2026-01-04 17:31:11

To pursue a professional trading path, you must first lay a solid foundation. I have been recommending two must-read books, one on mindset and one on execution.

First, let's talk about "The Psychology of Money" by Morgan Housel — an essential read for building a trading psychological framework. Many people fail in trading not because of technical issues, but because they haven't established the right mindset. This book helps you build that psychological framework, allowing you to stay rational amidst market fluctuations.

With the right mindset, execution can keep pace. Both are indispensable. If you are serious about making breakthroughs in trading, you need to put effort into both aspects. Most people stumble at these two stages because they focus on only one.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

23 Likes

Reward
23
10
Repost
Share

Comment

0/400

Web3Educator

· 01-07 13:35

ngl, psychology of money is clutch but lemme tell you—i've seen *so many* students nail the mindset part then just... completely botch the execution lmao. like it's wild how that happens. fundamentally speaking, most people get the theory down but can't actually stick to the plan when real money's on the line, u know?

Reply0

ZenZKPlayer

· 01-07 00:50

Hmm... That's true, but I realize most people haven't even taken the first step. They've read a bunch of mindset books, yet still lose money. What's the problem? Execution, or rather, the inability to execute. It's easiest to just talk about plans on paper. These two books are good, but honestly, most people get stuck in the gap between "knowing" and "doing." Compared to reading, I actually recommend starting with small real-money trades to gain practical experience. Nothing beats that understanding.

View OriginalReply0

PortfolioAlert

· 01-06 12:59

Maintain a strong mindset and execution on both fronts, or it's all in vain. --- That's right, most people fail due to their mindset; skills and techniques are secondary. --- Psychological resilience is indeed the easiest to overlook. I'm a living example, haha. --- I've read both books, but the key is to actually implement them. Knowing is easy, doing is hard. --- If your mindset collapses, even the best strategies are useless. --- Housel's book is really good, but it seems many people read it and still can't change. --- People with poor execution ability, reading ten books won't save them. --- Good mindset + steady execution = making money? Think again. --- I'm just afraid that after reading, things stay the same. It's not a lack of knowledge but self-control. --- Both dimensions need to be pushed hard; the difficulty is maxed out.

View OriginalReply0

ETHReserveBank

· 01-04 18:01

Forget it, it's the same old story. While it's true, it's a bit cliché; how many people can really implement it? --- The mindset is indeed a bottleneck, but honestly, most people don't have the patience to read through it all. --- Execution is the real killer, technology is actually a minor issue. --- Wait, what are these two books exactly? I want to see if I've read them before. --- Nine out of ten people who post this probably haven't stuck with it themselves haha. --- I have "Psychology of Money," and it’s really helpful, but you need to read it repeatedly. --- That's very true; there's a huge gap between knowing and doing. --- Both are important, but the core is still having a trading system. Without that, it's just talk about mindset.

View OriginalReply0

StablecoinArbitrageur

· 01-04 17:59

honestly, the psychology angle is half the battle but you're still missing the real edge — most people read housel and think they've cracked it, meanwhile order book depth and liquidity imbalances are literally printing money in real time. focus on both sure, but that's table stakes, not the differentiator.

Reply0

DegenTherapist

· 01-04 17:49

That's right, mindset is really the Achilles' heel for most people... I used to focus only on technical indicators, but after a market downturn, my mindset collapsed. The book "Psychology of Money" is definitely worth reading, but just reading without practice is useless. You need to truly hone your skills in real trading. A combination of mindset + execution is the key to longevity; otherwise, you'll eventually be taught a lesson by the market. Have you finished both books? Which one has helped you more? Are there still people relying solely on technical analysis to make a living? It's high time to realize that psychological resilience is the core competitive advantage. Honestly, there's a huge gap between knowing and doing... Truly stable traders with a calm mindset are rare. Both dimensions need to be balanced, which sounds easy but is deadly to implement. Your approach is spot on. The only concern is that some people might read the books but still can't change their gambler's mentality. Execution ability is indeed underestimated; having a complete system and discipline is the way to go.

View OriginalReply0

AirdropHunter9000

· 01-04 17:44

Mindset and execution, that's right, but most people still have their mindset collapse first haha The Psychology of Money is indeed excellent, but I find that only a few people who finish reading actually change their bad habits Both need to be practiced, it sounds simple but doing it is hell... I've read this book, it's well explained, but execution is always the hardest part A good mindset framework is very important, but in real practice, it's easy to get slapped in the face; you have to go through it to understand Honestly, most people can't even take the first step steadily, let alone have both dimensions in place It hit a nerve, I am the kind whose mindset isn't well established Execution is the key, having a good mindset is useless if you don't really take action I need to catch up on the first book of these two That's right, but knowing is easy, doing is hard; trading is truly a form of cultivation

View OriginalReply0

BTCBeliefStation

· 01-04 17:40

That's right, mindset is really the ceiling of trading. I used to be obsessed with technicals, but in the end, I lost a lot because I didn't keep up with psychological preparation. I should have established a mindset framework first; it's more effective than any K-line technique. This book needs to be thoroughly read, not just glanced at and finished.

View OriginalReply0

DeFi_Dad_Jokes

· 01-04 17:39

Mindset and execution, yeah, you're right... but I think most people can't finish these two books haha. These books are indeed valuable, but honestly, mindset really only develops when you're losing money. No matter how solid your psychological framework is, a 10x leverage liquidation can instantly break through it. I'm a bit skeptical of this theory. Reading books and actual trading are two completely different things. Too many people are like this. When the money is in place, the mindset naturally aligns. The problem is, there's no money to try and error.

View OriginalReply0

rugpull_ptsd

· 01-04 17:36

That's right, mindset is really the most easily overlooked aspect. I've failed before because of it. If the mindset isn't properly established, no matter how strong the skills are, it's useless. These two books are indeed worth reading, but what's the name of the one about execution again? Really, most people fail at the mindset stage. If your mindset is good, everything becomes easier, but that's the hardest step. Having only execution without the right mindset is just asking for trouble. I'm actually wondering, to what extent should one train their mindset to be considered "qualified"? The books are good, but ultimately, you have to understand and realize it yourself.

View OriginalReply0