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

[nooby_mcnoob]

Oh, so I guess understanding of the importance of the trade management.

Yup exactly

 

[RedDuke]

Oh, so I guess understanding of the importance of the trade management.


What is your definition of not working?

Could not find any model with positive expectancy. Btw, my opinion only.

 

[qlai]

Could not find any model with positive expectancy.

You must have been using stops ... Rookie mistake

 

[RedDuke]

You must have been using stops ... Rookie mistake

Rookie mistake is not to use them. Would love to hear how you can trade without stops and surviving. I did test opening opposite trades. Layering kills you as well.

 

[nooby_mcnoob]

Oh, so I guess understanding of the importance of the trade management.

g?

And also, how finding a small edge makes you profitable

 

[qlai]

Would love to hear how you can trade without stops and surviving.

I was just kidding, although would be good to find a way to avoid using them. Something like running a shorter term strategy within a context of longer term strategy, so you just shift the loser from one to the other. I am not doing that, just a thought.

 

[nooby_mcnoob]

Rookie mistake is not to use them. Would love to hear how you can trade without stops and surviving. I did test opening opposite trades. Layering kills you as well.

You can trade without stops if you hedge. Sometimes I'll go long a stock and buy a put. And our friend @globalarbtrader trades without stops as well, if one is to believe his book and if I read properly, which is not guaranteed to be true.

 

[SimpleMeLike]

Loved the book, years ago when I read it. Then years later, I came to conclusion, non of it matters, if a trader does not use model that has positive expectancy.

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?

 

[SimpleMeLike]

I stumbled upon these videos in my continual search learning how to not suck at trading. I am glad that the audiobook is of professional quality and easy to listen to. The Seminar is pure gold. I hope this info can be helpful to some of you.

RIP Mr. Douglas.

Thanks for sharing,

In my opinion, I do not see the logical reason to read Mark Douglas book if I (or a trader) have no trading skills or know how to read a chart to develop a testing trading strategy or ideas.

 

[qlai]

Should the trader focus on trading skills first?

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.