Product Description

Meet the unusual psychological demands of trading in a step-by-step guide to decision-making, implementation and follow-through.

Product Details

• Amazon Sales Rank: #63852 in Books
• Published on: 1990-05-01
• Number of items: 1
• Binding: Hardcover
• 256 pages

Synopsis
This work aims to help traders learn the critical behaviours necessary in responding to market conditions and opportunities. The author - an experienced commodities trader - has considered and confronted the problems he experienced in trading.

From the Publisher
Learn how to develop a complete winning attitude
With rare insight based on his first-hand commodity trading experience, Mark Douglas demonstrates why the beliefs learned to function effectively in society are often formidable psychological barriers in trading. "The Disciplined Trader" helps you join the elite few who have learned how to control their trading behavior by developing a systematic, step-by-step approach for winning -- week after week, month after month.

In a comprehensive and logical manner, Mark Douglas shows you how to examine and limit your trading behavior -- how to develop the mental discipline possessed by the small minority of winners who make money consistently.

Mark Douglas is President of Trading Behavior Dynamics, Inc. A successful commodities trader himself, Mark has drawn on his own experiences - as well as observations of countless other traders in his consulting business to identify and develop methods for overcoming counterproductive trading behaviors. He conducts his own seminars and workshops for leading commodities and brokerage organizations as well as being an invited speaker at numerous investment conferences around the world.

Customer Reviews

Could use some editing
This is despite the presentation a great book. Poorly organized but well worth a read. I am a professional trader and have no use for another book on technical analysis or investment fundamentals. My main struggle is to stick to what I know and to keep confidence. The author does an excellent job explaining the psychological pitfalls facing traders. Recommended.

Essential addition to any trading library
Trading is 90% psychological and 10% technical, you need courage to buy near the bottom and patience to wait through all the fluctuations and retracements. This book helps you get to grips with the psychological stresses of trading and is a must read for every trader. You MUST read this book!

Poorly Organised, UNREFINED but WONDERFUL ARGUMENTS
I have read this book more than 3 times, and am still reading it because of two reasons:
1. The ARGUMENT holds water and can defenitely be USEFUL in effecting positive change in trading behaviour and consequent trading results.
2. The ideas are UNREFINED, presented CLUMSILY and poorly organised with a lot of repitition and unnecessary rattling of words. There are general marking of the direction but no clear road marks for a trader to follow.
That is why I am reading it again and again in a hope to refine the ideas into a more practiceable form. I would not vote against it if you are ready to put effort to organise yourself the ideas in this book. However, as a trader with necessary knowledge of psychology, I find this book dangerous at points when author becomes too specific suggesting tools to effect psychological change with an apparently poor knowledge of psychology, hypnosis and NLP.
I have given it 3STARS only because of it's fundamental arguments about the nature of the market and mental resources needed for trading success. These ideas are no doubt worth knowing at this price.