Mark Douglas’ approach to trading psychology has unlocked the door for many traders since the 1980s – as one of two founding fathers (the other is Dr. Van K. Tharp), in the unknown field at that time, within this now popular concept that everyone claims to be expert at.
The difference between Mark and Paula and all the rest - is that Mark and Paula live, what they teach.
Mark's interest in trading began in the late 1970s while he was an executive at a commercial casualty insurance firm. Giving up a lucrative six-figure income which included an expense account, a yearly new company car (Porsche of course!), he began studying to become a broker for Merrill Lynch at the Chicago Board of Trade. Once licensed, his career began.
What he found in his position as a broker, was that most brokers he worked with had no clue as to what the market was going to do, but claimed to know to convince their clients to put on trades. This was, and still is, not uncommon in the brokerage industry. Because, if you truly believe in probabilities, and understand that the market moves based on the perspectives of every single trader across the planet - you know then, that there is no way anyone can "know" what direction the market may move in any given moment, because you cannot know what any other trader is thinking at any given moment.
"Every trader - is the market."
Based on several years of watching fellow brokers trade and his own trading efforts, led him to begin keeping a daily journal of his thoughts and actions for each and every trade. What he found initially was that he did not know what he was thinking or feeling, and set out to do just that - know what he was thinking before, during, and after every trade, so he could determine if he was using valid signals or just hoping the trades would work. This unique approach became his first award-winning book "The Disciplined Trader" which Paula helped write as editor and being a sounding-board for every paragraph he wrote. This is why his first book is dedicated to her.
"Trading in the Zone" is an expansion of his experiences as a trader, as well as trading coach, where along with Paula they traveled around the world hosting workshops and doing personal coaching, helping traders become the best they can be. Moving forward, there are still many books and products co-created between them that will be produced in the coming months.
What Mark and Paula are adept at doing is to explore not only the very nature of trading itself, providing practical definitions to common trading terminology – but more so, dismissing many of the collective notions about how the markets actually work, and why they exist. How many of traders out there today know, or rather believe there is another trader on the other side of their trade – or have the misconception that trading is just a computer ‘game?’ In their materials , whether books or workshops, you will finally understand what makes each trader “tick” – and how the markets are made up of pure energy – energy and beliefs of every trader across the world – each time they point and click their mouse.
By using their materials, there will be no more doubt in any trader’s mind as to just what they need to do, and how they need to think – to become a consistently successful trader.
Mark and Paula are both well-rounded individuals, knowing that you have to be in alignment with your thoughts to create and sustain a rising equity curve. Always disciplined, Mark ran five miles almost daily, played competitive hockey for decades, loved to backpack in the wilderness of America, and enjoyed cooking and sharing good healthy food.
Mark shared his expertise with anyone who asked - novice or expert trader; traders with little income or mega-wealthy, and his generosity is legendary. He was a friend to the investment industry - even when he found that industry and traders were taking advantage of him. Why? Because it was all about helping traders become the best they could be, even though the piracy of his materials hurt him deeply, broke his heart and led to his demise. That is who he was - a man with integrity, and that was his personal path.