The Disciplined Trader

by Mark Douglas
The Disciplined Trader cover
Good Books rating 4.05
Psychology and Human Behavior
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  • ID: 9212
  • Added: 2025-12-23
  • Updated: 2025-12-24
  • ISBN: 9780132157575
  • Publisher: Prentice Hall Press
  • Published: 1990-04-01
  • Reviews: 4

The Disciplined Trader is a groundbreaking book that introduces the investment industry to the concept of trading psychology. Author Mark Douglas draws on his extensive commodity trading experience to reveal how societal mental functions can become psychological barriers in trading. The book guides readers through a thorough mental housecleaning to eliminate losing attitudes and develop winning behaviors. It provides a systematic, step-by-step approach to achieving consistent trading success, helping readers join the elite few who consistently profit from the market. /n/n Divided into three parts, the book covers the psychological requirements of trading, defines the challenges of becoming a successful trader, and offers insights into changing behavior and building a framework for success. Douglas emphasizes the importance of developing specific trading skills based on a clear, objective perspective on market action. This book is a must-read for anyone looking to transcend psychological obstacles and achieve long-term success in trading.

Reviews
TraderLion · 2025-05-14
insightful 4.50

The book delves into the psychological traps that often derail traders, such as fear, denial, revenge, and the illusion of control. It provides valuable insights into the mindset required for successful trading.

This book is a deep dive into the psychological aspects of trading, highlighting the common pitfalls that traders face. It's not just about the technicalities of trading but also about understanding the mental game. The author does an excellent job of breaking down complex psychological concepts into easily digestible insights. If you're looking to improve your trading performance, this book is a must-read as it provides a roadmap to developing a winning attitude.

Quick quotes

    This book dives deep into the psychological traps that derail traders, fear, denial, revenge, and the illusion of control.

    It provides valuable insights into the mindset required for successful trading.

    The author does an excellent job of breaking down complex psychological concepts into easily digestible insights.

TraderMarkus · 2022-11-18
practical 4.00

The book emphasizes the impact of psychology on trading success or failure, making it a valuable read for anyone interested in understanding the mental aspects of trading.

This review highlights how the book is a treasure trove of information on the psychological impact on trading. It's not just about the strategies and techniques but also about the mindset that can make or break a trader. The author's insights are practical and can be applied to real-world trading scenarios. Whether you're a beginner or an experienced trader, this book offers something valuable for everyone. It's a comprehensive guide to understanding the psychological barriers that often hinder consistent profitability.

Quick quotes

    So it's definitely well worth to read the whole book if you're interested in understanding how psychology really impacts the success or failure.

    The book emphasizes the impact of psychology on trading success or failure.

    It's a comprehensive guide to understanding the psychological barriers that often hinder consistent profitability.

Financial Independence Hub · 2021-03-11
practical 4.20

The book identifies three main reasons why most traders fail: lack of skills, limiting beliefs, and psychological barriers. It provides a roadmap to overcoming these challenges.

This review provides a concise overview of the book's main points, focusing on the three primary reasons why traders fail. It's a practical guide that offers actionable advice on how to overcome these challenges. The author's insights are based on years of experience and research, making it a reliable source of information. Whether you're a novice or an experienced trader, this book offers valuable lessons that can help you improve your trading performance. It's a must-read for anyone looking to achieve financial independence through trading.

Quick quotes

    Unsuccessful traders — that would be most of us! — fail for three main types of reasons, Douglas writes: lack of skills, limiting beliefs and ...

    It provides a roadmap to overcoming these challenges.

    The author's insights are based on years of experience and research, making it a reliable source of information.

Goodreads · 1990-04-01
insightful 3.50

The book is praised for its unique focus on the psychological aspects of trading, offering valuable insights into the mindset of successful traders. However, some readers find the content repetitive and not as practical as they had hoped.

This book stands out for its groundbreaking exploration of trading psychology, providing readers with a deeper understanding of how successful traders think and behave. The insights shared are highly regarded, especially for those looking to improve their trading discipline. However, some readers feel that the book tends to repeat certain points excessively, which can make the reading experience less engaging. Despite this, the core message about the importance of psychological discipline in trading is well-received.

Quick quotes

    One of the first books to address the psychological nature of how successful traders think.

    Offers rare insight from an expert in the dynamics of trading psychology.

    Shows why most traders cannot raise and keep their equity on a consistent basis.

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