How can you use market analysis to help you make objective trading decisions? Know your trading method first the author just opened my own mind and pointed to me the distinction: trading is total freedom without rules, where rules have to be set by me AND followed,abide by me as well!

Trading in the Zone” written by Mark Douglas is a seminal work that teaches traders the importance of mastering their psychology. By accepting inherent uncertainty and embracing the concept of probabilities, traders can develop the discipline and mindset necessary to succeed in the trading world. This SEO-friendly summary serves as a guide to the core principles outlined in the book, helping traders navigate the markets with confidence and flexibility. Chapter 1 The Road To Success: Fundamental, Technical, Or Mental Analysis? Then you want to analyze and look for trending markets and avoid ranging ones so that you can buy high and sell higher. I think the above quote is true – we see what we want to see. We filter information every second and we do that in trading too. We will filter out the information that will cause us pain and select information that gives us pleasure. And doing these seldom lead us to profits.For instance about 3/4th of the way into the book he spends time talking about what a trend is and how to identify it. Seriously? Not only should the reader already have such elementary knowledge before reading this book, he contradicts himself by giving any time to such matters. However, the admin was sure that it could still go up in price in years to come, so he advised everyone to hold. urn:lcp:tradinginzonemas00doug:epub:c240ba7a-c478-426d-818d-e227dd8100af Extramarc OhioLINK Library Catalog Foldoutcount 0 Identifier tradinginzonemas00doug Identifier-ark ark:/13960/t47q34h38 Invoice 1213 Isbn 9780735201446 I just finished Trading in the Zone. One of the biggest things I got out of it is that after you place a trade, you don’t need to know what’s going to happen next to make money.

What caused this dramatic change in perspective? I’m sure it won’t surprise anyone that the answer to this question is very simple: money! The problem with making trading decisions from a strictly fundamental perspective is the inherent difficulty of making money consistently using this approach. Could you have prevented losing trades if you had used a 100-period moving average trend filter instead?Douglas highlighted the unpredictability of the market and emphasized that it is a game with uncertain outcomes. Traders must accept that they cannot control the market but they can control their reactions to it. This change in mindset is critical to business success. The problem with these models is that they rarely, if ever, take other traders into account as variables. People, expressing their beliefs and expectations about the future, drive prices—not models.

Why do you think unsuccessful traders are obsessed with market analysis. They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” Trading is an activity that offers the individual unlimited freedom of creative expression, a freedom of expression that has been denied most of us for most of our lives.” Access-restricted-item true Addeddate 2014-05-14 13:08:39.241305 Bookplateleaf 0006 Boxid IA1157514 City New York Donor

Instead, they think of it as a short-term one when they think that all that matters is strategy. Some of them are simply thinking of copying Mark Douglas’ trading strategy, thinking it’ll make them rich too.

While these are important things to understand and master to gain an edge in anyone's process, the fact remains that people can simply fall to the wrong side of a trade for no fault of their own. You start collecting more market analysis or opinions that only support your losing trade, which in turn converts you into an “investor.” I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them. Many possibilities and creativities open up, and you’ll realize that you’ll have bigger goals than the one you initially had.The author is inclined to his theory that anyone can win at trading by drawing some absolute lines of attitude, discipline and psychology required, somewhere that suits his theories.