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)
Associate Professor at Thammasat Business School, Bangkok, Thailand
If you want to be a successful trader, this is a must read book. Strongly recommended.
perfect compliment if you are well versed in technical analysis. Shows how much our thought process can effect our strategies for trading. Good stuff.
Beautifully written and directed towards understanding the biggest mystery of all. Knowing how your consciousness effects your behaviour, which is your path to success. Is one of the most powerful concepts and challenges humanity and society faces.
The author does a really good job of going into great detail the psychology of trading. Many of the principles and guidelines in this book can be applied to everyday life.
Anyone interested in trading I highly recommend this book.
"too much waffle"
the book started quite well. However, by mid chapter 5 I was lost! too much waffle, repetition and selling opinions as facts!
"Very good insight but too long winding"
Parts of this book are absolute gems when it comes to trading mentality.
But the book is 7 hours too long
"Seems so obvious.... Superb"
He highlighted many of the traits that I go through.... I will probably reread this straight away..... Must read for anyone wanting to make consistent money from trading
"You cannot call yourself a trader unless you have read this book"
If you are serious about trading, this book should form the foundations to your education. Trading is not about having the right system or the right program to identify trades, trading is about controlling your mind. This book teaches you how to understand the emotional roller coaster traders experience and how to get and remain in control of your mind.
Good book on psychology, would be great to see how he actually trades and what edges he takes. Nonetheless great book.
"Extremely valuable and helpful book."
Every trader should read/listen to this book before they start trading live. It will help you with your trading psychology and understanding how the market works. Loved it.
Best ever trading book. Give us an understanding of the true nature of markets. I am giving up learning more about markets and becoming a consistent trader. Love the way the author has shown how our beliefs impact on our lives. Will change your entire outlook towards life.
"very repetitive, good info overall"
I found the first 8 chapters quite annoying as the same message was being stated over and over.
once past the initial stages, the value of the book came through.
"psychology of the trader"
Very good, however the narrator has got a bit dull voice
Really interesting behaviour patterns
Good book for all those who are looking into understanding the behaviours that novice trader follow.
"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.
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