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Tired of losing money? See how trading may look and feel like. Would you like to be armed with these skills? Read this book today. Charting and Technical Analysis. Invest and trade making good decisions with your money. Learn when to invest, when to trade, and when to keep your money safe. Are you worried about your crushing student loans debt crippling you for years? This book teaches you how to get your financial life in order! Share your thoughts with other customers.
Write a customer review. Read reviews that mention disciplined trader trading in the zone mark douglas must read highly recommended read this book trading psychology reading this book writing style best books waste your time new age successful trader ideas presented technical analysis good book developing winning winning attitudes highly recommend psychology of trading.
There was a problem filtering reviews right now. Please try again later. I read this, and the book, "Trading in the Zone" years ago, and "didn't get it", despite my "cute" little markings in the book, and all the highlighting. Unfortunately, I did not have a clue before, and thought I could use my wits and cleverness to get ahead "without" everything that he outlines.
It is, and will continue to be my "Trading Mental Bible", and I will brainwash myself with this until it penetrates every synapse I have. This is truly a Must Read if you are serious about trading the markets. Kindle Edition Verified Purchase. I wish i would of read this book before i started my journey into trading but am glad i have read it now. Very good info on the mindset of that we should be using. Thank you Mark Douglas and your team for putting this book together. Even if you dont use this book for trading, the mindset to establish to help you look at yourself for finding peace in your life is worth the read.
Cant beat the advice. If you are going to be trading stocks, this book should be mandatory on your shelf. One person found this helpful. If you are interested in more accurately perceiving object reality rather than your filtered versions of it then this book is for you. Douglas explains how beliefs filter reality.
He then goes on to explain how to manage your beliefs, such that you become more adaptive and learn faster from experience. He provides specific mechanical steps for engaging in belief change. This book is actually about becoming more fully conscious! Douglas shows you how. To appreciate this book, you really do have to understand the IB phenomenon as described in that book An earlier reviewer quotes this from the book, poking fun at it: Beliefs, including predictions and judgments, are in fact filtering your perception of objective reality.
This means that what you believe has everything to do with what you notice or perceive. This book is actually a classic, from a layman, on cognition and cognitive process. The biggest contribution to cognitive science here is the coverage of fear and how fear narrows perception in a very dangerous way for traders. Approach the book as a cognitive science book written by a very experienced and knowledgeable layman and you'll enojy this book tremendously.
The subject matter is applicable well beyond the trading domain. However, since trading is so psychologically demanding, it is in fact a laboratory for understanding cognition and cognitive effects produced by emotions like fear. Buy this book if you want the inside scoop on how you actually are perceiving the world around you. This book is not about charting, analysis of stocks, or mathematical methods on how to cut losses and make profit.
Actually it contains no single stock chart.
It does address the psychology of trading in general and our own in particular. What makes it a good book is the fact that it was written by a trader not a psychologist. The author focuses on mistake we make "like compounding our losses" and the deviating effect it has on us. He discusses how fear can blind us from seeing the correct market direction. Finally, he mentions that treading is all mental and that was my experience as well.
The book could have been improved by much had been accompanied by charts and common mistakes people do in shorting and going long in different markets.
I would recommend it for the price, it is worth for frustrated traders. I just completed my third reading, and this book is a true classic! The best advice I get out from this book is about "Perfection of the Moment" - there're no failures or mistakes in trading, they are only reflections of what one needs to learn to grow Every page is full of insights, and I am amazed by Douglas' ability to dissect a complex subject and write them in such a precise and easy to understand manner.
Highly recommended to new traders! I read and re-read his later book "Trading in the Zone" recently. I would highly recommend it too! See all reviews. Most recent customer reviews. Published 2 months ago. Published 3 months ago. Published 4 months ago. Published 6 months ago. Published 11 months ago. Published 1 year ago. Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more about Amazon Giveaway.
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Trading takes discipline and self knowledge. Nothing you can 'learn', because you have it; you have to adjust you r belief system to realize it. The brokers and other vultures see them coming. It is the biggest scam known to man. But you can 'beat the system'; it all depends on your perspective of success. Jun 15, Jason Field rated it it was amazing Shelves: All in all a book every trader needs to read and use as reference source.
Some cross overs exist with "Trading in the Zone" another book by Mark Douglas but not significantly, and at times the writing can feel a little dry and repetitive - however the knowledge attained out of this book is all worth it, whether it is new or refreshed. Jun 06, Brian Yan rated it liked it.
Could had been a 50 page book. Jun 17, Trevor Mulaa rated it really liked it Shelves: Updating my favorite trading book to this one. Jan 23, Paul Barnes rated it it was ok Shelves: Psychology is the hard part of trading to get right. The first chapter is very good, but I found no value in the rest. Jul 21, Jack Hart rated it it was ok. This is a hard book to review because on the one hand it's not very good, but on the other hand were it a little better organized, a lot less repetitive, and were the sentences not so flat and grinding, one senses it could have been a trading classic.
Its virtues are its sincerity, the sense that its author is immersed in thinking through the inner game of trading, and his willingness to risk hyperbole to convey his convictions.
Goodreads reviewer Matthew Phann recorded a reaction that I recogni This is a hard book to review because on the one hand it's not very good, but on the other hand were it a little better organized, a lot less repetitive, and were the sentences not so flat and grinding, one senses it could have been a trading classic. Goodreads reviewer Matthew Phann recorded a reaction that I recognized as my own: The pre-disciplined trader, in Mark Douglas's self-creation myth, is like the programmer-hacker Neo in the film The Matrix.
At the beginning of the film he's immersed in a "dream world," but with the help of an experience of what Douglas calls "forced awareness" and a lot of deep reflection he is able to use a favorite phrase of Douglas's "to release himself from" the conventional, fake, herd world. Douglas describes his own liberation after going bankrupt as follows: This sense of appreciation began to grow into a deeper level of understanding about the basic nature of my identity.
Even after you have learned all of the skills set forth in this book, at some point in time it will probably occur to you that your trading is simply a feedback mechanism to tell you how much you like yourself in any given moment. After you have learned to trust yourself to always act in your best interests the only thing that will hold you back is your degree of self-valuation.
That is, you will give yourself an amount of money that directly correspond with what you believe you deserve based on some value system you acquired at some point in your life.
The more positive you feel about yourself, the more abundance that will naturally flow your way as a by-product of these positive feelings. So, in essence, to give yourself more money as a trader you need to identify, change or decharge anything in your mental environment that doesn't contribute to the highest degree of self-valuation that is possible.
So there's a sample of his prose, as well as a vision of enlightenment and its fruits as set forth in The Disciplined Trader. To go back to The Matrix analogy, in Douglas's book the two worlds are called the "structured" and the "unstructured" world. The structured world is also called "the cultural environment.
The unstructured world is of course "the market environment. It can do anything at any time. One will be tempted to hold onto one's position in denial that one was wrong and in the hope that the market will reverse and "make one whole. The foundation for this self-love, though, is a kind of aversion to the ways of culture at large in favor of a privately acquired, hard-to-achieve mental independence which manifests itself as a cheerful confidence that harbors no fear. The market, however, has no vested interest in supporting anyone's illusions about himself. If a trader is feeling fearful he can try to cover it up all he wants but his trading results will readily reflect his true feelings.
The argument seems to be that the market is the truth, and if you can be without psychological damage that causes you to want to dissemble before your fellows then you can be the truth too and thereby make yourself congruent with the market--and know what it will do. It's a bold argument made in detail and while it's probably clear I think it's a little over the top I want to acknowledge, following Phan's remark, that in at least a mythological way the book probably gets something quite right.
For someone interested in a library perusal I'd say The first eight chapters are better than the last nine. Apr 09, Mark Q. The book was recommended by a trader I respect, however I find the writing so bad--repetitive, confusing, pointless sentences, actually, entire chapters that are gibberish--that I don't understand what the trader saw in this book. I find myself talking to the author saying "really, this is the best that you can do? A friend told me that the entire book is captured in the last two chapters.
I'm going to skip the rest of the books and see if he was right. In one of the reviews on this site someo The book was recommended by a trader I respect, however I find the writing so bad--repetitive, confusing, pointless sentences, actually, entire chapters that are gibberish--that I don't understand what the trader saw in this book. In one of the reviews on this site someone said that paraphrasing if the writing were better this could have been a classic investment book. But God the writing is so bad! I'm sorry if the author reads this and it hurts his feelings because there is great information in here.
But he either needs to spend more time writing it, get a better editor, or find someone to co-author it with. Sep 07, Alvin Lim rated it really liked it Shelves: Offers rare insight from an expert in the dynamics of trading psychology.
Shows why most traders are unprepared for the strategies required for success in trading, and why behaviors which are learned to function effectively in society are often formidable psychological barriers to trading profitably. Shows that the chaos isn't in the markets Apr 08, Terry Kim rated it really liked it.
A good book on psychology and behavior of successful traders. Bulk of the book is more focused on the self-development, psychology and philosophy to a successful life not so much trading specific. There were parts where I found the book quite boring but the last few chapters had some good points, such as practical tips on how to develop yourself as a successful trader.
Aug 30, Danmcgohan rated it liked it.
One of the first books to address the psychological nature of how successful traders think ~ The Disciplined Trader™ is an industry classic. Douglas helps. Editorial Reviews. Review. One of the first books to address the psychological nature of how successful traders think ~ The Disciplined Trader™ is an industry.
Not what I was expecting. Douglas teaches how to eliminate past beliefs that interferes with rational decision making. Although the book is concerned with economic trades, the methods taught can apply to most all areas of life.
Mar 04, Ruzica rated it it was amazing. This review has been hidden because it contains spoilers. To view it, click here.
A must read for anyone the least bit interested in investing in the stock market.