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Thinking Like a Trader by Mike Douglas

The author of Thinking Like A Trader is a respected authority in the field of trading. He is an experienced author and has worked with money managers, hedge funds, and the world s largest floor traders. He received several awards for his work and was also a co-author of two books, The Complete Trader and The Little Book of Trading Performance. While he never made it big in trading himself, he coached traders and wrote books to help others improve their trading habits.

In his book, Douglas teaches traders how to analyze markets and earn profits. He emphasizes that wins and losses are not predictable. An edge is a higher probability but it never assures a win. This is primarily because every trading opportunity is different. Traders must learn to become more informed than the market. To be a successful trader, you must develop your mental game. Only then can you truly become a profitable trader.

Douglas provides valuable information for avoiding emotional trading mistakes. Trading in the Zone examines psychological traits that make successful traders successful. It also provides practical strategies for controlling emotional responses in trading. While this book should not replace a trading strategy, it will help you reduce your losses and gain confidence in your ability to trade in the market. But, as with any other book, it should never replace a trading strategy. It is essential to follow your trading plan in order to achieve success in the forex market.

In Forex trading, emotion is often a hindrance. The author teaches Martin Sheen not to get emotional when buying or selling stocks. In fact, some traders make decisions based on the good feeling they get from a stock. Sometimes, the market moves against them, but the good feeling helps them stay in the trade and hold out. Sometimes, the market turns around. When this happens, it is essential to have a plan before entering a trade.

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