The Disciplined Trader Book Review

By Mark Douglas

The Disciplined Trader Book Review

The author of this book Mark Douglas is better known for his Trading in the zone book but this was the first book he wrote. 

If you haven’t read either book, I would recommend reading this one first to give you a better understanding of Trading in the zone. I did it the other way round then went back to Trading in the zone a second time after reading this book.

Overview

Author: Mark Douglas

Published: 1990

Pages: 256

Subject: Trading psychology

This book goes into how you need to adapt to the markets as the markets won’t adapt to you. The markets don’t care about you or how you are feeling. You need to develop a winning attitude and this book will show you how.

You won’t learn to trade reading this book, it’s not what this is about. Mark Douglas goes deep into the rooted beliefs we had drummed into us growing up. i.e losing is bad and makes us failures.

Like a casino

Mark goes into how each individual trade is irrelevant. Like in a casino, the owner doesn’t care about each and every customer and how much they are winning or losing. Overall, he knows he will be in profit.

It’s the same with sports trading. You won’t win them all, that’s impossible but overall you want to be in profit. Learning to take losses is the biggest thing you will need to learn.

The disciplined trader book review – Final thoughts

If you have a trading plan and read enough books on market analysis and are still struggling, then like me it is your mindset. They say trading is 90% psychological and 10% technical. This book will help you get to grips with the psychological stresses of trading and is a must read for every trader.

The author does an excellent job explaining the psychological pitfalls facing traders.

This book is not the easiest to read. It is a book that needs to be read in order to understand where it’s trying to take you. This does make a lot of sense and can be used for more in life than just trading.

It will make you look at yourself and other things in a very different way and helps you to understand why you do things they way you do. This is great if there are things in life that you want to change but don’t know where to start.

This book will show you how to change your perception before your actions.

Don’t forget to read Trading in the zone after this. All the pieces will fit together.

You can purchase this book by clicking on the image below – please note this is an affiliate link so I will earn a small commission if you make a purchase but will be no extra cost to you. 

Read Trading In The Zone Book Review Here

The Disciplined Trader Book Review


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