values of hard work, patience, and self-discipline—and much more. Drawing on the wisdom of creative investors such as Jesse Livermore, Humphrey Neill, and Barnard Baruch, as well as his own experience, Pring shows how to:

Overcome emotional and psychological impediments that distort decision making
Map out an independent investment plan—and stick to it
Know when to buck herd opinion—and "go contrarian"
Dispense with the myths and delusions that drag down other investors
Resist the fads and so-called experts whose siren call to success can lead to disaster
Exploit fast-breaking news events that rock the market
Deal skillfully with brokers and money managers
Learn and understand the rules that separate the truly great investors and traders from the rest
Reading Investment Psychology Explained will give you a renewed appreciation of the classic trading principles that, through bull and bear markets, have worked time and again. You'll see, with the help of numerous illustrative examples, what goes into making an effective investor—and how you can work toward achieving that successful profile.



Contents
Introduction
PART I KNOWING YOURSELF

1. There Is No Holy Grau
2. How to Be Objective
3. Independent Thinking
4. Pride Goes Before a Loss
5. Patience Is a Profitable Virtuc
6. Staying the Course
PART II THE WALL STREET HERD

7. A New Look at Contrary Opinion
8. When to Go Contrary
9. How to Profit from Newsbreaks
10. Dealing with Brokers and Money Managers the Smart Way
PART III STAYING ONE STEP AHEAD

11. What Makes a Great Trader or Investor?
12. Nineteen Trading Rules for Greater Profits
13. Making a Plan and Sticking to It
14. Classic Trading Rules
Bibliography
Index



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