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4.5 out of 5 stars74
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on January 15, 2016
I would Recommend this book especially for those who are just starting or already have experience but doesn't have a positive consistent portfolio . This book will help you conditioning your mind in trading . It offers a lot of insights about the common flaws that we don't even realize or think about that greatly affect us when it comes to trading from analyzing, planning, organizing and executing our trades . Doesn't matter even if this book is a little old or what markets you are on because it doesn't talk about systems in trading, It talks about our personal behavior, beliefs, how we think and many more . I've enjoyed the book, took some notes that I want to practice and really put in my subconscious to make it habit.
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on October 3, 2015
Takes the trading game and breaks it down into what it really is.A game of probabilities.
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on September 5, 2015
Amzingly awesome book, if you want to learn more about yourself and dig deep and eliminate your bad beliefs. Gives you another way of perceving your emotions. Changes your perception of fear .
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on July 17, 2015
Great ideas, but repetitive and he takes a long time to make a point.
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on September 10, 2014
i bought this book at the right time, after a year or so of trading. i don't think i would have enjoyed it as much at the beginning when i was learning the mechanic of trading. after a lot of trial and error, this book really helped me put it all together and define my style.
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on June 23, 2014
This book will always remain a classic traders reference for the simple reason that human emotions will continue to be what they are. There are a ton of reviews on this book everywhere and they are overwhelmingly review that praise the book. I am not a trader but someone who is interested in the financial markets. At the time I read this book, I was considering trading but I honestly have better things to do. Still, the insights from this book were and continue to be helpful. If you have any interest in the markets and in particular, in trading, then this is a book you should read (or listen too).
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on April 26, 2013
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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on February 7, 2013
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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on January 25, 2013
It is to the point and effective and a lot of common sense. I have been using it since the day i got it.

Aslan
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on November 17, 2012
i bought the audio book as i find this content hard to focus on when i read it, but i must say i loved this book very powerfull stuff. i noticed a change in my trading right away.
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