The Disciplined Trader: Developing Winning Attitudes

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Basic insights into what behavior may need to be changed, and how to build a framework for accomplishing this goal Mark Douglas is an American author and trader who wrote The Disciplined Trader: Developing Winning Attitudes. The book was first published in 1990 and has become a widely popular trading guide, with many traders citing it as helping them to develop the proper mindset for success in trading. This mental training session will help you gravitate towards A trades and A+ trades and help you exercise the patience to wait for those high probability setups to occur. Learn to wait for these great trade setups with high reward potential and low risk potential, triggered by high probability setups–and you’ll gain an A+ profit. The book was recommended by a trader I respect, however I find the writing so bad--repetitive, confusing, pointless sentences, actually, entire chapters that are gibberish--that I don't understand what the trader saw in this book. I find myself talking to the author saying "really, this is the best that you can do?". A friend told me that the entire book is captured in the last two chapters. I'm going to skip the rest of the books and see if he was right. It’s a private endeavor that will improve your trading results tenfold if you practice self-honesty.

The Disciplined Trader: Developing Winning Attitudes - Goodreads

No matter your current level, you’ll forever be a student in this business, be it day trading, swing trading or position trading. Thinking this way permits continual progression, keeping you one step ahead of the competition and bound for top-trader status.In this module, you’ll also find an interview I did with former floor trader and current owner of INO.com, Adam Hewison. I quiz him on his personal take on how to stay disciplined. It is short but very enlightening. You’ll also find the written transcript in the module. If you glance at the contents of this module, you’ll see your next subconscious training and matching affirmation training which I titled, “Trading To Make Money.” You see, it is imperative that you frame your trading as a business in which you operate to make a profit. Second, I wanted to share state-of-the-art strategies related to risk and money management, including how to define the appropriate levels of risk, how to handle position sizing, how to use volatility based stops, and how to prevent account blow-ups. Each of the Core Modules teaches you how to overcome the most perplexing mental and emotional challenges for traders–one challenge at a time.

The Disciplined Trader

Although Douglas sadly passed away in 2015, his work continues to inspire traders around the world. I’ve also included in this module my eBook titled, “How To Design and Construct A Successful Trading Plan.” Again, what good is having a great disciplined regime if you don’t have a trustworthy trading plan to follow? If you can’t pull the trigger when your trading plan commands you to do so, then you miss trades, chase trades, and lose control. It’s okay to be emotional; it’s not okay to let emotion change your management of risk’. ‘The Disciplined Trader’ by Mark Douglas (1990)A must-read classic for all investors, whether brand-new or experienced’ – William O’Neil, founder and Chairman, Investor’s Business Daily. Now we’re moving into Session 3 of your Basics Series. You’ll have the basics of building and running your trading plan under your belt by now. So now, it’s time to do your all-important introspection. Remember, this is one of the most important sessions and deserves special attention. So, listen carefully and take lots of notes! But before I do, make sure you stay with me until the end of this presentation, because I have a special deal for you that I think you’re going to like.