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Mark Douglas, the author of 'Trading in the zone', has passed away.
He lived a good and fruitful life.
R.I.P
http://www.markdouglas.com/
He lived a good and fruitful life.
R.I.P
http://www.markdouglas.com/
Mark Douglas is a name and Trading in the Zone is a book that every trader should know and read.
Here's a tribute written by Darrel Martin,
RIP Mark Douglas and Thank you for sharing your wisdom.
Reflecting On The Depth Of What Mark Douglas Taught Traders
Darrell Martin
I was left speechless and took pause, followed by some moments of reflection, when I heard one of our greats had passed. Mark Douglas, 67, author of The Disciplined Trader and Trading In The Zone passed away this last weekend, the middle of September 2015, at his home in Scottsdale, Arizona.
It's an understatement to say that Mr. Douglas touched many a trader’s lives with his books, seminars and company, Trading Behavior Dynamics, Inc. In an enlightening and inspirational way, he forced us to confront what eludes many of us, sometimes for a lifetime, and that is, how well do you know yourself and confront it to improve your trading.
In his renowned book, Trading In The Zone, we learn that it’s not so much about how well you know the markets or how to read them, it’s more about how well you read yourself while trading. Like Dale Carnegie is considered a founder of self-motivational growth, Mr. Douglas is considered the master of teaching traders how to develop the confidence, discipline and right state of mind to be successful in trading.
He has changed countless lives by helping traders learn to take an honest look in the mirror and into mirrors that they did not even know existed. He will be missed but his influence will continue.
Mr. Douglas brought to light how imperative it is not to be preoccupied with avoiding pain from loss and/or to get sucked into the euphoria of winning and how both of those will only distract you from your purpose.
“Ninety-five percent of the trading errors you are likely to make—causing the money to just evaporate before your eyes—will stem from your attitudes about being wrong, losing money, missing out, and leaving money on the table. What I call the four primary trading fears.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
He described your true purpose as believing you are a “consistently successful trader”. He succinctly broke down the mental framework that hinders you and holds you back.
“If there is such a thing as a secret to the nature of trading, this is it: At the very core of one’s ability 1) to trade without fear or overconfidence, 2) perceive what the market is offering from its perspective, 3) stay completely focused in the “now moment opportunity flow,” and 4) spontaneously enter the “zone,” it is a strong virtually unshakeable belief in an uncertain outcome with an edge in your favor.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
Mr. Douglas then showed you how to build your mental strength and acuity toward that belief.
“I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors. 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
Once the trader is successful at being consistent, Douglas described your success as more than just financial but also with the freedom to increase it or have it at will.
“For those who have learned how to be consistent, or have broken through what I call the “threshold of consistency,” the money is not only within their grasp; they can virtually take it at will. I’m sure that some will find this statement shocking or difficult to believe, but it is true. There are some limitations, but for the most part, money flows into the accounts of these traders with such ease and effortlessness that it literally boggles most people’s minds.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
If you have not read his books, Trading In The Zone and The Disciplined Trader, they are essential reads for any trader. Paula T. Webb, his wife, business partner and an accomplished author, mentor and developer for training programs in her own right, will continue his legacy. Mark, Thank you for all you have done to help traders!
Source: Mark Douglas tribute
Here's a tribute written by Darrel Martin,
RIP Mark Douglas and Thank you for sharing your wisdom.
Reflecting On The Depth Of What Mark Douglas Taught Traders
Darrell Martin
I was left speechless and took pause, followed by some moments of reflection, when I heard one of our greats had passed. Mark Douglas, 67, author of The Disciplined Trader and Trading In The Zone passed away this last weekend, the middle of September 2015, at his home in Scottsdale, Arizona.
It's an understatement to say that Mr. Douglas touched many a trader’s lives with his books, seminars and company, Trading Behavior Dynamics, Inc. In an enlightening and inspirational way, he forced us to confront what eludes many of us, sometimes for a lifetime, and that is, how well do you know yourself and confront it to improve your trading.
In his renowned book, Trading In The Zone, we learn that it’s not so much about how well you know the markets or how to read them, it’s more about how well you read yourself while trading. Like Dale Carnegie is considered a founder of self-motivational growth, Mr. Douglas is considered the master of teaching traders how to develop the confidence, discipline and right state of mind to be successful in trading.
He has changed countless lives by helping traders learn to take an honest look in the mirror and into mirrors that they did not even know existed. He will be missed but his influence will continue.
Mr. Douglas brought to light how imperative it is not to be preoccupied with avoiding pain from loss and/or to get sucked into the euphoria of winning and how both of those will only distract you from your purpose.
“Ninety-five percent of the trading errors you are likely to make—causing the money to just evaporate before your eyes—will stem from your attitudes about being wrong, losing money, missing out, and leaving money on the table. What I call the four primary trading fears.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
He described your true purpose as believing you are a “consistently successful trader”. He succinctly broke down the mental framework that hinders you and holds you back.
“If there is such a thing as a secret to the nature of trading, this is it: At the very core of one’s ability 1) to trade without fear or overconfidence, 2) perceive what the market is offering from its perspective, 3) stay completely focused in the “now moment opportunity flow,” and 4) spontaneously enter the “zone,” it is a strong virtually unshakeable belief in an uncertain outcome with an edge in your favor.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
Mr. Douglas then showed you how to build your mental strength and acuity toward that belief.
“I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors. 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
Once the trader is successful at being consistent, Douglas described your success as more than just financial but also with the freedom to increase it or have it at will.
“For those who have learned how to be consistent, or have broken through what I call the “threshold of consistency,” the money is not only within their grasp; they can virtually take it at will. I’m sure that some will find this statement shocking or difficult to believe, but it is true. There are some limitations, but for the most part, money flows into the accounts of these traders with such ease and effortlessness that it literally boggles most people’s minds.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
If you have not read his books, Trading In The Zone and The Disciplined Trader, they are essential reads for any trader. Paula T. Webb, his wife, business partner and an accomplished author, mentor and developer for training programs in her own right, will continue his legacy. Mark, Thank you for all you have done to help traders!
Source: Mark Douglas tribute
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