Periodically, Benzinga will feature reviews of famous trading and investing books on our Youtube channel. The first book reviewed in this series is "Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude" by Mark Douglas.
Why do traders struggle?
This is the central question Mark Douglas asks in "Trading in the Zone.' Since its publication in 2000, "Trading in the Zone" has been lauded as one of the top trading books, specifically when it comes to the psychological component of trading.
According to Douglas, it all comes down to mindset. Most traders fail, he says, because we are accustomed to having a direct path to success. Study hard, you'll get good grades. Work hard, you'll get promoted.
But no such path exists in trading. This is the paradox of trading, and the reason most new traders fail.
Advice offered by Douglas includes how to change your mindset to think about mistakes, how to accept risk in your trades, and how to deal with the fear of failure.
The Benzinga Book Club is hosted by Alex Bustos of B The Trader. Watch the video below.
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