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The Disciplined Trader™: Developing Winning Attitudes Kindle Edition

by Mark Douglas (Author), Paula T Webb PhD (Author) Format: Kindle Edition
4.6 4.6 out of 5 stars 1,439 ratings
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The first-ever book to address the psychological nature of how successful traders think The Disciplined Trader is now an industry classic and all-time Amazon best-seller which has set the bar for all others who came later. In this groundbreaking work published in 1990 Douglas and Webb examine the causes as to why most traders cannot raise and keep their equity on a consistent basis and brings the reader to practical and unique conclusions as to how to go about changing any limiting mindset. The trader is taken through a step-by-step process to break through those queries and begin to understand that their very thoughts may be limiting their ability to accumulate and succeed at trading. The Disciplined Trader is critical for those new to the markets, to traders who are returning to the markets, and even veteran traders who cannot seem to break through to a higher threshold of accumulation and consistency. The reader will learn that the market is unstructured unlike any other career field; will learn the Three Stages to Becoming a Successful Trader; learn how their very thoughts manage how they perceive the markets; and learn how to adapt to the ever-changing market environments. Douglas and Webb help traders neutralize the fear of losing into a mindset of winning through this systematic approach to creating, instilling, and maintaining the mindset of a consistently successful trader.
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Editorial Reviews

Review

PLEASE NOTE: "THE DISCIPLINED TRADER" AND "TRADING IN THE ZONE" ARE NOT OUT OF PRINT. THE PUBLISHER, PENGUIN RANDOM HOUSE, HAS DELAYED SHIPPING INVENTORY TO AMAZON. PLEASE CONTACT THEM WITH COMPLAINTS: mlizzi@penguinrandomhouse.com, lappleton@penguinrandomhouse.com, authors@randomhouse.com. THANK YOU!

From the Author

"In my book, the trader is taken through a step-by-step process to breakthrough those queries ~ and begin to understand that their very thoughts may be limiting their ability to accumulate and succeed at trading.This book can help any trader change the fear of losing into a winning attitude based on the step-by-step approach for learning the mental skills necessary for accumulating the wealth you desire on a consistent basis. To further your trading education by instilling these concepts at a practical level, contact Paula T. Webb - paulatwebb.com.

Product details

  • ASIN ‏ : ‎ B004X6SK0E
  • Publisher ‏ : ‎ Global Publishing House (January 2, 2011)
  • Publication date ‏ : ‎ January 2, 2011
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 2404 KB
  • Simultaneous device usage ‏ : ‎ Unlimited
  • Text-to-Speech ‏ : ‎ Enabled
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Enabled
  • Word Wise ‏ : ‎ Enabled
  • Sticky notes ‏ : ‎ On Kindle Scribe
  • Print length ‏ : ‎ 336 pages
  • Customer Reviews:
    4.6 4.6 out of 5 stars 1,439 ratings

About the author

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Mark Douglas

Mark Douglas

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The field of Trading Psychology was initially thought of, and co-created by Mark Douglas and Paula T. Webb collaboratively and introduced to the trading community by them in the mid-1980s. Mark Douglas and Paula T. Webb's first book "The Disciplined Trader™" published in 1990 is an industry classic, and along with "Trading in the Zone™" published in 2000, their books are the FIRST books to introduce the investment industry to the concept of trading psychology years before anyone heard of that concept, much less providing coaching in this now popular way of approaching trading. They are Wall Street moguls and considered the "Gurus" of trading psychology.

One of their popular books "The Complete Trader" is available published in 2015. Another of their current books, the "Little Book of Trading Performance" is now available as well. "Becoming the Disciplined Trader" which is the expanded version of "The Disciplined Trader," is another of their best-selling books is available in Kindle and in Nook on Barnes & Noble.

To date, Mark and Paula's first two books have been translated into nine languages including the Chinese (Simplified & Complex), French, Italian, Japanese, Korean, Polish, Portuguese, Czech, and Spanish languages, with additional foreign language translations to come in the future. "The Complete Trader" has now been translated into the Japanese language as of 2017. "Becoming the Disciplined Trader" has been released in the Czech language.

Mark began coaching traders in 1982; Paula took over his coaching business in 1999 when he returned to trading full time. They continued to develop seminar and training programs on trading psychology for the investment industry, as well as for individual traders for decades. Mark was a frequent speaker at seminars across the world, and along with Paula they traveled to 8 countries, as well as across the U.S., teaching traders how to become consistently successful. May of 2010 was the start of Mark and Paula hosting joint workshops (instead of individually) on the mental aspects of trading psychology, as well as the expanded field of the "Discipline of Trading Psychology" created by Paula. These workshops continue forward ensuring social distancing safety; check the website for upcoming dates. paulatwebb.com

Mark and Paula have received several awards for their books and work, including the prestigious "Bull/Bear Award" in 2006, 2008 and 2011, and again in 2015 and 2017. Paula is also a best-selling author of 15+ books and producer of independent films. She continues her trading, coaching, and workshops forward. Mark and Paula completed a number of new products for the trading community which will be available for purchase moving forward. Paula is currently working on the biography and screenplay about the life of Mark, details will follow.

*There are also NO LEGAL DOWNLOADS of any of our materials on the Internet. ALL DOWNLOADS are stolen.*

Before purchasing any products by Mark Douglas and/or Paula T. Webb anywhere else other than our websites or on Amazon please contact our office to ensure they are authentic - elsewhere found pirated on the Internet they may be incomplete or contain false information, which will be very detrimental to your trading results.

Also, there are NO products/services by others claiming to have worked with or are endorsed by Mark and/or Paula, that have been endorsed or authorized by our office. Feel free to contact our offices with questions.

Customer reviews

4.6 out of 5 stars
4.6 out of 5
1,439 global ratings
Would recommend!
5 Stars
Would recommend!
Item came in great condition! Have not finished reading, but so far it’s a pretty great book!
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Top reviews from the United States

NChambers
5.0 out of 5 stars A short but brutal slog - Not that there's anything wrong with that.
Reviewed in the United States on April 19, 2003
Verified Purchase
Mark Douglas writing style is very Zen, but the lessons are vital so it's worth the slog. It took me three WEEKS to get through the first 80 pages. At first the concepts were downright weird, and he delivers them in a slow-pitch fashion. There were hardly any concrete examples or analogies to really sink my teeth into.

It didn't feel like a standard book. He doesn't seem to observe any of the standard conventions about clarity, brevity, expansiveness, repetition, or other typical tools. Granular at some levels, yet macro at others. Nothing in the middle, which is where a guy like me WANTS it to go.

I WANTED somebody to take me by the hand and say,
"Here's HOW you change yourself.
"Do this assessment / self-evaluation form, then
"Do the exercises for the 'foundation' areas everybody needs, then
"Do these other exercises specifically for the areas you suck at worst, then
"Do them for Y weeks, and rinse and repeat as necessary until you have the Core Skills."

I didn't WANT to learn this weird Mark Douglas way. It wasn't fun. It wasn't hip. But I persevered, and the light at the end of the tunnel was not a train. I would learn a principle then find out I had only learned PARTS of it - there was actually something bigger, broader, and more all-encompassing above it. Criminitly... I'm starting to sound like Mark. He'll give you principles, but you'll still have to learn WHEN and HOW to apply WHICH principles. Here's an example in my own voice, adapted from the book: The old trading mindset says, "when BAD things happen, kick in either fight or flight reaction." The new mindset says, "When INTERESTING things happen, OPEN YOUR EYES, learn from them and DELIBERATELY choose a response....

Studying this book is almost like watching one of the cooking shows on PBS. Those guys ACT like they're going nice and slow, and that you have plenty of time to keep up. But the truth is, They're burning rubber and you don't have a snowball's chance unless you taped the dang show and can re-wind at will. ...

One of the things about this book - Mark seems to be a shockingly humble guy. He doesn't present himself as the world's perfect trader. Yes, he has street cred, but he doesn't present it like that at all. He wants you to know the pain he went through, so you can avoid it yourself. Not only does he see the big picture, he sees the ugly gory details...

-Norm Chambers
68 people found this helpful
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arnisdaddy
5.0 out of 5 stars Amazing book.
Reviewed in the United States on September 20, 2023
Verified Purchase
This is by far the best Trading psychology book I have ever read, and I pretty much read them all. Not only did this relate to Stock Market Trading, but really the psychological ideas can be translated to every facet of your life. This is a book that should be read several time over. Along with his next book "Trading in the Zone"
3 people found this helpful
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Daniel Mezick
5.0 out of 5 stars A How-to on Belief Change
Reviewed in the United States on March 24, 2009
Verified Purchase
This book clearly explains how BELIEFS drive cognitive functioning. If you are interested in more accurately perceiving object reality (rather than your filtered versions of it) then this book is for you. Douglas explains how beliefs filter reality. He then goes on to explain how to manage your beliefs, such that you become more adaptive and learn faster from experience. He provides specific mechanical steps for engaging in belief change.

This book is actually about becoming more fully conscious ! Douglas shows you how. Douglas confirms the findings of Ariel and Mack in the book INATTENTIONAL BLINDNESS. To appreciate this book, you really do have to understand the IB phenomenon as described in that book...

An earlier reviewer quotes this from the book, poking fun at it:

"Our committed expectations about the future will act as a force on our perception of market information to control its flow into our mental system in such a way as to avoid a confrontation with anything that doesn't conform with what we already believe is possible."

What Douglas is saying is simple: predictions are beliefs, and you will automatically ignore data that invalidates your beliefs. Beliefs, including predictions and judgments, are in fact filtering your perception of objective reality. This means that what you believe has everything to do with what you notice or perceive.

This book is actually a classic, from a layman, on cognition and cognitive process. The biggest contribution to cognitive science here is the coverage of fear and how fear narrows perception in a very dangerous way for traders. Approach the book as a cognitive science book written by a very experienced and knowledgeable layman and you'll enojy this book tremendously. The subject matter is applicable well beyond the trading domain. However, since trading is so psychologically demanding, it is in fact a laboratory for understanding cognition and cognitive effects produced by emotions like fear. Buy this book if you want the inside scoop on how you actually are perceiving the world around you.
24 people found this helpful
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Jason P.
5.0 out of 5 stars Amazing Book for Mindset
Reviewed in the United States on November 5, 2023
Verified Purchase
This has to be one of the best books written on human psychology and the markets. Wish I had read it a lot earlier. A must for a serious trader.
2 people found this helpful
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Top reviews from other countries

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Marcelo Ribeiro
5.0 out of 5 stars Excelente.
Reviewed in Brazil on February 22, 2024
Verified Purchase
Mark Douglas é o meu guru na psicologia do trader.
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upswing2
5.0 out of 5 stars a critical read if you're serious about trading
Reviewed in Canada on August 14, 2022
Verified Purchase
all traders will recognize themselves in his psychological descriptions of the classic trading struggles. even though it speaks to a different era of trading (the onslaught of algos etc) it is still ENTIRELY relevant
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Rahul Gupta
5.0 out of 5 stars Hard cover is very useful
Reviewed in India on March 24, 2024
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Rahul Gupta
5.0 out of 5 stars Hard cover is very useful
Reviewed in India on March 24, 2024
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SERGIO R
5.0 out of 5 stars Excelente libro
Reviewed in Mexico on February 15, 2021
Verified Purchase
Excelente libro, uno que tiene que estar al frente de la biblioteca personal
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Dimi
5.0 out of 5 stars Trading and Market psychology
Reviewed in Germany on December 10, 2022
Verified Purchase
I never expect that the market is so close related to psychology. The depth of this book in the trading psychology is in high level It is exactly what you need to start building your fundamentals, in trading any kind of market! I enjoyed it a lot!
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