I am a consistent winner because:
- I objectively identify my edges.
- I predefine the risk of every trade.
- I completely accept risk or I am willing to let go of the trade.
- I act on my edges without reservation or hesitation.
- I pay myself as the market makes money available to me.
- I continually monitor my susceptibility for making errors.
- I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.
To integrate these principles into your mental system at a functional level requires that you purposely create a series of experiences that are consistent with them. You have an edge that genuinely puts the odds in your favour, and you can think about trading in the appropriate manner (the five fundamental truths).
The consistency you seek is in your mind, not in the markets. Its attitudes and beliefs about being wrong, losing money, and the tendency to become reckless when your feeling good that cause most losses, not technique or market knowledge.
Attitudes produce better overall results than analysis or technique.Mark Douglas
Trading in the Zone – Mark Douglas