Essential Listening - Mark Douglas Audio

http://markdouglas.com/pages/4/index.htm

2 great sessions for "Psychological Guru" Mark Douglas

"Consistency is the result of a carefree, objective state of mind, where we are making ourselves available to perceive -- and act upon -- whatever the market is offering us in any given now moment."

Learning Flawless Execution (See Attachement)

S & C Interview (See attached file)

Get Abstract Notes - Trading In The Zone (See Attached File)

I read his book, and honestly did not like it TOO much. There are numerous key (and very very important) ideas I took from it and wrote them down for me, but I thought that for the most part his book is too philosophical for me.

Just my 2 cents...

Are the lecutres available in mp3 format somewhere? I would love to listen to them on the way to work.

I agree. I have Mark's "Trading in the Zone" book. It was HIGHLY recommended by a fellow trader friend. He thought it was the best book he ever read.

I'm not quite as enthused about it.

Yes, there are some good psychological aspects in the book. Psychology in trading I know is key for a lot of people, myself included. However, his book really didn't give me much insight that I didn't already know and apply myself. Much of it to me is common sense...but, mebbe to others it isn't so clear, and this could be very insightful.

Each person is different, some get more out of books like this than others.

Bravo, Hagadol!

I feel that you do us all a very valuable service by bringing this Mark Douglas material to our attention.

I have become a very enthusiastic Mark Douglas fan. His masterpiece, "Trading In The Zone," bids fair to be the best book on trading I have ever read in 16 years in the field. And his first book, "The Disciplined Trader," is a worthy precursor to it.

However, just because I like something doesn't mean I leave my critical faculties at the door to worship at a guru's lotus feet. That's just not me. I understand why some people have trouble with it. Some of the psychological stuff can be a touch tedious. But his insights are very valuable. And there's much, much more in there than just his psychological insights! I have gone over that book with a fine tooth comb, sentence by sentence, and there are gems in there of incaluable value! In fact, in my view, any trader who does not absorb and incorporate Mark Douglas's "Five Fundamental Truths of Trading" and "Seven Principles of Consistency" is set up for failure, anxiety and angst throughout their trading careers, which are likely to be brutal, painful, unprofitable and short.

Here's the bottom line: Mark Douglas has performed an heroic intellectual feat in attempting to get our grubby noses out of our endless obsessions with the present trade to bring us into the brilliant sunshine of the Broad Statistical View! Once you understand -- really understand -- that his First Fundamental Truth is gospel and that "Anything can happen" on any one trade and that you can only judge your results over a statistically significant series of trades, your obsession with the present trade fades like morning dew off the grass in the afternoon sunshine! You trade with confidence and ease. You sleep like a baby. If a trade goes against you, you shrug it off like water off a duck's back.

Perhaps one of his most brilliant sentences is this: "When I place a trade all I expect is that the market will do something." That's it in a nutshell. The market and/or the chart you are trading will either go up, go down or go sideways. Period. Something will happen but you can't KNOW in advance what it is. You have to play the probabilities and no matter how high they are in your favor on a single trade, anything can happen and you can lose.

BUT, BUT, BUT...if you view your trading over the long run, over a statistically significant series of trades, and your "edge" or methodology is any good, the bell curve of standard distribution will do its magic for you WITHOUT FAIL! In other words, the outcome is not predictable in the short run but almost infallibly predictable over the long run. And this can be demonstrated and proven not merely beyond a reasonable doubt but beyond any doubt whatsoever over and over again!

The reason for the psychological stuff is to try to show us why we fail to grasp these obvious truths, or, even if we do grasp them intellectually, fail to apply them emotionally.

If you don't think it's a great book, you need to read it again. And again. And again. Carefully. Sentence by sentence. I don't know how many readings it will take. That depends on you. But sooner or later, after one of them, you will find yourself concluding that it really is a GREAT book, and at that point, you will apply its lessons and your trading life will change forever for the better.

I think it's a masterpiece. Truly.

Good work, Hagadol!

hiyo

Just bump this thread up as I've just got "TRADING IN THE ZONE" from the Audible website; only heard a few chapters but I like the concept and as I travel lots, this is an excellent way to occupy my thoughts and so easy to go back review information.

Anyone else use Audible books?

where did you find audio file Trading in the Zone/ thanks

Not posting any links, but the hint is in the word - AUDIBLE that favorite search engine GOOGLE will bring it up

Mark is a big man