Mark Douglas: Mind over Market

Mark Douglas is the author of two of the best and most influential books on trading: The Disciplined Trader and Trading in the Zone. The latter is often cited as possibly the best book on trading ever written and together these two have been hugely influential in showing the importance of a trader’s psychology in determining results. You may have the best system in the world and be highly competent but if your head is not in the right place then your results will not reflect this starting point.

Large firms know this and invest huge amounts in setting out rules and getting their traders to follow those rules thereby imposing a discipline that acts as a proxy for psychological improvement. But private traders have no such supports and must do it all themselves. This interview is a good place to start.