Trading in the Zone

[MC]

I'm near done with "Trading in the Zone".

This was the kick I needed to get my sub-conscious on board with what I've known consciously all along.
Play the laws of probability by trading a system ONLY. If you trade off discretion you are trading off emotion and you will come out in the red long term.
You can't be consistent if you don't have a steadfast plan and execute 100%.

If you're just starting out, read this and focus on the mental side before EVER looking at charts.

[MC]

For anyone on the fence about this book (especially non profitable traders). You will lose much more than $30 going forward, I think you owe it to yourself to check this out. Freekin Simon said he is going to order it, hes PROFITABLE and he trades for a living. If he thinks it's worth a shot I'd ask you to stop looking for why NOT to buy it and just trust me. I gain nothing but the satisfaction of knowing this could help you immensely.

This book will help you realize why you hesitate, why you have fear, why you have greed etc...
But the biggest thing is he drills into your head with massive repetitions the same things.
It annoyed me at first on the conscious level, but by the time I got to the how to fix things part it already sunk into my sub-conscious and I knew why he'd sounded like a broken record.

Have an open mind when reading this, don't think you know it all...cause if you did you wouldn't be a trader in the red right?
We're talking about the cost of a freekin dinner for 2 here, if it's that hard to part with your chump change the market might not be right for you.

For the record...it's not about a system, setup or anything specific. It's somewhat geared towards system based traders but a discretionary trader could benefit a ton from knowing the WHY they trail so aggressively etc...
It's about raw psychology that will help you understand and deal with broad issues not just the market related ones.
If you don't want to learn why your subconscious does what it does...this book isn't for you.
If you have a spare 30 bucks and want to give it a shot...I highly recommend this book. Can't say it enough times, again I gain nothing other than knowing I'm trying to help others.

[Jonathan]

Here's a review I found on Amazon about the book:


By Alkiguy (Seattle, WA United States)

I have traded now for nearly 3 years. I have book shelves full of books about trading, from technical analysis to trading tactics. Not until I read this book did I understand what it meant to create a trading plan - or for that matter, what the plan should look like. It was not until I read this book that I understood that simply trying harder, studying more, or researching deeper, would NOT improve my trading. And if fact, for reasons made obvious in this book, these pursuits can actually be detrimental.
However, I really think that an appreciation for this book can not be fully realized until a trader has been knocked around a bit - much like most teenagers can't be "told". After you have read the books on technical analysis (which I believe IS important), and after you have lost enough money, then read this book. You'll be the most out of it that way!


The reason I post this is, he has a good point. I don't even have the book yet, but I can already see that this is something that only truely makes sense after your a little seasoned with the market.

MC would have to confirm this or not.... eventually I'll be able to confirm it for myself.

Anyway, it should be here by Wednesday... I'm quite excited.

[MC]

If you guys are interested in this great book, please use this link as TradersBASE will get a few bucks which will go to supporting the site going forward.

Edit---
Have to do some work on vbulletin to get the links to work properly, still...BUY THIS BOOK!

[Vadex]

Just finished reading this book, I gota say it is pretty good but stretched out, It could have been condensed to 50 pages.

[MC]

Originally Posted by Vadex

Just finished reading this book, I gota say it is pretty good but stretched out, It could have been condensed to 50 pages.

Naw...though it's repetitive it was done that way for a reason. How do you drill something into somebody's sub-conscious? Repetition.

After you get it, then it becomes..."wow I can't believe I never realized that was why I was afraid as price got near my stop" etc... Like many things in life which seem easy or obvious, only after you go through much drama or read something deep does it click. This book is a MUST have for any serious investor/trader.

[Vadex]

Originally Posted by MC

Naw...though it's repetitive it was done that way for a reason. How do you drill something into somebody's sub-conscious? Repetition.

After you get it, then it becomes..."wow I can't believe I never realized that was why I was afraid as price got near my stop" etc... Like many things in life which seem easy or obvious, only after you go through much drama or read something deep does it click. This book is a MUST have for any serious investor/trader.

True, I think i am going to read it again though, Best part was the story on the Soy Beans. Tomorrow ima start to read on Technical Analysis, so far I read 3 books within a 72 hour period.

[mookie9920]

just got this book today! look forward to reading it

[MC]

It gets annoying so slice it up. Its VERY repetitive but for a reason.

[Boudreaux]

I loved the book. Valuable and life enhancing psychology even if you don't trade a cent.