The Disciplined Trader: Developing Winning Attitudes

by Mark Douglas, Paula T. Webb

Overview

The 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

Product Details

ISBN-13:	9780132157575
Publisher:	Penguin Publishing Group
Publication date:	04/01/1990
Pages:	256
Sales rank:	174,679
Product dimensions:	6.17(w) x 9.26(h) x 0.84(d)
Age Range:	18 Years

About the Author

Mark Douglas is the author of The Disciplined Trader: Developing Winning Attitudes, published in 1990 and considered an industry classic and one of the first books to introduce the investment industry to the concept of trading psychology. Mark began coaching traders in 1982, and has continued to develop seminar and training programs on trading psychology for the investment industry, as well as individual traders. He has been a frequent speaker at seminars across the world as well as in the United States, teaching traders how to become consistently successful. He can be reached through his website markdouglas.com.

Table of Contents

Foreword, ix
Preface, xi
Acknowledgments, xvii
Part 1: Introduction, 1
1. Why I wrote this book, 3
2. Why a new thinking methodology?, 15
Part 2: The nature of the trading environment from a psychological perspective, 31
3. The market is always right, 35
4. There is unlimited potential for profit and loss, 39
5. Prices are in perpetual motion with no defined beginning or ending, 41
6. The market is an unconstructed environment, 49
7. In the market environment, reasons are irrelevant, 59
8. The three stages to becoming a successful trader, 65
Part 3: Building a framework for understanding ourselves, 79
9. Understanding the nature of the mental environment, 85
10. How memories, associations, and beliefs manage environmental information, 99
11. Why we need to learn how to adapt, 121
12. The dynamics of goal achievement, 139
13. Managing mental energy, 155
14. Techniques for effecting change, 167
Part 4: How to become a disciplined trader, 181
15. The psychology of price movement, 183
16. The steps to success, 201
17. A final note, 223
Index, 225