The Disciplined Online Investor: A Guide for Day Traders and Short-Term Speculators

Dr. Hendlin's book should be found on every serious investor's bookcase. The increased volatility in today's markets demands a psychological reference targeted specifically to investors. The "Fear and Greed Trilogy" section of the book provides an excellent framework for understanding emotions and actions during dramatic market movements, both up and down. Investors will find that this book hits home!

Hendlin's new book is simply the best at addressing the mental and emotional aspects of trading that has yet appeared in the trading literature. He is the first to look at moment-to-moment thoughts, feelings, images, and fantasies which arise while one sits at the monitor watching quotes and executing trades. I found much of value in his analysis of such topics as balancing fear and greed; not getting caught in perfectionistic thinking; learning the yielding method of self-control; dealing with the information overload; and what the thinking of short-term traders has to offer long-term investors. In addition, Hendlin offers readers a typology of trading styles according to personality types that will be of benefit for all those who have never considered how their personality relates to their trading style. This book is easy to read, not requiring a background in psychology to make use of its concepts and tools. Hendlin offers numerous examples from his own trading experience that make the concepts come to life. His willingness to share some of his own trading mistakes and explain them in psychological terms adds to his presentation. The author might have included some graphs to help make some of his examples more obvious. This book is not for those who are looking for a primer of trading systems,or technical or fundamental stock analysis. Nor is it aimed at those seeking simple answers to difficult questions. But it will defintely make you re-think some of your basic assumptions about the trading game.I now have a greater appreciation for the complicated and vital role of the mental side of trading. The book jacket maintains this is a "one-of-a-kind" book in the investing world. What I initially thought had to be hyperbole ended up being accurate. I've never read one quite like this before. And it has the single best cover graphic on an investment-related book I've ever seen. Highly recommended to both active traders and serious long-term investors.

Dr.Hendlin's new book on the psychology of online trading hit the spot with me.It was just what I was looking for. He offers relevant and useful psychological concepts to help both short-term traders and long-term investors deal with the strong emotions and wild thoughts that are part of the online trading experience. The book is written in a smooth conversational tone that makes digesting the ideas presented easy even for those with little psychology background. Hendlin does an excellent job of presenting a fair and balanced view of such issues as: dealing with fear and greed; feeling in control of emotions; how to create a home trading environment that is optimal for trading; and how not to get caught in trying to be a perfectionistic trader. What I really liked about this book is that the author does an admirable job of addressing the most important issues for both short-term active traders as well as long-term investors. Hendlin made me more aware of how fantasies and inner chatter affect my trading. He offers numerous exercises for readers to help them become more aware of themselves while trading. This is the first book on the psychology of trading that I didn't put down because it was boring or because if offered only obvious platitudes by traders with no real background in psychology. This guy definitely knows what he is talking about. I would have liked the author to share more of how Eastern thinking relates to trading--a topic he teases us with but to which he only devotes the final chapter.