The Disciplined Trader

The Disciplined Trader

Mark Douglas
Jan 1, 1990
The Disciplined Trader helps you join the elite few who have learned how to control their trading behaviour (the few traders who consistently take the greatest percentage of profits out of the market) by developing a systematic, step-by-step approach for winning week after week, month after month.

The Disciplined Trader is divided into four parts:

- An overview of the psychological requirements of the trading environment

- A definition of the problems and challenges of becoming a successful trader

- Basic insights into what behaviour may need to be changes, and how to build a framework for accomplishing this goal

- How to develop specific trading skills based on a clear, objective perspective on market action

In a comprehensive and logical manager, Mark Douglas shows you how to examine and limit your trading behaviour - how to develop the mental discipline possessed by the small minority of winners who make money consistently (weekly, monthly, and yearly).

Some of the skills focused on in 'The Disciplined Trader' include: learning the positive dynamics of achieving goals ... recognising skills needed to progress as a trader (and how to stay aware of them instead of just the by-product - the money acquired) ... adapting yourself to respond to fundamental market changes ... identifying your 'risk comfort level' and learning how to expand it .. acting immediately on opportunities ... letting the market tell you how much is enough ... controlling your perspective of market movement ... and much more.
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Latest reviews

Good book.

He has a video series that is just as good which covers all the topic with examples. I also prefer the face to face
Traders book

This is a real classic, and excellent book begginers and veteran traders alike. I great work to learn about the traders mind.
Worth your time.

This is a brilliant book for anybody wanting to sharpen their discipline in the markets. Even if you're a seasoned trader it's a worth while read.

First off let me assure you that Mark Douglas deserves all the generally positive reviews he's received for this book and for "Trading in the Zone." What Douglas has to share is essential, extremely valuable information for both aspiring and veteran traders alike. That said, stand warned that Mr. Douglas has quite a tedious writing style. He suffers (and thereby, so does the reader) from a particularly diffuse, circular, and repetitive style. He gives redundant a bad name. Here's a sample, you be the judge:

"Our committed expectations about the future will act as a force on our perception of market information to control its flow into our mental system in such a way as to avoid a confrontation with anything that doesn't conform with what we already believe is possible." Got that? Then this book is for you.

You don't have to worry about picking between The Disciplined Trader, and Trading in the Zone - Mr. Douglas is so repetitive that he essentially wrote the same book twice. Material from each book is either reprinted verbatim or repeated in a slightly different way in the other.

In fairness, Douglas is struggling to convey some very complex psychological concepts which don't easily distill down to catchy one-liners. Still, for all of his good things to say, Mr. Douglas would only benefit from a good editor.

Stick with it though - the keys to success are buried within. And then re-encrypted over and over.
Are you comfortable taking a loss? If not read this book!

I read this book and realised why so many fail,because we are actually psychologically set up to fail at trading and this book will tell you why.

It won't give you the trade set ups but when you have read the book you realise thats actually only part of what you need to succeed.

A must read for any serious trader imo.
A must for all traders to get that mindset right.

An excellent read eventhough old, but gives you that part of the traning that most newbies (and experienced traders that need a reality check on their trading methods). As its a little old, it may not flow as them more simplified books are but non the less a very valuble read.
If you are a serious trader then this book is on your desk!

Mark Douglas's work is what laid the ground work for me mentally. Couldn't trade without it.
a real psychology book

not light reading matter, definately not a pillow companion or bog book. This tome will help you improve and understand your mindset in relation to your trading and emotional cycle. I come back and re-read certian parts of this book fairly regularly - definately one for your library if you are a discretionary trader.
The Disciplined Trader

I think this book is a modern classic for traders.

It offers deep and thought provoking insights that will improve a traders psychological view of the markets.

It does not offer 'light fluffy' psychobabble but reasoned methods to improve trading performance.

A book that can picked and used as a reference when anxiety surfaces.

A great book to learn about the traders mind - would be a great, great help if we didn't have the software available today. However not so relevant with Tradestation and Metastock about, which take the phsycology of you. Would not recommend, however very interesting to learn about the human mind