• Trading in the Zone

  • Master the Market with Confidence, Discipline and a Winning Attitude
  • By: Mark Douglas
  • Narrated by: Walter Dixon
  • Length: 8 hrs and 7 mins
  • Unabridged Audiobook
  • Release date: 05-12-11
  • Language: English
  • Publisher: Gildan Media, LLC
  • 4.5 out of 5 stars 4.6 (1,658 ratings)

Regular price: $23.09

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Publisher's Summary

Maximizing the trader's state of mind is the key to successful results.
Conflicts, contradictions, and paradoxes in thinking can spell disaster for even a highly motivated, astute and well-grounded trader. Mark Douglas, an industry consultant since 1982, sends the message that a "thinking strategy" will profoundly influence a trader's success rate. Douglas addresses five very specific issues to give traders the insight and understanding about themselves that will make them consistent winners in the market.
Trading in the Zone™ offers specific solutions to the "people factor" of commodity price movement. It uncovers the true culprit for lack of consistency when it comes to stock picking: lack of focus and self-confidence. Through simple exercises, traders will learn how to think in terms of probabilities and adopt the specific beliefs necessary to developing a winner's mindset. Along the way, they'll gain valuable insights into their own entrenched misconceptions about the market.
Backed by compelling examples, Trading in the Zone™ adds a new dimension to getting an edge on the market. Through a better understanding of themselves, as well as of Wall Street's realities, traders will come to leverage the power of their psyche for unprecedented profitability.
©2000 Mark Douglas (P)2011 Gildan Media Corp
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Critic Reviews

"[G]iven trading's risks, this book could assist experienced investors willing to engage in self-reflection." ( Publisher's Weekly)
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Customer Reviews

Most Helpful
5 out of 5 stars
By Bradley S. Lewitzke on 04-19-12

Your Edge and Consitency - The determining factors

Would you recommend this audiobook to a friend? If so, why?

As a former Futures trader, I would recommend this to anyone thinking about entering trading, currently trading, or seeking to get back into trading. It will help to set your psychological foundation.

What was one of the most memorable moments of Trading in the Zone?

You don't need to know what's going to happen to make money in the market.

Was there a moment in the book that particularly moved you?

The author has an interesting theory that he calls, "The five fundamental truths".

Any additional comments?

probabilities - consistency - an "Edge"...just read/listen to the book. I have, twice.

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6 of 6 people found this review helpful

5 out of 5 stars
By Libz on 08-23-11

Fantastic book for Forex newcomers

How true it is that Forex is 80% psychological and 20% fundamental. There have been times when I could kick myself for nurturing my losses thinking that the market will retrace. There needs to be no emotion when trading. This book helps me to recognize this very important factor. Great book that I will listen to over and over. It is very hard to trade without emotion when cold hard cash is on the line. Mark covers this topic well and goes through the normal barriers which people face.

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11 of 12 people found this review helpful

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Customer Reviews

Most Helpful
5 out of 5 stars
By Mark on 09-06-11

Left me feeling inspried

Several of my friends raved about this and I was pleased it was available in audio form so I went in, still I admit feeling sceptical. After all I've been trading 15 years, so I am already great right? Oh how wrong I was. Every example of a mistake I have repeatedly made was laid out clearly here with reasons why human psychology makes us repeat the same mistakes over and over again.

They say that 5% of poker players make money, the rest tick along or lose and yet millions still play. Same goes for trading, we are all there looking for the big winner. The book explains how trading is little to do with fundamentals and more to do with unhooking our deeply rooted beliefs instilled as we grow up. A child is told dozens of times a day what NOT to do, then they hit 18 become a trader, get a few lucky trades and there is nothing to stop them.

Mark Douglas doesn't offer you the get rich system you should use, it is assumed that anyone reading the book trades already using some technical analysis such as fibonacci retracements, MACD, RSI etc. But he does make you instantly realise that the market is not an enemy which always goes against you, it is there to be treated as a game of probability which you can play using your edge to in the long term to be a consitent winner, dare I say even a trader, rather then the gambler this book made me realise perhaps I am currently better categorised as.

The psychology insights were very interesting throughout. It could easily be viewed as a dull book, yet it kept me gripped throughout. A real revelation. I am really looking forward to trading with less stress, no emotion and paranoia free and buying that first yacht (ok dinghy)

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17 of 18 people found this review helpful

4 out of 5 stars
By Russ B on 12-28-11

A Great Listen

Works really well as an audiobook and obviously written by someone with extensive experience of trading. The book concentrates on the psychological aspects of trading and demonstrates that our greatest opponent is not the market but our own brain. The information contained in this audiobook, if followed, has the potential to save the novice trader many times its purchase price.

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6 of 6 people found this review helpful

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Customer Reviews

Most Helpful
5 out of 5 stars
By sasha on 08-11-17

Great but long winded

What did you like most about Trading in the Zone?

Some very powerful insights into developing effective trading psychology

Any additional comments?

Douglas makes valuable insights but goes into a little bit too much detail on the psychology. He could have said it all in a tenth of the words or even less- its really just comes down to thinking in probabilities which only works if you don't project your emotions onto reading a chart and accept that each event is unique. Doing this means you are able to see the endless flow of opportunity in the market and act on it. That's the book. Douglas' method for achieving this is an in depth look at our beliefs etc. A much simpler tool is using a trading checklist like a pilot's checklist- this is Michael Mouboussin's.(Credit Suisse) recommendation and it really forces you to follow that trading plan. Make a check list and save yourself all the navel-gazing. Focus on being right by following a process not achieving an outcome and let probability - your edge - work for you.

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1 of 1 people found this review helpful

5 out of 5 stars
By Michael on 02-05-17

best book

here is a very practical book giving exsamples to teach you the right mind set. anyone can make money on the markets, but trading in the zone will help you be consistent.

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