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)
I read this book (hard copy) years ago and was surprised how much extra I got out of this audible version. Is it a different version or am I in a different mindset or am I now in the zone? It is worth the credit. If you are into this topic I recommend "The Little Book of Behavioral Investing (Unabridged)" by James Montier
How true it is that Forex is 80% psychological and 20% fundamental. There have been times when I could kick myself for nurturing my losses thinking that the market will retrace. There needs to be no emotion when trading. This book helps me to recognize this very important factor. Great book that I will listen to over and over. It is very hard to trade without emotion when cold hard cash is on the line. Mark covers this topic well and goes through the normal barriers which people face.
Really great book that opens your eyes to how people (including me) think when we start to dabble in the stock markets. The contents are great, are written in a style and view to impart coaching, answer questions and set out a game plan. The narration is brilliant and clear. Walter Dixon did a great job. Only flip side (if you can call it that) is the narration is 8 hours long! But all the contents are worth it. You need to make the time to listen to the whole narration in chunks at least. Good luck.
yes, probabilities in succeeding in trading are found in this audio book, stop wasting time, this is the read your after !
understanding that success in trading is in the probabilities
have a plan, test it, and stick to it, simple
Being able to "read" while driving in my car is a big bonus. I finish the audio books quicker than when I read the book myself.
Trading in the Zone should be read at least once a year as it is a great reminder of what is required to be successful as a trader.
As a former Futures trader, I would recommend this to anyone thinking about entering trading, currently trading, or seeking to get back into trading. It will help to set your psychological foundation.
You don't need to know what's going to happen to make money in the market.
The author has an interesting theory that he calls, "The five fundamental truths".
probabilities - consistency - an "Edge"...just read/listen to the book. I have, twice.
This is a must for every trader or wanna-be-traders. Helped me a lot to build confidence. I haven't started trading yet, still read a bit in the subject, but this book is very very book. It was my first book in trading and basically changed my whole view about things.
yes , essential mind set for successful trading
clarity on what we do during trades
the whole book was an ahhh! moment
If you trade and want to be better this book willl help
It's all about your attitude, and Mark will show you the way
No - listen twice
This one you cannot mis, Mark presents the cold hard facts that are contained within all traders.
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