Trading Lessons from Trading in the Zone by Mark Douglas

Here is the book quick review lasting 11 minutes.

In this video, we break down and summarize the key lessons and takeaways from this book and explain why we think you should check it out too!

Key takeaways

• The determination factor between successful traders and losing traders is pyschology.
• Mistakes traders make are often built on applying deep-rooted emotional issues to interactions with the market.
• Trader must come to a point where they can trade free of psychological baggage in order to find success
• Eliminate your fear/ emotions around trading
• Adopt a probabilistic mindset
• Learn to be a consistent winner
• Learn to trade an edge like a casino

Trade an edge like a casino

1. Pick a market to trade
2. Choose a set of variables to define an edge
3. Define entry trigger
4. Define stop loss placement
5. Define timeframe to trade
6. Define how to take profit

Trade a sample size of minimum 20 trades using this exercise to get you to think about trading as a probabilities game rather than an individual trade-by-trade perspective.