I am a consistent winner because

Quote from ProfitTakgFool:

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. <<<-------This is a <b>BIG</b> one.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

Mark Douglas, "Trading in the Zone."

Best Trading book I've read. It's not in the charts guys, it's in your head. Your job as a trader is to put yourself in a position to take advantage of opportunity when it is presented.
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Great quote
I would add:
'I recognize my mistakes and learn from them - rather than repeat them endlessly'
 
Quote from DataCruncher:

I got the impression that by the time you get to the intuitive level, you are at a level of skill where you can use much more subjective judgement in each edge that unfolds in the market. thus there might not be much for him to say specifically about the intuitive level, since each trader will be taking a more individualized path at that point. and his book was designed to help you get to that point.
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After 20 trades your all of a sudden going to have the skill sets required to trade intuitively :confused:

I highly doubt that.

I think most people miss the point (as usual) He clearly states that having skills (honed from experience ) AND the right attitudes is the path to consistency.

Anyone can constantly make $50 per day with a slight edge but can you live off of that ???

NO

It still takes market knowledge to develop real edges that stand the test of time and are super profitable.
 
Quote from MandelbrotSet:

I do all my thinking when before I enter a trade ... not afterward. :)
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After todays er, ah interesting activities --- I am adding a rule to my trading plan

3 losers - your out for the day


I made 31 trades today - way to many to even look back and try to understand what I did or why

rookie mistake
 
Quote from Joab:

After 20 trades your all of a sudden going to have the skill sets required to trade intuitively :confused:

I highly doubt that.

I think most people miss the point (as usual) He clearly states that having skills (honed from experience ) AND the right attitudes is the path to consistency.

Anyone can constantly make $50 per day with a slight edge but can you live off of that ???

NO

It still takes market knowledge to develop real edges that stand the test of time and are super profitable.
More...

I didn't mean after 20 trades you would reach intuitive level. He implies it takes years to reach the intuitive level, and during that time is when you are developing better and better systems. And having to constantly tweak those systems.
 
Quote from Joab:

I'm curious, has anyone read the Disciplined Trader and can they comment on the differences ?
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In my opinion that is the best trading book I have ever read that has actually helped. Best 40 dollars I ever spent on a book. It helped me reach the turning point in trading and I think it should be required for anyone considering trading. I own both books but did not get much out of traidng in the zone. Maybe it was because I could already get in the zone but lacked the disciplined to stay there. One of my favorite quotes from the book.

As a result I inadvertently learned one of the most important lessons to becoming a successful trader: how to "accept" a loss without any negative consequences. No guilt, anger, shame or self punishment."
 
Quote from balda:

Most difficult thing for me was to stop picking tops and bottoms.
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lol
You know how to do it but you had to stop doing that ?
 
Quote from ProfitTakgFool:

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. <<<-------This is a <b>BIG</b> one.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

Mark Douglas, "Trading in the Zone."

Best Trading book I've read. It's not in the charts guys, it's in your head. Your job as a trader is to put yourself in a position to take advantage of opportunity when it is presented.
More...






perfect could not have said it any better
 
IMHO there is no such thing as a consistent winner. There are winners and losers, and degree of their winning/loosing consistency keeps changing over the time.
 
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