The Disciplined Trader™
Considered as an industry classic, The Disciplined Trader is one of the first books to address the psychological nature of how successful traders think. Author Mark Douglas provided insights by developing a systematic, step-by-step approach to winning week after week, month after month, whether you’re new to the markets, returning to the markets, or veteran traders. Douglas helps traders transform the fear of losing, into a mindset of winning, through his systematic approach to creating, instilling, and maintaining the mindset of a consistently successful trader. The Disciplined Trader discusses why most traders cannot raise and keep their equity on a consistent basis, and brings the readers to practical and unique conclusions as to how to go about changing any limiting mindset.
The book is divided into four parts:
- An overview of the psychological requirements of the trading environment
- A definition of the problems and challenges of becoming a successful trader
- Basic insights into what behavior may need to be changed, and how to build a framework for accomplishing this goal
- How to develop specific trading skills based on a clear, objective perspective on market action
Table of Contents
Part I: Introductions
1. Why I Wrote this Book
2. Why a New Thinking Methodology?
Part II: The Nature of a Trading Environment from a Psychological Perspective
3. The Market is Always Right
4. There is Unlimited Potential for Profit and Loss
5. Prices are in Perpetual Motion with No Defined Beginning or Ending
6. The Market is an Unstructured Environment
7. In the Market Environment, Reasons are Irrelevant
8. The Three Stages to Becoming a Successful Trader
Part III: Building a Framework for Understanding
9. Understanding the Nature of the Mental Environment
10. How Memories, Associations, and Beliefs Manage Environmental Information
11. Why We Need to Learn How to Adapt
12. The Dynamics of Goal Achievement
13. Managing Mental Energy
14. Techniques for Effecting Change
Part IV: How to Become a Disciplined Trader
15. The Psychology of Price Movement
16. The Steps to Success
17. A Final Note