Good but redundant
What is it about?
Trading in the Zone (TITZ) is about the psychology of trading. It is widely considered as one of the "must reads".
The Good bits:
The salient points in TITZ are wholly relevant to anyone embarking upon, or intent on maintaining, a succesful career in the role of speculator. The author succesfully described the various flaws in thinking that can work against a trader and cause him to act in a manner at odds with his objective.
The Bad bits:
TITZ contains one or two key points. The delivery of these two points, however, is pretty dreadful. The important points that he does make are repeated again and again and again. It beggars belief.
At one point, Mr. Douglass draws a parallel between human tears, negative emotion... and Mr Douglas argues that tears are made of negative ions. I kid you not.
Review:
Do not get me wrong: TITZ is worth buying and reading. There are legitimate points and suggestions that any trader would do well to consider.
On the other hand, the arena for this type of trading book has changed since its publication. Other books exist that address the issues contained within TITZ: not only are they more comprehensive, but the better ones suggest action plans and techniques that are immediately applicable.
TITZ is not a panacea. Read it for good measure, but other books are better.
