Trading in the Zone
Master the Market with Confidence, Discipline and a Winning Attitude
Ratings11
Average rating3.7
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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Great book, helped me with overcoming my fear in general. Little too spiritual but that does not matter if helped me get better
- thoughts are energy
- people see what they want to see. I would put it differently – people see what they learn to see
- a hedge is just a higher probability of one thing over another
- beliefs shape our lives. They manage our perception and interpretation of our environment in a way that is consistent with what we believe
- is it possible that for great athletes focus on their weaknesses to better direct themselves in a positive direction by improving their weaknesses
A typical self-help book full of repetition, grand statements and pseudo-science. The book is certainly not what I expected it to be - it's more of a (bad) psychology book than a book on trading.
Still, it offers some truly valuable advise on creating a robust trading strategy and sticking to it.
The entire essence of the book is not more than 20-30 pages, so I'd advise people to just read some summary/abridged version of it instead of wasting their time with the entire book. For me the biggest takeaway of the book is that it reaffirmed my belief that day trading is pretty much gambling (as the author often mentions himself). I do get the excitement of speculation (gambling), but I'd rather focus on investing instead.
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