Trading In The Zone - Mark Douglas

[shadowninja]

Some excerpts from the book:

The 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.

The seven principles of consistency

1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept 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.

It's like going to church all over again. The £ is the holy symbol and the above are the commandments.

 

[firewalker99]

Some excerpts from the book:

The 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.

It's like going to church all over again. The £ is the holy symbol and the above are the commandments.

That's true, I read them out loud every day. Just not with my hands folded

 

[shadowninja]

One thing he mentioned was that it isn't necessarily the clever, intelligent people that make it in trading. You have lawyers, doctors, scientists and entrepreneurs all losing money by trading because they lack discipline. However, in the city, we have the most educated, intelligent individuals. How does this work? I guess what they do is different in the city?

 

[TheBramble]

One thing he mentioned was that it isn't necessarily the clever, intelligent people that make it in trading. You have lawyers, doctors, scientists and entrepreneurs all losing money by trading because they lack discipline. However, in the city, we have the most educated, intelligent individuals. How does this work? I guess what they do is different in the city?

When was the last time you were in the city...? Educated? Intelligent?

 

[Crap Buddist]

Choke Chains

One thing he mentioned was that it isn't necessarily the clever, intelligent people that make it in trading. You have lawyers, doctors, scientists and entrepreneurs all losing money by trading because they lack discipline. However, in the city, we have the most educated, intelligent individuals. How does this work? I guess what they do is different in the city?

Farter, I have set fire to yours n mummy's living rooms curtains because I was of's the thinkings that the flames would look wonderfuls.





PING POW BIFF OOOOF!

 

[shadowninja]

Eh?