Trading in the Zone is a life-changing book that helps Sri Lankan traders deal with the mental problems they confront in the financial markets. Douglas gives great advice on how to build the mental discipline needed for consistent trading success in a country where changes in the economy can have a big effect on investment decisions. His strategy works especially well for Sri Lankan investors who are trading in both local and foreign markets. It gives them a way to get past the emotional biases that are typical in our trading culture.
This book gives Sri Lankan readers who want to improve their trading skills beyond technical analysis deep insights on how to develop a probabilistic mindset. Douglas does a great job of breaking down the fear, greed, and other mental blocks that traders often face in markets that are as unpredictable as ours. Local investors can learn how to keep their emotions in check by learning these ideas. This will help them do well in Sri Lanka's unique market conditions and economy.
The ideas of Trading in the Zone are applicable across cultures, but they are especially useful for Sri Lankan traders who have to balance traditional ways of thinking about investing with modern ways of thinking about trading. Douglas's lessons on risk management and keeping up a steady level of performance give our new trading community a new way to think about things, helping readers change their approach from reactive to strategic.
Quote
"The market doesn't know if you're in it or not. It doesn't feel your pain. It's not against you, and if you're making money, the market is not for you either. It's just doing what it does."
Reviews
This book changed the way I trade stocks in Colombo's stock market. Douglas takes away the fallacies and explains why most traders fail mentally. The way he thinks has helped me more than any technical system I've learned about.
About the Author
Mark Douglas was a well-known trading coach and consultant who focused on the psychology of trading. After losing a lot of money early on in his profession, he spent the rest of his life trying to figure out the mental side of effective trading. Douglas held several seminars across the world and was a well-known expert on trader psychology until he died in 2015.
Product Details
Author: Mark Douglas
Publisher: McGraw-Hill Education
Language: English
Binding: Paperback
Pages: 240
