The Disciplined Trader

Discussion in 'Psychology' started by chessman, Aug 13, 2003.

  1. chessman

    chessman Guest

    I know ET has many Mark Douglas fans. His two books are probably the best books I have ever read on the subject of trader psychology.

    I recently came across this excellent QA by him.

    (please click on System Trading -- > articles and publications)

    Interesting he says trading should be fun and easy, rather than a battle which most traders imagine trading to be, you against them etc...
  2. Yes, but
    Fun+Easy+Rewarding = BORING to a lot of risk-seeking people who seek the exhilaration of losing.
    They are Risk-Averse when presented with rewarding choices/experiences.
    They are Risk-Seeking when presented with losing choices/experiences.

  3. Thanks
  5. Saw this thread and just had to comment.

    Just back from holiday, where 'The Disciplined Trader' was, once again, my constant companion. My wife simply cannot believe how I can read one book so many times.

    When I read it the first time over a year ago, I raced through it. Took me just over two days, and left me dumbstruck. Two weeks later I read it again, marking it up in the margins & highlighting everything that I really wanted to take on board. Then I left it a month or so, but inevitably I dipped in and out on numerous occassions. And now having just finished it a third time I still feel it is in a league of it's own in terms of really dealing with the unique spirit of the trading universe and its associated psychological implications. The fact that it happens to be so beautifully written is a real bonus.

    If anyone could share any further Mark Douglas articles or other material, I for one would be very grateful.

  6. dbphoenix


    I agree. There are certain books that open windows, but they have to come at the right time. I suspect that many traders who read Douglas too soon might think yeah, yeah. It's only after stumbling and falling a number of times as well as being frozen by fear and anxiety that these books really have their impact.