I actually listened to it as an audiobook. I have lately started to use audiobooks as it’s faster and more pleasant way for me to consume information. I can be out running and exercising or walking in the park and no need to stay in to read a book.
Anyway, Psycho Cybernetics by Dr. Maxwell Maltz is a great book about psychology, human behavior, the way mind works; basically about the flaws of human nature. It’s not specifically about trading, but nevertheless important information regardless of the field you’re in. It definitely got me thinking about my trading but also about life in general.
Dr. Maltz goes deep in how we see ourselves and create a self-image. We need to have some sort of a target in mind to express ourselves and then develop the necessary to reach these targets. He puts much emphasis on the self-image theory, how it can be a game changer whether we succeed or fail in our goal. He presents techniques to improve and manage ones self-image, rehearse and relax to visualize where we want to get and achieve results. The method is very popular today among motivational gurus, self-help teachers but also psychologists. The book was first published in 1960 and has been updated later but the knowledge and human factors remain the same thru time.
My key takeaways from this book are:
- Imagine your self-image in positive aspects. You need to like and be proud of your self-image.
- Success and happiness are habits just like failure and sadness are habits.
- Don’t be consciously anxious about every move, word or action being afraid of what might happen. Be in the moment and do whatever you’d unconsciously do.
- If you set goals, don’t look at them all the time, just follow the process and let things work out in time.
- Don’t worry or think about odds after placing the bet, the time to do this is before the bet. After the decision is made just relax and enjoy. Don’t care about the outcome.
- Don’t push happiness into the future, if you want to be happy you need to be now, not because of.
- React positively with intelligence to solving problems. Stick to your goals no matter what happens.
- Forgive to negative people and events in the past and forget about it. Life is about mental pictures of yourself and your future. Use it daily to unconsciously move towards your goals.
- Happiness and activity, strive for goals are part of a long and healthy life.
If you believe in self-help and mindset, want to step up to next level in your professional career, I think it’s a good read to understand what Dr. Maltz was working on already back in the 50s.
Psycho Cybernetics by Maxwell Maltz book link
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