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The Disciplined Trader:
Developing Winning Attitudes
"Emotion kills successful trading."
In The Disciplined Trader, Mark Douglas, an expert on the dynamics of trading, shows why most traders are unprepared for the ditferent - often alien- strategies required for success in the trading environment.
With rare insight based on 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, montfi 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
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PHOTO- COMSTOCK, GRILL
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In a comprehensive and logical manner. Mark Douglas shows you how to examine and limit your trading behavior-how to develop the mental discipline possessed 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.
About the Author
Mark Douglas is president of Trading Behavior Dynamics, Inc.,a Chicago-based training organization. Formerly a successful commodities broker himself, Douglas has drawn on his own own experience- including costly mistakes-as well as observations of others to identify and develop methods for overcoming counterproductive trading behaviors. Over these past several years he has conducted numerous seminars and workshops for leading commodities and brokers organizations on the techniques explained in The Disciplined Trader.
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New York Institute of Finance
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Simon & Schuster, Inc.
A Paramount Communications Company
Printed in the U.S.A.
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