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66 of 66 people found the following review helpful
5.0 out of 5 stars 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...
Published on 11 Sep 2005 by M. Dowd

versus
11 of 11 people found the following review helpful
3.0 out of 5 stars Recommended, but boring & repetitive
I've just finished reading Trading in the Zone. It's the first trading psych book I've read and I've got to say, despite all the good reviews, I found it dry, boring and repetitive which made it a really difficult book to finish. In several places I had to look back a few pages to check I hadn't accidentally re-read the last few pages, such is the repetition. The author...
Published on 8 Aug 2011 by Dave


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66 of 66 people found the following review helpful
5.0 out of 5 stars Mindtastic, 11 Sep 2005
By 
M. Dowd "mcduk" (UK) - See all my reviews
(REAL NAME)   
This review is from: Trading in the Zone (Hardcover)
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!
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41 of 41 people found the following review helpful
5.0 out of 5 stars One of THE fundamental trading books, 17 July 2003
By A Customer
This review is from: Trading in the Zone (Hardcover)
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.
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35 of 35 people found the following review helpful
4.0 out of 5 stars Not a Strategy But Very Useful, 30 Sep 2003
By A Customer
This review is from: Trading in the Zone (Hardcover)
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.
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23 of 23 people found the following review helpful
5.0 out of 5 stars THE holy grail, 8 Feb 2010
This review is from: Trading in the Zone (Hardcover)
I have been trading forex for 6 years first with an investment bank through their graduate scheme and more recently through my own fund. Despite all the training and sitting next to the world's best traders etc etc nothing came close to what Mark Douglas provides in this book. The book confirms everything I knew to be true on a subconscious level - namely trading has very little to do with fundamentals and all the rubbish we hear on news wires (I subscribe to the Sun much more useful that the FT for my trading), and more to do with our social upbringing and our ability to change the deep rooted beliefs we were plastered with as we grew up - namely that losing is bad and makes us failures (trading has made me realise the opposite couldn't be more true). Even technicals (I use a discretionary system of pivot points and moving averages NO NEWS lol) to some extent are only there to help you manage the information flow on the chart and manage risk, once you have your method of trading that you know in probability works, then the rest is down to YOU and your ability to implement your system. The only person that can make or lose you money from that point on is yourself. If you find yourself blaming the market or your broker for a loss or hesitant on a trade because you made a loss on the last trade - save yourself a lot of hassle and go and work in a different field until you can accept responsibility for hitting buy and sell and start seeing each trade as mutually exclusive.

Yes I agree this book is NOT for the novice trader - simply because a)he has yet to realise that he will only truly be successful when he sees that no one can predict the next move in the market only the next PROBABLE move, b) he has yet to fully experience greed and fear and the devastating consequences it will have on his bottom line, c) he has yet to stop treating each trade as if it is a matter of life or death and finally he has no rule based structure to approach the market with.

If you have a good system (I use a discretionary system of pivot points and moving averages) and are having trouble trusting yourself to implement it then this is THE book for you. Do not expect to find the answer to when to buy and sell; that is not the point of this book the information here is much more profound that that - it goes beyond the system. Mark makes you realise that each trade you take is IRRELEVANT in the grand scheme of things akin to a casino where the owners really do not care about each individual game their customers play - it is the summation of all the games that makes them money similar to your trading. Just trade the plan, the plan is good, probability will pay you back.

I will leave you with one final thought - I personally know some of the smartest guys on the planet when it comes to market analysis but they make less money than some of the dimmest guys I know - why? Simple the dimmer guys STICK TO THE PLAN. Despite being fairly successful till now this book has helped me a lot highly recommended!

Good Luck, you may find reading the Disciplined Trader first useful.
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19 of 19 people found the following review helpful
5.0 out of 5 stars The only trading book you'll ever need, 2 Feb 2005
This review is from: Trading in the Zone (Hardcover)
Having read many of "psychology of trading" genre of books, without doubt trading in the zone is by far the best. The writer has obviosuly traded and can identify with some of the most common trading errors and how to rectify them. His approach enables you to reduce the stress of trading. The trading athlete is good, but this is brilliant!
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11 of 11 people found the following review helpful
3.0 out of 5 stars Recommended, but boring & repetitive, 8 Aug 2011
By 
Dave (Poole, UK) - See all my reviews
This review is from: Trading in the Zone (Hardcover)
I've just finished reading Trading in the Zone. It's the first trading psych book I've read and I've got to say, despite all the good reviews, I found it dry, boring and repetitive which made it a really difficult book to finish. In several places I had to look back a few pages to check I hadn't accidentally re-read the last few pages, such is the repetition. The author also spends almost the entire book explaining what is "wrong", but doesn't offer any practical advice until the final chapter. This makes it feel quite preachy/condescending.

So would I recommend this book? Surprisingly, yes.

To those reading it for the first time, I would skip straight to chapter 8 and 11; you can always read through the other chapters if you feel the need. In ch8 he gives a decent summary of the previous chapters and is really all that should have been devoted to those topics in the first place. Chapter 11 is effectively the meat of the book, and is the only place in which a practical solution is offered.

One of the most interesting thoughts comes from Ch11: the description of his method for closing winning trades and explanation of why he does it. It's quite a standard method, but I've never heard it put in that way, and I have to say it's been rather persuasive. It has to do with the fact that most failed trades will at least go some way in your favour before they turn around... I'll leave you to work it out or buy the book to find out.

One other thing, if you don't already have a trading system that gives you an "edge", you'll need one first. Google babypips or piptastic for ideas.
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11 of 11 people found the following review helpful
5.0 out of 5 stars Addressing the trading challenges inside yourself, 28 Nov 2007
This review is from: Trading in the Zone (Hardcover)
I bought this book on a recommendation from a colleague and am really glad I did. It really kept my interest right up to the last page because it is concisely written and doesn't get too bogged down in digressions that allow one's attention to wander.

'Trading in the Zone' is an excellent book for those involved in trading. It's very focused on the psychological issues of trading, and should be useful both for those experienced in trading, as well as for those interested in taking up trading and who want to know which personality traits it actually takes to be an excellent trader. The simple idea that many books promote - that just about everybody can take up trading with minimum training or practice - is actually true, but what they tend to leave out is the fact that there's a big difference between a trader who just dabbles at things and one who really makes it work! Reading this book at the beginning of a trading career will be very useful as it will make you aware of where the risks are. Not only the risks the market creates, but those that are part of your own character! If one is going to face *unexpected* problems as a trader, the last place they should come from is oneself ...

Without taking anything away from the value of the book as a whole, I found the concept of 'making yourself available' to the market, introduced in Chapter 6, and the concept of 'trading in the moment', from Chapter 7, particularly helpful. The author also manages to not only explain those concepts but gives you a real idea how to use them in practice. This is a real strength, since may How-to' books seem to have difficulty going from the abstract to the practical.

This book is repetitive at times, but in a way that's a good thing because it makes some of the issues sink in really well. It's also a good book to come back to when things aren't going so well, because it reinforces the idea that a lot of the that 'problems' traders are facing are psychological.

I've recommended this book to several people already, and have no hesitation in recommending it here. If you are thinking of taking up trading then you'll certainly want to read several books on the subject, but I think this should definitely be one of them!
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15 of 16 people found the following review helpful
5.0 out of 5 stars trading in the zone, 3 Mar 2005
By A Customer
This review is from: Trading in the Zone (Hardcover)
Trading can be the most enjoyable of careers,whilst simultaneously being the most painful & frustrating. You know the highs and lows.
Having read this book, my trading has altered and benefitted. You will see trading in a different light, thus becoming a great deal more objective and hopefully more consistent.
Manytimes i've become angry, paranoid and disillusioned, am i cured? More self mastery/discipline is needed. But this book is a definite step in the right direction.
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13 of 14 people found the following review helpful
4.0 out of 5 stars Tough going but worth it, 16 Nov 2004
By 
Paul D (Belfast, Northern Ireland) - See all my reviews
This review is from: Trading in the Zone (Hardcover)
I came at a point in my trading were I felt I needed to take a look at my 'mind set and thinking' behind my trading. After hearing a lot about this book from various people, I decided to buy it.
I must say, I did find it hard reading and it did take me some time to get through it, but I persisted, as I felt that the information, or rather how the book was making me think, was important. After finally getting to the end of the book, I must say that in retrospect it was worth the effort and I do plan on re-reading is again in a while.
I am not sure what exactly it was that made it so difficult, maybe because at the same time as reading my mind was getting an 'overhaul'.
In the end, it was worth the money for me, and if you feel that your thinking may be hindering your trading, then this might just be the thought provocation you need to re-shape your trading psychology.
4 Stars because it the results were excellent, but the reading was hard.
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21 of 23 people found the following review helpful
5.0 out of 5 stars If you have traded persistently for a while this is for you!, 17 Feb 2002
By A Customer
Verified Purchase(What is this?)
This review is from: Trading in the Zone (Hardcover)
An excellent book which gets to the heart of what makes you a success or a failure at the toughest game in town - what goes on between your ears. I have traded with sporadic success for a few years and am now breaking out into consistent success. This book helped me to get to the bottom of my problem - the way I think about trading. I recommend it to any serious trader in it for the long haul...
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Trading in the Zone
Trading in the Zone by Mark Douglas (Hardcover - 1 July 2000)
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