Mark douglas trading in the zone quotes

“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1.

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Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3.

Mark douglas trading in the zone quotes

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.

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Every moment in the market is unique.”
― Mark Douglas, 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