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Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude Hardcover – January 1, 2001
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From Publishers Weekly
Douglas, president of the seminar firm Trading Behavior Dynamics, focuses on the psychology of successful traders. Instead of offering specific strategies, he advises readers, "The first step on the road...is to understand and completely accept the psychological realities of trading." It may be too abstract for some, but given trading's risks, this book could assist experienced investors willing to engage in self-reflection. (Jan.)
Copyright 2000 Reed Business Information, Inc.
Douglas explains to the trader just what type of mental mindset is needed to be a winner in the markets ~ and guides the reader along a path of self-discovery leading them to higher and sustained trading results. --- Global Publishing House
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 notethat 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 investmentindustry. This is a distinction that maymake a difference in your listening experience.
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Top Customer Reviews
I don't usually read many books more than once but I think 5 or more is easily doable for this Master Piece is worth that and more...
I had set-ups, technicals and fundamental theories I had been using in the market, but had only losses and torn out hair to report. I could indicate where I went wrong in each trade, but still no consistency. After reading this book, I made some adjustments on my strategy and my approach. It has made all the difference. Thank you Mark for sharing your knowledge this is definitely a top 10 book of all time for me!
If you are looking for a fresh perspective because for some reason all the set ups and technicals aren't working....check this book out it might be the missing piece to the puzzle.
Curiously the book left me with the idea that developing an edge is important but not as important as this probabilistic mindset. I believe that continued refining of an edge is something you either do or you loose. Probably Mark Douglas would agree with that. The mental process of recreating the edge allows you to assimilate new understandings and develop the analyst side of things. While the book didn't suggest this for me, I believe there is a place for both the important Mark Douglas ideas and for the obsessive devotion to creating a sharper edge. All important for being a consistently profitable trader.
Like most people who have done a bit of trading and given their fair share of 'donations' to the market I decided to take
time out and review things and learnt that most of what it takes to be a successful trader lies in your mindset. I have been to a few seminars and talked to people who purchased trading strategy/software packages for thousands of dollars and I have
noticed that nobody is really making any money.
But I noticed that nobody actually goes out and buys books like Trading in the Zone or Disiplined Trader they just jump straight in and lose their account within weeks or a few short months.
They havent learnt how to think like a trader (I didnt either) and while reading this book everything fell into place I finally
got the concept of being totally objective on every trade and not 'hoping' things will work out.
I had totally the wrong thinking when it came to trading and was always trying to work out what was going to happen next rather than just trusting your 'edge' and moving on to the next trade knowing that the last trades success has nothing to do with the next opportunity.
I had an 'A-Ha' moment while reading this book and Im sure you will too if your comitted to be a successful trader. 95% of traders I know who are trying to make money trading are not making a thing, but all of them are not focusing on the Mindset.
This book will sit in a handy place on my bookshelf.