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A
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>Whether or not the book is expensive:
>
>RB: Let me put my view this way. If I lost $200.00 per contract on a
>trade, I'd consider that a relatively small loss.
>
>Most of the members on this list would spend $200.00, on some piece of
>software or some trading manual, without a second thought. Yet we
>balk at the thought of spending $200.00 on "a psychological book".
>
I find this comment to be very enlightening. There are endless posts to
this list about the advisability of attending various seminars etc. costing
$1000s given by people with questionable ethics and abilities (This is
meant as an example not to call into question any individual guru).
Interestingly, without the traits discussed by Mr. Douglas, even the most
informative 'How to Trade' hotline or seminar would be useless. Even a
two-year one-on-one tutorial with George Soros would be useless, if one had
no discipline in ANY facet of his/her trading. In fact, it is my opinion
that one has no chance of being a consistant winning trader over time
without the characteristics Mr. Douglas details. This is not to say that
he has all the answers or that his worldview is perfect (although it is
quite good and well worth considering), but I am saying that this type of
'psychological' work is far more important than any fundamental
information, one of a kind indicator or world beating system. It is too
expensive not to read this book.
sb
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