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The Definitive Guide to Mastering the Psychology of Trading by Mark Douglas
I'm curious as to whether anyone has yet purchased the latest book by Mark Douglas, published posthumously.
Its full title is
The Definitive Guide to Mastering the Psychology of Trading: How to use a comprehensive understanding of price movement to overcome mental obstacles that prevent you from achieving consistent results
If you have purchased it and read it, what did you think of it?
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
So far so good into 2 chapter. Wonderful analogues that make it easy to understand what he is trying to get across. Mark is very skilled in this regard. Very happy with purchase by did not have time today to read it but tomorrow looks better. I will post more about the book as I go.
Ron
Sent from my iPhone using Tapatalk
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
We have an older small Kindle which I don't use. Reading Kindle books on iPhone 6+ or Samsung tablet. Love that I can highlight see what others have highlighted take notes look up words/phrases have Amazon Echo read my Kindle books to me and knows exactly where I left off in the app. Its great!
Also use calibre on PC its great too.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
A part from chapter 2 I think is worth sharing.....
Mark a 1/4 way into chapter 2 is talking about learning to win in trading. And how people think that is what is important to learn how to do. Makes sense right? Turns out not really. Learning some technical method some pattern creating some algorithm or learning the ins-and-outs of order flow, market geometry etc etc ad nauseam ad infinitum cannot create the skill sets need to obtain the goals we all truly are after. Yes having winning trades is something we need to learn about and how to do but it's very, extremely, different from becoming a consistently profitable trader with an income one can count and rely on for years, decades. Mark states that there is "no positive correlation" connecting learning a way to have winning trades and being a consistently profitable trader over a long period of time none.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Thank you blash. It's a great quote, and something I long suspected. There's a saying that the above is the reason why some great market analysts are terrible traders.
