Maximizing the trader's state of mind is the key to successful results. Conflicts, contradictions, and paradoxes in thinking can spell disaster for even a highly motivated, astute and well-grounded trader. Mark Douglas, an industry consultant since 1982, sends the message that a "thinking strategy" will profoundly influence a trader's success rate.
Douglas addresses five very specific issues to give traders the insight and understanding about themselves that will make them consistent winners in the market. Trading in the Zone offers specific solutions to the "people factor" of commodity price movement. It uncovers the true culprit for lack of consistency when it comes to stock picking: lack of focus and self-confidence. Through simple exercises, traders will learn how to think in terms of probabilities and adopt the specific beliefs necessary to developing a winner's mindset. Along the way, they'll gain valuable insights into their own entrenched misconceptions about the market.
Backed by compelling examples, Trading in the Zone adds a new dimension to getting an edge on the market. Through a better understanding of themselves, as well as of Wall Street's realities, traders will come to leverage the power of their psyche for unprecedented profitability.
©2000 Mark Douglas (P)2011 Gildan Media Corp
"[G]iven trading's risks, this book could assist experienced investors willing to engage in self-reflection." (Publisher's Weekly)
following the book you should be able to develop consistency in your trades. I would listen to it a couple of times.
This is the best trading book of all time it's a must read -listen awesome outstanding great amazing all good discription
Way to much of this book is fluff, tangents, and unnecessary. About 30% is useful and informative. The rest of the time the author tries to appear deeply intellectual discussing ideas way off topic. I feel like he was trying to add junk to a descent/ok core idea and the junk made listening to this miserable. It's as if he had to meet a word count minimum because 70% literally didn't help at all.
This book has enable me to view the different futures markets like a professional trader. After reading this book my confidence has grown and trades are easier to take. I now feel like the sky is the limit. Definitely a "MUST READ" for all traders old or new.
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.
"This book drags on and on and on"
There should be an abridged version with about 60% of the book cut out
The last two chapters were worth listening to - I suggest you jump to the last two chapters and ignore the rest
This was not a novel, though author seemed to want to write one.
No, but an abridged version would be.
There is some good guidance at the end of the book about understanding probability, having a strategy, being clear about your edge, calculating your risks, deciding on your stop losses and exits points beforehand and then execute your trade and stick to your original plan without fail. If you do this then you should not worry or lose confidence. If you fail to do this you will lose confidence. You'll have to listen to 8 hours of audio with some pseudo science about "positive energy" and vague phrases such as "if you truly believe..." to get this advice.
not sure if this was an exercise in waffle - won't say it's a bad thing but won't say it's good either. Want to hedge my bets so to speak. Or did it really take eight and a half hours for some one to tell me that trading futures carries a certain amount of uncertainty?
got a bit sick of it in the end
"very slow going"
just very slow going never got my interest some do some dont well never mind better look next time
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