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11 of 12 people found the following review helpful
5.0 out of 5 stars Welcome to the Fourth Dimension in trading.....
The process of becoming a successful traders is not just about learning about markets and developing a trading system that works, there is so much more to it than that. Most people get wrapped up in practical nuts and bolts of trading or investing but miss the most important step. Developing the proper mental and psychological skills.
To become consistent, it is...
Published on Jan. 8 2004 by P. Matt Blackman

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2 of 4 people found the following review helpful
2.0 out of 5 stars Starts Strong Then Quickly Fades, Not Good Overall Value
Douglas' book would be much better if it were about 75 pages in length, waaay too much unnecessary filler. This is one-half of a good book, if Douglas had included some trading history or trading strategies for the other half of the book, things would be great. Too bad this book in current form needlessly strings out examples of psychology most people were exposed to in...
Published on July 18 2001


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11 of 12 people found the following review helpful
5.0 out of 5 stars Welcome to the Fourth Dimension in trading....., Jan. 8 2004
By 
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
The process of becoming a successful traders is not just about learning about markets and developing a trading system that works, there is so much more to it than that. Most people get wrapped up in practical nuts and bolts of trading or investing but miss the most important step. Developing the proper mental and psychological skills.
To become consistent, it is essential that one spend some time getting to know what the market really is as opposed to what the trader would like it to be. The market is not your enemy, does not owe you anything and does not care whether you win or lose. It just is. The sooner one accepts that, the faster he/she progresses. This means performing a careful self-assessment, identifying beliefs that will short circuit consistency and getting them out of the way. As Douglas describes it, 95% of the trading errors all traders make are due to his or her attitudes (fears) about four things. 1) being wrong, 2) losing money, 3) missing out and 4 ) leaving money on the table. Getting over them may seem daunting in the beginning but that is where the book comes in.
Douglas also describes the process that all successful traders must go through and that is developing a probabilistic mindset. All great traders have learned to think in probabilities. This means that every market decision is only made once a risk/reward ratio has been determined, stop losses and profit goals established and pre-determined conditions for taking the trade known. By removing the extraneous "noise" that causes undue emotional and psychological stress, decisions become easier to make.
As is true of most things in life, sounds easier to do than it is but the good news is that with a little practice and with help of an exercise outlined in the book, it is very doable.
Zone is a book that you will want to read multiple times. As Douglas says, it is a book that took him five years of his life to write. It was obviously a labor of love. This comes through loud and clear when reading it. The book is also one that should be in the library of anyone in the markets today, no matter whether your approach is straight technical analysis, strictly fundamental or (if you are like me) somewhere in between. My book is covered in post-it notes, underlines and yellow highlighter. It is also one of the three best books on trading to date that I have reviewed.
Matt Blackman - Technical trading writer/reviewer and regular contributor to Technical Analysis of Stocks & Commodities Mag, Traders Mag (Europe), Working Money, Traders.com Advantage and SFO Magazine, Investopedia.com and the thechartmaster.com
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10 of 11 people found the following review helpful
5.0 out of 5 stars Emotions Kill In Trading, July 6 2004
By 
DV (United States) - See all my reviews
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
I thought this was a well written book by Douglas. He constantly hammers the point of getting your emotions in check before trading. He says this in every single chapter in one form or another. Learn through repetition.
Wished I had read this book first many, many years ago before I lost bucoo $$$$, but now I've learned the hard way. The book is also easy to read and hits home on many things regarding one's emotions. They do NOT belong in trading (unless you want to lose money).
Found that greed and fear were my 2 biggest enemies. I don't have specific examples to give you of what he talks about since I read the book awhile back, but this book is definitely worth reading again and again, just to remind yourself the market plays no favorites and doesn't care who you are.
Learning to get your emotions under control as a stock trader or investor is of greatest importance, if you want to make money.
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16 of 18 people found the following review helpful
5.0 out of 5 stars This Book Humbled Me, Aug. 20 2002
By 
Michael Levin "toptrader99" (Boca Raton, Florida) - See all my reviews
(REAL NAME)   
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
I have to say something VERY strong about this book. It made me STOP trading. I realized about a quarter of the way through this book that I was NOT on my game and that I was open fodder for the real Pro's that have the skills and abilities that he speaks of. I am a professional trader and I even help run a very successful trading firm, but I've been trading by feel and emotion for too long now and have lost about 200,000 the past 3 years in the market and I just couldn't take it anymore.
By reading this book, by stopping trading and re grouping, I know my trading will be much better and that every trader that trades my money or my firms money, will be required to not only read this book, but to recant the most important parts.
Dont just buy this book, learn it and trade by its valuable tenets.
Mike Levin
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3 of 3 people found the following review helpful
5.0 out of 5 stars Once Again Douglas Produces Valuable Trading Information, Oct. 1 2010
By 
Patrick Sullivan (Kingston, Ont. Canada) - See all my reviews
(TOP 500 REVIEWER)    (REAL NAME)   
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
This is Douglas`s second trading book. Both are in regards to trading psychology. I consider both of these books to be part of set. He outlines important aspects of the mental game of trading. The importance of thinking in probabilities, knowing your own emotions, developing a care free attitude, maintaining an objective attitude, and living in the now moment, are just a few examples.
Trading is said to be 80% attitude and 20% ability. Well Douglas attempts to outline ideas, that will improve your attitude.
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2 of 2 people found the following review helpful
5.0 out of 5 stars Half of the Equation, April 26 2013
By 
Danny Merkel (Vancouver, Canada) - See all my reviews
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
When it comes to trading psychology, Mark Douglas' books are an essential resource. On the surface, this book initially appears repetitive and dry, but I can say now, seven years after reading it, the core message is profound. Douglas covers some key topics such as: process versus outcome, thinking like a casino, having an edge, and the impact of fear and other emotions on trading.

I ended up highlighting areas of this book, which I though were profoundly deep. For example:

-"In fact, the degree by which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader."

-"When you genuinely accept the risks, you will be at peace with any outcome. When you're at peace with any outcome, you will experience a carefree, objective state of mind, where you make yourself available to perceive and act upon what the market is offering you at any given "now moment"."

Now, in my opinion, a suggestion: It is not necessary to read both of Douglas' books. They are the same book re-packaged, so reading both is like reading one twice.

Lastly, this book, while essential, is not enough. You need to have an edge in order to trade successfully in the long term and this book does not actually teach you how to trade. For books that give you a concrete way to gain an edge in the market, please check out my other reviews.

--->Danny Merkel
--->Charting Trends Blog
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1 of 1 people found the following review helpful
5.0 out of 5 stars A MUST READ - SUPERB!, April 23 2001
By 
Bennett McDowell "TradersCoach.com" (San Diego, CA United States) - See all my reviews
(REAL NAME)   
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
Mark Douglas wrote a book that EVERY trader needs to read! ... I work with many traders who would benifit greatly by reading this book. He is "right-on" with how important emotions, fear, greed, etc are and how they affect our trading. The Market does not care if we exist as traders, our feelings as we trade are created by us, and us alone!
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4 of 5 people found the following review helpful
5.0 out of 5 stars Focus on trading in the "Now" moment, March 6 2004
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
Good traders dispassionately address opportunity as it presents itself. How do you arrive at this "destination state"? The author tells us that learning more about the market is a wasted effort if you first do not know about yourself. If you assume that each trade is independent of the other trades you have taken and view them as a probable outcome based on your "edge" then you are miles ahead of other traders.
You will need to find another book to generate trading ideas (your edge). This tome does a great job of discussing the "trading attitude". Douglas uses some odd imagery to describe how dearly a belief is held. He says that it has "energy" and then describes how physics states that energy cannot be destroyed. He lost me on that analogy, but the point he made is that we have unproductive beliefs that have to be neutralized by adopting productive beliefs and emphasizing them over those unproductive beliefs.
There are seven principles of consistency and five fundamental truths in trading presented here that are helpful to any trader review on an ongoing basis. If you are already successful then you may note that you have these beliefs already internalized. If you are new to trading these are invaluable because it can help you avoid the pitfalls that await you.
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4 of 5 people found the following review helpful
5.0 out of 5 stars Trading in the Zone, Feb. 13 2003
By 
Martin Gregory (Laguna Beach, Ca USA) - See all my reviews
(REAL NAME)   
Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
I highly recommend this book to experienced traders. Traders who have already realized that trading is essentially a psychological endeavor but have not yet mastered their inner demons. I can honestly say that this book can help in this vital area. Mr.Douglas is obviously very experienced and as I read the book I found my counter-productive mental states described perfectly. (I'm sure most traders will see themselves as well). Surprisingly, by following the advice in the book it wasn't that hard to change them. Trading for me now is a whole new experience. Very much easier. If read with an open mind I would say that this book can help anyone improve their bottom line.
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4 of 5 people found the following review helpful
5.0 out of 5 stars This book has changed me forever, Jan. 14 2011
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Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
If anyone at all is into trading they should read this book. I wish brokerages made reading it a pre-requisite to opening an account. I can't believe how effective it has been, and I'm only on chapter 5 so far. It's like the author knows how the inside of my mind works and in just reading only this much of the book he has resolved problems for me that I didn't even know I had, but were enormous and career-wrecking. I've already been making better and more profitable decisions and am a much happier, calmer, and more profitable trader because of it. I'd give it ten stars out of five if I could.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Not just for traders, Feb. 7 2013
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Ce commentaire est de: Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude (Hardcover)
I think anyone could benefit from reading this to better understand the our minds work. Many valuable psychology lessons in here.
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