Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your email address or mobile phone number.
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude Hardcover – January 1, 2001
|New from||Used from|
Top 20 lists in Books
View the top 20 best sellers of all time, the most reviewed books of all time and some of our editors' favorite picks. Learn more
From Publishers Weekly
Copyright 2000 Reed Business Information, Inc.
Trading in the Zone introduces a whole new mental dimension to getting an edge on the market. Use it to leverage the power of the "zone" for unprecedented profit. --New York Institute of Finance/Penguin Publishers
Please note that the audio version of Trading in The Zone is not read by Douglas. This version is read by a professional reader, most importantly, someone who is not a trader or in the investment industry. This is a distinction that may make a difference in your listening experience.
(This review applies to the AUDIO version only.) Please note that the audio version of Trading in The Zone is NOT read by Douglas.
This version is read by a professional reader, most importantly, someone who is NOT a trader or in the investment industry. This is a distinction that may make a difference in your listening experience.
More About the Author
Mark Douglas' first book, "The Disciplined Trader™" was published in 1990 and is considered an industry classic. And along with "Trading in the Zone™" published in 2000, his books are considered the first books to introduce the investment industry to the concept of trading psychology ~ years before anyone even heard of that concept, much less providing coaching in this - now popular - way of approaching trading.
One of his latest books "The Definitive Guide to Mastering the Psychology of Trading" is now available in the original format Mark envisioned - which is four separate and complete Sections. This type of format was to ensure that traders of every skill level could choose what Section they wanted to assist them in updating or changing their current trading challenges. Another of his current books, the "Little Book of Trading Performance" co-written with partner Paula T. Webb, is also available in this "section" type of format. This allows the reader to read about correcting a specific trading challenge they may have, without going through an entire multi-chapter book searching for an answer.
To date, his first two books have been translated into the Chinese (Simplified & Complex), French, Italian, Japanese, Korean, Polish, Portuguese, and Spanish languages, with more foreign language translations to come in the future. "The Definitive Guide" will be translated into the Japanese language sometime in 2016.
Mark began coaching traders in 1982, and continued to develop seminar and training programs on trading psychology for the investment industry, as well as for individual traders for decades. He had been a frequent speaker at seminars across the world, as well as in the U.S., teaching traders how to become consistently successful. Mark has received several awards for both of his books and work, including the prestigious "Bull/Bear Award" in 2006, 2008 and 2011.
In May of 2010, select quotes from his work on trading psychology were included in the book, "Simple Wisdom for Prosperous Trading" by Mark's partner and wife, award-winning author and Behavioral Finance coach, Paula T. Webb (www.paulatwebb.com). The quotes in her book from Mark enhance the original trading affirmations by author Webb, based in part on her webinars, chat room, and coaching programs, and lead the reader to a higher understanding of what it means to think prosperously ~ beginning with one day at a time ~ to build consistent and sustaining trading equity.
Mark completed a number of other new products for the trading community which will be available in the coming months. His partner and wife, Paula T. Webb will continue to collaborate with his materials, in conjunction with her own, forward.
Top Customer Reviews
That is the major premise of this book. If it sounds like wishy-washy psycho-babble to you, I'll only say that I would have agreed -- four months ago, before I quit my 20-year technology career, obtained a Series/7 license and joined a professional day-trading firm. I now believe most people would lose money if you gave them 50/50 odds on whether or not it was going to rain tomorrow.
In other words, successfully forecasting the market is not enough. Why not? Well, this book explains why not. It has to do with one's sense of self-worth, one's moral judgment of money, one's work-ethic, one's tendency to focus on good news while ignoring bad, and other things.
"Zone" was recommended to a friend of mine by a professional floor trader who told him, "I wish I had read it before starting two years ago. Don't place another trade until you do." Well said. Does this apply to investors as well as traders? Oh, absolutely! If you have ever said to yourself, "I'm not selling that stock while it's down, I'll wait until I have a profit in it," then for the love of money, read this book.
Finally, read "Zone" before Douglas' earlier work. If you still want more then read "Disciplined Trader" for a general review plus a deeper exploration into the author's philosophical and meta-physical theories.
Chapter 1 describes the necessary mental framework for trading properly.
Chapter 2 shows the psychological challenges a trader must face up to.
Chapters 3 to 5 define the mental framework for trading and what will happen if you lack it.
Chapters 6 and 7 tell us how to get that mental framework from a personal point of view ( opportunity flow and thinking in probabilities).
Chapters 8 to 10 describe how to achieve that mental framework from the market's point of view.
Chapter 11 is an exercise to put it all together.
Although Mr. Douglas knows what he's talking about, his book requires more market examples. Furthermore he loses the thread of his arguments at times and request to be reviewed several times to make the most of it.
In spite of this shortcomings it is correct a approach and worth reading.
However there is a wearying amount of padding - most of it in the 'obviousness' category. The author spends pages at a time, for example, telling us that:
1. We have beliefs
2. Those beliefs cause us to act certain ways
3. We can change those beliefs
4. Therefore causing us to act in different ways.
(etc etc etc)
We knew all this.
Chief problem is that Douglas isn't a writer: doesn't know how to pare and refine material; reduce to essence; delete the unnecessary. Likes the sound of his own voice.
This also shows in the frequent spelling and grammatical mistakes, and the poor punctuation - which tends to throw one's attention all over the page, trying to discern a meaning. I'd have hoped the publisher - Prentice Hall - could have afforded an editor.
Douglas also affects, at times, knowledge of things he knows nothing about. E.g. equating negative ions with negative emotions - i.e. an electrical charge with a metaphor (!) Even a bit of school science would have prevented this one.
Hard to know whether to recommend this book or not, as reading it will waste much of your time: as you proceed from gem to gem (and there are many) via a wilderness of excess, often meaningless, verbiage.
Advice to wealthy readers: Pay someone to rip out the time-wasting pages, and chapters, and salvage for you the worthwhile bits - most of them in the first half.
Advice to Prentice Hall: Employ editors; you'll find it cost-effective in the long run. For example, people will recommend more of your books to other people.
Advice to Mark Douglas: cut this book in half, or less.
Most Recent Customer Reviews
This book is roughly 300 pages too long as it could have been summarized in just a one pager. Mr Douglas has an interesting point of view, no question about that, and I think he is... Read morePublished 23 hours ago by Client d'Amazon
After reading this book my trading has bocome much more profitable and relaxed. I cannot even describe other benefits you get from this amazing and inspirational author. Read morePublished 3 days ago by Andrey
Great buy for my interest. I would highly recommend this book to anyone who has interest in the topic.Published 1 month ago by Amazon Customer
The emotional and psychological principles discussed in this book are absolutely profound. I started laughing while reading the first chapter because it described my shortcomings... Read morePublished 1 month ago by Teresa Grace
Awesome an critical material for every trader to understand. There is a reason we are making bad trades.Published 2 months ago by J.N. Henderson
Don't waste your money on this nonsense. It's incredibly repetitive, as Mr. Douglas repackages the same New-Age idea into about four or five hundred examples, at least that's how... Read morePublished 2 months ago by Ray West
Excellent book.Changed my view on trading.essential reading for all tradersPublished 3 months ago by Amazon Customer
By far the best book on the psychology of trading that I have read, although a little long-winded at times. Read morePublished 3 months ago by David the book lover.
The author can't trade! I can't trust somebody on something who himself can't do it. It was hard to finish the first chapter and I literally fell asleep in the middle of the day! Read morePublished 3 months ago by ct