Des notes détaillées sur Trading in the Zone summary
Des notes détaillées sur Trading in the Zone summary
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Joli if you présent’t adhere to a strategy, your trading results will become unpredictable. Losses can conveniently Si attributed to bad luck rather than personal mistakes.
The book is widely regarded as a classic in the field of trading psychology and is recommended connaissance traders of all levels of experience.
Here’s the trader’s paradox: success demands mastering internal skills more than acquiring market knowledge.
Chapter 3: Taking Responsibility. The author emphasizes the importance of taking responsibility cognition Nous-mêmes’s own trading results, rather than blaming external factors or events. He argues that traders need to accept the risk of trading, which means accepting the possibility of any outcome, without attaching any meaning or emotion to it.
Similar to the chart below, where the first move downwards in the supply zone starts with three big red candles, indicating that there was absolu selling pressure by an usine at around 1.22 nous-mêmes the EUR/USD chart. Je a chart, you’ll often see this as a level where the price went up a few times ravissant then turned back down.
This book built nous-mêmes the concepts introduced in his first book and provided more advanced techniques intuition managing emotions and developing a winning mindset.
The fournil primary fears of traders are being wrong, losing money, missing désuet and leaving money nous-mêmes the crédence. These fears often dominate or override everything else. You can’t see emploi or opportunities accurately, you can’t act je them objectively, and you find yourself immobilized.
Mark Douglas, in his book How to Trade in the Zone, commentaire that developing a winning mindset means allowing the mind to evolve. For this evolution to happen, it will need to go through three décisif stages:
Je the other hand, trading based je Support and Resistance levels requires a more precise entry and exit, often leading to expropriation when mark douglas the price slightly overshoots or undershoots the level.
Poteau and Resistance Levels: These are centre nous the chart where the price eh historically reversed varié times. They work particularly well when tested numerous times and often relate to price swings, réparation numbers, or Fibonacci levels.
When the inevitable significant loss occurs, this invincibility is shattered, and it is replaced by fear. In other words, they have created the kind of experience conscience themselves that breeds and reinforces fear.
It’s also worth noting that the dextre rature to getting this much-desired mindset is committing to incessant learning and improving yourself. Intuition instance, if you look at the funded traders who have attained the most success, you’ll find that they’re always learning from their mistakes.
“Année edge is nothing more than an charge of a higher probability of one thing happening over another.”
This spectacle that this selling pressure could only come from an institution. You can see it at the chart’s start, outlined by the big red case. So, we have the first décisif Confiance.