We need to be flexible in our expectations s othat we can perceive with the greatest degree of clarity and objectivity, what the market is communicating to us from its perspective. If I enter a trade knowing it’ll be a winner, what I’m saying is that I know who is in the market and who’s about to come into the market. 2shared - Online file upload - unlimited free web space. This summary represents about 45 pages of a 200 page book. Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude You will be profoundly more successful once you fully accept the risks to trading in each trade. Notes supplemented by Josh Duesterbeck. I must create a state of mind that is not affected by the market’s behavior. Keep in mind that your potential to experience emotional pain comes from the way you define and interpret the information you’re exposed to. You aren’t trying to win or avoid losing. They do not fear the erratic behavior of the markets. When we expect something, we are projecting out into the future what we believe to be true. The most common of all trading errors is not defining the risk before going into a trade. Notes supplemented by Josh Duesterbeck, The Most Common Forex Trading Mistakes – and How to…, The Forex Marathon - How to Plan for Success. Beliefs keep on working regardless of whether or not we are consciously aware of their existence in our mental environment. (If I believe anything is possible, then there is nothing for my mind to avoid.). Obviously there is a lot of information, discussion, and examples that are not present here. Knowing when you will exit a trade (stop loss) is one major way of knowing if you’ve fully accepted the risk of the trade. I strongly encourage you to buy the book and read it! A probabilistic mind-set pertaining to trading consists of 5 fundamental truths: 2. Taking responsibility is the cornerstone of a winning attitude. The structure that we need to guide our behavior has to originate in your mind – as a conscious act of free will. Click Here To Receive Your FREE Forex Training Course, The Most Common Forex Trading Mistakes – and How to Avoid Them, The Forex Marathon – How to Plan for Success. If I don’t accept the risk, it means I only considered the possibility that the market will go in my favor which is unrealistic. If I can accept the fact that the market doesn’t generate positively or negatively charged information, then the only other way info can take on a positive or negative charge is in your mind. They learn to focus on opportunities that will help them make profit instead of focusing on the information that reinforces their fears. Email. File sharing network. I fall into a state of overconfidence and euphoria. Academia.edu is a platform for academics to share research papers. Trading in the Zone by Mark Douglas. There is a random distribution between wins and losses for any given set of    variables that define an edge, 4. I shouldn’t perceive anything the market can do as threatening. Mark Douglas - Trading In The Zone.pdf [wl1p6q0585lj]. Our minds constantly associate what’s outside of us (information) with something that’s already in our mind, making it seem as if the outside circumstance is exactly the same as the memory, distinction, or belief in our head. Expectations come from what we know.