Douglas, president of the seminar firm Trading Behavior Dynamics, focuses on the psychology of successful traders. Instead of offering specific strategies, he advises readers, "The first step on the road...is to understand and completely accept the psychological realities of trading." It may be too abstract for some, but given trading's risks, this book could assist experienced investors willing to engage in self-reflection.
Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.
Mark Douglas is also author of "The Disciplined Trader™-Developing Winning Attitudes" published in 1990 and considered an industry classic ~ and one of the first books to introduce the investment industry to the concept of trading psychology. Mark began coaching traders in 1982, and has continued to develop seminar and training programs on trading psychology for the investment industry, as well as individual traders. He has been a frequent speaker at seminars across the world, as well as in the U.S., teaching traders how to become consistently successful. He is currently working on his third book, and can be reached through his website markdouglas.com