The Disciplined Trader: Developing Winning AttitudesThe classic book that introduced the investment industry to the concept of trading psychology. With rare insight based on his firsthand commodity trading experience, author Mark Douglas demonstrates how the mental matters that allow us function effectively in society are often psychological barriers in trading. After examining how we develop losing attitudes, this book prepares you for a thorough “mental housecleaning” of deeply rooted 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 to winning week after week, month after month. The book is divided into three 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 “A groundbreaking work published in 1990 examining as to why most traders cannot raise their equity on a consistent basis, bringing the reader to practical conclusions to go about changing any limiting mindset.”—Larry Pesavento, TradingTutor.com |
From inside the book
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Page xv
... fear . This means that out of all available market information , you will only perceive information that will , in effect , validate what you fear the most . Your fear will systemat- ically exclude from your awareness market information ...
... fear . This means that out of all available market information , you will only perceive information that will , in effect , validate what you fear the most . Your fear will systemat- ically exclude from your awareness market information ...
Page 70
... fear the unpredictability of your own behav- ior . At the same time , you will likely project this fear into the markets as being erratic and seemingly unpredictable , when it is your own behavior you fear the most . It would be ...
... fear the unpredictability of your own behav- ior . At the same time , you will likely project this fear into the markets as being erratic and seemingly unpredictable , when it is your own behavior you fear the most . It would be ...
Page 71
... fear . The negative energy stored in these experiences ( that create and support a belief about the threatening nature of the environ- ment ) will generate fear to the same extent as the degree of energy stored in the memory . By ...
... fear . The negative energy stored in these experiences ( that create and support a belief about the threatening nature of the environ- ment ) will generate fear to the same extent as the degree of energy stored in the memory . By ...
Contents
Why a New Thinking Methodology? | 15 |
The Nature of the Trading Environment | 31 |
There Is Unlimited Potential for Profit | 39 |
Copyright | |
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Common terms and phrases
ability associations avoid become beliefs bull market buyers cause Chicago Mercantile Exchange conflict confront consciously create cycles define degree direction distinctions effect emotional environmental information event everything example execute exist expectations experience experienced fear fear acts feel fire-walkers focus fulfill our needs function give going happen identify individual inner insight interact kets limited loser losing trade loss market environment market information market's behavior meaning memories ment mental energy mental environment mental framework Merrill Lynch move nature need to learn negatively charged energy nondimensional objective offer opportunity ourselves outcome pain perceive perception perpetual motion person perspective physical environment posi position possibility potential predict market price movement profits psychological reason regardless relationship result rience risk ronment sell sellers sense skills someone successful trader support and resistance things thoughts three-dimensional space ticks tion trading environment trading system understand winning days