Mark Douglas "Trading in the Zone" Audiobook + Trading Psychology Seminar

SimpleMeLike said:
RedDuke,

What do you mean "non of it matters, if a trader does not use model that has positive expectancy"

Are you saying trader should focus on finding positive expectancy, then focus on all the discipline, confidence, psychology stuff?

Should the trader focus on trading skills first?
More...

Absolutely spot on. If expectancy is negative, no money management or discipline will help. Think of roulette, no discipline and MM will help there in a long run. (one guy managed to crack it, but it was due to technological reason, if interested read the book "13 against the bank").

I would even add more, once model is found, automate. Then all emotions are gone.
 
qlai said:
I wanted to share this great analogy (imo) that Dr. Brett Steenbarger used in one podcast when asked same question:

Imagine you are a surgeon and your patients keep dying on the table and after the surgery you say - Damn, something is off - I need to work on my psychology.
More...
qlai,

I LOVE THAT quote. Damnnnnn, I love that. That's the best analogy, I ever heard as it relates to trading. This is the reason I strongly believe "NOW", building my trading skills and learning the charts and price behavior, is my number #1 challenge. That psychology stuff is for later on.
 
RedDuke said:
Absolutely spot on. If expectancy is negative, no money management or discipline will help. Think of roulette, no discipline and MM will help there in a long run. (one guy managed to crack it, but it was due to technological reason, if interested read the book "13 against the bank").

I would even add more, once model is found, automate. Then all emotions are gone.
More...
RedDuke,

Thank you. I agree with you fully.

I look back at all the money I loss trading in the beginning and buying this trading system and joining this chat room and follow this and that person trades, I recall many traders in the paid chat room asking the trading guru "I am on a 4 losing streak", and the guru would say "just stay discipline and control your emotions"..........many of times I would think to myself "How do I know what I am doing is working".

I fully know better now.
 
SimpleMeLike said:
RedDuke,

Thank you. I agree with you fully.

I look back at all the money I loss trading in the beginning and buying this trading system and joining this chat room and follow this and that person trades, I recall many traders in the paid chat room asking the trading guru "I am on a 4 losing streak", and the guru would say "just stay discipline and control your emotions"..........many of times I would think to myself "How do I know what I am doing is working".

I fully know better now.
More...

Best of luck, btw nothing wrong with having 4 losses in a row, if that is indeed in your model.:D
 
RedDuke said:
Best of luck, btw nothing wrong with having 4 losses in a row, if that is indeed in your model.:D
More...
Yes, nothing at all wrong with it now.

The one thing automated trading taught me when I was programming and clicking backtest many times was: The bigger the sample size, the better the equity curve. It's about the number of trades, loss come and go.
 
SimpleMeLike said:
Yes, nothing at all wrong with it now.

The one thing automated trading taught me when I was programming and clicking backtest many times was: The bigger the sample size, the better the equity curve. It's about the number of trades, loss come and go.
More...

Backtesting is hard. One of the ways to design and test in the middle of the sample. And then run it for the whole sample, thus it gives you some forward test.
 
delete trading in the zone.jpg
 
You must log in or register to reply here.
Back
Top