Peerapoom

“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. 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. Every moment in the market is unique.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

“Taking responsibility means acknowledging and accepting, at the deepest part of your identity, that you—not the market—are completely responsible for your success or failure as a trader.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

“However, market analysis is not the path to consistent results. It will not solve the trading problems created by lack of confidence, lack of discipline, or improper focus.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

“I define random trading as poorly-planned trades or trades that are not planned at all. It is an unorganized approach that takes into consideration an unlimited set of market variables, which do not allow you to find out what works on a consistent basis and what does not.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude