Trading in the zone PDF- Mark douglas presents a serious psychological approach to becoming a consistent winner in your trading. I do not offer a trading system; I am more interested in showing you how to think in the way necessary to become a profitable trader. I assume that you already have your own system, your own edge. You must learn to trust your edge. The edge means there is a higher probability of one outcome than another. The greater your confidence, the easier it will be to execute your trades.
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- Trading and investment. Mark Douglas’ new book Trading in the Zone is one of them. Mark broke new ground for traders in his first book The Disciplined.
This book is designed to give you the insight and understanding you need about yourself and the nature of trading, so that actually doing it becomes as easy, simple, and stressfree as when you’re just watching the market and thinking about doing it.
Category: Forex, Stock
Author: Mark Douglas
Download Livro Trading In The Zone Mark Douglas
Language: English
Download link: At the end of the post
Preface
The goal of any trader is to turn profits on a regular basis, yet so few people ever really make consistent money as traders. What accounts for the small percentage of traders who are consistently successful?
To me, the determining factor is psychological—the consistent winners think differently from everyone else.I started trading in 1978. At the time, I was managing a commercial casualty insurance agency in the suburbs of Detroit, Michigan. I had a very successful career and thought I could easily transfer that success into trading. Unfortunately, I found that was not the case.
By 1981, I was thoroughly disgusted with my inability to trade effectively while holding another job, so I moved to Chicago and got a job as a broker with Merrill Lynch at the Chicago Board of Trade. How did I do? Well, within nine months of moving to Chicago, I had lost nearly everything I owned. My losses were the result of both my trading activities and my exorbitant life style, which demanded that I make a lot of money as a trader. From these early experiences as a trader, I learned an enormous amount about myself, and about the role of psychology in trading. As a result, in 1982, I started working on my first book, The Disciplined Trader: Developing Winning Attitudes.
When I began this project I had no concept of how difficult it was to write a book or explain something that I understood for myself in a manner and form that would be useful to other people. I thought it was going to take me between six and nine months to get the job done. It took seven and a half years and was finally published by Prentice Hall in 1990. In 1983, I left Merrill Lynch to start a consulting firm, Trading Behavior Dynamics, where I presently develop and conduct seminars on trading psychology and act in the capacity of what is commonly referred to as a trading coach. I’ve done countless presentations for trading companies, clearing firms, brokerage houses, banks, and investment conferences all over the world.
I’ve worked at a personal level, one on one, with virtually every type of trader in the business, including some of the biggest floor traders, hedgers, option specialists, and CTAs, as well as neophytes As of this writing, I have spent the last seventeen years dissecting the psychological dynamics behind trading so that I could develop effective methods for teaching the proper principles of success. What I’ve discovered is that, at the most fundamental level, there is a problem with the way we think.
There is something inherent in the way our minds work that doesn’t fit very well with the characteristics shown by the markets. Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. They no longer fear the erratic behavior of the market. They learn to focus on the information that helps them spot opportunities to make a profit, rather than focusing on the information that reinforces their fears.
While this may sound complicated, it all boils down to learning to believe that: (1) you don’t need to know what’s going to happen next to make money; (2) anything can happen; and (3) every moment is unique, meaning every edge and outcome is truly a unique experience. The trade either works or it doesn’t. In any case, you wait for the next edge to appear and go through the process again and again.
With this approach you will learn in a methodical, non-random fashion what works and what doesn’t. And, just as important, you will build a sense of self-trust so that you won’t damage yourself in an environment that has the unlimited qualities the markets have.
Most traders don’t believe that their trading problems are the result of the way they think about trading or, more specifically, how they are thinking while they are trading. In my first book, The Disciplined Trader, I identified the problems confronting the trader from a mental perspective and then built a
philosophical framework for understanding the nature of these problems and why they exist.
I had five major objectives in mind in writing Trading in the Zone:
Download Livro Trading In The Zone Mark Douglas Book
To prove to the trader that more or better market analysis is not the solution to his trading difficulties or lack of consistent results.
To convince the trader that it’s his attitude and “state of mind” that determine his results.
To provide the trader with the specific beliefs and attitudes that are necessary to build a winner’s mindset, which means learning how to think in probabilities.
To address the many conflicts, contradictions, and paradoxes in thinking that cause the typical trader to assume that he already does think in probabilities, when he really doesn’t.
To take the trader through a process that integrates this thinking strategy into his mental system at a functional level.
Contents- Trading in the zone PDF- Mark douglas
FOREWORD
PREFACE
ATTITUDE SURVEY
_________________CHAPTER 1___________
THE ROAD TO SUCCESS:
FUNDAMENTAL, TECHNICAL,
OR MENTAL ANALYSIS?
IN THE BEGINNING: FUNDAMENTAL ANALYSIS
THE SHIFT TO TECHNICAL ANALYSIS
THE SHIFT TO MENTAL ANALYSIS
_____________________CHAPTER 2_______________
THE LURE (AND THE DANGERS) OF TRADING
THE ATTRACTION
THE DANGERS
THE SAFEGUARDS
Problem: The Unwillingness to Create Rules
Problem: Failure to Take Responsibility
Problem: Addiction to Random Rewards
Problem: External versus Internal Control
_______________CHAPTER 3______________
TAKING RESPONSIBILITY
SHAPING YOUR MENTAL ENVIRONMENT
REACTING TO LOSS
WINNERS, LOSERS, BOOMERS, AND BUSTERS
___________CHAPTER 4_______________
CONSISTENCY: A STATE OF MIND
THINKING ABOUT TRADING
REALLY UNDERSTANDING RISK
ALIGNING YOUR MENTAL ENVIRONMENT
___________CHAPTER 5________________
THE DYNAMICS OF PERCEPTION
DEBUGGING YOUR MENTAL SOFTWARE
PERCEPTION AND LEARNING
PERCEPTION AND RISK
THE POWER OF ASSOCIATION
Trading In The Zone - Mark Douglas
___________CHAPTER 6_____________
THE MARKET’S PERSPECTIVE
THE “UNCERTAINTY” PRINCIPLE
THE MARKET’S MOST FUNDAMENTAL CHARACTERISTIC
_____________CHAPTER 7__________
THE TRADER’S EDGE: THINKING IN PROBABILITIES
PROBABILITIES PARADOX: RANDOM OUTCOME, CONSISTENT RESULTS
TRADING IN THE MOMENT
MANAGING EXPECTATIONS
ELIMINATING THE EMOTIONAL RISK
_______ CHAPTER 8__________
WORKING WITH YOUR BELIEFS
DEFINING THE PROBLEM
DEFINING THE TERMS
HOW THE FUNDAMENTAL TRUTHS RELATE TO THE SKILLS
MOVING TOWARD “THE ZONE”
___________CHAPTER 9_________________
THE NATURE OF BELIEFS
THE ORIGINS OF A BELIEF
BELIEFS AND THEIR IMPACT ON OUR LIVES
BELIEFS vs. THE TRUTH
________CHAPTER 10__________
THE IMPACT OF BELIEFS ON TRADING
THE PRIMARY CHARACTERISTICS OF A BELIEF
SELF-EVALUATION AND TRADING
Download Livro Trading In The Zone Mark Douglas Free Download
__________CHAPTER 11___________
THINKING LIKE A TRADER
THE MECHANICAL STAGE
THE ROLE OF SELF-DISCIPLINE
CREATING A BELIEF IN CONSISTENCY
EXERCISE: LEARNING TO TRADE AND EDGE LIKE A CASINO
A FINAL NOTE
ATTITUDE SURVEY
INDEX
About author
Mark Douglas is the author of The Disciplined Trader: Developing Winning Attitudes, published in 1990 and considered an industry classic and one of the first books to introduce the investment industry to the concept of trading psychology.
Mark began coaching traders in 1982, and has continued to develop seminar and training programs on trading psychology for the investment industry, as well as individual traders. He has been a frequent speaker at seminars across the world as well as in the United States, teaching traders how to become consistently successful. He can be reached through his website markdouglas.com.
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