Product Description

Picking up where "The Disciplined Trader" left off, this book bridges the gap between thinking the market is actually doing something and actually making the trade. It is designed to give readers the insight and understanding they need about themselves and the nature of trading that will earn them constant success.

Product Details

• Amazon Sales Rank: #6145 in Books
• Published on: 2000-07-01
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 240 pages

About the Author
Mark Douglas is a former commodities trader with Merrill Lynch. He is president of Trading Behavior Dynamics; a Chicago based training organisation. He develops seminars on trading psychology and provides seminars to a wide variety of professional organisations.

Customer Reviews

Mindtastic
An excellent book regarding trading psychology. You'll get the most from this book if you already have a trading system or method in which you have some confidence but don't seem to be able to execute the trades as effectively as you would like.

This book taps into your belief systems, which in turn determine your actions, in a very coherent manner. It is no exaggeration to say that if your trading methodology has a genuine edge, this book could transform you into the owner of you very own casino if you allow it to.

The knowledge the author offers is also applicable to other areas of life including quitting smoking - its all about positively energising the concept that you're a non smoker and de-energising the concept that you are a smoker. Before you turn off condemning that comment as psycho-babble, you should remember, as the author explains, to keep your mind open to receiving information from an objective perspective rather than filtering information according to what you already believe to be true ; ).

To attain the best possible impact on your trading mindset read with an open mind, make notes, re-read, and re-read again as the knowledge the book contains has to sink deep into your personality and character to have the most beneficial effect on your actions in the real life trading arena.

An exceptionally fine book on the most important aspect of trading in which the author selflessly shares his soul in addition to his knowledge. Top marks to Mark Douglas!

Not a Strategy But Very Useful
If you are trading or want to become a trader I give this book a strong recommendation. If you are looking for a system or strategy then look elsewhere as this is not the purpose of this book. The main thrust is explaining how you become a trader, and anyone who has tried and is having difficulty will understand the problems. Most if not all of the problems I have experienced are mentioned in the book, which to me at least demonstrates that he knows what they are as he had them too and how to overcome them.
A little bit repetitive and distractive at times, hence only 4 stars, but I read it in a weekend so it is not to hard going.
Recommended if you are starting to trade or wonder why you are not progressing as you expect.

One of THE fundamental trading books
As a new day trader (with less than 12 months experience), I found this book to be at first a little verbose, and as a consequence, sometimes difficult to follow. However, there is much in this book that touches on 'real life' trading experiences and I found that once I started to apply the theory that Mark Douglas preaches, I felt a huge shift in my approach to and the results I got from day trading. If you're looking for a 'five step, quick and easy' way to succssful trading, you'll not find it here (or in any other book for that matter). This is a book for the trader who's looking to apply a strategy that they're already familiar with, to the best of their ability. It focuses almost purely on the psychological, and in doing so touches on the practical along the way. It asks the reader to completely re-program the way they think about the markets, about their trading style, about the way they perceive. This in itself requires hard work - but then who said trading was easy? I've read a previous review that gave this book a mere 1 star. I can only say I'm sorry that the reader didn't get as much out of this book as I did. After re-reading the book for the second time, things started to really sink in, and the results are clearly reflected in my trading account. In my view, when psychology is 95% of trading, this book MUST be one of THE fundamental books for day traders, whatever market they trade in.