A must read book! This is a great work on the mentality and perspectives need to become a top 10% trader.
If you find this book boring, hard to understand or too esoteric, you need to give up your trading dream so that you don't loose all of your money.
If you enjoyed the book, are intrigued by its concepts and want to learn more, then you may have what it takes to be a successful trader.
Excellent explanation of the way a Trader thinks and the learning process involved. Goes beyond the basics and provides an in depth understanding of what it takes to be a winning trader.
This book is better organized for the reader/trader. Though, The Disciplined Trader which is the authors 1st book is a great read as well.
All chapters are great.
Every trader will benefit by reading/hearing and rereading /rehearing this book.
This book is good, but the main concepts could have been summed up in half the time.
if you are a trader, this is close to the holy grail, (no one can ever get the holy grail) for mental conditioning ,on my favorites list and now stands in my library...
myself and my mental framework
the content reached the right place between my ears....
you can't get something for nothing, you have to listen and see if your mind has the ability to pull it out....if it can you are in a better place, if not , please close you trading accounts, you are not a trader ....
Essential, Provocative, Enlightening
Daniel Kahneman's Thinking Fast and Slow. Both deal with how difficult it is to think in probabilities and how to set oneself up to truly do so.
Both. The mistakes traders make made me laugh as I have done them all. And cry because the solutions are simple but not easy.
At some point, every trader will need this book. Douglas assumes the reader already has a system for trading and knows how to use it, i.e., is already practiced at technical analysis. He deals flat-out with the psychological aspects of executing trades effectively.
There is sizzle but meat.
Same stuff over and over in the entire book.
Nothing I can learn.
Author said he was not a good trader. He should have written the trading book after mastering trading.
This book is one of the must have book for your personal library that you will be referring back to repeatedly over time. As we evolve as a trader there are obstacles we must overcome to excel or stay as a mediocre frustrated trader according to our psychological beliefs system.
This is the best book I have read or listen to on market/trader psychology. I just completed my third reading, and this book is a true classic!
The Disciplined Trader
1. Anything can happen in the market.2. It takes only one trader some place in the world to negate your position. 3. You don't need to know what is going to happen next in order to make money.4. There is a random distribution between wins and losses for any given set of variables that define an edge.5. An edge is nothing more than an indication of a higher probability of one thing happening over another.6. Every moment in the market is unique.
Working on the exercise in a sample set was a turn in my trading career.
There is a random distribution between wins and losses for any given set of variables that define an edge. Move on to the next trade.
In trading, a career where
As I read the reviews on this book, it seemed that there were two groups of reviewers: the group that just loved the book and the (small) group that hated it. After reading it, I found that the solution to this phenomenon was the following: to truly understand the book, you need: 1) To understand, that this book is not going to present you a clear trading plan or any technical knowledge whatsoever. It's about the mental aspects of trading. 2) A certain level of intellect (not that it is very hard to read, but I'm sure it is too difficult to understand for some). 3) You can only appreciate and understand the book, if you can relate to the mental processes and experiences that are presented in this book.
I own PDF, hard cover print and now audiobook of that book. It's one of those things which you should reread at least once a year.
In a word, do not hesitate and buy this book, you will only profit.
I read trading in the zone and it has a big impact on my thinking about trading. I have traded for many years and wish I read this when it first came out.
Mr. Dixon for me reads too slow, and does not put feeling into his reading. It is very dry. I play the book at 1.5 to speed it up and put some life into it.
On another Title: Reminiscences Stock Operator
If you read Reminiscences Stock Operator (about Jesse Livermore) get that book on Audible. The reading of the book Reminiscences Stock Operator brings such life to it, that if you listen to it again and again.
Yes, I would most definitely recommend to a friend! It clearly spells out the fact that you have to get your head right in order to objectively trade!
Mark Douglas, the author! Why is not relevant!
I don't think this question is relevant! There is only one character, Mark Douglas!
When you put on a trade, only expect that the market will move, do NOT expect it will move in the direction of your trade!
I really would like to see these books broken down by chapters (like the CD's) rather than in an 8 hour continuous book! It is a bit difficult to chapter review or get to a particular section!