Trading In The Zone

I've reading Trading In The Zone by Mark Douglas a couple times. Once in 2005 and once in 2006. In fact, the book I have, borrowed and haven't returned back to my friend Matt. At some point, I will need to buy him a new book because at this last reading over the past few days, I've highlighted and marked it up.

Rarely do I ever borrow books, especially stock books, but I did with this. Reason why is I usually read with a pen/pencil and highlighter. Yes, I'm one of those readers!

There was so much in this book that I'm, most likely, not going to recap the whole book, but probably have several blog entries on the various topics and what that translates to me. However, though I will not recap the whole book in this entry, I will share the key points I learned:

1. I NEVER know what will happen in the market. ANYTHING can happen - it can go up, down, or sideways.
2. Be present in the NOW. Every NOW moment is unique and has never been experienced nor will be experienced again. Make no expectations as to the fact that you KNOW what will happen, because you do not.
3. When you think you KNOW what will happen, that's when you miss out on the information the market is giving you. You become blind to what the market is saying.
4. Be rigid with your rules, flexible with your expectations.
5. To change your beliefs, in order to avoid a fight back resistance response that is fight or flight, you must gently take action towards the truth of what you want to belief.
6. The market is a constant flow of information -- that is neither good nor bad.
7. Be focused, disciplined, accept risk.

That's it for right now.
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