Undiscovered books traders never talk about (but probably should) – Part 1

Last week I shared a recommendation for a book that has alot of applications for traders, even though it’s not a “trading book.”

I also asked for recommendations of other ‘undiscovered gems’, either trading books that are forgotten or not well known, or books that aren’t really about trading at all but still have value for traders.

I received quite a few interesting recommendations that I’d like to share with you but I’ll just reveal 5 now and share more another day.

As one BST listener rightfully said, some of these books “… have nothing to do with trading but they also have a lot to do with trading…” so, here are 5 book recommendations (in no particular order) from Better System Trader listeners:

“Thinking In Bets: Making Smarter Decisions When You Don’t Have All the Facts” – Annie Duke

Amazon says: Poker champion turned business consultant Annie Duke teaches you how to get comfortable with uncertainty and make better decisions as a result.

“A new book that I think is very important but still undiscovered” – J.C

“The War of Art: Break Through the Blocks and Win Your Inner Creative Battles” – Steven Pressfield

Amazon says: Bestselling novelist Steven Pressfield identifies the enemy that every one of us must face, outlines a battle plan to conquer this internal foe, then pinpoints just how to achieve the greatest success. The War of Art emphasizes the resolve needed to recognize and overcome the obstacles of ambition and then effectively shows how to reach the highest level of creative discipline. 

Definitely not a trading book but some great ideas about what it takes to be a “professional.” I think it’s brilliant.– J.C.

“Thinking, Fast and Slow” – Daniel Kahneman

Amazon says: Daniel Kahneman takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think… The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions.

“Super forecasting: The Art and Science of Prediction” – Tetlock and Gardner

Amazon says: Superforecasting offers the first demonstrably effective way to improve our ability to predict the future—whether in business, finance, politics, international affairs, or daily life—and is destined to become a modern classic.

“Mind Traps: Unlocking the Key to Investment Success” – Roland Barach

Amazon say: You are biologically “wired” to lose a great deal of money in your lifetime. Most people will ignore this warning and self destruct, yet the solutions to “secure” investing are in this book.

A very good book I found by accident in a small bookstore – D.A.

So if you have some time this Easter holidays, why not check out one of these books.

And have an eggs-ellent Easter (hahaa, couldn’t resist!)

Cheers,
Andrew.

PS. If you have any recommendations for ‘undiscovered’ books that apply to trading, email me and I’m add them to the list to share at a later date.

Released:

30 March 2018