You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Trading in the Zone
- Thread starter JPope
- Start date
His first book, The Disciplined Trader was far better.
Quote from JPope:
Anyone read this book by Mark Douglas? I've read a few good reviews and am interested in the studies of trading psychology. Also, stingy as hell so I'd like a recommendation before spending $40 on the cheapest copy I can find...
It's pretty good, but I think overrated a bit. I would recommend Brett Steenbarger's books first. I don't have his first, but Enhancing Trader Performance..........is good. His 3rd looks very good just came out. Best part he has a great free website with helpful info for trading and psych that work. http://www.traderfeed.blogspot.com/
You might find Douglas at your local library or Steenbarger for that matter.
You might find Douglas at your local library or Steenbarger for that matter.
Quote from JPope:
yea ive seen that one as well, ill check it out...part of my skepticism I think is that I'm always weary of a guy that seems to have made way more money speaking and promoting books on trading than trading itself...Anyone have anything on his background?
Understand, and I am a healthly skeptic too. That said he is paid by prop firms to help traders so that should say something. Ari Kiev is supposed to have some good stuff, likewise Steve Cohen/SAC has him on staff, or did, last I read and heard.
Mark Douglas is good. As is Ruth Barrons Roosevelt. Psychology books are a steal compared to other costs.
I would spare no expense in these books and courses.
People tend to overlook the psychological preparation to be a trader, the truth is without the right mentality you are doomed to failure.
Mechanical systematic auto-traders are also subject to psychological traps, like overfitting, turning systems on an off arbitrarily, but I haven't seen any psychology book for this kind of trader.
I have met systematic fund managers who think they are unbiased, mathematical, fully computerized, objective, but are as emotional and psychologically flawed as any newbie trading from the gut.
It's because they don't pay attention to this stuff, they think it's all worthless, but you are on the right path getting interested in Mr. Douglas' books.
I would spare no expense in these books and courses.
People tend to overlook the psychological preparation to be a trader, the truth is without the right mentality you are doomed to failure.
Mechanical systematic auto-traders are also subject to psychological traps, like overfitting, turning systems on an off arbitrarily, but I haven't seen any psychology book for this kind of trader.
I have met systematic fund managers who think they are unbiased, mathematical, fully computerized, objective, but are as emotional and psychologically flawed as any newbie trading from the gut.
It's because they don't pay attention to this stuff, they think it's all worthless, but you are on the right path getting interested in Mr. Douglas' books.
Quote from JPope:
Anyone read this book by Mark Douglas? I've read a few good reviews and am interested in the studies of trading psychology. Also, stingy as hell so I'd like a recommendation before spending $40 on the cheapest copy I can find...
Basic but essential psychological stuff applied to trading. The book is worth the $40.