Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude (Mark Douglas, 1995)

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Common mistakes

  • Overly lured to the its benefits.
  • Not creating rules.
  • Ignored responsibilities.
  • Addicition to random rewards.
  • Avoid boom buster.
    1. Winner
    2. Loser
    3. Boomer
    4. Buster
Stay consistent
  • Know the risk.

Understanding yourself
  • What are the objectives?
  • What sre the skills?
  • What is a carefree state of mind?
  • What is objectivity?
  • What does it mean to make yourself available?
  • What Is the "now moment'?
 Truth about skills

  • Anything can happen.
  • You don't need to know what is going to happen next in order to make money.
  • There is a random distribution between wins and losses for any given set of variables that define an edge.
  • An edge is nothing more than an indication of a higher probability of one thing happening over another.
  • Every moment in the market is unique.
Beliefs
  • They manage our perception and interpretation of environmental information in a way that is consistent with what we believe.
  • They create our expectations. Keep in mind that an expectation is a belief projected into some future moment. Since we can't expect something we don't know about, we could also say that an expectation is what we know projected into some future moment.
  • Anything we decide to do or any outward expression of behavior will be consistent with what we believe.
  • Finally, our beliefs shape how we feel about the results of our actions.

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