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Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude | [Mark Douglas]

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude

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.
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Publisher's Summary

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

What the Critics Say

"[G]iven trading's risks, this book could assist experienced investors willing to engage in self-reflection." (Publisher's Weekly)

What Members Say

Average Customer Rating

4.3 (431 )
5 star
 (265)
4 star
 (87)
3 star
 (40)
2 star
 (28)
1 star
 (11)
Overall
4.3 (359 )
5 star
 (213)
4 star
 (73)
3 star
 (41)
2 star
 (19)
1 star
 (13)
Story
4.4 (355 )
5 star
 (215)
4 star
 (82)
3 star
 (37)
2 star
 (13)
1 star
 (8)
Performance
Sort by:
  •  
    Maurice Yip 06-12-15
    Maurice Yip 06-12-15
    ratings
    REVIEWS
    2
    2
    Overall
    Performance
    Story
    "Great insights"

    Good background information to explain key concepts. Now it is up to me to get results.

    0 of 0 people found this review helpful
  •  
    robert saenz 06-01-15 Member Since 2015
    ratings
    REVIEWS
    2
    1
    Overall
    Performance
    Story
    "Becoming a consistant trader"

    Loved it. A real eye opener on how to become a consistant successful trader. It identified my weaknesses and my strengths to percivier.

    0 of 0 people found this review helpful
  •  
    Mike Litwiller 05-16-15 Member Since 2014
    ratings
    REVIEWS
    1
    1
    Overall
    Performance
    Story
    "Great"

    Wow needed this 10 yrs ago glad i found it, its the missing
    Link to erratic trading. Man hit the nail on the head

    0 of 0 people found this review helpful
  •  
    Eric Sheetz Seattle, WA USA 04-25-15
    Eric Sheetz Seattle, WA USA 04-25-15 Member Since 2013

    Eric

    ratings
    REVIEWS
    1
    1
    Overall
    "Identified my hang up"

    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.

    0 of 0 people found this review helpful
  •  
    Marianne 04-19-15
    Marianne 04-19-15 Member Since 2014
    ratings
    REVIEWS
    2
    1
    Overall
    Performance
    Story
    "Excellent look into the psychology of trading"

    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. .

    0 of 0 people found this review helpful
  •  
    Jason 04-14-15
    Jason 04-14-15 Member Since 2013
    ratings
    REVIEWS
    20
    1
    Overall
    Performance
    Story
    "I love this book"

    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.

    0 of 0 people found this review helpful
  •  
    Jonathan 03-29-15
    Jonathan 03-29-15
    ratings
    REVIEWS
    1
    1
    Overall
    Performance
    Story
    "This book is an epiphany about trading"

    This is the single best book that you could ever listen to about being a professional trader and if you could only listen to one book this should be it

    0 of 0 people found this review helpful
  •  
    Louise 03-27-15
    Louise 03-27-15
    ratings
    REVIEWS
    3
    2
    Overall
    Performance
    Story
    "Good but slow"

    Excellent book but too long-winded and drawn out. He could have said the same thing in half the words. Too much repetition

    0 of 0 people found this review helpful
  •  
    Argyle 02-11-15
    Argyle 02-11-15
    ratings
    REVIEWS
    2
    2
    Overall
    Performance
    Story
    "Good Lessons"

    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.

    0 of 0 people found this review helpful
  •  
    manaf 02-01-15
    manaf 02-01-15 Member Since 2014

    I am a plastic surgeon by profession A father by heart A trader by choice A teacher by passion A child by curiosity

    HELPFUL VOTES
    22
    ratings
    REVIEWS
    44
    39
    FOLLOWERS
    FOLLOWING
    0
    0
    Overall
    Performance
    Story
    "plan your trade trade your plan that's all"
    Would you try another book from Mark Douglas and/or Walter Dixon?

    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


    What do you think your next listen will be?

    Do the work by Steve Pressfield


    How did the narrator detract from the book?

    he didnt


    Did Trading in the Zone inspire you to do anything?

    not really


    Any additional comments?

    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

    0 of 0 people found this review helpful
Sort by:
  • Mark Noble
    Dorset
    9/6/11
    Overall
    "Left me feeling inspried"

    Several of my friends raved about this and I was pleased it was available in audio form so I went in, still I admit feeling sceptical. After all I've been trading 15 years, so I am already great right? Oh how wrong I was. Every example of a mistake I have repeatedly made was laid out clearly here with reasons why human psychology makes us repeat the same mistakes over and over again.

    They say that 5% of poker players make money, the rest tick along or lose and yet millions still play. Same goes for trading, we are all there looking for the big winner. The book explains how trading is little to do with fundamentals and more to do with unhooking our deeply rooted beliefs instilled as we grow up. A child is told dozens of times a day what NOT to do, then they hit 18 become a trader, get a few lucky trades and there is nothing to stop them.

    Mark Douglas doesn't offer you the get rich system you should use, it is assumed that anyone reading the book trades already using some technical analysis such as fibonacci retracements, MACD, RSI etc. But he does make you instantly realise that the market is not an enemy which always goes against you, it is there to be treated as a game of probability which you can play using your edge to in the long term to be a consitent winner, dare I say even a trader, rather then the gambler this book made me realise perhaps I am currently better categorised as.

    The psychology insights were very interesting throughout. It could easily be viewed as a dull book, yet it kept me gripped throughout. A real revelation. I am really looking forward to trading with less stress, no emotion and paranoia free and buying that first yacht (ok dinghy)

    10 of 10 people found this review helpful
  • Russell
    Stoke-on-Trent, United Kingdom
    12/28/11
    Overall
    "A Great Listen"

    Works really well as an audiobook and obviously written by someone with extensive experience of trading. The book concentrates on the psychological aspects of trading and demonstrates that our greatest opponent is not the market but our own brain. The information contained in this audiobook, if followed, has the potential to save the novice trader many times its purchase price.

    4 of 4 people found this review helpful
  • Brian
    Ottawa, ON, Canada
    12/23/12
    Overall
    "Brilliant!"

    Even if you are not a TRADER this is a great book. It explains the mechanics of how a lot of things work in your mind and emotional structure. If you are a trader you will lose a lot less money following this guy's advice.

    3 of 3 people found this review helpful
  • G
    United Kingdom
    12/24/12
    Overall
    "How to do backward somersaults on a tight rope."

    I am a professional trader. This book is excellent, full of great insights and nice analogies. Whether an average person could accept this reality, or more importantly operate with the correct mind set is unlikely. Most lessons need to be learned first-hand. But any budding, failing or mediocre trader should listen to this work. If you find yourself, discounting the information or rationalising an alternative way of thinking; you will have at least identified the reasons, why you are probably doomed to failure.

    3 of 4 people found this review helpful
  • Leanne
    Manchester, United Kingdom
    4/24/12
    Overall
    "Excellent"

    I had been told about this book and I am really glad I bought it... It has helped immensely in my trading, more so with my mind set... Well worth getting if you are serious about Trading full time.

    2 of 2 people found this review helpful
  • mihow
    5/3/15
    Overall
    Performance
    Story
    "psychology of the trader"
    Where does Trading in the Zone rank among all the audiobooks you’ve listened to so far?

    Very good, however the narrator has got a bit dull voice


    What did you like best about this story?

    Really interesting behaviour patterns


    Which character – as performed by Walter Dixon – was your favourite?

    N/A


    Was there a moment in the book that particularly moved you?

    N/A


    Any additional comments?

    Good book for all those who are looking into understanding the behaviours that novice trader follow.

    0 of 0 people found this review helpful
  • Mark D. Earle
    3/16/15
    Overall
    Performance
    Story
    "Essential for success... Excellent!"

    I think I will find this book to be an invaluable resource to keep me profitable.
    Although some chapters are on general psychology and not specific to trading, this helps the overall message of understanding why you make certain decisions with your trading.
    Simply buy it as you'll save many times this investment if you implement the lessons.

    0 of 0 people found this review helpful
  • Amazon Customer
    UK
    1/2/15
    Overall
    Performance
    Story
    "the best book on trading psychology."

    I read it and revise it after a year. I recommend it on my blog to everyone. www.itradeaims.com

    0 of 0 people found this review helpful
  • Bus
    UK
    10/26/14
    Overall
    Performance
    Story
    "This book drags on and on and on"
    Is there anything you would change about this book?

    There should be an abridged version with about 60% of the book cut out


    What was your reaction to the ending? (No spoilers please!)

    The last two chapters were worth listening to - I suggest you jump to the last two chapters and ignore the rest


    Did Walter Dixon do a good job differentiating each of the characters? How?

    This was not a novel, though author seemed to want to write one.


    Was Trading in the Zone worth the listening time?

    No, but an abridged version would be.


    Any additional comments?

    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.

    0 of 0 people found this review helpful
  • Phil
    Cardiff United Kingdom
    8/4/13
    Overall
    Performance
    Story
    "Mind Boggled"
    Would you try another book written by Mark Douglas or narrated by Walter Dixon?

    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?


    If this book were a film would you go see it?

    no


    Any additional comments?

    got a bit sick of it in the end

    0 of 0 people found this review helpful

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