Trading In The Zone – Mark Douglas
We talk about Trading in the zone A LOT through The Social Traders core strategy. A lot of traders have read this book and there is a good reason for it, it is one of if not THE best trading book on the market. If you haven’t already got this book and are serious about your trading goals, do yourself a favor and purchase it. The book starts off with an ‘attitude survey’ so before you have even started the book Mark Douglas is laying the foundation to really question whether you are as good as you think you are as a trader. Question number 1: To make money as a trader you have to know what the market is going to do next? Agree or disagree? Question number 8: The more a trader learns about the market and how they behave, the easier it will be for them to execute his trades? Agree or disagree? Now really think about those two questions, in most industries the more knowledge you have about a particular subject the better you will become at it right, the more equipped you will be? Well that is not the case with trading acquiring and acquiring more and more knowledge from different creases of the market may cause other issues. Trading is a game of probabilities, it’s about an edge and mastering that edge. So many traders delude themselves thinking that acquiring more knowledge will help them succeed when really the tools to succeed are right in front of them, with their mentally typically being the only thing stopping them from being consistently profitable. Let me show you a snippet from Chapter 7: “Traders who have learned to think in probabilities approach the markets from virtually the same perspective. At the micro level, they believe that each trade or edge is unique. What they understand about the nature of trading is that at any given moment, the market may look exactly the same on a chart as it did at some previous moment; and geometric measurements and mathematical calculations used to determine each edge can be exactly the same from the one edge to the next; but the actual consistency of the market itself from one moment to the next is never the same” So what I want you to think about before trading at scale, If you’re really serious about leveling up your psychology If you’re really serious about leveling up your trading capital Then get this book, it will be a game changer for you trading.