5 Non-Trading Books All Traders Should Read

Here are 5 books that have nothing to do with trading (and only 1 has to do with money or business success) that every trader should read. These books should be required reading for anyone who currently trades or is interested in trading. I assure you that you'll get more out of reading any of these than the majority of trading books that are out there. Here they are:

1. The Inner Game of Tennis by W. Timothy Gallwey

A ground breaking book that was originally published in 1974, this book will teach you how to learn. The book was written about tennis but as with all great books, it could just as easily be applied to anything else including life in general. From the conscious vs. the subconscious, quieting the mind, and the destructive power of negative self talk, Mr. Gallwey walks you through the essential aspects of a mindset that enables learning and mastery.

2. Golf is Not a Game of Perfect by Dr. Bob Rotella and Bob Cullen

Why is it that sports books make excellent trading books? Because competitive sports and trading have many things in common, especially when it comes to the mental/internal side of sports and trading...and that's about 90% of trading success. Learning to accept a bad shot (trade) and moving on..the importance of staying in the "now" and not focusing on the past or the future..hitting this ball to get the best position with no regard to the current score (read "managing this trade to take what the market is making available with no regard to your P&L). These are just a few of the gems that you'll get out of this book. I would recommend this book to not only traders who aspire to grow and get better, but also to anyone as a general guide to life.

3. Think and Grow Rich by Napoleon Hill

A timeless classic written in the 1930's and it's just as relevant today as it was then. Commissioned by Andrew Carnegie, this book sets out the philosophy that Mr. Carnegie felt was the secret to his success. Some key aspects of this book are that it drills into the reader the importance of having a well defined plan with corresponding definite goals and a subconscious mind that not only expects the goals to be achieved, but already believes they are a certainty. If you haven't read it yet, go buy a copy because it's certainly well worth the $8 price tag and the time spent reading and re-reading it.

4. 10-Minute Toughness: The Mental Training Program for Winning Before the Game Begins by Jason Selk

I picked this one up after I heard Linda Bradford Raschke recommend it in one of her presentations and it's a good one. Mr. Selk will help you come up with "Performance Statements" to help you stay focused and he'll show you how to utilize visualization techniques to train your mind by visualizing various scenarios and how you will react to them. Furthermore, this book helps with goal setting and staying solution focused, two elements that are key to growth and consistent performance with anything.

5. The Art of Happiness by The Dalai Lama and Howard Cutler

Face it, if you're not happy in life then you won't be happy trading. Trading doesn't bring happiness but this book will explain what does or can. There are literally hundreds of other books that could fill this same spot on the list (like: 7 Habits, Psycho Cybernetics, Change Your Mind Change Your Life, the Bible, etc.) but I put this one on it because I like the eastern view that the Dalai Lama presents. We could all benefit by applying the Dalai Lama's general outlook to our trading.

There you have it. 5 non-trading books that I can almost guaranty will improve your trading..I say almost because you are the essential element in the equation and you have to be ready to be willing and honest for change to happen. These books will help you if you're ready, they certainly have helped me.

TLT