Trading in the Zone : Maximizing Performance with Focus and Discipline
- ISBN13: 9780471379089
- Condition: New
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Overcome the obstacles that can prevent you from winning at the trading gameA trader’s emotional state is vital to being a successful investor. There are many psychological factors that can affect the decisions one makes in the course of a trading day. This book focuses on overcoming issues such as anxiety, fear, and over-ambition so that traders can become more focused and be more successful-in other words, enter the zone-and stay in it as long as possible.
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Much overrated!,
I had read Douglas’s Trading in the Zone before. I had a very high expectation on this one. However, I was very disappointed.
The author emphasized throughout the book the importance of entering the zone, a state of mind that you can neglect fear, greed, P/L, and just trade according to your feeling of the market, though he supplemented that with the need of analysis, hardwork, focus blah blah blah, and that different people have different means to enter the zone, illustrated with examples anonymous. Those might be true stories. However, the author just did not tell the readers how they could do it themselves without the assistance of a coach like the author’s good self.
A reviewer of this book wrote that this should be read together with Douglas’s Trading in the Zone and Mc Call’s The Way of the Warrior Trader. One should read those two excellent books only, but definitely not this.
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|Not his best…,
I personally admire Dr. Kiev’s work and contribution to daily psychology. However I would suggest any trader – or any other person, for that matter – to read and apply the ideas in his ” Daily Living Strategy”. His goal-based approach is what I live on, and I certainly understand the positive comments made by his clients, but I think the reviews are concerning the book + the counselling they took personally from Dr. Kiev. By itself, the book is not complete. It is helpful, and it certainly adresses several important issues, but it doesn’t go deep. Also, it is a product of Dr. Kiev’s work with the professional traders working in huge trading firms or departments, and as such, addresses the problems and solutions that can be found in such settings. Even the trading methodology Dr. Kiev seems to advocate sounds very institutional: he is talking about how to get real info from analysts that call you up. Well, being a full time trader who strikes on his own, that didn’t help me. Again I recommend buyiing his now-classic book, the Daily Living Strategy, and apply it to whatever it is you want to achieve in your life.
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|Inspirational and Insightful,
One of the most essential, yet least discussed, topics when it comes to trading is market psychology. While fundamentals and technicals are both critical in developing an understanding of a company and its inherent value, trading psychology is the processor of this information and the true measure of success and profitability. People who wish to excel in trading must have a firm grasp on their emotions to prevent them from falling victim to the same mistakes that dominate most traders. In his latest book, Dr. Kiev presents a much richer discussion of what it means to be trading “in the zone”, including how to get there and how to stay there. He also expands upon some of the topics presented in his previous book, providing more detailed information as to the psychological forces at work behind the mask of fundamental and/or technical information. For an emotional trader like myself, it’s reassuring to know that I am not in the investing minority and that, with work, I can overcome these self-inflicted barriers to success to achieve my personal and professional goals.
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