As a former exchange member, I can attest to the validityof the concepts and the effectiveness of the methodologypresented in this book. Those who have ever traded seriouslyknow the mental game is the real game. You probably will have to execute over 1000 trades to really appreciate the thought process Douglas lays out. For beginners, reading the bookwill introduce you to the REAL challenges in trading.They don't call trading "A hell of a hard way to make an easyliving" for nothing. This book is one of the very few that addresses this issue.