Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

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What caused this dramatic change in perspective? I’m sure it won’t surprise anyone that the answer to this question is very simple: money! The problem with making trading decisions from a strictly fundamental perspective is the inherent difficulty of making money consistently using this approach. They start buying courses, “secret strategies,” and trading robots to attempt to shortcut their way to reach their goals.

To answer this question, you probably have nothing more to do than ask yourself why you bought this book. Most professional & profitable traders that I’ve met so far are enthusiastic students of the markets. Despite the lessons I’ve shared with you today, it’s only about 30% of what the book has to offer you. Once you apply it, you’ll be looking forward to building your trading business instead of finding the right time to withdraw money from it.

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This means that no matter how much you learn about the market’s behavior, no matter how brilliant an analyst you become, you will never learn enough to anticipate every possible way that the market can make you wrong or cause you to lose money.” You’re the boss of your trading portfolio, and your trading platform is your employee to decide for you in advance! Could you have prevented losing trades if you had used a 100-period moving average trend filter instead? Unfortunately, how you take profits will depend on your trading method, so there could be many answers. So, instead of having only one goal of becoming a full-time trader, determine what it takes to get there!

I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them. However, he cautioned that many of us do not have the necessary psychological makeup to survive the market when we have no rules to govern our trading in the boundless market. I encourage anyone trying to reach the next step in their trading to read this book, its the most practical book you'll ever read. So by the time you blindly follow someone’s analysis and enter a trade, you’ll be left with a question: Each individual will define, interpret, and consequently experience whatever information he is exposed to in his unique way.”The author explores the concept that anything can happen in the market. To trade effectively, traders must abandon the need to predict outcomes and focus on their edge, risk management, and consistency in execution. That’s why you must detach yourself from the results and attach yourself to the process that will consistently push you to reach further than your expected results. The most likely reason is that you are dissatisfied with the gap between what you see as unlimited money-making potential and what you achieve. Hence, do not expect your methods or the market to perform consistently. Do not be disappointed when you are wrong, or become overconfident when you are right. It is about implementing your method consistently regardless of wins and losses. Because wins and losses will stir your feelings and cause you to act irrationally, and result in self-sabotage.

Must read for anyone who is in trading. It won´t teach you how to trade, but It may enlighten you as to what real trading is about (hint: is NOT about KNOWING what the market is going to do). He said that losses are not a result of your reading of the market. No one can learn enough to score 100% wins in all his trades. Hence, it is never about being the super analyst who never make any mistake. This person does not exist. Furthermore, at any given time, most of their trading activity is conducted in response to emotional factors that are completely outside the parameters of the fundamental model.

However, the admin was sure that it could still go up in price in years to come, so he advised everyone to hold. You start collecting more market analysis or opinions that only support your losing trade, which in turn converts you into an “investor.”

The consistently successful trader that you want to become doesn’t exist yet. You must create a new version of yourself, just as a sculptor creates a likeness of a model. In fact, many traders, especially on the floors of futures exchanges who have the ability to move prices dramatically in one direction or the other, usually do not have the slightest concept of the fundamental supply and demand factors that go into being. She is the one. Is this going to affect the prices? Trading successfully is a paradox. What makes people successful in today's society, will not make one successful in the trading world. And it all comes down to our beliefs. So I’ll show you what they are exactly and what you should do when you are in that particular phase… Phase 1: Before the trade Who remembers when fundamental analysis was considered the only real or reasonable way to make trading decisions? When I started trading in 1978, technical analysis was used only by a handful of traders, whom the rest of the market community considered crazy at best.

So if you’re in a trading community that shares their thought-process on how they handle losses or what it took to achieve their gains… I just finished Trading in the Zone. One of the biggest things I got out of it is that after you place a trade, you don’t need to know what’s going to happen next to make money. Instead, they think of it as a short-term one when they think that all that matters is strategy. Some of them are simply thinking of copying Mark Douglas’ trading strategy, thinking it’ll make them rich too. Many possibilities and creativities open up, and you’ll realize that you’ll have bigger goals than the one you initially had.