Wished I had read this book first many, many years ago before I lost bucoo $$$$, but now I've learned the hard way. The book is also easy to read and hits home on many things regarding one's emotions. They do NOT belong in trading (unless you want to lose money).

Found that greed and fear were my 2 biggest enemies. I don't have specific examples to give you of what he talks about since I read the book awhile back, but this book is definitely worth reading again and again, just to remind yourself the market plays no favorites and doesn't care who you are.

Learning to get your emotions under control as a stock trader or investor is of greatest importance, if you want to make money.

You will need to find another book to generate trading ideas (your edge). This tome does a great job of discussing the "trading attitude". Douglas uses some odd imagery to describe how dearly a belief is held. He says that it has "energy" and then describes how physics states that energy cannot be destroyed. He lost me on that analogy, but the point he made is that we have unproductive beliefs that have to be neutralized by adopting productive beliefs and emphasizing them over those unproductive beliefs.

There are seven principles of consistency and five fundamental truths in trading presented here that are helpful to any trader review on an ongoing basis. If you are already successful then you may note that you have these beliefs already internalized. If you are new to trading these are invaluable because it can help you avoid the pitfalls that await you.

Also, a very easy and enjoyable read.

Kevin Gillespie

It will pay for itself many times over. The "Zone" is where it is at!!

Good Trades,
Yukoner