A few times I thought about buying this book, but after reading the negative reviews I said I wouldn't buy it. I actually read alot of the reviews and wavered back and forth. Well I'm happy to say I bought and now have read this book and could not put it down. I have to say this book puts the whole trading process in a nutshell. I've taken expensive courses that still didn't help my trading ability. This book has successfully told me why and I now know what needs to be done. I recommend this book whole heartedly to any one who has traded and lost much money as it will and does explain why and what one needs to do to to change the whole losing process.

I found the first half of this book rather disappointing in the same way as I found The Disciplined Trader: Developing Winning Attitudes disappointing. Too many babbling chapters that boil down to a simple point like "don't fight the market". Too much dodgy pseudo-science about negatively- and positively-charged energy, and too much reliance on non-trading analogies.

The book really redeemed itself in the later chapters with its points about thinking purely in terms of probabilities, expecting the unexpected (see also The Black Swan: The Impact of the Highly Improbable), and accepting that you are fallible (see Soros).

This book will not give you a concrete strategy for beating the markets, except possibly this one: Approach trading like you were operating a casino. Bias the dice slightly in your favour (through fundamental analysis, pattern-spotting, or whatever) and if you roll (trade) enough times then you will generate consistent profits. Accept that in the meantime any one trade can go against you. Relax, and don't fight the market!

Tony Loton, author --
Financial Trading Patterns
DON'T LOSE MONEY! (in the Stock Markets)

By the very fact that you are looking into this book you likely already know the critical elements to successful trading include (among others):

1. Defining and edge - technical / fundamental analysis - the fun stuff
2. Money management - define the amount you will spend to determine if your edge is working and if not cut your losses early
3. Record keeping - not just to help with taxes and to verify the broker's records, but to act as a journal to learn from your successes and failures to constantly improve your edge and state of mind
4. State of mind - what is so fully presented in Trading in the Zone

And of those elements listed above, it is easy to recognize that your state of mind is the one that is most often overlooked.

What I loved about this book is that it stayed true to its intent and did not stray off the subject. What I didn't like is that because of the depth that he goes into, I sometime found myself wondering if this is a book for traders or for psych students. But overall what I got from this book far outweighs any negative and I highly recommend it.

Douglas discusses five fundamental "truths" of trading which tend to boil down to getting yourself to the point where you can believe anything might happen. The benefit of this is that you'll begin to think in probabilities rather than getting locked into a position that your trade is the right one or wrong one and letting your behavior be driven by the emotions that may accompany that mindset. He includes chapters on taking responsibility, the dynamics of perception, understanding the nature of beliefs and the impact of them on trading as well as working with your beliefs and obtaining self-discipline. Some of his writing is very basic psychology but just as there's a big difference in reading a diet book and actually eating in such a way as to lose weight day in and day out, there's a big difference in reading this while nodding in recognition and actually doing the work to integrate it into your trading. If you absorb and apply the insights and do the exercises he includes, your trading is bound to benefit. But that's because you're applying self analysis and self discipline and both are required for successful trading. I'm giving it four stars because I think it could have used additional editing--the first few chapters could have been trimmed into one.

Internalize the 5 fundamental truths as proposed by Mark Douglas, they are applicable not just to trading but also to one's career and personal life. In my opinion, a must-have in one's personal library.

If you are a new trader, you probably won't "get" this book. It takes some time and pain to realize there's a problem beyond market knowledge. The author says as much.

I read the three star review and I agree with it---there's a lot of words in this book. BUT, as that reviewer said, the gems are there and worth every penny I spent on this book. I'd have paid a thousand dollars for them. I actually bought it because another reviewer said it was the best book he'd read on trading. I'd have to agree.

I have fabulous trading days only to have them followed by disaster days. I thought this was just me, but this book says one thing that will hit home to those who trade: euphoria leads to reckless trading. That's exactly the thought I couldn't put into words and hearing him I realized I'm not alone.

I wasn't going to review the book because I don't need the competition, but then I realized what he says is true---there are few great traders.

It may not be the most exciting writing/reading in the trading genre but when all is said and done one gets a lot from Trading in the Zone. It certainly helps to make concise notes and return to such highlights as often as one trades. Maintaining a probability oriented mindset is crucial for success in trading, and M.Douglas has made a major contribution in this area. Strongly recommended.

And, it doesn't hurt to read this essential book again every couple of years either as your trading develops and matures.

Some reviewers are critical of the style of writing (psycho babble, motivational, etc) and some are critical of the quality of the writing. Some even think the book is over rated. Don't be swayed by the critics -- just get the book and read it.

You'll find that the message (regardless of the delivery or the style of the writing) is all that matters. If at first the message seems redundant or unfamiliar or a bit uncomfortable, keep an open mind. Remember, repetition of a message enables you to integrate it more effectively. And, if the ideas are a little "out there" for you, it is the revolutionary ideas that are often the ones that inspire true discovery (in trading and life).

Mastering our trading psychology and self awareness is the key to pulling all the other elements together. A terrific system plus great fundamentals won't add up to consistent profitability unless we can master our mind.

This is a super book.
The focus is on improving yourself as a trader, but the material can be applied to any aspect of yourself that you wish to understand or improve.

The explanation about how the our minds create, maintain and use our beliefs is very clear and simple. The explanation of how are minds function with exiting beliefs is followed by methods for overcoming limiting behaviors and instilling new beliefs.

A quote that I think we have all been told in some form or another has much clearer personal meaning after reading this book.
"When it comes to personal transformation, the most important ingredients are your willingness to change, the clarity of your intent, and the strength of your desire."

If you're willing to work on yourself, this book is a fantastic guide.

This book changed the way I think and act when trading. If you are an experienced trader or a new trader, this book is a must. It's one of the only sources that focuses on the mental aspect of trading. There are piles of technical, fundamental and system trading books, but this author will introduce you to the most important part of trading - your mind and how to control emotion when putting on a trade!

The many reviews posted are pretty accurate, in my opinion. This is an excellent book. Enough said.

The Author has some really vital information for you to understand, but the manner is which it is presented for you to consume is extremely slow. He takes you through a process of comparing pyschological mistakes to your own trading experiences, trading style, and trading plan and discusses psychologically "why" you do certain things.

Many times through the book, I found myself laughing at the psycho-babble he professes. In my humble opinion, many ideas he postulates on are complete rubbish. Some of his logic is ..uuhh.. weak. For instance he goes into this reasoning of how ideas are energy, because they are intangible and some other reasons, and therefore subject to laws of energy as defined by Einstien. Whatever. Again IMHO, this kind of stuff is irrelevant.

Unfortunately, why he is postulating in this manner is important and therin lies the value of this book. You do have expectations that you have learned throughout your lifetime and they affect you actions. When you are unaware, these expectations or learnings rise to the surface, often in ways that are harmful to traders.

In general, he is trying to teach you to trade without fear but with discipline. These can be conflicting forces, and the Author guides you by telling you where troublesome feelings come from, how to understand them, and finally how to control them.

My recommendation: Read the whole book, look past the psycho-babble, and follow the lessons he is teaching. If you have not yet performed his exercise at the end of the book - do it. If you are serious about trading you will benefit by it.

Who am i? I have been trading actively for 3 years, most recently off 1 hour charts for trades lasting hours or days. I have progressed to this from trading daily charts. I have built a trading method with a strong positive expectancy. However my returns have been flat since I started trading, 3 years running.

This book has immediately given me confidence, as it has reinforced ideas and methods that I have already adopted through my education. My results have been immediate and this book seems to be just the push that I needed to "open up" my trading. I am not afraid of entering a trade, and more importantly I am no longer afraid to exit a trade either.

This book is basically 50% motivational-speak, 50% psychobabble and very little specifically about trading itself. As one of the other reviews state, the author is very repetitive and has a knack of explaining a one sentence idea in about one full page. The entire book could be easily cut in half without losing any useful content.

Strictly from a marketing point of view, the author and publishers could have made a lot more money by promoting this as a general self-help book.

Novice investors and traders will find 'Reminiscences of a Stock Operator' by Edwin Lefevre as a far superior book to spend money and time on.

The contents of the book can be sumarized in one line. Make your trading rules in order to execute your trading strategy and manage your risks and FOLLOW these rules. Everything else in this book is useless repetition.

It our minds, not the market, that beats most of us. Controlling our mind is the key to trading. This book deals directly with that. I loved the content of the book, but the devil is in the details.

I gave the book 4 stars instead of 5 because the author could have written the book much better. It could have been tighter - it would make for a better read.

Good message though.

Necessary to focus your trading efforts. An essential reading to understand what really matters in trading. Well written, fundamental contents for your trading arsenal (and not only).

i thought trading was all about charts and indicators, how little did i know. everyone needs to read and reread this book. one sentence on page 133 changed my entire outlook on making trades. "If the market is offering---------". get the book to read the rest of the sentence.

john clark

Douglas's writing is unstructured and repetitive. It was quite torturous to read the same points a few times over. The book can be cut down to half of what it is currently. For a better read, try Breet Steenbarger's Enhancing Trader Performance.

If you've ever hesitated to place a trade based on your fears or you've lost all your profits about as fast as you made them then more than likely psychology was a factor. Once I realized I wasn't going to be a successful trader until I started thinking differently I began looking for answers and, thankfully, found Mark Douglas. He explained very well why I made the mistakes I did and offered viable solutions. It's not an overnight fix but I'm well on my way to trading without emotions and realizing the market isn't out to get me. I honestly can not express in words the value of this book to me. Thank you Mark Douglas!

Not only have I got this book, but I got to meet Mark when he put on a private, one day class, for a group of trader friends in Las Vegas last year.
I have to wonder how successful as traders are the people who gave this book only one and two starts. Mark has helped some of the top traders in the country and he continues to be an active trader these days. He's the real deal!
When the class was finished, Mark joined us for dinner. He's a very down to earth person and it was a pleasure to get to know him in person.

Follow his directions in the back of the book and you'll be glad you have a copy of his book.

Outstanding! The psychological aspects of trading are probably the hardest to recognize and master. Mr. Douglas does a tremendous job of providing insights in this arena. A "must" for any serious trader.

I have never written a book review till today but was so disappointed by this writing and weak trading advice that I felt compelled to share my opinion with the world. Like many others I purchased this book based on the glowing reviews of other readers. Frankly, after grinding through this tome and it is a grind I could not determine what all the hoopla was about. Mr Douglas' message is simple:
1. Don't delude yourself into trying to see things in the market that aren't really there and
2. Anything can happen in the market so beware.
Why not just say that? My apologies to Mr. Douglas but he is a difficult read and says in thousands of words what could be said in much fewer and with more clarity. Do yourself a favor and actually try to read through this book in a bookstore. If you can get through it and it resonates with you then buy it. Otherwise save yourself the considerable cost of this book and find something else. There are probably many other better choices out there on the subject.

Along with Douglas' first book "The Disciplined Trader" this is one of only five books that all traders must read and use to be capable of being sucessful. It does not deal with specific trading methods except as working examples to demonstrate how our psychology works for or against us. After reading this you will have the tools to train yourself to become one of the very few who are successful long term and to know why: it's not about the trading technique, but about your ability to adopt and maintain the necessary state of mind to both make and keep money.

The other books I strongly recommend are Curtis Faith's "The Way of the Turtle" and Nassim Taleb's "The Black Swan" and "Fooled by Randomness" which will give you second thoughts about trading at all. It is possible to make a lot of money in the markets. It is much more difficult to keep it and very very few actually do.

Before you decide to trade, read the "Rich Dad / Poor Dad series by Robert Kiyosaki and understand why he recommends building a business as the best investment. You cannot get rich quick trading the markets. But you can get poor quick - as most do. And it can take years to recover.

If you are going to trade, do it as though you are going into a War zone (you are) and prepare yourself to operate under fire by practicing hard and with unbiased feedback from a coach beforehand. Douglas is one of the best trading coaches you will find - honest, direct, knowledgeable : a great teacher who has been through the war himself.

As a clinical psychologist just entering the trading arena, I am profoundly grateful to have found Mr. Douglas' books. Thinking I already "knew" what I needed in terms of investing, after a number of large losses, I read and re-read his books, and found myself on many of the pages. I came to realize that not only did I NOT know what I was doing, but rather, had convinced myself that I KNEW where the market was going ~ based on erroneous theories and conversations with fellow associates and peers.

If you are serious about being successful as a trader, I suggest you get rid of any and all notions you currently believe about the markets ~ and study Mr. Douglas' books intensely. Do the work, and you will succeed. I am now on an upward track, and have only Mr. Douglas to thank for that. And, as a Ph.D., that was hard to admit ~ but I'm glad I did, and I'm glad I did the work. You will be too.

I'm just going to quote Sannah Zay's review. He mysteriously gave the book 4 stars but I must give it 1. His description is exactly how I feel and expressed better than I ever could. But I had to give this book a bad review simply because it is so terribly unreadable. I don't understand all the praise. I hope Mr. Zay doesn't mind the extensive quoting:

"By Sannah Zay "suncat23" (San Jose, CA USA)

This book has been recommended by everyone that I respect as a successful trader. However, I believe the recommendations have far more to do with the essence of Douglas' points, than the manner in which he lays them out in prose. The book is highly repetitive and contains almost silly explanations of psychological processes, most of which are totally unnecessary.

...[T]o get the most efficient use out of this book, try to skip quickly over the psychological portions of the book, unless you need to be thoroughly convinced of how your own thought processes work to change your thinking, and have the need to change your thinking after reading it. "

Best book on trading I have read (and I've read quite a few). Douglas' "Fundamental Truths" and beliefs behind consistent winners are bang on.

This book was excellent. If you are serious about being a trader you must read this book. I don't care how many classes or seminars you have been involved in, if you have not read this book you are cheating yourself. The book at times seems as if it is redundant, but don't be fooled, read this book from cover to cover and then read it again! I only wish that I would have read it sooner, it would have saved me thousand and thousands of dollars!

I have been trading for a couple years now, and wasn't getting anywhere - actually losing most of my risk capital. I felt the problem was 'me' somehow, but didn't know what I needed to do. This book gave me some insight into why I was cutting my wins short and letting my losses run, so that I could work on those personal issues and become a better trader. I am still not a consistently successful trader, but I have something to work on and practice now to become better. I have confidence that I can do it now, whereas I didn't before.

One word from someone who tried -- don't use real money in trading until you can MAKE money in real-time simulation. Once you're confident that your trading system works and can prove it with paper profits over an extended time, only then put real money on the line.

Easy reading and great insight into the main phsicological behavior traps that sabotage your success as a trader. He says that YOUR SUCCESS as a TRADER depends more on correcting your believes that on mastering the technics of market analysis. So, in principal you don't need to be an expert in fundamental or tecnical analysis to succeed as a trader. First of all you have to work on your believes and that will do. For me it has been an eye opener. Enjoy the reading!

I Purchased TRADING IN THE ZONE by Mark Douglas and I am extremely happy and overwhelmed by the content. Amazon is my first choice for any purchase I am looking to buy

An outstanding work to psychologically prepare someone for trading as a serious enthusiast. He is a bit wordy at times and a bit redundant - but I think he thinks these are very important points that he wants to drive home. In fact, you can substitute the workd "life" for the word "trading" throughout the book and it becomes a good read for anyone trying to consistently achieve success at anything.

If you are teaching youself how to trade i cant imgine a better book than this to get you on the right path. Pure Brilliance

This book is about the one essential necessary to become a successful trader. I've read other books on the psychology of trading, some interesting some not. This book can help get you from where you are to where you want to be. It is clear and easy to understand. The ground is layed out in an simple to follow path. But like many simple things, it is not easy to do, the entire process takes discipline. It is possible to develope a winning attitude. It is necessary to take responsibility, but first you have to know what that means. Mark Douglas has given us a road map to developing a winning attitude, the prime essential for success. Take this book and use it well.
GIL

This book does a great job of addressing the psychological and emotional aspects of trading. Towards the middle of the book I thought Douglas was getting off track, but as I kept reading, everything made sense. He uses non-trading examples to help the reader understand what his or her mind is going through while trading. I truly think every trader should read this book!

Simply superb, no words to give the knowledge which we get from the book. I thank the author for giving the trading community this immense book.

This is the most awesome trading book, definitely one every trader should have part of his library, helps you understand yourself better and as a result you learn the market better, which helps you make more money and cut down on your losses. I wish I read this book when i first began trading, anyway I give this book two thumbs up and will recomend it to all.

I have always heard that 75% of success in trading is mental and this book explains just how that is so. Must read for anyone who wants an insight on how to understand how the mental aspect is the most crucial aspect of trading.

This book gets at the heart- or rather the head- of trading. It unpacks important issues that go deeper than technical or fundamental analysis could ever do. Attitudes and beliefs are exposed as key support or resistance zones- so to speak :) And the author clearly builds your understanding and self awareness of these issues as well as ways to strengthen your trading psycology.

Mark Douglas has really created a masterpiece. The simple yet powerful small read gives great knowledge about the importance of trading psychology. Understanding how beliefs resist change and demand expression gives us a better view in understanding self. This book is not about creating systems or edges. It's about going to the primary source of the problem, yourself. Mark teaches you how to change your beliefs through repetition by having very ridgid rules with your edges. If you've been trading for a few months or even years and have not yet acquired the levels of trading success you desire, pick up Marks book. He will give you excellent insight on obtaining a consistently successful traders mindset that will give you the opportunity to trade your edge to the highest degree.

Mark Douglas has really created a masterpiece. The simple yet powerful small read gives great knowledge about the importance of trading psychology. Understanding how beliefs resist change and demand expression gives us a better view in understanding self. This book is not about creating systems or edges. It's about going to the primary source of the problem, yourself. Mark teaches you how to change your beliefs through repetition by having very ridgid rules with your edges. If you've been trading for a few months or even years and have not yet acquired the levels of trading success you desire, pick up Marks book. He will give you excellent insight on obtaining a consistently successful traders mindset that will give you the opportunity to trade your edge to the highest degree. To understand more about trading psychology feel free to vist my blog [...] Thank you.

Trading is an emotional activity, this book addresses the mental side. It discusses in detail how one should approach the market. I have highlighted many parts of the book for later reference. A great addition to the books that deal with the technical aspects.

Mark Douglas really hits the spot in this book. The true problem of most traders - Psychology and attitude, not more technique and market analysis. He clearly identifies the problem and causes - he describes it so well it is as if he was in my head - and gives a practical and effective solution method. For me, his book really made the transformation I was looking for for years. Thank you Mark Douglas. A MUST book for every struggling trader.

Not being a professional Trader but just a novice looking to understand how the market works along with the methodology for Trading S&P e-mini 500 contracts, I fully recommend reading this book.

The author was able to bring into view another most important avenue of trading and that is your mental attitude about Trading and about yourself.

The author shows excellent examples how attitude of individual Traders can move the market and also how your attitude can cause a Trader to lose their money unnecessarily.

Trading must become 2nd nature to the novice in order to not leave money in the market.

I fully recommend that everyone interested in Trading the Market read this valuable book.

I'm on my third read of this book and getting in the 'Zone'.

This book works!

Great book overall.
I think this book really hammers away at some of the psychological issues hampering most trader's success. By the time you are through the book, you will know the important concepts quite well. And the author limits his discussions to the essential concepts, so you do not get alot, but whats important is in here.

I would like to comment on Mark's book maybe those who have the book can respond and see how you feel. in the book "trading in the zone" page 132 2nd paragraph where he mentioned "if your edge puts the odds in your favor, then every loss puts you that much closer to a win." I understand the message he is tryin to get across. but I think some people may mistakenly interpret this as how a losing trade actually makes the chances of winning bigger for next trade. which conflicts with mark's idea of how each trade is unique and independent. So no matter if you win or lose, the probability to win is the same for the next trade. I would love to hear what mark has to say about this, and maybe offer his wisdom. Please contact me via my email. Thank you very much

The best book on trading I have read, if your head is not in the right place , all the technical analyses in the world can't make you money. Ten out of Ten.

The first time I read this book I had a tough time with it. I found it to be very boring and long. I was looking for more "meat" but I finished the book anyway really enjoying the last couple of chapters. This was over a year and a half ago and I still lost money.

I took a little time out from trading and worked on myself and my difficulties and then got back into trading currencies again. I picked the book up again recently and re-read it and the book was exceptional. What I find very interesting is that it made much more sense to me the second time around and here is a very important point ....

When I was caught up in the negative emotions I thought the book was "empty" and to a large degree worthless, and I was still loosing money. When I started to temper the emotions and took the book from my shelf and re-read it my emotions were on an even keel and the book made much more sense. Surprise, surprise I am consitently earning profit now with my trading. No boom and then bust, just a nice solid momentum forward.

Emotions are a very funny thing when trading. You can obtain a large amount of fear causing hesitations, etc, or you can become very confident and cocky! But when the emotions to a large degree are gone, things become much more clear as do the profits. I am glad I read this book because ....

I can see clearly now! I hope you will read the book and see clearly now also. Best wishes on your journey.

ForexPreneur

If you are serious about getting yourself right to enter the world of trading in the markets, this book is a must. If you are just looking for more technical information on market analysis, this is not the place. This is the place for the person who really wants to be consistent with their approach to trading and is ready to realise that it all begins with what is going on inside each of us as individuals. The author breaks down much of the psychobabble around motivation and gives some tangible and useful information that can be implemented by anyone who chooses to improve their trading regime. Definitely on the recommended list.

There are too many useless concepts which a real trader will never care about. There is so much jargons and text without substance. Concepts that are up in the air, with no real world application. I do not know about you, but totally useless for me. If you really study the entire book, you will never trade. You will be confused as what to do.

Moreover it seems that the author just tried to fill the book, and had run out of concepts.... in trading terms, this book is way too overvalued but under-performing.

An important book that does a good job of addressing the whole mental game of trading. Mark S. explains what it takes and how to do it. I highly recommend this book for anyone trading.

but like the tale by shakespeare's idiot, signifying nothing. that a trader needs discipline, a fully developed tool set, and self awareness are trivialities. get a book on trading psychology that WILL help you: the psychology of trading.

sorry, but i'm getting really tired of books that promise all and deliver little, are expensive, and parade insignificance behind promising titles.

tlt