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Readers reviews of  Trading in the Zone

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This is not a book for traders just starting out. This is the book you turn to when you eventually realise that your trading success is being sabotaged by yourself. It happens to all of  us at some stage. Suddenly we lose touch with the market even though we know our analysis skills are good. We find the right trades, but they turn into losers, or we miss the really significant profits. This is self sabotage and this book provides useful analysis and solutions.

 

Douglas argues that trading is more about a state of mind that accepts responsibly and understands the true meaning of probabilities. He sets out what he calls five fundamental truths about trading. He shows how these relate to trading skills, what he calls the ‘zone’ and our belief structures. Central to this is his understanding of the difference between perception and learning and perception and risk.

He argues that trading success depends as much on how you handle emotional risk as it does on any other factor. Experienced traders would agree with him. Inexperienced traders tend to have trouble understanding the relevance of this ‘psycho-babble.’

 

New traders should read this book because some of what it covers will become relevant as they continue to trade. It may help them recognise errors more quickly. Experienced traders need to revisit the concepts in this book because it provides a clear outline of many of the problems faced by traders who want to move from average to good and better in their trading performance.

 

 

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