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Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
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Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

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4.25  ·  Rating details ·  3,930 ratings  ·  269 reviews
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 ...more
Hardcover, 240 pages
Published January 1st 2001 by Prentice Hall Press (first published April 1st 2000)
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Sharayah Given the nature of this book’s text, I’d recommend text. If you’re trading, you’ll want to make highlights and easily revisit key points in this book…moreGiven the nature of this book’s text, I’d recommend text. If you’re trading, you’ll want to make highlights and easily revisit key points in this book as you continue your trading journey.(less)

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 ·  3,930 ratings  ·  269 reviews


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Duffy Pratt
Apr 30, 2010 rated it really liked it
Shelves: trading
The author repeats himself. The book is full of pop psychology and bad science to illustrate or prove his points. If cut down to the core, the book could probably make a very nice five page magazine article. And yet, for traders, I think this book is invaluable. Most could benefit from reading it again and again.

If you trade, and cannot make yourself consistently successful, then the chances are that you harbor some beliefs that work against your success as a trader. The trick is to find, and ne
...more
Marcelo Bahia
Apr 10, 2015 rated it did not like it
Put a self-help approach on a trading book and you get this. It’s cheesy psychology all the way, full of superficial and predictable clichés such as "don’t put blame on the markets", "develop a winning attitude", "fear is the source of 95% of trading mistakes so learn to accept risks", among others. Almost halfway into it, when a section about mental framework turned into an explanation about how thoughts and dreams are a form of energy, I noticed I was about to vomit. I stopped reading and retu ...more
Alexander Lee
Sep 30, 2015 rated it it was amazing
Top practical trading book read-to-date.

The book covers the psychological aspect within one-self that prevents him/her from reaching consistency. The most common logic for new traders is to try to learn every method available to them. If they fall short of success, they attend more webinars, seminaries, and read more books, only to confuse themselves further. They've succeeded at 'step 1' but continue to fall back into trying to find new/more trading methods/tools (indicators, charting systems
...more
erjan avid reader
Apr 24, 2016 rated it it was amazing
Shelves: trading-classics
this book totally blown my mind! It must be number 1,2,3,4....20 book in the list, seriously!

Because it unveils the nature of trading to the core! It exploded my mind...

No other book on psychology comes close to this.

I have only read 30 /143 pages and this was enough to get deeply impressed!

the author just opened my own mind and pointed to me the distinction: trading is total freedom without rules, where rules have to be set by me AND followed,abide by me as well!

trading offers complete freedom
...more
Zack
Jun 02, 2011 rated it it was ok
Recommended to Zack by: Everyone and their mother.
Shelves: trading, non-fiction
Considering how highly and oft mentioned this book is, I was rather unimpressed. The authors main points are fine and good. But boy does he ramble and bullshit. There is so much bad science and pop psychology in this book. And many times he says things like, "I wont go into depth about this," but then he rambles about that or another subject.

For instance about 3/4th of the way into the book he spends time talking about what a trend is and how to identify it. Seriously? Not only should the reader
...more
Armilat
Nov 24, 2015 rated it it was amazing
This book is one of the favourites for traders. I have heard enough stories about how this book has helped traders make the necessary mental shift to become profitable traders. Instead of believing in what others said, I read the book and judged it for myself. I will not say that it had such a fundamental impact to me but I cannot deny the book did helped me figure out certain things in trading. Not everyone can pick up the same amount of useful ideas from the same book. Different people have di ...more
Lee Spano
Nov 12, 2014 rated it it was amazing
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 ...more
Katie Eddings
Sep 30, 2015 rated it it was amazing
This book is so well written - it goes through in detail the psychological reasoning behind consistency with trading. I got a lot from it- and its changing the way i trade. Stick with it though, there are quite a few "in-depth" chapters but through explaining these with repetition and associating them with an analogy, Mark taps into our learning and gets the info required through to us! You needs to study psychology? I learnt so much and am so grateful that this book was writtten as it address t ...more
Ming Wei
Jan 23, 2019 rated it really liked it
A good book to read if you are trying to develop you mindset, and remove emotion from your trading. I found this book very beneficial, but it is more useful to newbie traders, rather than experienced traders that have been trading for 3+ years. The problem for most traders is human emotion, and maybe reading this book, will help potential traders reducing their emotion levels. It is one of the better trading related books that I have read. Well written, easy to follow and understand. I enjoyed r ...more
Beverly
Dec 20, 2009 rated it it was amazing
If you're playing in the stock market, this book is worth a read. It's not about the technicalities of the market, it's about bringing your own consciousness to bear on your trading. I found it refreshing and fun.
And very inspiring. (I'm learning to trade stock options, and it's useful for that too.) In fact, you could apply it to your life. Dealing with beliefs and de-energizing them. Not bad ideas!
...more
Joma Palana
May 12, 2015 rated it really liked it
Rare book about the stock market that talks about the psychology of trading. A bit rambling but the insights of the author are refreshing and gives perspective to what the stock market really is: an unpredictable and unfeeling mechanism that nevertheless provides opportunities for profit if we have the correct mentality. It is not about knowing what will happen, but working on the fact that we do not know what will happen.
Peter
Sep 28, 2015 rated it really liked it
Must read for anyone who is in trading. It won´t teach you how to trade, but It may enlighten you as to what real trading is about (hint: is NOT about KNOWING what the market is going to do).
If you have been trading for some time, it probably won´t be as revealing as if you are new to the discipline... but it still can give you one or two pointers/reminders to keep you on the right track.
Hope this review helps!
Leo Bharata
Aug 22, 2014 rated it really liked it
It is not a technical or fundamental analysis book, but what being written here is a very important concept or mind set. It is not a book for those just began trading as it might be quite hard too understand. The most important pages are on the last chapter. The book will be great if the earlier pages told in a way that is more easy to understand.
Shane White
Dec 31, 2014 rated it it was amazing
This book literally changed my trading over night. People think that trading is about set-ups , technical analysis, pattern recognition, ect. These things are obviously part of trading. But in my opinion , far from the most important. Discipline , control, and lack of a better word....zen. These are the things that will make you rich in the markets.
Eric Elegado
Jan 09, 2016 rated it really liked it
I was surprised that I was actually gonna get something that I didnt know yet. When I read this book, it changed my perspective and mindset as to how I should deal with market trading. Since then, Id say Ive become more mature and profitable as a trader, whether that's in the stock market or in forex trading. I'd say this: you really have to unlearn what you've already learned.
...more
Vincent
May 04, 2013 rated it it was ok
This book was nothing like I thought it would be. It was a little too heavy on the psychological mumbo jumbo, and much too thin on content in my opinion. Since this is my review, it's my opinion that counts! Venture at your own risk, only if it's a FREE library book. ...more
Mark
Jan 18, 2008 rated it it was amazing
Wish I had read this book when I first started trading. Would have saved me a lot!
Amit Srivastava
Aug 27, 2014 rated it really liked it
An indispensable book on trading psychology. However, it could have been as effective even if the volume of content was reduced to 50%. Except for the excessive narratives, it is 5 stars!
Elizabeth Tan-ong
Jan 18, 2015 rated it it was amazing
Most important book for traders.
Harry Naing
Feb 03, 2015 rated it it was amazing
Shelves: fav, trading
If I were to choose one book on trading, this is it! Definitely a "must-read". ...more
Arek Piwowarczyk
Apr 07, 2015 rated it it was amazing
Personally this is the bests book I've read on psychology of trading - a must read for any trader! ...more
Enrique
Jun 01, 2015 rated it it was amazing
Very good book, good message for all that people who would like to be consistent in trading, however it can be more straight forward.
Fernando Luchesi
Jan 24, 2016 rated it it was amazing
A "must read" book if you want to be a consistent trader in the stock markets.

Leitura obrigatório se você quer ser um trader consistente na bolsa.
...more
ScienceOfSuccess
Oct 15, 2019 rated it it was amazing
The most universal book on the topic of trading, focused mostly on psychology.
Jonathan Birnbaum
Aug 27, 2020 rated it it was ok
As I invest time (and money) into improving my ability as a trader, I was eager to go through a book on trading psychology. The book has some good advice sprinkled throughout, but the author goes off on tangents that are needlessly pseudo-scientific to land fairly simple points, such as the power of beliefs influencing your perception of reality. The narrative wasn't tight, nor was there anything 'aha' or tangible. Nor should there be, probably, as the secret is - like anything desirable - that ...more
Murilo Forte
Oct 12, 2020 rated it it was amazing
“I AM A CONSISTENT WINNER BECAUSE:
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”
Sangam Agarwal
May 30, 2020 rated it did not like it
This book is all about psychological problems trader unconsciously face. Read tony robins Awaken the giant within that will help you better than this or you may read power of habit for more better performance
Hannah Obzunar
Feb 04, 2020 rated it it was amazing
I love this book so much. It helps me to equip my trading journey and I've learned a lot of it specifically in Trading Psychology. ...more
Nishant Grover
Dec 17, 2020 rated it it was amazing
Gem of a book...a must for every investor.. beautifully explained about the zone and various psychological factors.
Terry Kim
Nov 29, 2015 rated it it was amazing
This book had a profound effect on the psychology of my trades. One of the best reads for Trading Psychology. This book is almost spiritual and philosophical rather than based on techniques to trade stocks. It makes you think deep about your inner game, on why you make the trades and how you feel when you do.

The biggest epiphany I had while reading this book was that, it is not the stocks you buy, it is not the prices you buy that determines your long term success. It is rather dependent on your
...more
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