The Disciplined Trader: Developing Winning Attitudes

In this book, trading’s driving forces expert Mark Douglas explains why most traders are not ready to switch to another (often completely different) strategy—one without which you cannot succeed in the market.

Based on rare insight gained from personal experience trading in commodity markets, Mark Douglas shows why concepts learned to succeed in society often become serious psychological barriers in the market. Having uncovered the reasons behind a defeatist mindset, the author then helps the reader prepare for the “spring cleaning of their inner world”—uprooting entrenched ideas and traditional patterns of thinking. Next, the book describes how to develop and apply an approach and tactics that overcome psychological barriers and lead to success.

“The Disciplined Trader” helps the reader join the few chosen ones who have learned to manage their actions in the market (these few are traders who consistently achieve the highest profit level).

They achieved this by mastering the principle of systematic, step-by-step (week after week and month after month) compounding of profit.

The book consists of four parts:

- An overview of psychological requirements for actions in a market environment.

- Identifying complexities and obstacles on the path to becoming a successful trader.

- A general analysis of changes that may need to be made in market behavior, and recommendations on forming a foundational system of concepts for achieving that goal.

- Recommendations on developing specific trading skills based on a clear, objective assessment of market actions.