The Disciplined Trader : Developing Winning Attitudes (Hardcover)--by Mark Douglas [1990 Edition] ISBN: 9780132157575

in The Disciplined Trader, Mark Douglas, And Expert On The Dynamics Of Trading, Shows Why Most Traders Are Unprepared For The Different - Often Alien - Strategies Required For Success In The Trading Environment. With Rare Insight Based O His First-hand Commodity Trading Experience, The Author Demonstrates Why The Beliefs Learned To Function Effectively In Society Are Often Formidable Psychological Barriers In Trading. After Examining The Causes For The Development Of Losing Attitudes, The Book Prepares The Reader For A Thorough Mental House Cleaning Of Deeply Rooted Concepts And Traditional Thought Processes. And Then It Shows The Reader How To Develop And Apply Attitudes And Behaviors That Transcend Psychological Obstacles And Lead To Success. The Disciplined Trader Helps You Join The Elite Few Who Have Learned How To Control Their Trading Behavior (the Few Traders Who Consistently Take The Greatest Percentage Of Profits Out Of The Market) By Developing A Systematic, Step-by-step Approach For Winning Week After Week, Month After Month. The Disciplined Trader Is Divided Into Four Parts: An Overview Of The Psychological Requirements Of The Trading Environment A Definition Of The Problems And Challenges Of Becoming A Successful Trader Basic Insights Into What Behavior May Need To Be Changed, And How To Build A Framework For Accomplishing This Goal How To Develop Specific Trading Skills Based On A Clear, Objective Perspective On Market Action In A Comprehensive And Logical Manner, Mark Douglas Shows You How To Examine And Limit Our Trading Behavior - How To Develop The Mental Discipline Processed By The Small Minority Of Winners Who Make Money Consistently (weekly, Monthly, And Yearly). Some Of The Skills Focused On In The Disciplined Trader Include: Learning The Positive Dynamics Of Achieving Goals...recognizing Skills Needed To Progress As A Trader (and How To Stay Aware Of Them Instead Of Just The By-product - The Money Acquired)...adapting Yourself To Respond To Fundamental Market Changes...identifying Your Risk Comfort Level And Learning How To Expand It...acting Immediately On Opportunities...letting The Market Tell You How Much Is Enough...controlling Your Perspective Of Market Movement...and Much More. Author Mark Douglas explains that he lost almost everything he owned because of bad trading decisions. The experience led him to rigorous self-examination, and he discovered that emotions, especially fear, had led him to trade imprudently. He went on to write this straightforward, very penetrating explanation of the role of beliefs and emotions in trading. This is not an abstract academic exercise. Douglas is a trader talking to traders. He is thorough and practical in his analysis and advice. At times, his style may be awkward, stilted and even cumbersome; however, these flaws do not prevent him from communicating important, useful information. Although the book is specifically about emotional and psychological factors as they affect trading, readers are likely to notice that these influences are active in other dimensions of their lives as well. getAbstract finds that this is quite a good little book that has stood the test of time, despites changes in the technology of trading One of the first books to address the psychological nature of how successful traders think ~ The Disciplined Traderis now an industry classic. In this ground-breaking work published in 1990 ~ Douglas examines the causes as to why most traders cannot raise and keep their equity on a consistent basis ~ and brings the reader to practical and unique conclusions as to how to go about changing any limiting mindset. The trader is taken through a step-by-step process to breakthrough those queries ~ and begin to understand that their very thoughts may be limiting their ability to accumulate and succeed at trading. Offers rare insight from an expert in the dynamics of trading psychology. Shows why most traders are unprepared for the strategies required for success in trading, and why behaviors which are learned to function effectively in society are often formidable psychological barriers to trading profitably. Shows that the chaos isn't in the markets...it is in the trader's head! Presents revolutionary, ideas on discipline, responsibility, and sell-esteem, and the impact of your attitudes on your future success or failure as a trader. Gives a step-by-step approach to successful attitudes and behavior This work aims to help traders learn the critical behaviours necessary in responding to market conditions and opportunities. The author - an experienced commodities trader - has considered and confronted the problems he experienced in trading.