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Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
written by Mark Douglas
Studio : Prentice Hall Press
by Prentice Hall Press
Release Date : 2001-01-02
Publisher : Prentice Hall Press
Released : 2000-04-01
Availability : Usually ships in 1-2 business days
Number of Items : 1
EAN : 9780735201446
Avg. Customer Rating: (based on 156 reviews)
List Price : $50.00
Our Price : $27.35
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Book Description |
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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, a trader, personal trading coach, and industry consultant since 1982, sends the message that "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. |
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A book that offers great value |
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Internalize the 5 fundamental truths as proposed by Mark Douglas, they are applicable not just to trading but also to one's career and personal life. In my opinion, a must-have in one's personal library. |
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Buy it |
If you are a new trader, you probably won't "get" this book. It takes some time and pain to realize there's a problem beyond market knowledge. The author says as much.
I read the three star review and I agree with it---there's a lot of words in this book. BUT, as that reviewer said, the gems are there and worth every penny I spent on this book. I'd have paid a thousand dollars for them. I actually bought it because another reviewer said it was the best book he'd read on trading. I'd have to agree.
I have fabulous trading days only to have them followed by disaster days. I thought this was just me, but this book says one thing that will hit home to those who trade: euphoria leads to reckless trading. That's exactly the thought I couldn't put into words and hearing him I realized I'm not alone.
I wasn't going to review the book because I don't need the competition, but then I realized what he says is true---there are few great traders. |
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Don't place another trade until you read this book |
And, it doesn't hurt to read this essential book again every couple of years either as your trading develops and matures.
Some reviewers are critical of the style of writing (psycho babble, motivational, etc) and some are critical of the quality of the writing. Some even think the book is over rated. Don't be swayed by the critics -- just get the book and read it.
You'll find that the message (regardless of the delivery or the style of the writing) is all that matters. If at first the message seems redundant or unfamiliar or a bit uncomfortable, keep an open mind. Remember, repetition of a message enables you to integrate it more effectively. And, if the ideas are a little "out there" for you, it is the revolutionary ideas that are often the ones that inspire true discovery (in trading and life).
Mastering our trading psychology and self awareness is the key to pulling all the other elements together. A terrific system plus great fundamentals won't add up to consistent profitability unless we can master our mind. |
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Great book... a whole new level of personal insite!!! |
This is a super book.
The focus is on improving yourself as a trader, but the material can be applied to any aspect of yourself that you wish to understand or improve.
The explanation about how the our minds create, maintain and use our beliefs is very clear and simple. The explanation of how are minds function with exiting beliefs is followed by methods for overcoming limiting behaviors and instilling new beliefs.
A quote that I think we have all been told in some form or another has much clearer personal meaning after reading this book.
"When it comes to personal transformation, the most important ingredients are your willingness to change, the clarity of your intent, and the strength of your desire."
If you're willing to work on yourself, this book is a fantastic guide. |
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A must read for traders |
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This book changed the way I think and act when trading. If you are an experienced trader or a new trader, this book is a must. It's one of the only sources that focuses on the mental aspect of trading. There are piles of technical, fundamental and system trading books, but this author will introduce you to the most important part of trading - your mind and how to control emotion when putting on a trade! |
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