Summary of Trading in the Zone

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Trading in the Zone book summary

Rating

7 Overall

8 Applicability

7 Innovation

7 Style

Recommendation

Mark Douglas compares a great trader to a world-class athlete: Both have honed skills, reflexes, instinct and will to a fine edge. Both have reached a condition where a winning performance is an automatic, utterly unconscious, process - They are operating in the zone. To reach the zone, traders must impose mental self-discipline. By adhering to a consistent and strict trading system, maintained by a consistent and strict mentality, Douglas contends that people can learn how to make money trading. getAbstract.com recommends this book for its underlying message that great traders are made, not born.

In this summary, you will learn

  • The definitions and philosophies of fundamental and technical analysis;
  • How mindset determines the success or failure of traders, and
  • Attitudes and mental techniques that you can adopt to improve your performance as a trader.
 

About the Author

Mark Douglas is renown as one of the foremost experts in trading psychology; having traveled across the world for over 20 years developing programs for, and coaching all levels of traders on, how to achieve and sustain a successful trader’s mind-set. An award-winning author of the industry classics Trading in the Zone, The Complete Trader and The Little Book of Trading Performance co-written with Paula T. Webb, a leading educator in the field of prosperity psychology.

 

Summary

Fundamental vs. Technical Analysis
As recently as the late 1970s, fundamental analysis was by far the dominant orthodoxy among professional traders. Fundamental analysis is about creating mathematical models that incorporate all the variables that might affect the supply/demand equation...

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