Mark Douglas, one of the great trading authors/educators, dies at 67
The author of "Trading in the Zone" dies suddenly at 67
Trading in the Zone is a seminal book on the psychology of making money in the markets. Author Mark Douglas was active in trading education but sadly, his website is carrying a notice that he's died.
"It is with great sadness that we have to inform you that Mark Douglas passed away suddenly," the site says. They also note that he was working in new products that were heading into production this month.
We've learned that Mark died in the evening on September 12 at his home in Scottsdale Arizone.
The book that made him famous in trading circles was 'Trading in the Zone' which was released in 2000. It's a book I own and recommend to anyone who wants to become a better trader.
Great trading educators are in short supply so we mourn his death. He worked with traders for years before writing the book and it was a guide to characteristics and mindset of the ones who were successful.
He preached patience, discipline and eliminating errors.
"No man ever reached to excellence in any one art or profession without having passed through the slow and painful process of study and preparation," he wrote.
Here is something else he wrote on the secret to success.
"If there is such a thing as a secret to the nature of trading, this is it: At the very core of one's ability 1) to trade without fear or overconfidence, 2) perceive what the market is offering from its perspective, 3) stay completely focused in the "now moment opportunity flow," and 4) spontaneously enter the 'zone,' it is a strong virtually unshakeable belief in an uncertain outcome with an edge in your favor."