The Disciplined Trader: Developing Winning Attitudes FROM THE PUBLISHER
Successful trading is 80% psychological and 20% methodological. Emotion is the enemy of successful trades. That's way, even with a modest knowledge of fundamental and technical information, the trader who is in psychological control will be the winner in the trading environment.
The Disciplined Trader helps traders learn the critical behaviors necessary in responding to market conditions and opportunities. Experienced commodities trader and teacher of trading dynamics, Mark Douglas, through his own early misfortunes in the market, has considered and confronted the problems experienced in trading (what he calls "forced awareness").
Douglas examines and discusses how he found the market to be and environment where the individual trader "has the freedom to create his own results", unimpeded by many of the constraints existing in modern social life.
The Disciplined Trader can help any trader change the fear of losing into a winning attitude based on its organized, systematic, and step-by-step approach for learning the mental skills necessary for accumulating wealth consistently.
SYNOPSIS
In The Disciplined Trader, Mark Douglas, and expert on the dynamics of trading, shows why most traders are unprepared for the different - often alien - strategies required for success in the trading environment.
With rare insight based o 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, month 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
In a comprehensive and logical manner, Mark Douglas shows you how to examine and limit our trading behavior - how to develop the mental discipline processed 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.
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