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Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude Hardcover – Jan. 1 2001
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From Publishers Weekly
Copyright 2000 Reed Business Information, Inc.
About the Author
- ASIN : 0735201447
- Publisher : Prentice Hall Press (Jan. 1 2001)
- Language : English
- Hardcover : 240 pages
- ISBN-10 : 9780735201446
- ISBN-13 : 978-0735201446
- Item weight : 510 g
- Dimensions : 16.08 x 2.29 x 23.6 cm
- Best Sellers Rank: #3,913 in Books (See Top 100 in Books)
- Customer Reviews:
About the author
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Top reviews from Canada
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If the concept of thinking in terms of probabilities and executing mechanically is a foreign concept to you, then there are some valuable high-level nuggets in here that you can take with you. In order to get to them though, you'll have to wade through a lot of noise. As others have mentioned (and I'm paraphrasing), you'll read about human tears containing "negatively charged energy", and the benefits of crying. "Energy structures" in the brain, and exchanges of "energy".
"My personal theory is that beliefs are not only structured energy, but also energy that seems to be conscious, at least to the extent of having some degree of awareness"
Ruminate on that!
If you can manage to ignore all of that stuff, what you're left with appears to be pretty sound guidance about how to overcome some of your bad trading behaviours. Whether he was aware of it, and elected to just not mention it by name, or it was a happy accident - the underlying strategies presented seem to have a lot of parallels to cognitive behavioural therapy (CBT) and mindfulness. There's pretty widespread use of both of these approaches in modern psychiatry, but also an onslaught of 'McMindfulness' from the self-help guru industry.
If you can get past the woo-woo energy stuff, and look at the guidance through the lens of CBT/mindfulness, then this book could help you conquer some of your bad trading behaviours, and is worth picking up.
Top reviews from other countries
The book is a hard bound one with excellent paper quality. I definitely received an original copy.
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.
I'm so excited to finally get off the boom and bust roller coaster of fear, anxiety, hesitation, self-doubt, euphoria and recklessness and I know without a shadow of a doubt that this book contains the solution to the majority of my trading issues and will allow me to trade in an entirely different way! This book has changed my entire mindset and I feel like over the course of the 5 days it has taken me to read this book the blinkers have been shed and I now know with a cast iron certainty that I cannot EVER know or predict the outcome of any one trade and the best thing is IT DOESN'T MATTER! As long as my edge allows me to make money over a series of trades according to probability then my risk is just the price of me achieving this win rate.
Literally a life changing A-HA! moment in my life! I just wish someone had beat me over the head with this book 11 months ago!
Obviously I will have to work and continue working on these concepts and techniques as I have 11 months of bad habits already established that I have to suck the negative energy out of - but just knowing what I need to do to get where I want to be is invaluable to me. I'm not even kidding when I say I almost burst into tears when I started reading this book because I knew immediately I had found the solution to the trading problems that were causing me so much mental anguish.
I'm just sad mark Douglas is no longer with us as I would have liked to thank him personally for writing this book. (Also check out his 4 part workshop on youtube it greatly complements and expands upon the concepts and techniques in this book)
Reviewed in the United Kingdom on July 10, 2019
Reviewed in India on May 21, 2021