The Disciplined Trader Book Review

The Disciplined Trader by Mark Douglas, MD will provide you with an understanding of the mental map every successful trader applies to trading price, as well as a list of avoidable mistakes designed to heal your trading account and your trading perspective (perform your own frontal lobotomy) after you've had a string of losses (and you will).

The number one reason that I like The Disciplined Trader is that Mark Douglas has no formal training in psychology. Rather, Douglas was trained in the only classroom that matters-the battlefield of actual trading. Even though this book was published in 1990 and there have been a plethora of trading-psychology books published since then, Douglas' material stands out has an innovative classic. He just uses his own gift for seeing the mental shortcomings of the losing trader and spells out his own fresh insights on what we, as traders, need to do to experience real success in trading.