Trading in the Zone

  • by Mark Douglas
  • Narrated by Walter Dixon
  • 8 hrs and 7 mins
  • Unabridged Audiobook

Publisher's Summary

Maximizing the trader's state of mind is the key to successful results.
Conflicts, contradictions, and paradoxes in thinking can spell disaster for even a highly motivated, astute and well-grounded trader. Mark Douglas, an industry consultant since 1982, sends the message that a "thinking strategy" will profoundly influence a trader's success rate. Douglas addresses five very specific issues to give traders the insight and understanding about themselves that will make them consistent winners in the market.
Trading in the ZoneTM offers specific solutions to the "people factor" of commodity price movement. It uncovers the true culprit for lack of consistency when it comes to stock picking: lack of focus and self-confidence. Through simple exercises, traders will learn how to think in terms of probabilities and adopt the specific beliefs necessary to developing a winner's mindset. Along the way, they'll gain valuable insights into their own entrenched misconceptions about the market.
Backed by compelling examples, Trading in the ZoneTM adds a new dimension to getting an edge on the market. Through a better understanding of themselves, as well as of Wall Street's realities, traders will come to leverage the power of their psyche for unprecedented profitability.

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What the Critics Say

"[G]iven trading's risks, this book could assist experienced investors willing to engage in self-reflection." (Publisher's Weekly)

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Customer Reviews

Most Helpful

Left me feeling inspried

Several of my friends raved about this and I was pleased it was available in audio form so I went in, still I admit feeling sceptical. After all I've been trading 15 years, so I am already great right? Oh how wrong I was. Every example of a mistake I have repeatedly made was laid out clearly here with reasons why human psychology makes us repeat the same mistakes over and over again.

They say that 5% of poker players make money, the rest tick along or lose and yet millions still play. Same goes for trading, we are all there looking for the big winner. The book explains how trading is little to do with fundamentals and more to do with unhooking our deeply rooted beliefs instilled as we grow up. A child is told dozens of times a day what NOT to do, then they hit 18 become a trader, get a few lucky trades and there is nothing to stop them.

Mark Douglas doesn't offer you the get rich system you should use, it is assumed that anyone reading the book trades already using some technical analysis such as fibonacci retracements, MACD, RSI etc. But he does make you instantly realise that the market is not an enemy which always goes against you, it is there to be treated as a game of probability which you can play using your edge to in the long term to be a consitent winner, dare I say even a trader, rather then the gambler this book made me realise perhaps I am currently better categorised as.

The psychology insights were very interesting throughout. It could easily be viewed as a dull book, yet it kept me gripped throughout. A real revelation. I am really looking forward to trading with less stress, no emotion and paranoia free and buying that first yacht (ok dinghy)
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- Mark

Excellent book on the psychology of trading

This is one of those books to read again and again. Probably the best book on the market focusing on the psychology of trading. Mark Douglas covers how to train your mind to become a consistent winner in the markets and teaches you a way to make this instinctive and effortless. This book is a must read for all levels of traders. (The book is aimed at traders with knowledge of technical analysis).
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- Fozzy

Book Details

  • Release Date: 12-05-2011
  • Publisher: Gildan Media, LLC