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Mark Douglas and the 5 truths in trading: my personal journey
Hello everyone! I need to confess something: trading has driven me crazy at times! After losing more money than I would like to admit, I found Mark Douglas's books and, oh my God, how they changed my mind!
When I started, I thought it was enough to memorize graphic patterns and I would be rich. What naivety of mine! I ended up taking so many hits from the market that I almost gave up. It was then that I found "Trading in the Zone" and realized that the problem wasn't the market - it was me!
I will share the 5 truths that saved me:
1️⃣ Anything can happen - And believe me, I've seen it all! Perfect analysis and the market going in the opposite direction just to annoy me. That "unbreakable" support? Well, it broke exactly at MY entry!
2️⃣ I don't need to be a seer - For a long time I thought I needed to foresee every move. What unnecessary pressure! Now I focus on protecting my capital and taking advantage of what comes up.
3️⃣ Victories and defeats are random - This lifted a huge weight off my shoulders. I used to punish myself for every loss. Today I understand that even the best traders lose regularly.
4️⃣ Margin is probability - A strategy with a 60% success rate will eventually have 4 consecutive losses. And that happened to me just yesterday! But I stay strong.
5️⃣ Every moment is unique - I’m tired of being paralyzed because "last time it went wrong". The market doesn’t remember my trauma from last week!
Trading is more psychological than technical. These principles helped me stop sabotaging my own trades. Once I understood this, I finally started to have some success in this crazy game!
Have you all fallen into the same mental traps as I have?