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)
As an apprentice in trading I really enjoyed Douglas's approach to the subject and was taken by the almost spirtual undertones of what he described as the qualities a successful trader needed to attain to. In many ways these ideals could be applied to any human endeavour.
For me personally it was the synchronicity of what he described of
Realising it wasn't about making money with some winning formula
Living in the Now moment....see above ...read Tolle
This book is so thought provoking I'm listening to this a second time.
Not to over think the trade, believe in your edge and act according to your trade plan.
Very monotone, it made this book a bit dry, which is sad considering the content.
The market is not competing with you, just take what it gives you.
Solid book, perhaps should be bought as a traditional book.
I generally dont write negative comments. But I reaaaaaaally wanted to write something about this book. I literally said to myself, "I cant take this crap anymore" and stopped listening. Book is only a play of words, nothing concrete.
Folks, do proper market analysis. That's the key, all others are craps..
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