Trading in the Zone: Maximizing Performance with Focus and Discipline
$18.44
| Author(s) | |
|---|---|
| Pages |
240 |
| Format |
|
| Published Date |
2001 |
Trading in the Zone expands psychological strategies for successful trading and represents three more years of experience in working with a variety of traders on issues ranging from portfolio size and strategy to traditional coaching issues pertaining to performance, motivation, and recovery from failure.
Author’s Introduction:
Trading in the Zone can be read as a sequel to Trading to Win or on its own. I have sought to further develop some of the principles outlined in my previous book, I have also taken this opportunity to:
- Add a longer-term view to the trading strategies discussed.
- Examine more mistakes that traders can make.
- Review basic trading strategies and examine more complex strategies.
- Demonstrate additional ways to increase a trader’s psychological edge.
This book has been written not only to assist the professional trader but also the ordinary amateur trader and day trader as well. Taking into account the increasing use of the Internet for trading, the applications in this book can be of assistance to the home trader who trades once or twice a week as well as the career trader doing it every day. The relative ease of entry into day trading through Internet access to online brokerages, the easy access to stock market information, and the continuation of the biggest and longest bull market in history have set the stage for a lot of amateurs to get into trading.
Amateur traders may get hooked on trading because of a few quick and easy wins, much as people get hooked on gambling. Random wins and losses create an inconsistent pattern of reinforcement that is habit forming. They then begin to focus attention on finding winning stocks rather than on learning the process. They are also likely to eventually lose because they become anxious and unable to behave as flexibly as the successful trader.
Contents:
– Part One : Getting in the Zone
- Defining the Zone
- Overcoming the Past
- Using a Goal
– Part Two : Preparing for the Trade
- Gathering Information
- Understanding the Analysis
- Learning More
– Part Three : Controlling the Risk
- Managing the Risk
- Tolerating the Pain
– Part Four : Trading Consistently
- Learning from Your Mistakes
- Overcoming Psychological Obstacles
- Stepping Up to the Challenge
– Part Five : Using Advanced Strategies
- Taking Advantage of Capitulation
- Short Selling
Trading in the Zone: Maximizing Performance with Focus and Discipline By Ari Kiev PDF
8 reviews for Trading in the Zone: Maximizing Performance with Focus and Discipline
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Cal Acevedo (verified owner) –
Clearly and forcefully illustrates the mental discipline that will enable a stock trader to improve his performance.
Eugene Arellano (verified owner) –
I have been managing money for more than twenty years and I am happy to endorse Dr. Kiev’s principles, which have enhanced my performance and that of my traders over the past three years. Trading in the Zone will propel readers to the next level of trading success.
Emma Lim (verified owner) –
This book discusses the psychological considerations that serve to distinguish the most successful traders and portfolio managers from the majority of traders who are doomed to failure. Trading is so greatly influenced by emotions and discipline that not to have Ari’s insight and advice is a serious mistake
Haven Bennett (verified owner) –
Ari Kiev takes us inside the most successful trading firms of our time and shows us how those firms seek to improve performance through disciplined self analysis and structured goal management. His application of psychiatric tools to the short-term trading aspects of behavioral finance can give readers a competitive edge.
Kendra Moon (verified owner) –
Felt he could have made it half the length and stayed to more of his psychological point of view. When he goes into talking about trades its just common information vs earlier chapters
Kabir Cortez (verified owner) –
I really liked The Psychology of Risk and while a reviewer claimed that this was not Ari’s best book, I still expected a pretty good one. While The Psychology of Risk did take a meta view of trading, as all books on trading psychology need to, here Ari fancies himself as a trader and dishes out all sorts of trading advice that he has gleaned from his time spent with institutional traders. Ari’s trading knowledge is very limited though, as is his trading perspective, which he should have not shared with us. The actual psychology content isn’t all that great either.
It would likely be an awakening for him that people just don’t trade stocks, as that’s all he talks about, from the perspective of institutional stock traders actually, who trade mostly on fundamentals it seems, and Ari believes that fundamental analysis needs to play a significant role in all trading, which he actually tries to defend. My favorite line from the book though is “even professional traders have difficulty betting against a rising stock,” where short selling is therefore defined by him as betting against rising stocks. It seems he has trouble reconciling this against fundamental data.
It also seems that traders need to be willing to take on more risk in his mind, never mind the fact that taking on too much risk is the reason why almost all traders bust out, that’s another gem. There are plenty more, and our friend needs to take a more honest assessment of his trading expertise and stick to psychology, and also realize he’s speaking to the trading public at large and not his institutional clients with their traders and their particular quirks.
I’m still going to buy the other 2 books on here that I haven’t read though. I don’t need much to justify spending $40 on a book, a tidbit or two is enough to justify this as a good tidbit can add up to a lot of money over time for traders, but I can’t say I got anything from this book really, and I’m really hoping that these other books of his will be of a better quality.
Ashlynn Randolph (verified owner) –
Love I am learning to be a good trader becaus of this book.
Jericho Cain (verified owner) –
Very good material for building the mental framework necessary to maximize trading results. The author’s work with SAC provides a great lab to see trading psychology real time. Nice insight and very readable. Trading in the “Zone” is a place that is difficult for the beginner to understand, but it should be required reading before real money is at risk. It sure would have saved me money. From the introduction the material climbs in the traders head and speaks volumes about what it take to be a MASTER TRADER. This work, Ari Kiev’s Trading to Win and Douglas’ Trading in the Zone and The Disciplined Trader, along with Dr. Richard McCall’s The Way of the Warrior-Trader should be the required reading for anyone seeking to trade the financial markets.