The right state of mind for trading
A lot has to be said for the psychological aspect of trading successfully. Mark Douglas in his book Trading in the Zone, puts forwards 5 truths about the market. Rewiring the mind to believe wholly these 5 truths is the way to go to obtain the best psychological frame of mind to trade successfully.
- Anything can happen
- Every moment is unique
- You don't need to know anything about what is going to happen next in order to be in a winning trade.
- An Edge is nothing more than a higher probability of one thing happening over another
- There is a random distribution between wins and losses and any given set of variables that define an edge
posted by emacro @ 11:04 PM
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