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Trading with Crowd Psychology (Wiley Trading) Hardcover – 8 Nov 2000

3.7 out of 5 stars 3 customer reviews

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Product details

  • Hardcover: 272 pages
  • Publisher: John Wiley & Sons; 1 edition (8 Nov. 2000)
  • Language: English
  • ISBN-10: 0471387746
  • ISBN-13: 978-0471387749
  • Product Dimensions: 16.1 x 2.4 x 24 cm
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Bestsellers Rank: 400,140 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

Review

Gyllenram untersucht das Kaufverhalten von Anlegern verschiedener Weltmdrkte. Der Psychologe gibt Tipps, wie Anleger Fehler bei Investitionen vermeiden kvnnen. Financial Times Deutschland 17.01.2001

Review

"Investing is first and foremost a psychological process and good market technicians are really psychologists. Mr.Gyllenram understands this and his book offers deep insight into the psychology of the trading range, the area from which big moves–up and down–emerge."
––John Bollinger, CFA, CMT, President www.EquityTrader.com

"Every trader and investor will recognize themselves and their habits (good and bad) among the characters whose trading decisions are so vividly described in this book, and all should discover ways of improving those trading decisions. A very timely publication."
––Michael Smyrk, Global Coordinator, International Federation of Technical Analysts

"Carl Gyllenram takes a new approach in looking at the workings and importance of crowd psychology in the financial markets...(he) shows a clear understanding of the subject, providing a thoroughly useful addition to the writings on crowd psychology."
––Anne Whitby, FSTA, Vice Chairman, Society of Technical Analysts UK

"We are an emotional species and seldom more so than when dealing with money. It is this raw human factor which creates most of the volatility in all financial and commodity markets, not economics...With this book Carl Gyllenram has made an important contribution to the subject of Behavioral Technical Analysis."
––David Fuller, Global Strategist at Stockcube Research Ltd. and writer of the Fullermoney investment letter

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Customer Reviews

3.7 out of 5 stars
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Top Customer Reviews

Format: Hardcover
Interesting book for everybody who wants to enter the global crowd of investors. All conclusions are based on fictious examples of different types of investors, whose situations, changing moods, and behavioural jumps are described so realistically that a reader feels the same excitement.
Can help in developing of one's investment strategy.
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Format: Hardcover Verified Purchase
Gyllenrams book is interesting, but ultimately does not have much content. The book contains a fictious example of a trading period and the ups and downs experienced by the speculants and investors. Gyllenram describes the emotions of the market inhabitants, and their corresponding irrationalities. However, the book comes across as unscientific and the analysis of the situations described is shallow.
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Format: Hardcover Verified Purchase
Interesting - insightful. Good read.
If you know all there is to know about the stock market this is still useful as it helps to show what moves prices other than the fundamental news.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: HASH(0x99a717c8) out of 5 stars 10 reviews
5 of 5 people found the following review helpful
HASH(0x99ed4ab0) out of 5 stars This is a really good book 3 Dec. 2001
By Charlotte - Published on Amazon.com
Format: Hardcover
This is really a good book if you want to understand market psychology. The author makes a very thorough attempt to explain why and when crowd psychology arises in the market place. I would say that the work is pioneering. A lot of other books talks about psychology and that it is important, but this book really explains to you how it works. The author uses several fictious characters to describe how individuals are transformed in to a crowd and this is fascinating reading. If you want strict advice how to trade this may not be the right book for you, but if you realize that understanding crowd psychology will help you to be a better trader you should absolutely read this book.
3 of 3 people found the following review helpful
HASH(0x9a13cf9c) out of 5 stars This book really gave a new perspective... 5 Jan. 2002
By John Taylor - Published on Amazon.com
Format: Hardcover
This book really gave me a new perspective on the stock market. I wanted to understand why prices move up and down the way they do in the market and in other books I haven't got that knowledge. In this book however I found what I have sought after for a long time ; a explanation how people act in the market place and how their emotions affect their trading and therefore prices. For somebody like me, that really wants to understand market psychology this book was very valuable reading. If you are not intrested in psychology and instead are looking for new indicators this is the wrong book. But, if you have a desire to really understand crowd psychology in the stock market this is absolutely a book to read.
5 of 6 people found the following review helpful
By A Customer - Published on Amazon.com
Format: Hardcover
I reacted emotionally to the descriptions of fictional characters' emotions when faced with stocks that were rising or falling after their purchases, or their failures to purchase. We have all felt pangs when a purchased stock fell or when one we didn't buy moved rapidly higher. The discussion of the individual and the group reactions to these daily events was useful to me in my attempt to overcome my own inactivity when faced with a trading decision.
I also found the book helpful to me in understanding the psychology behind trading ranges and breakouts.
2 of 2 people found the following review helpful
HASH(0x99a9d174) out of 5 stars A Complete Insight Into Trading With Crowd Psychology 15 April 2003
By Tradingmarkets.com - Published on Amazon.com
Format: Hardcover
Market participants are often emotional and irrational in their decision-making -- much like any crowd. In fact, to understand crowd psychology is to better understand the financial markets.
So says Carl Gyllenram, author of "Trading With Crowd Psychology," a book that claims market analysis is more behavioral science than anything else. While allowing that economic information and fundamental changes produce major market shifts, he believes that the conformist (and predictable) behavior of market participants -- the crowd -- is what usually drives price action.
Some traders and investors react late to changes in the market because they rely solely on fundamental and economic information available to everyone else. Others may use use technical analysis -- but end up trading off of conflicting indicators and/or stereotyped chart patterns.
Chart patterns are "people patterns," says Gyllenram, reflecting the behavior of everyone buying and selling in the markets. A successful technician understands the psychological dynamic (hesitancy? panic? resignation?) at play within these patterns, most all of which, he maintains, are simply variations of a trading range. Markets most often move laterally, with little significant price movement up or down.
An intuitive feel for market psychology helps the trader or investor understand how these trading ranges are structured.
Of particular interest to me were "balance points" -- those price levels at or near the top and bottom of a trading range that serve to predict a powerful price breakout. "You can never be sure," he says, "when a range will be broken or what direction a breakout will take. But trading with an understanding of crowd psychology and the ability to identify balance points certainly increases your odds. The important message you need to be able to read in a chart is when a clear change of the psychology is taking place. You must understand that the creation of a balance point is a powerful indication that the behavior of the market majority has shifted."
Gyllenram uses a clever approach to help us understand ( and profit from) the phenomenon of crowd psychology as it relates to market analysis: He uses a number of characters, each representing a different "category" of investor who own positions above a trading range (after a long uptrend), as well as below it (after a steep decline). What all have in common are emotional patterns of crowd behavior formed after large price movements (up or down) that make people nervous, excited or otherwise irrational.
Which character will remind you...of you?
12 of 16 people found the following review helpful
HASH(0x9a9f863c) out of 5 stars little value 1 Feb. 2001
By A Customer - Published on Amazon.com
Format: Hardcover
the psychology of trading is an extremely important subject. the author however attempts to explain certain occurences of trading range breakouts using fictional characters and situations, resulting in a book that is slow and repetitive, and has little practical value for the active investor. the author could have quite easily summarised his thoughts in a short magazine article, rather than a 250 page....
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