I was failing because I couldn't admit when I was wrong. I had rigid expectations for what the market would provide me and was flexible in my process. I now understand that this should be reversed.
Narrator was good too.
Well written and easy to understand. Very good use of examples from life that help explain his concepts. Much of what he discusses can be useful in other areas that need development. .
Even after trading for six years this book still reveals insights every time I listen to it. The performance got four stars out of five because even though it was read by the author overall energy level could have been higher.
This is more of a psychological read. Very focused on accountability and the mindset required for trading and other things. I found it useful. Pretty redundant in some places.
I am a plastic surgeon by profession A father by heart A trader by choice A teacher by passion A child by curiosity
not sure really as most of the book was trying to get to that basic concept that you really cant predict the market direction but have some system of entry and and exit plan win or loose and let your winnings run and cut losses short
Do the work by Steve Pressfield
it only brings one idea as i said the market is a gambling game , try to be the house by picking a strategy that gives you an edge then play the numbers game
This book was recommended reading by my mentor 3yrs ago and I started trading with not success prior to reading it. Since reading it I now has identified my failures and feel confident I will succeed in my next period of trading.
I am new to trading. But all of the experience traders that I am learning from, have recommended and wished they would have read this book so much sooner in their career. The psychology that he goes over in this book makes complete sense. I will definitely be listening to this multiple times just to make sure its all ingrained.
An excellent presentation of dense material. The written book is tough-going.
This audiobook presentation takes a subject which is critical for traders, less so for investors, and renders it palatable. Most traders with some market experience rate Douglas' book highly but find that it requires several readings. I have approached this book both ways and can state unequivocally that the audiobook is a must to wade through this topic. After listening to the audiobook, one can use the written text (if desired) to greater advantage. There are only a few lessons in this book but they are all-important to trading success. Not many people can trade* successfully as their emotional investment in being "right" and the uncomfortable and euphoric feelings which money can activate interfere with the process.
*I use the term trading vs. investing to refer to "short" time frame buying and selling, typically minutes to weeks.
Not to my knowledge