Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

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Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money.  He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.
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About the author

Mark Douglas is also author of "The Disciplined Trader™:Developing Winning Attitudes" published in 1990 and considered an industry classic--and one of the first books to introduce the investment industry to the concept of trading psychology. Mark began coaching traders in 1982, and has continued to develop seminar and training programs on trading psychology for the investment industry, as well as individual traders.  He has been a frequent speaker at seminars across the world, as well as in the U.S., teaching traders how to become consistently successful.  He is currently working on his third book, and can be reached through his website markdouglas.com.
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Additional Information

Publisher
Penguin
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Published on
Jan 1, 2001
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Pages
240
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ISBN
9781440625411
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Language
English
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Genres
Business & Economics / Development / Business Development
Business & Economics / Investments & Securities / Stocks
Business & Economics / Personal Finance / Investing
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Content Protection
This content is DRM protected.
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Eligible for Family Library

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Nora-Gaye and I lived this story, beginning when we thought about buying an RV park and living in it. We ended up in our own RV park for for more than nine years. What we relate here is how she got started,what we decided, saw, felt, learned, tried, "kicked tires", tested, and finally bought an RV Park in Apopka FL in 2002. It was a fixer-upper---Oh, how it was a fixer-upper!

The first thing we did was to device a testing system for every RV park we thought was interesting. Checking on the internet, we narrowed down the search to the Southeast US. Even then, we narrowed it down further to about a dozen RV parks that were fixer-uppers. It did not take long---after we started traveling in our own RV---to see what these parks were about.

Of parks in Mississippi, Georgia, Tennessee, and North Carolina, only the one in Georgia was a great park. Unfortunately, it was also one off the beaten path. Finally, we dropped into Florida and inspected a few. One was absolutely the greatest we had seen. However, the owner insisted on a cash only basis without telling us his income.

Eventually, we came to an Over 55 park in Apopka, Florida. It was rundown. The only people coming there were old folks from the northland, Snowbirds, who came for the winter. Driving around the ten acre park, we were not impressed, even as a fixer-upper. However, nothing else was available and we came back in January to stay. In April, we made an offer, accepted right away, and we began planning.

Literally everything had to be rebuilt to 2002 standards! The burgeoning RV industry that was changing all the previous rules. We have included our personal interests as well as the agonizing methods of rebuilding to park. Ours, renamed Orange Blossom RV Resort, would be a Family Park. That would include swings, monkey bars, and other children's delights, as well as adult delights. The swimming pool had to be rebuilt before it was acceptable by the FL Dept of Health, for use. The rebuilding process included the bathrooms, the streets, the RV sites for back-in and pull-thru; realigning all the sites for ease of pull in and out. The streets were repave to a smooth texture.

Meanwhile, we learned about financial responsibility with a variety of online applications.

Once we established our new park, we encouraged trips to many historical sites around middle Florida. This was in addition to the many great delights, such as Disney World ands Universal Studios, not to mention several others.

Included herein are many tips for anyone who desires to build or buy an existing RV Park. Several Warnings are spelled out for the unwary. But, listen, there are many humorous stories that you, too, would fall into. Read on, learn, and enjoy.

The essential guide to launching a successful career in trading—updated for today’s turbulent markets

“Mastering the Trade is an excellent source for a basic understanding of market action, be it day and/or longer-term trend trading. A programmer will have a field day with the many ideas that are in this book. It is highly recommended.”
—John Hill, president of Futures Truth magazine

“John Carter’s new book focuses quickly on the critical area of trader psychology, a realm that will often separate the trader from his wallet if it is not mastered first. The in-depth trading strategies clearly show how to respond to market moves based on real-world examples.”
—Price Headley, founder of BigTrends.com and author of Big Trends in Trading

“Well written and packed with the kind of insight about the nature of trading and the markets that can surely benefit every level of trader.”
—Mark Douglas, author of Trading in the Zone and The Disciplined Trader

“This is a must read for all new traders, specifically for the psychological aspect of trading. I am recommending it to all of my clients.”
—Carolyn Boroden, FibonacciQueen.com

About the Book:

When it was first published in 2005, Mastering the Trade became an instant classic in the world of day trading. Now, veteran day trader and educator John F. Carter has updated his time-proven swing trading technique to help you succeed in an environment vastly transformed by volatility and technology.

Universally acclaimed for its sophisticated yet easy-to-execute methods, this practical, results-driven guide provides everything you need to make a lucrative career as a day trader—from preparing yourself psychologically for the unique demands of day trading to timing the market, managing risk, and planning future trades.

Mastering the Trade sets aside timeworn basics and rehashed ideas to examine in detail the underlying factors that cause prices to move. Providing the tools you need to make the right decisions at the right times, it helps you enter market shifts early and either pull out before losses accrue or hang on for a long and refreshingly predictable ride. Mastering the Trade covers:

The five psychological truths that will transform you from a mistake-prone novice into a savvy trading professional Exact entry, exit, and stop-loss levels for the intraday trading of stocks, options, ETFs, e-mini futures, 30-year bonds, currencies, and more Seven key internals, from $TICKS to five-minute volume—critical for gauging pending market direction from the opening bell Premarket checklists for analyzing recent market behavior and calculating on each trading day what you plan to do, how you plan to do it, and why Airtight risk control techniques for protecting trading capital—the most important component of a professional trading career

After spending many years on various trading desks, Carter has developed an intuitive understanding of how the markets work. In Mastering the Trade, he gives you unlimited access to everything the markets have taught him—so you can make an exceptional living on the frontlines of professional trading.

The world's top trader's reveal the secrets of theirphenomenal success!

 How do the world's most successful traders amass tens,hundreds of millions of dollars a year? Are they masters of anoccult knowledge, lucky winners in a random market lottery,natural-born virtuosi—Mozarts of the markets? In search of ananswer, bestselling author Jack D. Schwager interviewed dozens oftop traders across most financial markets. While their responsesdiffered in the details, all of them could be boiled down to thesame essential formula: solid methodology + proper mental attitude= trading success. In Market Wizards Schwager lets you hear,in their own words, what those super-traders had to say about theirunprecedented successes, and he distils their responses down into aset of guiding principles you can use to become a trading star inyour own right. 

Features interviews with superstar money-makers including BruceKovner, Richard Dennis, Paul Tudor Jones, Michel Steinhardt, EdSeykota, Marty Schwartz, Tom Baldwin, and moreTells the true stories behind sensational trading coups,including the one about the trader who turned $30,000 into $80million, the hedge fund manager who's averaged 30% returns everyyear for the past twenty-one years, and the T-bond futures traderwho parlayed $25,000 into $2 billion in a single day!

"Market Wizards is one of the most fascinating books everwritten about Wall Street. A few of the 'Wizards' are myfriends—and Jack Schwager has nailed their modus operandi onthe head."
--Martin W. Zweig, Ph.D., Editor, The Zweig Forecast

As planned, military action in the U. S. Commonwealth of the Philippine Isles would be in consonance with the 1935 U. S. WAR PLAN ORANGE, Revision 3 (WPO-3). When war threatened in the Pacific theater, WPO-3 was amended in 1941 as a result of the Placentia Bay, Argentia, Newfoundland meeting between United States President Franklin Roosevelt and Great Britain Prime Minister Winston Churchill, and their respective War Staffs. This revision, renamed RAINBOW 5, included military and naval forces of Australia, Great Britain, The Netherlands (Dutch), and the United States (America) (ABDA) in a mutual defense pact. War Plan Rainbow 5 provided detailed, precise instructions the U.S. Army and U.S. Navy in the Pacific Theater would execute in the event of hostilities with Japan. If it appeared hostilities were imminent, the President of the United States, Commander-in-Chief of all U. S. military and naval forces, would order execution of Phase One, RAINBOW 5. Phase One explicitly ordered the U.S. Army Air Force (FEAF), headquartered at Nielson Field, Manila, subordinate to the U.S. Army Far East Command (USAFFE), The Philippines, to send one Boeing B-17D Flying Fortress on a high altitude photo-reconnaissance mission over Japanese military targets in and around the island of Formosa. At the same time, the U.S. Navy Asiatic Fleet, except submarines, gunboats, PT boats, harbor vessels, and shore command, would depart for agreed upon ports in Java, Borneo, Celebes, and Singapore. (The U.S. Army Air Force was created on June 20, 1941, but elements of the U.S. Army Air Corps remained intact until 1947 when both USAAF and USAAC were abolished and the U.S. Air Force (USAF) was born. I decided to use USAAF throughout this book.)
It has long been discussed as to what happened in the few days before the Japanese Imperial Army Air Force and the Navy Air Armada, struck all across the Pacific beginning on December 7th, 1941, on Oahu, Pearl Harbor, and destroyed much of the American Pacific Fleet.

What is really intriguing is, there were several warnings the Japanese were about to strike somewhere in the Pacific, from both the Navy Chief of Naval Operations (who were reading some of the Japanese secret radio messages) and the War Department Chief of Staff (who were also reading some of the Japanese secret codes). As it turned out, the Navy spooks were also reading the Japanese Diplomatic code and learned the Japanese were about to strike---somewhere.

CNO and Army Chief of Staff had send three war warnings to all commands in the Pacific. At Cavity Naval Base, Com16 Naval District became preparing for war. Admiral Thomas Hart issued orders to his fleet of bedraggled WW-1 ships, to move away. He also issued orders to his submarine fleet to be prepared to attack all enemy shipping. He declared an emergency and placed his command on a war footing. He advised MacArthur's headquarters of his actions. MacArthur called him a sniveling coward afraid to face the enemy. Hart ignored him and proceeded with his plan.

MacArthur's plan was to proceed as though nothing would happen. All staff operations will continue peacetime processes. No special round the clock observations were necessary or tolerated. Standard communications shut down at 1700 hours daily, except fully closed on Sunday, would continue as Standard Operating Procedure.

President Queson who was paying MacArthur to build his Armed Forces, was alarmed the Japanese would destroy his country. In close consultation in November '41, President Queson impressed upon his military advisor he did not want to anger the Japanese War Lords. "Take no offensive or defensive action until the first bomb strikes Philippine soil!"

On December 3rd, President Roosevelt issued an execution order: "Phase 1." As seen, Admiral Hart had already begun preparing for war.

When Phase 1 was issued by the President, General MacArthur, recently recalled to active duty as a Lt. Gen., was ordered to send at least one B-17 Flying Fortress on a Photo-Recon mission over the Japanese air and sea bases on Formosa. He declined to follow his orders. He ordered all his B-17's stationed at Clark Air Base, be lined up, wing to wing next to the runway.

On December 7th, 0755 hours (0235 hours in Manila), when Pearl Harbor was struck, President Roosevelt quickly ordered Phase 2: that is, send 18 B-17's with full bomb loads to take out the Japanese air drones and sea ports. MacArthur refused to do that. At 0430 hours Manila time, he ordered his Air Commander to stand down. He was to take no action until the first bomb strikes Philippine soil!

The Japanese Air Fleets began arriving over the Philippine island of Luzon about 1100 hours on December 8, Manila time.

By LtGen MacArthur's deliberate inaction, thousands of people on both sides were killed.

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