BOOK REVIEW: TRADING IN THE ZONE

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Trading in the zone book is written by Mark Douglas. This book is based on the stock market trader’s psychology and mind set and novice trader. People may know the timing of buying a stock, they may know about the big players of the market but they may not know about themselves. Read this book to explore the trading abilities lies within you.

I read this book in fourteen hours (not continuous). This is the best book to improve the psychology of trading. In the world there are so many courses available for trading and investing but I find the only book that talk about the psychology of traders.

In the book we read about trading fears, most of the traders fear from being wrong. Everyone from the childhood taught to be right but in stock market no one can be right all the time, no one can avoid stop loss in the trade. You may take the best entry in the trade. Your strategy is the best but you fear of losing your money. In a trending day you may fear from missing out if you do not take an entry in the trending stock. These are some of the fears every trader feel while trading. In the book you will learn the techniques tackle these fears.

Unlike in our daily life, we assume that if three events are wrong then there is very high probability of fourth event being wrong but in the stock market it is not true in stock market anything can happen, you just need to follow your setup, discipline and strategy. Stock market is uncertain and it gives uncertain outcome. It is based on people’s sentiment.

In the book it is suggested to follow consistency in your training rather frequently changing your strategy and set up. To follow consistency you must identify your edge. You must predefine your risk while taking entry in any stock. You must be ready to face the outcome of the trade.

Mark Douglas teaches us to improve trader’s mind and thinking in probabilities to get better results. You do not need to know about the markets movement but you just follow winner’s mind set.

In the book you will not find any number while stock market is totally based on numbers. Mark described trading psychology from beginning to advanced level. The language of the book is very simple and can be read by any age group. I’m learning and practising trading from more than one year and this book impacted deeply in my mind set. Now I did not fear nor change my strategy but I follow discipline and my setup. I recommend this book to every trader, read the book and follow the psychology; I guarantee you will be the best trader in very less time…

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