Regular marked price: $50.00Discount Price: $31.50
Cost Savings: $18.50 (37%)Price fluctuation possible.
How soon does it ship: Normal ship time within one day
Shipping? Absolutely FREE if you qualify for Super Saver Shipping.
Type of bind: Hardcover
Dewey Decimal Number: 332.64
EAN num: 9780735201446
ISBN number: 0735201447
Label: Prentice Hall Press
Manufacturer: Prentice Hall Press
Quantity: 1
Page Count: 240
Printing Date: April 01, 2000
Publishing house: Prentice Hall Press
Release Date: January 02, 2001
Sale Popularity Level: 975
Studio: Prentice Hall Press
Editor's Notes and Comments:
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 sucess 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.
User popularity level:
Rated by buyers 
-
I've been trading for over a year with mixed sucess - wildly successful trades followed by crashing defeats and back again. This book helped me to finally understand why - inconsistency in my trading habits - and better yet, what to do about it. I recommend it for anyone, novice or expert, who wants to understand how the mind works and how our thoughts, beliefs and attitudes affect our sucess in trading and in life.
Rated by buyers -
A few times I thought about buying this book, but after reading the negative reviews I said I wouldn't buy it. I actually read alot of the reviews and wavered back and forth. Well I'm happy to say I bought and now have read this book and could not put it down. I have to say this book puts the whole trading process in a nutshell. I've taken expensive courses that still didn't help my trading ability. This book has successfully told me why and I now know what needs to be done. I recommend this book whole heartedly to any one who has traded and lost much money as it will and does explain why and what one needs to do to to change the whole losing process.
Rated by buyers -
By the very fact that you are looking into this book you likely already know the critical elements to successful trading include (among others):
1. Defining and edge - technical / fundamental analysis - the fun stuff
2. Money management - define the amount you will spend to determine if your edge is working and if not cut your losses early
3. Record keeping - not just to help with taxes and to verify the broker's records, but to act as a journal to learn from your successes and failures to constantly improve your edge and state of mind
4. State of mind - what is so fully presented in Trading in the Zone
And of those elements listed above, it is easy to recognize that your state of mind is the one that is most often overlooked.
What I loved about this book is that it stayed true to its intent and did not stray off the subject. What I didn't like is that because of the depth that he goes into, I sometime found myself wondering if this is a book for traders or for psych students. But overall what I got from this book far outweighs any negative and I highly recommend it.
Rated by buyers 
-
I found the very first half of this book rather disappointing in the same way as I found The Disciplined Trader: Developing Winning Attitudes disappointing. Too many babbling chapters that boil down to a simple point like "don't fight the market". Too much dodgy pseudo-science about negatively- and positively-charged energy, and too much reliance on non-trading analogies.
The book really redeemed itself in the later chapters with its points about thinking purely in terms of probabilities, expecting the unexpected (see also The Black Swan: The Impact of the Highly Improbable), and accepting that you are fallible (see Soros).
This book will not give you a concrete strategy for beating the markets, except possibly this one: Approach trading like you were operating a casino. Bias the dice slightly in your favour (through fundamental analysis, pattern-spotting, or whatever) and if you roll (trade) enough times then you will generate consistent profits. Accept that in the meantime any one trade can go against you. Relax, and don't fight the market!
Tony Loton, author --
Financial Trading Patterns
DON'T LOSE MONEY! (in the Stock Markets)
Rated by buyers -
Douglas discusses five fundamental "truths" of trading which tend to boil down to getting yourself to the point where you can believe anything might happen. The benefit of this is that you'll begin to think in probabilities rather than getting locked into a position that your trade is the right one or wrong one and letting your behavior be driven by the emotions that may accompany that mindset. He includes chapters on taking responsibility, the dynamics of perception, understanding the nature of beliefs and the impact of them on trading as well as working with your beliefs and obtaining self-discipline. Some of his writing is very basic psychology but just as there's a big difference in reading a diet book and actually eating in such a way as to lose weight day in and day out, there's a big difference in reading this while nodding in recognition and actually doing the work to integrate it into your trading. If you absorb and apply the insights and do the exercises he includes, your trading is bound to benefit. But that's because you're applying self analysis and self discipline and both are required for successful trading. I'm giving it four stars because I think it could have used additional editing--the very first few chapters could have been trimmed into one.
Find other books like this one:
