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Publisher's Summary

Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.

©2018 Paula T. Webb (P)2018 Penguin Audio

Featured Article: The Best Trading Audiobooks for Improving Your Financial Savvy


When it comes to the economy, advice from various experts and perspectives abounds—so much so that it can feel like you need advice on which advice to take. And for those who specialize in trading, general financial advice or even investment instruction is often not specific enough. When dealing with the high stakes associated with trading, either as a hobby or a career, it’s essential to seek out wisdom from those who have learned from experience.

What listeners say about Trading in the Zone

Average Customer Ratings
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    2 out of 5 stars

Disappointed given the stellar reviews I've read.

The author offers some valid knowledge, but it's buried within so much fluff about your emotions and thoughts that it's hard for me to appreciate. I'm only half way through the book and struggling to finish. For a new trader this might be a good read but for anyone who has experienced the markets this is common knowledge. Basically, a trader's goal is to think like the casino. Keep the size of the bets small enough in relation to overall capital to reduce the chance of a ruinous event, find an edge and simply trade it. That's all it takes to be successful. And yet, 95% of traders fail, and they fail because they let their emotions (fear and greed) or other beliefs (the ego's need to be right) get in the way simple as that.

22 people found this helpful

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Most important trading book I own!

I purchased this book several years ago when it was recommended to me. I wish I had read it then. The audible version of the book makes it much easier for me to complete a book cover to cover. This book is outstanding. Deals with the whole mental side of trading and to me that is 90% of trading. Highly recommend it!

18 people found this helpful

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Decent book on trading psychology

First 4-5 hours of the book has very good takes on psychology of trading witch is obviously very important. I felt the content on the first half is very valuable.

Towards the end of the book there is bizarre VERY long section to explain effects of bad experience. The book spends an hour or so making a point that could be made in 5-10 minutes. I feels like author ran out of things to say and really stretched the end to add mass to the book.

That aside I feel this is one of the better books on trading and the topic is definitely very important success factor.

9 people found this helpful

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Off the charts , practical, get we done advice;

I am a 58 yr old 30 lifetime in the trenches entreprenuer. I read on average 50 books a year . I have had my share of successes and failures throughout the years. This book, for me, is one of the most powerful, practically written , execution plans that I have been searching for my entire working life. . If you struggle to consistently connect the wins in your business life, then this book is your missing link. I learned more practical advice in this 1 book than in the cumulative value of 100"s of others. If you have the strategies mastered,(in any profession), but struggle with your consistency in getting results, than this book is your new bible. .S o much more than a trading book. It is a business mantra providing you guardrails to your success!!

7 people found this helpful

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Awesome

Awesome account of the mental and holistic aspects of trading psychology and how beliefs affect reality

5 people found this helpful

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Indispensable!

This book should be a requirement for any aspiring or even already established trader! Gone through my first listen and will go through a second one soon as the principles listed in this book are so important!

4 people found this helpful

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This is very helpful in learning to trade.

I found the guidance to be extremely beneficial to me in my development as a trader .

4 people found this helpful

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This book helped me to relax a lot!

This is one of those books that can be listened to multiple times and you will get more out of it each time.

3 people found this helpful

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Great book

Loved the mindset he talks about. Once you change your thinking you change your results.

2 people found this helpful

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A must read or listen for anyone wanting success in the market.

This is truly a must for anyone that has any desire to successfully trade the markets. It’s mind changing and will positively change how you view trading.

2 people found this helpful

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  • richard hannay
  • 12-12-18

ok

Basically be cold in your emotions, know that anything can happen and have an edge.. oh and watch your kids near dogs.
just saved you several hours.

12 people found this helpful

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  • Amazon Customer
  • 05-15-20

Very repetive

I didn't learn a great deal here. The audiobook kept going over and explaining itself. Would of been fine if it was condensed to 10% of the size and cut out all the Fluff. Wouldn't recommend.

2 people found this helpful

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  • Badrul Hussain
  • 08-26-18

A must read for all traders and for all levels.

This is a very, very good book on trading psychology. If you're new to this or a beginner read or listen to this book more than once to benefit from one of the best psychologist out there.

2 people found this helpful

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  • Jan M.
  • 01-22-21

Must listen!

It is a bible of trading, just go for it.
once you have finished, do it again.

1 person found this helpful

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  • T. Bullen
  • 12-22-20

Repetitive drivel

I tried, but could not finish this. Repetitive lessons on how to suck eggs, laced with sudo psychological nonsense. Avoid.

1 person found this helpful

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  • R.B.L.White
  • 11-25-20

Not recommended

There were one or two useful points, but for the most part the book is very repetitive and actually quite irritating. The “dogs” example just goes on and on and on.
A much better buy on psychology would be “The inner game of tennis”, even though it’s not about trading as such.

1 person found this helpful

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  • marc
  • 05-09-21

Good psychology book.

Good psychology book, with trading background, although it can be applied to different life facets. At a times can be repetitive, but overall is a good book. Totally recommended.

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  • Anonymous User
  • 05-07-21

Just a bit meh

I’ve read a lot of books on investing, as just started out in this field. Just found it very light on actual practicable material. Was pretty fluffy around the edges, and probably could’ve been written at half the length. Feels like there was a word count that needed to be hit, and the books limps towards that, rather than anything particularly useful.

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  • Marin
  • 04-25-21

The first book for trading you need to read

This book is the first book you need to listen/read if you want to become a professional trader. It teaches you things, you need to know before you start trading with real money. If you had doubts whether or not to read it, think no more, you have to read it.

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  • Anonymous User
  • 04-25-21

A must read for any serious market participant

Excellent, timeless classic.

I keep on coming back to this book and recommend it to anyone with an interest in becoming consistently profitable within the financial markets.

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  • joel collie
  • 02-10-21

I took a loss on this investment

waste of money for me, maybe this will help others but I found the topics discussed to be redundant. yes clearly you have to own and accept risk, yes clearly being confident when making decisions makes for better probability, now hurry up and tell me about trading instead of waffling on with existential hyperbole.....

Go read Mark Manson's Subtle Art of Not Giving a Fuck, you'll get more out of it.

2 people found this helpful

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  • John M
  • 09-07-19

A MUST read for anyone passionate about trading!

A key aspect of this book is to view trading as a game of probabilities and to understand that any set of trading rules must be given enough of a sample size to clearly know if your system gives you an "edge".
Too often we try to justify why one trade turned into a loss with the belief that if your system is incredible you should never be wrong.
If you knew that your system is right 70% of the time, this means 14 out of 20 trades will be correct. What you need to realize is that you don't know when those 6 losses will occur. You may lose the next 3. Disregard your emotions. Follow your trading system and let the odds of probability work in your favor.

2 people found this helpful

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  • Maurie
  • 07-19-20

Effective

Oldie but a goodie and still very relevant. Should be mandatory reading for new tradies to calibrate their thinking. Highly recommended.

1 person found this helpful

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  • Amazon Customer
  • 06-19-18

A great tool I'll refer to often

The best narrator I've heard so far, and the content is a game changer. This is too good to listen to just once.

1 person found this helpful

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  • Salman
  • 05-02-21

Spectacular and Relevant

It really helped me understand my mindset in trading and why I make those mistakes. certainly puts things in perspective. glad I listened to this book. it seems to be written a long time ago but the key ideas are still relevant.

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  • Anonymous User
  • 03-28-21

Great book. leaves lots to think about

was a great book. It has changed the way im thinking about my trading. Will definatly be reading again.

  • Overall
    5 out of 5 stars
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  • Timothy Geldard
  • 12-19-20

Great book

Gave me a great understand of how to think in the market. Worth a listen

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  • Anonymous User
  • 07-08-20

MUST read for any and every trader

This is without question THE most important tool you have as a would be trader.

Cannot recommend enough, do yourself and your equity curve a favor and read this before placing a single trade.

  • Overall
    5 out of 5 stars
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  • Anonymous User
  • 06-05-20

very good , make sense and i believe its of use

recommend to get, will help you understand trading. and the psychology towards it , of having trust in yourself your trading system and changing your view of the market .

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  • Jonathan Yee De Wei
  • 05-25-20

One of the simplest yet most comprehensive books on trading consistently

Douglas may incorporate concepts that may seem a little out there, but digesting then a couple times over, I’ve found his content to be enlightening and even the examples he gives on trading errors spoke to me on a personal level. Highly recommend for any aspiring trader or even professional looking to better their trading process and mindset!