Book Summaries

The Disciplined Trader

A summary of Mark Douglas's The Disciplined Trader, written in our own words. Its argument is that the market is not a hard environment because it is complicated but because it has almost no structure: no rules about when to act, no beginning or end to a move, no ceiling on gain or loss, and no obligation to give a reason. Everything the trader experiences there is supplied by the trader. This paper sets out that case, the five features of the environment it rests on, and what it asks a person to change.

Difficulty

Beginner

Reading time

26 min

Pages

18