Product Description

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.

Product Details

• Amazon Sales Rank: #978 in Books
• Published on: 2000-04-01
• Released on: 2001-01-02
• Number of items: 1
• Binding: Hardcover
• 240 pages

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.

Book Info
A key to entering 'the zone,' a state of mind in which the trader has complete confidence, discipline, and an unshaking winning attitude. According to the author, being in 'the zone' is the secret to successful trading in today's market. DLC: Stocks.

About the Author
Mark Douglas is the author of NYIF's The Disciplined Trader. He is president of Trading Behavior Dynamics, which develops seminars on trading psychology for brokerage houses, clearing firms, and banks, among a wide range of professional organizations. He lives in Scottsdale, Arizona.

Thom Hartle wrote the foreward for Trading in the Zone. He is vice president of Wizard on Wall Street, Inc., publishers of professional level study courses for traders, and editor of eCharts.com, an educational website for traders and investors interested in technical analysis. For nine years, he was the editor of Technical Analysis of Stocks and Commodities.

Customer Reviews

One of the most helpful
It may not be the most exciting writing/reading in the trading genre but when all is said and done one gets a lot from Trading in the Zone. It certainly helps to make concise notes and return to such highlights as often as one trades. Maintaining a probability oriented mindset is crucial for success in trading, and M.Douglas has made a major contribution in this area. Strongly recommended.

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.

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.