The invaluable advices from Mark Douglas

The trader does not define what he does, but how he thinks about his activities. The very first sentence, which explains beautifully how Mark Douglas managed to get really unimaginable in the last century. And it was not just by investing as such. Mark knew that consistent profits were all about the head, and he managed to “reprogram” his.

He also knew there was no gold or 100% rule for perfect trading. But if it existed, the key would be most likely the following: trading without fear, exaggerated self-confidence, perceiving what the market offers us from an objective position and focusing on the current opportunity.

All this must be done by the trader if he wants to be vigilant and prepared at every shop and every occasion. This will help especially in the long run, when such a mindset should bring him a nice reward. However, something else can help.

Programming your mind with seven simple phrases

Nothing more is needed to reprogram your mind. The following seven rules are sufficient. Of course the condition is that you read them every day and really believe what you read.

I’m a consistent winner because:

I objectively identify benefits
I determine in advance the risk of each trade
I fully accept the risk and am willing to emotionally disconnect from the trading
I use the benefits without restraint and hesitation
I give myself as many euros as the market offers me
I keep watching my own tendency to make mistakes
I understand the importance of these principles and therefore I will not abandon them

Summary

If you want to be a really profitable trader, repeat these rules consistently until you get them under your skin. Understand what each of these seven rules tells you and take it for granted.