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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

Critic Reviews

"[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 Ratings

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  • Overall
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Great narrator.... for falling asleep!

This topic it's very interesting to me, but I literally use this book to fall asleep because the narrator has a voice that I'd how for bedtime stories. So... this audiobook is probably effective if used for conditioning while under a somnambulistic trance or while asleep - like sleep learning. But that's not why I bought the audio!

Books like this need to be read with the passion Gary Vee has for talking about culture and distribution.

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I felt the book was very useful for me

The book has good analogies and forces you to think and cause in shift of mindset from being stuck with loosing trades to following the flow and taking profits when available in the market. Overall I liked the book.

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A must for a trader beginning or as a refresher

very satisfied with the skills being taught in this book. Author breakes things down and explains what is happening and how to fix problem thinking while trading. A+

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DO NOT WASTE YOUR MONEY!!!!!

ZERO STARS. All this author did was splash the word "trader" everywhere inside of a TERRIBLE psychology book hoping we won't notice what crap it is. Absolute WASTE of my money. You've been warned.

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Rollercoaster of practical tips and philosophical insights

The author presents a framework of thought that can be honed, and proposes a systematic approach to investing, that aims to eliminate emotional trading and subsequent risks. It was a great mix of practical advice and perspectives on trading and deep dives into psychological theories that underlie it all. I thoroughly enjoyed it.

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Great Book for new and struggling traders

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There is a reason why Mark keeps repeating the truths of trading. Great book that empahsizes on discipline and what to expect from the market.

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A trading classic, and even better in Audible!

Any additional comments?

This is a fantastic book and I enjoy it more on Audible. If you read, understand, and internalize what Mark Douglas is saying, YOU WILL BE CONSISTENTLY PROFITABLE. And I will explain why in this review. But first a little background, I read and reviewed this book about 12 years ago. It improved my trading when I followed what I learned. Looking back, I also lost money every time I strayed from this knowledge. Why did I stray from the rules that work? That's a good question, and this book helps to answer it.1. One of the first steps to being consistently successful at trading is to accept responsibility. That means knowing and accepting that you are the only one responsible for your actions. You have to know and understand the risk of each trade BEFORE you place the trade.2. You also need to understand and accept that ANYTHING CAN HAPPEN in the market. That needs to be factored into your risk assessment.3. You need to have an edge. An edge is nothing more than an indication of a higher probability of one thing happening over another.4. You need to think in probabilities. You cannot see the future; you cannot know what is going to happen next. If you think you know what is going to happen next, it will cloud your judgment and make you unable to see when things are not going as you "know" they should be. The result will be a larger loss. Your mind should be thinking "anything can happen but my edge tells me that there is a probability that this trade will go up(down)"5. You need to have hard and fast rules about your trading. Written rules.6. You need to trade every single signal that your edge gives you. You cannot pick and choose. You must be confident in your edge, the laws of probability, and your rules, to know that over a specific sample size you will be consistently profitable.Mark talks about how you "need to get your mind right", and supplies plenty of information on how to do that. He talks about trading in "the now", and how you need to be in the flow by not trying to get anything from the market, but rather sit there and wait until the market shows you what it is making available. Sounds kind of zen-ish, but it truly works. After all I am sure most of you understand that you need the proper attitude to trade. You cannot go into the market and seriously think you are going to inflict your will over the market. I know many people try to do that, and that's why there are so many losers in this game. Get your mind right, believe in your edge, and you will make money consistently. It really is that simple. Not easy, but simple.There are a few trading books that should be read every year or so to keep you from forgetting the valuable lessons they teach. This is definitely one of those books. I have removed it from my bookshelf and placed it on my desk. That way every time I see it I will be reminded to "get my mind right", before I place a trade. Because you cannot control your trading if you cannot control yourself and you must have unbreakable rules if you want to stay in the game.

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  • VJC
  • St. Louis, MO
  • 03-15-17

Endless banter

There may be some golden nuggets in this text, but I didn't find them. I cannot figure out why this is considered a must read by many traders.

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Fantastic book, fantastic narration

The book is a God send for every trader, whether new or experienced. The author makes good analogies with real life experiences, and compares the emotional states between them and when trading. It is truly an eye opener.

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sooooo helpful on my journey to trading!

i can already tell that I'll be revisiting this book multiple times in the future.