Buying "Trading in the zone" or "Disciplined trader" ?
Mark Douglas - Trading in the Zone
- Thread starter quin8670
- Start date
Quote from Joab:
Mark's book to me was really just a re wording of all the old axioms that have been around since the beginning of this business.
I was dis appointed that he did not give exercises to help the mind assimilate the beliefs.
At the end of the book he basically says Now go and make 20 trades perfectly
I thought this was rather silly and I really expected more meat from the book.
Someone needs to write a book filled with exercises that traders can practice after hours to help them during real time.
Now that would be a best seller.
I think actually reading the book cover to cover WAS the exercise. If you have the patience, perserverance, ability to do that, you can accomplish anything!
don't waste your money on the book. it's just blah blah blah blah blah.
Its a great book. Do you need it to be a successful trader? Maybe, maybe not. It all depends on where you are starting from. Some people like to make mistakes on their own, others like to read about and avoid the mistakes others make.
No book will hand you the holy grail. Thats different for everybody. When it comes to the markets, some just want to be right. Some want to be profitable and don't care about being right. Others just want to be ridiculously profitable. The grail is different for all of them.
There is plenty of good information in this book. Another one I highly recommend is Brett Steenbargers Enhancing Trader Performance
It has plenty of good information and Brett seems to like to compare everything to sports performance. But it relates well.
No book will hand you the holy grail. Thats different for everybody. When it comes to the markets, some just want to be right. Some want to be profitable and don't care about being right. Others just want to be ridiculously profitable. The grail is different for all of them.
There is plenty of good information in this book. Another one I highly recommend is Brett Steenbargers Enhancing Trader Performance
It has plenty of good information and Brett seems to like to compare everything to sports performance. But it relates well.
Do any of you know of a good book about risk acceptance? Although I'm a pretty good technical analyst, it seems that I'm more risk-averse than I'd like to be. I'm reading "Trading in the Zone", but I can't seem to find any exercises or direction on how to overcome my risk-aversion.
Trade Your Way to Financial Freedom
by Van K. Tharp
This book will teach you how to understand Expectancy, Manage Risk and utilize the Law of Large Numbers (among other things) to assist you in your trading.
All of these factors go hand-in-hand with understanding and dealing with the psychology of risk.
P.S. Oh, I see I have some company ... Cool.