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Mark Douglas

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude Hardcover – April 1, 2000

by Mark Douglas (Author)

2,424 ratings

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Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.

Print length

240 pages
Language

English
Publisher

Prentice Hall Press
Publication date

April 1, 2000
Dimensions

6.27 x 0.86 x 9.26 inches
ISBN-10

9780735201446
ISBN-13

978-0735201446
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Editorial Reviews

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.

Review

Douglas explains to the trader just what type of mental mindset is needed to be a winner in the markets ~ and guides the reader along a path of self-discovery leading them to higher and sustained trading results. --- Global Publishing House

Trading in the Zone introduces a whole new mental dimension to getting an edge on the market. Use it to leverage the power of the "zone" for unprecedented profit. --New York Institute of Finance/Penguin Publishers

Please note that the audio version of Trading in The Zone is not read by Douglas. This version is read by a professional reader, most importantly, someone who is not a trader or in the investment industry. This is a distinction that may make a difference in your listening experience.

(This review applies to the AUDIO version only.) Please notethat the audio version of Trading in The Zone is NOT read by Douglas. This version is read by a professional reader, most importantly, someone who is NOT a trader or in the investmentindustry. This is a distinction that maymake a difference in your listening experience.

From the Inside Flap

Even the most astute, highly motivated, well-grounded traders can be crippled by counter-productive thinking that leads to poor decisions and trading errors. They suffer from an inability to stay objectively focused or lack the necessary confidence to execute their trades properly. Or they let mental contradictions and misconceptions about trading or the nature of the market rule their trades.

In this book the reader will learn that maximizing the trader's state of mind is the key to successful results. Douglas teaches traders to think in terms of probabilities and to adopt the core beliefs necessary to assuming the "winner's mindset." Traders in the "zone" don't need to know ~ and don't care ~ what the market is going to do next. They know what they are going to do next. And that makes all the difference.

From the Back Cover

"Although I consider Mark a close friend, I still feel privileged to write a review for a book that has made such a substantial contribution to the development and success of traders all over the world. Trading in the Zone is not to be read and placed on the shelf with the rest of the "trading" books. You'll find like many traders that its place is on your desk as a companion. And it's not just about trading. Trading in the Zone will also help you approach your daily life in a more positive and insightful manner. I continually recommend to the traders that I mentor to read at least three pages of Trading in the Zone a day. I've found it has the effect of transforming a person's thinking in ways that allow them to trade without the kind of fears that can cause them to make trading errors or generally get in the way of their own success."

Larry Pesavento
President, TradingTutor.com
Author, Coach, System Developer

"Trading in the Zone is a must read for any serious trader. It offers extensive insights into the development of the professional trader's mindset by giving the reader practical examples of what it takes to think and perform like a consistently successful trader."

Paula T. Webb
President, Path To Fulfillment™ Institute
Author ~ An Independent Prosperity

And more......

About the Author

Mark Douglas is author of "The Disciplined Trader™-Developing Winning Attitudes" considered an industry classic ~ and one of the first books to introduce the investment industry to the concept of trading psychology. Mark began coaching traders in 1982, and has continued to developseminar and training programs on trading psychology for the investment industry,and for individual traders. He hasbeen a frequent speaker at seminars across the world, as well as in the U.S.,teaching traders how to become consistently successful. Mark Douglas is also author of "The Definitive Guide" published in 2015, "The Little Book of Trading Performance" real-life coaching sessions co-written with Behavioral Finance coach Paula T. Webb, completed several years ago and recently made available in Kindle, as well as several other publications and media coming soon. More information - markdouglas.com.

ASIN : 0735201447
Publisher : Prentice Hall Press; Later Printing Used edition (April 1, 2000)
Language : English
Hardcover : 240 pages
ISBN-10 : 9780735201446
ISBN-13 : 978-0735201446
Item Weight : 1.19 pounds
Dimensions : 6.27 x 0.86 x 9.26 inches

Best Sellers Rank: #2,523 in Books (See Top 100 in Books)
- #10 in Stock Market Investing (Books)
- #37 in Economics (Books)
- #39 in Introduction to Investing

Customer Reviews:
2,424 ratings

Customer reviews

5 star		82%
4 star		10%
3 star		4%
2 star		1%
1 star		2%

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Top reviews from the United States

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customer

A Waste of Time and Money

Reviewed in the United States on September 23, 2018

Verified Purchase

This is a poor piece of work. The author seems to know nothing of the psychology of decision making, and not that much about the markets. His writing is graceless and repetitious, with pointless asides. The essence of Douglas's message is this: Develop a "winning attitude." And be disciplined. Don't have a neurotic relationship to the market. This is obvious stuff, and the author communicates it poorly. Some of the content is seriously misguided. For example, Douglas asserts, on no authority except his own say so, that the "true attraction of trading" is . . . self-expression. (At p. 18.) This is wrong: the true attraction of trading is . . . making money. Another example: Douglas claims that traders who think that the best way to get better at trading is to learn more about the financial markets are falling into "a trap" because "the market simply offers too many often conflicting variables to consider." (At p. 13.) Douglas repeatedly, and egregiously, devalues knowledge of the markets. I am tempted to make an unkind remark, but will refrain, and just say caveat emptor!

160 people found this helpful

Helpful

Cooper

just a Psychology book in general, but it will not make you a successful trader !

Reviewed in the United States on March 30, 2019

Verified Purchase

A lot of traders read this book and yet the majority of them are those 90% who still fail to make profit. The book says things in general with lots of cool quotes. This is a good foundation for start trading, but your future has nothing to do with this book. This book will not make you successful in trading.

For me it's a waste of time and money. This book was written by a guy who FAILED and LOSS at TRADING. The author did not succeed in trading at all.

48 people found this helpful

Helpful

John Thompson

Its Not Just a Good Book.

Reviewed in the United States on April 15, 2018

Verified Purchase

**** Please read this one**** Well, after reading over 100 books..I think "THIS ONE IS NUMBER ONE"... Its Not Just a Good Book.. But the Way He Explains it... Is Special... I am a Retired Race Car Driver/Instructor.... and Being in The ZONE... is the Same for Anything... You Do Mentally... Pool, Chess, Boxing, Snow Skying, or DAY TRADING.. As am Example.. ( Today is Sunday).. but.. Last Friday... I Made a New Yearly Record.. I did Eight Trades.. Making Money ON ALL of Them.. and Ended up with a 10.7% Profit In ONE DAY... Yes.. alone 11% in One Day.... But I was.. Totally In the ZONE.... and I feel I owe Much of it to Reading This Book.... Good Luck.. and Have a GREAT DAY.... JohnofSJ...

75 people found this helpful

Helpful

BASS!

Waste of Time

Reviewed in the United States on July 30, 2020

Verified Purchase

I wasted a whole afternoon slogging through this book, and there never was a payoff.

First, the book is FULL of a bunch of pseudoscience, magical thinking and other nonsense. The author speaks of topics of psychology, neuroscience and physics with clearly no real understanding of any of them. He seems to half-understand concepts from these fields, and then fills in the vast gaps in his understanding with pseudoscience and magical thinking. As just an example of this, at one point he mentions that tears contain negative ions (I don't know if this is true or not) and equates that with the body being rid of "negative emotions" and "negative energy". The book is filled with stuff like that.

There are no references whatsoever to all of the various "scientific" claims he makes. Luckily, I'm well-versed in modern psychology, neuroscience and physics myself to spot it for the almost complete nonsense it was.

Even that I could stomach if the book made some good points and had actionable things I could use as a trader. Unfortunately, that isn't the case. The book is filled with anecdotal stories (most of which have nothing to do with trading, and many of which are clearly made up by the author to make a point), metaphors, analogies, etc. By the time he finally gets around to making his points (about halfway into the book), they basically come down to:

-Realize anything can happen in the market
-Predefine (and know) your risk
-Cut losses short
-Let profits run

Even if you need to learn these things, there are far better books to teach these truly obvious and universally known basics without wasting your time with a bunch of non-relevant fictional stories. The book could've made it's points in a quarter of the pages.

So, if you believe in magic, psychic energy, positive and negative "energy", AND you've never read anything on trading before, you might get a small amount of value from this book. But if you know ANYthing about trading, there's nothing new here, and even if there were, it wouldn't be worth sifting through all the unsubstantiated nonsense to find it.

27 people found this helpful

Helpful

Teddy

fire emoji 🔥

Reviewed in the United States on October 11, 2019

Verified Purchase

Freaking fire emojis all day 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 i saw some Bad reviews Before receiving the book so I was a little iffy about it. I’m finishing up chapter 3 now but right from chapter 1 it’s packed with information that blew my mind. Idk what the rest of the book is about but so far its taught me that I’ve been asking the wrong questions to myself either consciously or subconsciously I would ask myself things like how can I read the markets better, what new technical analysis can I use And implement etc. vs asking a deeper question which is..... how do I think like a consistent successful trader??? 🤯🤯🤯🤯🤯 that question alone can help you breakthrough in your trading.

20 people found this helpful

Helpful

Faisal Al Sawadi

it's far better his first book "The Disciplined Trader"

Reviewed in the United States on August 9, 2017

Verified Purchase

This is a must read for traders, If you want to understand the fundamentals truths of trading, If you want to trade with a carefree state of mind, and more importantly, if you want to understand the trader's perspective and market's perspective, then you need to read this easy-to-read book.
Douglas made an outstanding contribution by writing this book, it's far better his first book "The Disciplined Trader". probably because he was more experienced and more educated when he wrote this one.

36 people found this helpful

Helpful

De Smiley One

Trade with Confidence and Consistency

Reviewed in the United States on July 1, 2018

Verified Purchase

Trading psychology is just as important , if not more important, than understanding technical analysis. Learn from the late, great legend of trading psychology himself, Mark Douglas. The narration is pleasant and not a distraction like many audio versions of classic books. I would highly recommend this classic to anyone who wants to trade at a serious level. It doesn't take the place of fundamental or texhnical analysis. It simply makes FA and TA work on a more consistent level. And consistency is what trading is all about.

18 people found this helpful

Helpful

Top reviews from other countries

Ramesh T

Every trader should own a copy!

Reviewed in India on June 27, 2018

Verified Purchase

This is THE best book in trading psychology. I believe all the top traders and the consistently winning ones owns or has read a copy of this. This book has now reached the top slots in my collection of trading related books. If you need to know few other books which you could consider owning, they are Reminiscences of a stock trader, How I made $2 million in the stock market, Trading psychology 2.0, The disciplined trader, Market wizards.

The book is a hard bound one with excellent paper quality. I definitely received an original copy.

71 people found this helpful

Luca Vella Petroni

A must read for every trader...

Reviewed in the United Kingdom on July 10, 2019

Verified Purchase

This is a watershed text on investing and trading psychology. Too often we underestimate the importance of individual mindset, psychology and particularly emotion on the effectiveness of our investing or trading systems. If we can our understand traits, strengths and weaknesses, then we can personalise a system which will improve returns. Douglas articulates the common dangers of trading, such as failing to take responsibility, and then gives us principles and tools to overcome them. Thinking in terms of probabilities and not ‘right and wrong’ is perhaps the most important single understanding. When we shift our thinking in this regard, and then devise objective rules in an effective trading or investing system, then we can be more objective and consistent. This book is a must anyone’s library.

13 people found this helpful

Sanjay Modak

Must Read for a serious Trader in Stocks and Derivatives.

Reviewed in India on July 20, 2019

Verified Purchase

I read this book completely with slow speed to grasp each and every chapter. I have had read other books also on trading psychology but this book appeared to me as the best among the same.
The author has in the beginning narrated typical journey of a trader and how most of the traders wipe out their entire capital within a year. The Book unfolds each and every characteristic of the nature of beliefs a typical trader holds which act as a hindrance in his trading journey. The comparison of trading with Casino operator is a perfect symmetry of the whole game. A novice trader first wins money, he becomes euphoric, then he looses money, he realizes need to learn various tools and a host of technical analysis. But, still he continues to loose money. The Author has analyzed why? There are hundreds of variables on which the markets react to. No trader, howsoever intelligent and knowledgeable can say for certain that a trade that he takes will win.
The Author has in subsequent chapters, given deep insight into molding the mental set of of a trader to be in tune with what market is offering. How an edge of a trader over others can work by just treating it as a higher probability and nothing else.
The magic of the solution lies in the last couple of chapters where the Author has asked the readers to pen down 5 Fundamental Truths about trading and 7 principles for creating consistency in winning.
I have taken down some important notes from the book for my own use. I go through these notes at least once in a week to stay my mindset aligned with the what the market is offering.

34 people found this helpful

Shepherd

Overhyped

Reviewed in the United Kingdom on June 30, 2019

Verified Purchase

Overhyped. I never connected with the book though I purchased this in 2014 and never finished it.

9 people found this helpful

K.A

Psychology of trading at its best - a must if you intend to trade professionally

Reviewed in the United Kingdom on February 7, 2017

Verified Purchase

Excellent book that will change the way you look at trading IF you have the mental discipline to do so. Can sometimes feel a little repetitive, this doesn't however affect the quality of the message, but I suspect Mark is fully aware that for most people, repetition is absolutely necessary for the message to actually register in the human brain. This book is about the psychology of trading, and about how reprogramming your psychology to think differently can positively impact your trading results.

5 people found this helpful

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