Mark Douglas
More books by Mark Douglas…
“I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors. 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”
― Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
― Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.”
― Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
― Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
“Most traders have absolutely no concept of what it means to be a risk-taker in the way a successful trader thinks about risk. The best traders not only take the risk, they have also learned to accept and embrace that risk. There is a huge psychological gap between assuming you are a risk-taker because you put on trades and fully accepting the risks inherent in each trade. When you fully accept the risks, it will have profound implications on your bottom-line performance.”
― Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
― Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude
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