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| Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude | 
 enlarge | Author: Mark Douglas
Publisher: Prentice Hall Press
Category: Book
List Price: $50.00
Buy New: $26.88
You Save: $23.12 (46%)
Buy New/Used from $24.99
Avg. Customer Rating:  (162 reviews)
Sales Rank: 5052
Languages: English (Original Language), English (Unknown), English (Published)
Media: Hardcover
Number Of Items: 1
Pages: 240
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6.3 x 1.1
ISBN: 0735201447
Dewey Decimal Number: 332.64
EAN: 9780735201446
ASIN: 0735201447
Publication Date: April 1, 2000
Release Date: January 2, 2001
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 Hang in there for the later chapters September 25, 2008
2 out of 3 found this review helpful
I found the 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)
Good discussion of psychology of trading September 9, 2008
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 first few chapters could have been trimmed into one.
 A book that offers great value September 6, 2008
Internalize the 5 fundamental truths as proposed by Mark Douglas, they are applicable not just to trading but also to one's career and personal life. In my opinion, a must-have in one's personal library.
Don't place another trade until you read this book July 17, 2008
1 out of 1 found this review helpful
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.
Great book... a whole new level of personal insite!!! July 6, 2008
This is a super book.
The focus is on improving yourself as a trader, but the material can be applied to any aspect of yourself that you wish to understand or improve.
The explanation about how the our minds create, maintain and use our beliefs is very clear and simple. The explanation of how are minds function with exiting beliefs is followed by methods for overcoming limiting behaviors and instilling new beliefs.
A quote that I think we have all been told in some form or another has much clearer personal meaning after reading this book.
"When it comes to personal transformation, the most important ingredients are your willingness to change, the clarity of your intent, and the strength of your desire."
If you're willing to work on yourself, this book is a fantastic guide.
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