Trading in the Zone : Master the Market with Confidence, Discipline, and a Winning Attitude

by Douglas, Mark

• ISBN13: 9780735201446
• ISBN10: 0735201447
• Format: Hardcover
• Copyright: 2001-01-01
• Publisher: Prentice Hall Press

Summary

Adds a new dimension to getting an edge on the market by examining the link between thinking strategies & a trader's success rate.

Table of Contents

Foreword	xi
Preface	xiii
Attitude Survey	xvii
The Road to Success: Fundamental, Technical, or Mental Analysis?
In the Beginning: Fundamental Analysis	1	(2)
The Shift to Technical Analysis	3	(1)
The Shift to Mental Analysis	4	(13)
The Lure (and the Dangers) of Trading
The Attraction	17	(3)
The Dangers	20	(5)
The Safeguards	25	(9)
The Unwillingness to Create Rules	27	(1)
Failure to Take Responsibility	28	(2)
Addiction to Random Rewards	30	(1)
External versus Internal Control	31	(3)
Taking Responsibility
Shaping Your Mental Environment	34	(4)
Reacting to Loss	38	(12)
Winners, Losers, Boomers, and Busters	50	(8)
Consistency: A State of Mind
Thinking About Trading	58	(3)
Really Understanding Risk	61	(3)
Aligning Your Mental Environment	64	(6)
The Dynamics of Perception
Debugging Your Mental Software	70	(4)
Perception and Learning	74	(5)
Perception and Risk	79	(1)
The Power of Association	80	(8)
The Market's Perspective
The ``Uncertainty'' Principle	88	(5)
The Market's Most Fundamental Characteristic	93	(9)
The Trader's Edge: Thinking in Probabilities
Paradox: Random Outcome, Consistent Results	102	(4)
Trading in the Moment	106	(7)
Managing Expectations	113	(7)
Eliminating the Emotional Risk	120	(5)
Working with Your Beliefs
Defining the Problem	125	(3)
Defining the Terms	128	(2)
How the Fundamental Truths Relate to the Skills	130	(5)
Moving Toward ``the Zone''	135	(4)
The Nature of Beliefs
The Origins of a Belief	139	(3)
Beliefs and Their Impact on Our Lives	142	(5)
Beliefs vs. the Truth	147	(6)
The Impact of Beliefs on Trading
The Primary Characteristics of a Belief	153	(14)
Self-Evaluation and Trading	167	(6)
Thinking Like a Trader
The Mechanical Stage	173	(6)
The Role of Self-Discipline	179	(5)
Creating a Belief in Consistency	184	(5)
Exercise: Learning to Trade and Edge like a Casino	189	(12)
A Final Note	201	(2)
Attitude Survey	203	(6)
Index	209