Trading In The Zone / Get Your Free Copy
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Review
Douglas explains to the trader just what type of mental mindset is needed to be a winner in the markets ~ and guides the reader along a path of self-discovery leading them to higher and sustained trading results. Global Network Publishers inc.
Trading in the Zone introduces a whole new mental dimension to getting an edge on the market. Use it to leverage the power of the "zone" for unprecedented profit. --New York Institute of Finance/Penguin Publishers
Learning how to think in probabilities is key ~ Douglas is excellent at discerning how to achieve that mindset through examples from his own trading, and examples from his days as one of the first trading coaches. --IGN Network Blog
If you are like most people, after your first few losing trades you set about to learn better market analysis. After your next string of losers you learned about risk management. But there's still one more challenge to conquer; yourself.
That is the major premise of this book. If it sounds like wishy-washy psycho-babble to you, I'll only say that I would have agreed -- four months ago, before I quit my 20-year technology career, obtained a Series/7 license and joined a professional day-trading firm. I now believe most people would lose money if you gave them 50/50 odds on whether or not it was going to rain tomorrow.
In other words, successfully forecasting the market is not enough. Why not? Well, this book explains why not. It has to do with one's sense of self-worth, one's moral judgment of money, one's work-ethic, one's tendency to focus on good news while ignoring bad, and other things.
"Zone" was recommended to a friend of mine by a professional floor trader who told him, "I wish I had read it before starting two years ago. Don't place another trade until you do." Well said. Does this apply to investors as well as traders? Oh, absolutely! If you have ever said to yourself, "I'm not selling that stock while it's down, I'll wait until I have a profit in it," then for the love of money, read this book.
Finally, read "Zone" before Douglas' earlier work. If you still want more then read "Disciplined Trader" for a general review plus a deeper exploration into the author's philosophical and meta-physical theories.
~ Peter Nelson
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