business and investing

Every trader knows that mastering your emotions is key to success in the market, and every would be trader has heard or read this. "Trading in the Zone" is sort of an "inner game" book for trading stocks and commodities, but far superior to other such books that I've seen. Mark Douglas gets into detail about how our beliefs, attitudes, etc, originate from our experiences, control our perceptions of the world and shape our actions in ways that may be contrary to our best interests, and then tells how to overcome these negative influences to produce positive results in the market. But, unlike most books of this sort, it isn't just "tell yourself that you're good". He lays out a specific plan for developing your "game" of trading, so that you learn how to develop a proper emotional state along with your technique. He stresses low risk trades, so that you have time to learn without being wiped out in the process. And he stresses paying yourself as the market makes profits available, so that you can enjoy positive results and their psychological benefit even if the overall trade result is negative. I think this book is also useful for life in general. I gave the book 4 stars instead of 5 because I felt that he used too much repetition, no doubt in an effort to drive home his point.

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

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.