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“If you have to win, if you have to be right, if you can’t lose or can’t be wrong, you will cause yourself to define and perceive categories of market information as painful.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude

“According to George Soros, what’s important is not whether you’re right or wrong about the market. What’s important is how much money you make when you’re right about a trade, and how much money you lose when you’re wrong.”
― Mark Tier, The Winning Investment Habits of Warren Buffett & George Soros: Harness the Investment Genius of the World's Richest Investors

“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

“I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors. 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”
― Mark Douglas, Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude