The Champion Trader Mindset
In this part of the book, Mark teams up with performance coach Jairek Robbins to deal with the emotional baits that keep traders from achieving super performance.
A mental mindset is a great addition that the author has incorporated. Psychology is an underestimated part of being a trader. Anyone can do this task and be a successful trader, but not many have the devotion or the belief to accomplish it.
One can extensively increase their chances by actually changing their way of thinking. Any unwillingness to do so may cause a hindrance in the stock market.
Minervini emphasizes that trading is completely a business and if it is not taken seriously, then the person will be squeezed. Many investors are sold the dream, but they don’t accept the risk that is put on the shelf. One can make huge amounts of money in this business, but only if he earns it.
In all honesty, this book is for every type of trader. Be it a stock trader, a forex trader, an investor, beginner, day trader, or professional trader.
This book has something for everyone to turn themselves into profitable traders or substantially improve their performance.
New traders can learn about the basics of successful trading. They will discover why they have to cut their losses short, the importance of having a trading plan, the reasons why they should not diversify, the risk-reward ratio and also the basics of becoming efficient.
Advanced traders of any asset class and time frame will reveal how they can greatly improve their performance by scrutinizing the math behind their results. They will learn how to position their stop losses better and sell into strengths and weaknesses so that it makes mathematical sense.
Given the dramatically positive impact this book can have on trading, the reward-to-risk ratio of reading this book is extraordinarily skewed to the upside!