Just bought trading in the zone by Mark Douglas | Forex Factory

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Just bought trading in the zone by Mark Douglas

  • #1
  • First Post: Jan 5, 2007 3:03am Jan 5, 2007 3:03am
Further to some heavy recommendation I have just this second purchased trading in the zone by Mark Douglas...

I have read most of his first book and really enjoyed it...

Lets hope this is just as good as the first and indeed offers something a little more and different to his first one...

I hope you guys are right
  • #2
  • Jan 5, 2007 6:17am Jan 5, 2007 6:17am
While I have not read The Disciplined Trader, I just finished Trading in the Zone and it was awesome (except for one-two chapters at the end). Glad you purchased it.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #3
  • Jan 5, 2007 6:25am Jan 5, 2007 6:25am
It was my second book i purchased and it revolutionised my approach to trading.

Enjoy
Ademac
  • #4
  • Jan 5, 2007 8:51am Jan 5, 2007 8:51am
Now they were the sort of answers I was looking for
  • #5
  • Jan 5, 2007 10:18am Jan 5, 2007 10:18am
i liked the book as a whole, but some parts delved deeper into the human psychology than it needs to. But still, it's a good book
  • #6
  • Feb 9, 2009 11:27am Feb 9, 2009 11:27am
I am reading it at the moment it is very good.
managed to download it as a free ebook
  • #7
  • Feb 9, 2009 12:13pm Feb 9, 2009 12:13pm
My favourite book on psichology. Great read it is.
  • #8
  • Feb 9, 2009 12:26pm Feb 9, 2009 12:26pm
Quoting hilmy83
i liked the book as a whole, but some parts delved deeper into the human psychology than it needs to. But still, it's a good book
I agree. IMO Chapter 15 - The Psychology Of Price Movement in
The Disciplined Trader is the best thing Douglas has ever written.
Really good stuff! Not so much inside of your head but, in the head
of other traders as the market rolls along. Worth buying the book IMO.
  • #9
  • Feb 11, 2009 5:36am Feb 11, 2009 5:36am
Great book, IMHO.

from THE TRADING ZONE, Mark Douglas

page 121

1) Anything can happen

2) You don't need to know what is going to happen next in order to make money.

3) There is a random distribution between the wins and losses for any given set of variables that define an edge.

4) An edge is nothing more than an indication of a higher probability of one thing happining over another.

5) Every moment in the market is unique.

page 185

I AM A CONSISTENT WINNER BECAUSE:

1) I objectively indentify my edges.

2) I predefine the risk of every trade.

3) I completely accept the risk or I am willing to let go of the trade.

4) I act on my edges without reservation or hesitation.

5) I pay myself as the market makes money available to me.

6) I continually monitor my susceptibility for making errors.

7) I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.
TRO
  • #10
  • Mar 1, 2009 1:35am Mar 1, 2009 1:35am
Hi guys,

Does anyone know where you can purchase either of Mark's books on audio/MP4 etc. as I prefer to listen than read ?

Thanks

WG
  • #11
  • Mar 1, 2009 11:52am Mar 1, 2009 11:52am
Am I the only one that doesn't like this book?

Quote
page 121

1) Anything can happen

2) You don't need to know what is going to happen next in order to make money.

3) There is a random distribution between the wins and losses for any given set of variables that define an edge.

4) An edge is nothing more than an indication of a higher probability of one thing happining over another.

5) Every moment in the market is unique.

1)Obviously
2)When do I ever know what is going to happen next?
3)Doesn't actually make sense.
4)Ok..
5)Wow, thanks for that golden information. Whats the point?

It has a solid message, but why write with such fluff? Does this not bother anyone?
  • #12
  • Mar 1, 2009 12:12pm Mar 1, 2009 12:12pm
Quoting loa1452
Am I the only one that doesn't like this book?



1)Obviously
2)When do I ever know what is going to happen next?
3)Doesn't actually make sense.
4)Ok..
5)Wow, thanks for that golden information. Whats the point?

It has a solid message, but why write with such fluff? Does this not bother anyone?
In answer to your question.........nope.

If you have it, keep it on the shelf and pick it up again in a couple of years. Maybe you will feel the same. Put it away another couple of years. My guess is at some point you will will either see the wisdom this book contains or you will no longer be trading.
  • #13
  • Mar 1, 2009 12:28pm Mar 1, 2009 12:28pm
Quote
If you have it, keep it on the shelf and pick it up again in a couple of years. Maybe you will feel the same. Put it away another couple of years. My guess is at some point you will will either see the wisdom this book contains or you will no longer be trading.

Did you even read what I said? So if I never come to like the style of writing, I probably won't be trading?

Looks like you lack some logic skills. You should probably work on that for a couple of years.
  • #14
  • Mar 1, 2009 12:36pm Mar 1, 2009 12:36pm
Quoting loa1452
Did you even read what I said? So if I never come to like the style of writing, I probably won't be trading?

Looks like you lack some logic skills. You should probably work on that for a couple of years.
Oh ok I get started right now.

So you are saying you never change? Well markets do.
  • #15
  • Mar 1, 2009 12:48pm Mar 1, 2009 12:48pm
Quoting loa1452
Did you even read what I said? So if I never come to like the style of writing, I probably won't be trading?

Looks like you lack some logic skills. You should probably work on that for a couple of years.
Doesn't look like he did does it? I wouldn't worry to much about it, the faithful never take kindly to criticism of their holy relics.
The breaking of a wave cannot explain the whole sea.
  • #16
  • Mar 1, 2009 12:53pm Mar 1, 2009 12:53pm
When I first read thru the book I didn't appreciate it much. It felt "unnecessary." I've recently re-read it... I appreciate it much more now.

I still don't love the writing style, but I appreciate the points he makes.
  • #17
  • Mar 1, 2009 1:01pm Mar 1, 2009 1:01pm
Quoting loa1452
Am I the only one that doesn't like this book?



1)Obviously
2)When do I ever know what is going to happen next?
3)Doesn't actually make sense.
4)Ok..
5)Wow, thanks for that golden information. Whats the point?

It has a solid message, but why write with such fluff? Does this not bother anyone?
I have read the book a few times, the book has a huge amount of wisdom some just can't grasp. I understand what SunTrader is getting at, your post seemed to come off like you are totally against the book as you called it fluff, when in reality people who do understand the full power of the knowledge in this book would never call it fluff =) I happen to love the book, I pick it up and read it from time to time just to keep myself in that mindset! Maybe you should try reading all the way through the book, and if you have try to read it again!
Pippin all over the world =)
  • #18
  • Mar 1, 2009 1:06pm Mar 1, 2009 1:06pm
Quoting Craig
Doesn't look like he did does it? I wouldn't worry to much about it, the faithful never take kindly to criticism of their holy relics.
Have you read it? If you haven't maybe you might find it to be a "holy relic" too even if it was published way back in the year 2000. Hey, the book might not be something that everyone will benefit by but it is hard to determine that if they have never read.

Ever hear of Welles Wilder, the man who developed RSI/ADX and many other standard technical analysis studies, he is among many who have commented on the book, "Have you ever received a gift from a friend which looked pretty innocuous on the surface, but when you delved into it, you found it to be of immense value? The gift that I received is Trading in the Zone. I would strongly recommend that each of you give yourself a gift of this book".

No matter how long I trade I am always trying to learn new things but as always to each his own.
  • #19
  • Mar 1, 2009 1:14pm Mar 1, 2009 1:14pm
Quoting SunTrader
Have you read it?
Yes - hence my opinion on it.
You should take your own advise, as you say 'each to his own'. If it lights your fire, cool, but you will just have to deal with the fact it doesn't light mine.
The breaking of a wave cannot explain the whole sea.
  • #20
  • Mar 1, 2009 1:16pm Mar 1, 2009 1:16pm
Quoting loa1452
It has a solid message, but why write with such fluff? Does this not bother anyone?
All of these psychological trading books have a little background fluff to them.
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