Question:
I read your profile bio. You mentioned you read a book (A Memorable Month). Would you be so kind in telling me which book it was that you felt was so empowering, as I am at the beginning of my trading journey and would like to make sure I read and learn from good quality sources of information?
Dilip from Bookville
Answer:
Dilip, the name of the book is Trading in the Zone, and the author is Mark Douglas. The fundamental point of the book is that successful trading is less about the markets and more about you and your mental/emotional state.
The reason I searched out this book is that my losses were exceeding my gains early in my budding trading life. I needed to change that, but I did not know how. As I am now suggesting this book to you, my mentor suggested it to me. After reading it, I understood that one big reason my losses were exceeding my gains was my mental/emotional state. I didn’t view it this way then, but the excitement of trading made it more of a game than a business. This is a key point to developing the appropriate mental/emotional state – a successful trader views trading as a business, not as a game. I was gambling far more than necessary in my trading. I had no discipline, no plan, and no idea about to trade. The aforementioned book woke me up to this reality.
Reading Douglas’ book started me down the right path to learn how to trade, but a whole bunch more work waited along that path. The book is good, enlightening, and it speaks to a real truth not just in trading, but in life. Understand, though, it is just a beginning. After you read the book, this will be clearer to you, and, hopefully, you do the work necessary to get you where you want to go on the trading path.
Trade in the day; invest in your life …
