Trading in the Zone

Master the market with confidence, discipline and a winning attitude
By Mark Douglas author of The Disciplined Trader
Book review by Aaron Hazell


From birth we acquire tools that allow us to handle everyday life, some are taught to us, and some are natural processes of the mind. In the book Trading in the Zone, Mark Douglas guides us to see some of these processes in our minds eye and dissects how the very skills we learned to survive actually work against us when we try to succeed in the markets.

 

Trading in the Zone starts us on the path of discovery highlighting problem psychologies such as our inherent Addiction to Random Rewards, or the Unwillingness to Create Rules as well as a few others. Our ability to subconsciously sabotage our conscious efforts is truly amazing and through the chapters of his book Mark Douglas will guide us in solving our inner saboteur. Trading in the Zone will show us that all we need to win is, to take responsibility for our actions and thoughts by re-writing our mental software. In turn we change our state of mind, perception, and market perspective allowing us to eliminate our emotions and use our edges to come out on top with confidence and mastery of pure probabilities.


In chapter 6 talking about the 'uncertainty principle' Mark Douglas writes : "If there is such a thing as a secret to the nature of trading, this is it: At the very core of one's ability 1) to trade without fear or overconfidence, 2) perceive what the market is offering from its perspective, 3) stay completely focused in the "now moment opportunity flow, " and 4) spontaneously enter the "zone," it is a strong virtually unshakeable belief in an uncertain outcome with an edge in your favor.

The best traders have evolved to the point where they believe, without a shred of a doubt or internal conflict, that "anything can happen." They don't just suspect that anything can happen or give lip service to the idea. Their belief in uncertainty is so powerful that it actually prevents their minds from associating the "now moment" situation and circumstance with the outcomes of their most recent trades".

This book was on a number of 'recommended reading' lists that I have seen so I expected a lot from reading Trading in the Zone. Mark Douglas reinforced a number of things I've read elsewhere and brought many new concepts to light. I liked the book very much and would recommend it for anybody trading in any market at any skill level; Trading in the Zone has something for everyone. Read the book!


About the Author (From book sleeve)


Mark Douglas is the author of NYIF's The Disciplined Trader: Developing Winning Attitudes. He is an active trader and president of Trading Behavior dynamics, Inc., which develops seminars and training programs on trading psychology for brokerage firms, banks, and money managers, among a wide range of professional organizations. He has been a frequent speaker for Dow Jones Seminars in Europe and the Far East, as well as at various other investment conferences in the United States. He currently resides in Scottsdale, AZ and can be reached at markdouglas.com.