Mark Douglas. Trading in the zone (Zone Trading) – book download

BOOK REVIEW BY MARK DOUGLAS "ZONE TRADING"

This book describes a comprehensive view of the difficulties, that a person encounters, who has accepted the challenge from financial markets. When there is an understanding of that, that it's not limited to broker tips, and the rationale for buying or selling is, virtually, extremely complex, giving unpredictable results. The book offers a serious psychological approach., which should contribute to the achievement of stable positive results of the trader's trading decisions. The author does not offer a ready-made trading system, but his interest lies in a completely different plane. – show, how to think in order, to become a consistently successful trader.

The book is intended for a wide audience, independently entering any financial markets (stock, futures, currency and commodity).

Douglas Mark- one of the most famous authors of books on the psychology of trading in the West. He helps to cope with the main – trading fears, of which there are so many in this area.

Considering, what 90% trading success depends on psychology, the importance of such books is difficult to underestimate. Douglas's job is simple, understandable and perfectly demonstrates the main psychological mistakes, which traders love to fall into.

A very famous book, one might say, anthem of intuitive trading, for some reason unknown here. The translation used to be amateur, but fortunately now there is a publishing, he is on the link.

Successful traders can enter a trade without the slightest hesitation and contradiction, and also freely admit your mistake and exit the position. They can close the trade, even if there is a loss on it, and at the same time maintain a working attitude, without experiencing any psychological discomfort.

In other words, the risks involved in trading do not make the best traders lose discipline, concentration and a sense of self-confidence. If you cannot trade without experiencing even the slightest psychological discomfort (especially fear), this means that you have not yet learned to accept the risks associated with trading.

This is a big problem., because how much you can’t take the risk, so much you will avoid it. Trying to stay away from something usually has the most detrimental consequences on the path to successful trading.

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Synopsis of the book "Zonal Trading" - Mark Douglas:

Book by Mark Douglas "Zonal Trading. Winning the Market with Confidence, discipline and attitude for success»Describes a comprehensive view of the difficulties, that a person encounters, who has accepted the challenge from financial markets. The book offers a serious psychological approach., which should contribute to the achievement of stable positive results of the trader's trading decisions. The author does not offer a ready-made trading system, but his interest lies in a completely different plane - to show, how to think in order, to become a consistently successful trader.

Zone Trading Is a comprehensive view of difficulties, that a person encounters, who has accepted the challenge from financial markets. For a beginner, there is only one problem - to find a way to make money.. But when it comes to understanding, that it's not limited to broker tips, and the rationale for buying or selling is, virtually, extremely complex, a person either begins to develop their own trading strategy, either trying to buy it for money. Seems, that having a strategy will solve all problems and make trading in the markets an easy task. You just need to follow certain rules., and money will flow like a river.

At this stage, and possibly even earlier, a beginner comes to the realization that, that trading can turn into one of the most depressing and discouraging experiences in life. Related to this is, what, according to statistics, 95% futures traders lose all their money in the first year of trading. The trading results of traders in the stock market are approximately the same. Therefore, stock market experts constantly point to the inability of most traders to go beyond the banal "buy and hold" investment scenario..

So why do people, so successful in other fields of activity, suffer crushing losses in trading? Successful traders are born or become? The answer is unequivocal: successful traders become. A person needs to master the trader's mindset. At first glance, everything is quite simple., but in reality, the direction of the trader's thoughts is far from the worldview familiar to most people.

Relative indicator 95% defeated in the market we will explain, if we take into account, that people use skills and abilities in life, acquired in childhood. When it comes to trading, then everything becomes useless, which has helped to get high grades in school over the years, move up the career ladder and build relationships with other people. Turns out, traders must learn to think in terms of probabilities, sacrificing all the skills, developed to achieve success in all other areas of life.

The goal of every trader is to make profit on a regular basis, but only a few are capable of that, to consistently make money in the market. What distinguishes this small group of successful traders from the mainstream? Psychology should be considered the decisive factor., since the way of thinking of successful traders is inherent in its originality.

The fundamental problem is the way we think. Something is inherent in him, which is completely inconsistent with the characteristics of the market.

Only those traders achieve success, who have confidence in action and trust in themselves, which, in combination, allows you to do the right things without any hesitation and doubt. They are not afraid of the chaotic market movements.. They've learned to focus on information, which helps to identify opportunities for profit, and don't get hung up on the news, feeding fears.

Maybe, it seems a little tricky, but it all comes down to realizing the following:

1. you don't need to know, what will happen in the market at the next moment in time, in order to earn money;
2. anything can happen, anything;
3. every moment in the market is uniform, therefore, any specific case and result are unique and inimitable in their own way. Deal or work, or not. In any case, the trader will wait for a new opportunity to enter the market and will go through the process of opening and closing a position over and over again..

This approach allows you to methodically and systematically figure out how, what works, and what does not lead to the desired outcome. And the most important thing, a trader will be able to gain self-confidence, through which it will avoid damaging actions in an aggressive market environment.

Most traders refuse to believe, that the root of their problems lies in, what and how do they think, when they trade.

Analytics, no matter how sophisticated she is, cannot be considered a panacea for resolving trading-related difficulties.

Trading results are determined by the way the trader thinks and his attitude to trading.

To shape the mindset of a winner, or so called probabilistic thinking, certain beliefs and attitudes are necessary.

There are many conflicts, no connections and paradoxes in thinking, which may lead to, what a trader can think, that he has already learned probabilistic thinking, although this is not really the case.

It is necessary to learn to trust the existing competitive advantage. Competitive advantage means a higher likelihood of a favorable outcome. The higher self-confidence will be, the more successful trading will be.

Almost all experienced traders, more-less, use technical analysis methods when developing their trading strategies. With rare exceptions, a pure fundamental analyst is nowhere to be found in the scientific community..

Making trading decisions purely on the basis of the provisions of fundamental analysis excludes the possibility of stable money making in the market. Fundamental analysis tends to take all variables into account, which can affect the relative balance between supply and demand for a particular security, commodity product or financial instrument. By using mathematical models to assess the significance of various factors (interest rates, balance sheets, weather conditions and many others) an analyst gives a forecast of price changes at some point in the future.

All these models have a common problem.: they do not take into account other traders as variables. But it is the people, expressing your ideas and expectations for the future, and move the price, not models! A logical and reasonable prediction from a model based on all relevant variables may be useless., if a traders, producing most of the trading volume of the market, have no idea about it or refuse to believe in its effectiveness.

Many traders, especially those, who operate on the futures exchanges, able to give the price a serious acceleration in one direction or another, but they usually have no idea about the fundamental factors, affecting the ratio of supply and demand. Furthermore, their trading activity is mostly a reaction to emotional factors, which in no way correlate with the fundamental characteristics of the market. In other words, market participants, driving the price, do not always act rationally.

A fundamental analyst is quite capable of issuing a correct forecast regarding the price level at one point or another in the future.. However, high volatility in financial markets makes it extremely difficult to act in accordance with the forecast., if it doesn't make them impossible at all.

Technical analysis there are the same, how many and organized markets in the form of exchange structures. Every day, a week or a month, a finite number of traders participate in trading around the world. Many of them perform similar actions over and over again in order to make money.. To put it differently, people develop behavioral patterns, and a group of people interacting with each other on an ongoing basis forms collective behavioral models. They are not only observable and measurable, but also have the property of repeating with frequency, indicating statistical reliability.

Technical analysis is a way of organizing collective behavior into identifiable patterns., clearly indicating the degree of likelihood of a particular scenario of the development of events. With the help of technical analysis, we get the opportunity to penetrate the consciousness of the market and anticipate future price movements based on patterns, which were generated by the market at some point in the past.

For predicting price movements, technical analysis turned out to be a much more suitable tool., rather than a purely fundamental approach. It focuses the trader's attention on what is happening at the moment and correlates the present with past price action., instead of focusing on, how the market should behave solely on the basis of logical and reasonable calculations, defined by mathematical models.

Fundamental analysis leads to a rupture of reality between, what should be, and topics, what is. The reality gap makes any kind of forecasting nearly impossible., apart from long-term, which can be difficult to use even in cases, when it turns out to be right.

In contrast to this technical analysis not only bridges the gap in reality, but also provides the trader with literally unlimited opportunities to generate profits due to the, which allows you to find behavioral patterns on the market, repeating at each time scale on intraday, daytime, monthly and annual price charts. Technical analysis transforms the market into an endless stream of enrichment opportunities.

If technical analysis is so magical, then why an increasing number of traders are switching their attention from technical analysis of the market to mental analysis, the object of study of which is the person himself with his individual characteristics of trading psychology? Because traders are not comfortable with the discrepancy between the scale of perceived opportunities and the potential for profitability., On the one side, with real results of efforts, undertaken in this direction, On the other hand.

This is the main problem of technical analysis. Once a trader has learned the art of reading the market and identifying patterns, he has unlimited opportunities for making money.

Difference between predicting market events and reality, requiring traders to take specific actions to enter and exit the market is enormous.. This difference is a psychological gap, making trading one of the most difficult activities, the process of mastering which is extremely mysterious.

The key question is the very possibility of mastering the skill of trading Mark Douglaa. It is quite possible to reach the state, in which trading in the market becomes an easy matter, devoid of inner tension, as if a trader is watching the market and thinking about possible trades. For many, this can be a daunting and even daunting task.. However, not everything is hopeless. There are people in the world, who managed to bridge the gap between the opportunities provided and the final trading results. The number of such craftsmen is negligible compared to the total number of traders working in the financial markets..

There is a huge distance between these two groups of traders - between stable winners and everyone else.. Likewise, everyone, who will learn to place orders, open and close positions, can claim to be a trader, but when comparing the properties and qualities of consistently earning traders and most other market participants, it turns out, that there is little in common between them.

Every day, colossal amounts of money turnover in the markets for a week and a month, constantly providing everyone with opportunities for successful trading and making money. As the markets are in constant flux, traders begin to think, that making huge money is not at all difficult - wealth is at arm's length. The verb seem draws a line, on opposite sides of which there are two groups of traders. Those, who gained consistency in trading and crossed the threshold of stability, the distance of the “outstretched arm” no longer separates from money - they are able to take money from the market. There are also restrictions, but for the most part, money flows into the accounts of such traders with such ease and without apparent effort, that the rest of the people are just breathtaking.

Traders, not included in this group of favorites, take the word "seem" literally. At first glance, the much-desired stability and success are just a stone's throw away, but over and over again money slips out from under my nose. For such people, if trading brings something stable and with enviable consistency, so this is emotional suffering. Sometimes there are moments of elation., but they spend most of their time in a state of fear, anger, disappointments, anxiety, friends, feel betrayed and regret missed opportunities.

What separates these two groups of traders Mark Douglas?

Many of those, who failed in the markets, are among the brightest and most accomplished members of society. The group of stable losers includes scientists, lawyers, the doctors, heads of large companies, wealthy retirees and entrepreneurs. Furthermore, the best market experts are often the worst traders. Sophisticated intelligence and good analytical skills, undoubtedly, contribute to success, but by no means are the determining factors, separating consistently successful traders from all other traders.

If we reduce all the variety of reasons to one, you can just say, what successful traders think differently, than others.

Any, who has experience in trading in the market, sooner or later learns to recognize opportunities. But the ability to identify the right moments to buy or sell does not mean that you have the ability to think like a trader..

A distinctive feature of consistently successful traders is their way of thinking as a unique combination of attitudes, which allows you to maintain discipline in adverse conditions, stay focused and, what is most important, confidence. Consequently, they are able to overcome feelings of fear and avoid common trading mistakes. Everything, who trade, learn a thing or two, but only a small fraction of traders are able to master the approach, outside of which the process of becoming a successful trader is unthinkable.

Traders, not crossed the threshold of stability, usually have to endure emotional distress and financial loss until then, until they master the approach, allowing to function effectively in the market environment. The rare exceptions are those, who was born in the families of successful traders or those, who are fortunate enough to be mentored by an experienced person at the dawn of their careers, well versed in the nature of trading.

Trading is full of paradoxes and contradictions in thinking, seriously complicating the achievement of the stated goal. To summarize the essence of trading in one word, then we can call it paradoxical.

Financial and emotional disasters are so common in the trading environment, because many of the approaches, points of view and principles, perfectly reasonable and successfully practiced in everyday life, in a market environment lead to opposite results. They just don't work. Many people start their careers in the market, Not understanding, what does it mean to be a trader, what skills are required for this profession and to what extent they should be mastered.

Every trader takes risks when opening a position, which does not mean that he is taking a risk. All transactions are risky, since their result is probabilistic, that is, not guaranteed. But do most traders really believe in, that when entering the market they take risks? Do they really accept the possibility of non-guaranteed, probabilistic outcome? And what's more, do they fully accept the possible consequences?

The unequivocal answer is "no". Almost all traders have no idea about risk taking in the sense, how a successful trader thinks about it. The best traders aren't just willing to take risks, they have learned to take risk internally. A colossal psychological gap forms here, between taking risk when opening trades, On the one side, and full acceptance of the inherent risk of each transaction - on the other hand. Full acceptance of all trading-related risks will have serious implications for trading results..

Successful traders do not experience any hesitation and conflicting feelings when entering the market, and in the same way, freely and without hesitation, recognize, that the deal didn't work. They liquidate a trade with a loss without any problems and at the same time do not experience mental discomfort.. The inherent risk of trading does not lead to a loss of discipline, concentration and confidence. If a trader is unable to trade calmly, without experiencing any mental discomfort (in particular, feelings of fear), means, he is still far from accepting the risks associated with trading. This is a big problem., because the degree of risk aversion is directly proportional to the intensity of the effort, aimed at avoiding it. An attempt to escape from the inevitable is fraught with disastrous consequences..

Teaching full risk-taking in any business is not easy., especially, when it comes to trading, where the stakes are very high. In the rating of fears, the loss of money and the fear of being wrong definitely occupy the first lines.. Admitting mistakes and financial losses are painful for the emotional state., so people try to avoid them in every possible way. When working in the financial markets, you constantly have to face these two problems..

Trading presents a fundamental paradox: how, despite constant uncertainty, manage to maintain discipline, concentration and self-confidence? You need to learn to think like a trader . The key to gaining a trader's mindset is rethinking actions in light of full risk acceptance.. Teaching taking risks is the main task of all tasks, facing the trader. Novice traders rarely pay attention to this issue..

After mastering the most important of all trading skills - the ability to take risks, the market will lose its ability to generate information, defined and interpreted as provoking experiences. And if the information coming from the market has no properties, causing emotional pain, then there is nothing to avoid. This is just information, telling about the available opportunities. This is called an objective point of view on the market., and it is not distorted by fears and doubts about, what may or may not happen.

The market is neutral in terms of movements and information generated. Market movements and information coming from it only provide each of us with the opportunity to implement certain actions. The market has no power to influence the way traders perceive and interpret information., he cannot control decisions, adopted by them. All mistakes stem directly from the wrong point of view and approach to trading.. The wrong approach fuels fears and reduces the level of confidence in one's own actions.

Successful traders are not afraid. They are not afraid, because they formed an attitude towards the market, allowing the maximum degree of psychological adaptability, and this allows them to open and close positions based on the, what the market tells them. At the same time, the approach of successful traders to trading excludes recklessness in actions.. All people experience fear to one degree or another.. When they are not afraid, then they risk going to the other extreme, and the consequences of reckless actions, in its turn, can provoke new fears.

95% mistakes in trading stem from attitudes towards failure, own wrong, missed opportunities and bad habit of not clearing money from the table on time.

If a trader is afraid of a mistake, fear so distorts the perception of incoming information, what, eventually, a mistake will be made. When a trader is in fear, then he obviously lost. He can no longer assess opportunities and act adequately, because fear paralyzes the will. On the physical plane, this is expressed in lethargy., freezing in place or running away from the trading terminal. At the level of consciousness, this leads to a narrowing of the focus of attention., which focuses on the fear-inducing object. This means blocking any thoughts about other opportunities and making it difficult to perceive information coming from the market.. A person is no longer able to rationally think about everything., what have I learned in the market, and this state will last until then, until the fear passes and the event comes to a natural conclusion, it caused.

The source of all these problems is our own unreasonable approaches to trading.. It is because of this that fears are so insidious. Many stereotypes of thinking, negatively affecting trade, reflect that, how we were taught to think and perceive the world. They're rooted so deep, that it is difficult to recognize in them the source of all difficulties. It is much easier to look for the causes of problems in the external - in the market; seems, that it is he who causes traders pain and suffering.

Most traders are unlikely to bother with this kind of abstract thinking.. but, understanding all the intricacies of the relationship of beliefs, approaches and perceptions are very important for trading. Without understanding and control over the perception of market information, it is impossible to achieve stable results in trading..

To complete a successful transaction, there is no need to know everything about yourself and the market.. Consistent results require sophisticated technique. This is one of the hardest aspects of learning to trade effectively.. If the trader does not understand or understand, how his beliefs and attitudes affect the perception of market information, then he will inevitably blame the market for the instability of his results. Consequently, the way out of the situation will seem to be a more thorough study of the market.

This logical conclusion turns out to be a trap for many traders.. This approach turns out to be useless in practice.. The market brings too many variables to the attention of traders, sometimes conflicting with each other. Market behavior is unlimited. Anything can happen on it at any moment., anything. Since every person who trades in the market is in a certain sense a variable, one might say, that the actions of any trader can entail unpredictable consequences.

No matter how much you study the features of market behavior, no matter how much you hone your analysis skills, all the same, it will never be possible to foresee all the options for the development of the situation. Therefore, the fear of getting screwed up, being wrong and losing money means the fundamental impossibility of gaining knowledge and skills, sufficient to, to counterbalance the negative impact of fears on a trader's ability to remain objective and act without hesitation. The harsh and harsh reality of trading is the uncertainty about the outcome of every trade.. Until, until the trader is able to completely come to terms with the unpredictability and uncertainty of the result, knowingly or unknowingly, he will try to avoid any opportunity, which is fraught with the threat of stressful situations. Moreover, in the process, he will probably make a bunch of costly mistakes..

Market analysis should not be considered a panacea for all traders' ills and a way to achieve stable results.. He can't solve problems, resulting from lack of discipline, insecurity or inability to concentrate.

There are two options for action. You can try to eliminate risk by examining as many market variables as possible.. On the other hand, can, making adjustments to the trading process, take the risk completely and stop being afraid.

Upon reaching a state of consciousness, in which the risk is actually accepted, the ability to negatively define and interpret market information disappears. Eliminating the ability to define and interpret market information in a negative way will negate the tendency to explain everything from a rational point of view., hesitate, outstrip events, hope so, that the market will share money or save you from the consequences of holding a losing position.

While the trader is prone to common mistakes, committed due to excessive craving for logical justifications of what is happening, hesitation and haste, he won't be able to trust himself. Lack of confidence in the ability to adhere to an objective view of things and always act according to their own interests makes it almost impossible to achieve stable results. Trying to do something, seemingly simple at first glance, could end up as a disaster. The irony is, that once you have the right approach and the formation of a trading mindset, a trader will be able to remain calm in the face of chronic uncertainty, and trading suddenly becomes so easy and enjoyable, what he thought he was before, how did you start trading on a real account?.

It is necessary to learn these approaches and form such beliefs about trading., which will allow you to trade, without feeling the slightest fear, but at the same time keep yourself within strict limits and avoid rash actions.

A successful trader is a future projection of oneself after growth, which implies expansion, learning and developing new ways of self-expression. – Mark Douglas

Trading is an activity, which offers a person unlimited freedom of creative expression, which most people lack in everyday life. Almost all the rules that exist in the trading environment are created by the traders themselves.. There are not many restrictions on the market, setting a framework for human expression.

Almost all traders need a correction of consciousness, regardless of their level of education., intellectual abilities and that, how successful they have trading experience. Such work on oneself implies the formation of an internal mental structure., ensuring the maintenance of an optimal balance between freedom of action and the existing potential of the environment, which is fraught with both financial, and psychological damage as a direct possible consequence of this freedom.

Forming such a mental structure is not easy.. For those, who wants to become traders, the process of developing appropriate thinking is inevitably complicated by the opposition of all that, what has accumulated in consciousness from the earliest stages of life.

Curiosity at its most basic level is strength. It's a force from within, thanks to which there is no need for additional motivation when learning. There is something inside each of us, defining direction of the process of our cognition.

Things become objects of natural attraction, in which a person has a genuine interest. Our vast and diverse world offers many opportunities for knowledge and experience.. However, it does not follow from this, that we have a spontaneous desire to know and experience our best. There is some kind of internal mechanism, making us naturally selective.

Conflicts, which are based on the discrepancy between the internal psychological given and the conditions of the external environment, happen all the time. Our needs and desires are generated in the environment of consciousness, but are implemented in the external environment. The harmonious combination of these two environments means maintaining internal balance and experiencing a feeling of satisfaction or happiness.. When the harmonious interaction of the internal environment of consciousness and the external environment is disturbed, a person usually experiences dissatisfaction, anger, disappointment - in general, all that, what is commonly called emotional suffering. Recognizing a need or desire, we strive to fill the vacuum through our experience in the external environment. Failure to obtain an object of desire or satisfy a need leads to a feeling of inadequacy..

To work successfully in the environment of financial markets, a person needs certain rules and restrictions, which help to manage actions. An obvious property of trading is the inherent risk of inflicting immeasurably greater damage on the trader., than he can imagine. There are many types of deals, the risk of losses for which is practically unlimited. To avoid disaster, it is necessary to form a special internal structure of mental discipline and build a perspective, which would put behavior at the service of the interests of man. Such an internal structure must exist in each of us., since the market, unlike human society, does not create it.

The structure of market functioning takes the form of behavioral models, indicating the possibility of buying or selling. From the perspective of an individual trader, there are no formalized rules, determining its behavior. The matter is complicated by the lack of concepts of the beginning in trading., middle and end, which are present in literally all other types of activities that are familiar to us.

This is an extremely important property of trading.. Prices change even then, when markets are closed. There is no rule, at which the opening price of the day must coincide with the closing price of the previous trading session. None of that, what does a person do in everyday life, cannot be useful in preparing for effective work in a limitless market.

In trading, no one forces you to decide, how much money who should risk when making a deal. Dealing with an unlimited environment here, where anything can happen at any moment. Only stable successful traders are in the habit of calculating risk even before entering the market.. For everyone else, a preliminary definition of risk means facing reality, according to which the outcome of each trade is probabilistic, that is, the deal may fail.

Chronic losers do their best to, to get away from accepting reality, according to which, no matter how good the deal looks, you can still lose a lot on it. In the absence of internal structure, forcing a trader to think differently, he continues to be vulnerable to all sorts of excuses, justifications and skewed logic, allowing him to believe when opening a position, that it cannot be unprofitable, and this belief makes the preliminary calculation of risk unnecessary.

In trading, prices are in constant motion, the trader himself determines the moment of opening a position, is in it until then, as long as he pleases, and closes the deal, when it sees fit. Regardless of, what was planned, in the future, various psychological factors may appear, who can distract, to confuse, catch up with fear or, vice versa, make one believe in one's own invulnerability, in other words, provoke a trader into indiscriminate and unintentional actions.

There is no formal ending in trading. The market cannot get the trader out of the trade. If consciousness is not properly structured and does not allow you to complete the deal in a profitable way, a trader can turn into a passive loser. Staying in a losing position, nothing needs to be done, to keep losing money. You don't even need to watch the price change. You can simply ignore the situation - the market itself will take all the money of such a trader.

Unlimited properties of the market environment require action, somewhat restrained and controlled, at least, if a trader expects stable success.

Main, what attracts in trading, - this is unlimited freedom of creative expression, what is the main reason, forcing traders to resist creating all sorts of rules and restrictions, which would appropriately define behavior. The need for rules makes perfect sense. Overcoming internal resistance to building trading rules and subordinating your actions to them is accompanied by painful experiences - such is the price, which you have to pay for the formation of an organized trading system, complying with all principles of money management.

Never known in advance, how much effort will it take for a trader to neutralize the negative impact of rejected impulses on his ability to form skills, mandatory for success in the field of trading.

Trading can be defined as a clear and distinct choice, with immediate effect. Traders, not ready to take responsibility for the consequences of the interpretation of information and the actions taken, find themselves stranded: how to work in the environment, allowing complete freedom of choice, and at the same time be able to avoid responsibility if the result does not meet expectations?

The harsh reality of trading is, that in realizing the desire for stability, one must first agree with the, that regardless of the outcome of the transaction, the trader is entirely responsible for the outcome. Few are ready for this level of responsibility even before, how to decide on a career as a trader. A way of avoiding responsibility is to adopt a haphazard trading style.. Unsystematic trading refers to poorly planned trades, which are executed without any pre-developed plan at all. Such a disorganized approach, excluding an unlimited range of market variables, does not allow to find out, what works steadily and bears fruit, what doesn't work.

Lack of system can be defined as unstructured freedom without responsibility. Opening positions, not planned in advance and not taking into account an unlimited set of variables, easy to credit yourself with successful deals (because there was some justification for their execution). In the same time, it is very easy to relinquish responsibility for unsuccessful trades (because there are always variables on the market, which we do not know about and, hence, we cannot take into account in advance).

It is very difficult to find an explanation for the unsatisfactory results. At the same time, the blame for failure on an unplanned trade can easily be blamed on a friend or broker., who suggested something wrong.

There is one more property inherent in trading, simplifying disclaimer in favor of haphazard trading: any deal has the potential for profit, and a very large profit. This money can end up in a trader's pocket regardless of whether, is he a world-class analyst or the worst expert in the world, does he take responsibility or walk away from it. A disciplined approach to trading is hard to come by, its formation requires serious efforts. But one can easily dodge this kind of mental work in favor of an undisciplined and haphazard approach..

The problem with any addiction is, that she leaves the person no choice . How much addiction dominates consciousness, so the focus of attention and efforts are directed to her satisfaction. People are powerless to do something, except to satisfy the need, addicted to. Dependence on random wins is especially detrimental for traders., as it turns out to be another source of opposition to the creation of a mental structure, promoting stability.

The market can seem like a social area, because a huge mass of people are involved in its work, but this impression is false. If in modern society people learn to take into account the interests of others, then for the market environment, although an integral segment of modern society, psychological wildness is characteristic - here everyone is for himself, be it man or woman.

It's not just about market dependence, from which they expect to wait for one or another price movement, but also that, which is extremely difficult, if not impossible, monitor or control his actions.

One of the fundamental reasons for the catastrophic failures in the market for so many successful people is that, that they owe their victories in part to a refined ability to manipulate and manipulate the social environment, get what she wants. The market does not respond to attempts to manipulate it (certainly, if you are not the head of the central bank).

It is in the trader's power to control the perception and interpretation of market information, as well as your own behavior. Instead of trying in vain to control the environment and bring it in line with your ideas of reasonableness or truth, you can learn to control yourself. Taking control of your own mind, you can perceive information from the most objective point of view and structure the mental sphere in this way, so that actions are always in the best interests.

Taking responsibility for trading results is inextricably linked to learning the principles of achieving sustainable success.. It is necessary to thoroughly understand that, what is the trader responsible for, striving for success. Only after this will it be possible to master the qualities, which will allow you to enter a small group of selected market participants, whose results are stable.

Willingness and willingness to learn, fueled by the desire for success - these are the tools, which a person will use when creating a new version of his persona. To unleash the potential of all possibilities, lying in front of the trader, the primary task is to teach the way of thinking, typical for successful traders. The mindset of the best traders is unique. They managed to acquire a special structure of consciousness: On the one side, it allows you to trade without fear and avoid mistakes made in a state of panic, but, in the same time, protects from recklessness in actions. This type of thinking has several components., but the key point is, that a successful trader virtually completely neutralizes the effects of fear and recklessness on their trading.

Overcoming feelings of fear is only half the battle. The next step is to develop restraint and self-control.. Successful traders know the role of inner discipline and mental mechanisms, counteracting the negative effects of euphoria and self-confidence, which you easily fall into after a series of profitable trades. It's dangerous for a trader to win, if he has not learned to track and control his emotions.

Most traders instead of thinking like traders, think about, how to make more money with advanced market research. It's almost impossible to avoid this trap. There are many psychological factors, pushing to think about, that losses and volatile results can be attributed to a lack of understanding of market mechanisms. However, in reality, everything is different.. Stability should be sought in the mind of the trader, not in the market.

The right approach to trading can bring much better results, rather than the most sophisticated technique. Ideally, it is good to have both, and others, but in reality it is not necessary, because if the mindset is correct, then the whole trading process turns into a fairly simple task, enjoyable.

The mindset of most traders at the very beginning of their careers is closer to ideal, than at all other stages. Many people start trading, having a far from reality understanding of the inherent dangers of trading. Since this state of consciousness is inherently creative, the trader risks losing it instantly, as soon as he begins to reflect on his actions at a rational level.

Several successful deals in a row does not mean, that a person has already taken place as a trader, but it's a good way to feel like that, having experienced a state of consciousness, where only successful traders can stay on a permanent basis. Feeling self-confident, unencumbered by fear and anxiety, it is not difficult to carry out a number of successful transactions - after all, we managed to catch the natural rhythm, and all the necessary actions seem obvious and indisputable. In any field of activity, success is, mostly, function of our attitude to that, What are we doing. Most people do not understand the degree of dependence of the result on the mood.

And the complexity, and the charm of trading is, that for success it does not really need a special kind of skills - you just need to have the appropriate attitude. Experience in the execution of several successful transactions in a row makes you feel like a winner, and this feeling in itself contributes to the continuation of the winning streak. This is why a beginner trader may well qualify for a good successful streak., for which the best market analysts would give a lot. Analysts have knowledge and skills, but there is no winning attitude. They act out of fear.. The newcomer experiences a sense of victory, because he is not afraid. But this does not mean possessing this attitude - he just has not had to experience pain yet., which would make him afraid of a repetition of this pain.

Sooner or later, no matter how positive the beginner's feelings are, he will have to learn the bitterness of defeat and the feeling of his own wrong. Losses and mistakes are the constant companions of trading. The combination of the most positive attitude and the best analytical talent in the world will not be able to protect a trader from a losing trade.. Markets are too volatile, and there are too many variables on them, take into account that no one can, and there is no trader, who always and in everything turns out to be right.

The trader owes its stable success to fundamental changes in the approach, not brilliant guesses about price movements, as most people mistakenly believe. This misconception prevails among traders., as few of them are capable of realizing the critical importance of proper approach to the process of achieving sustainable success.

Failure will leave the novice trader discouraged and emotionally distressing.. This will affect trading. He will surely lose his state of carelessness and a feeling will appear, that the market is deliberately hurting him, robs the winning spirit, thereby dooming him to failure.

Most of the people working in the financial markets consider themselves mature personalities, with a sense of responsibility, but only the best traders reach the level of development, implying full responsibility for the outcome of each transaction. Everyone else, to one degree or another, tends to pretend, that they are responsible, but in reality they want, so that the market is to blame for the failures. The typical trader expects the market to fulfill all his expectations, hopes and dreams and happily blames him for failures.

The only way to make money in the market is through the failure of another trader., whether it is a loss of real money when trading futures or a missed opportunity, as in the case of the stock market. Everytime, opening a position, trader wants to make money. All other traders enter the market for the same reason. Considering the relationship with the market from this point of view, it can be argued, that the purpose of traders' actions is to make profit from it, but the opposite is also true: the purpose of the market is to deprive traders or money, or the opportunity to earn them.

If the market is a group of people, interacting on the basis of the desire to withdraw money from each other, then what kind of responsibility of the market to an individual trader can we talk about? The market's only duty is to comply with the rules it has set itself., designed to facilitate efficient trade. If ever a trader had to feel resentment about the market or feel cheated by it, means, he didn’t understand enough of the meaning of participation in a zero sum game. Any accusations against the market means a misunderstanding or rejection of that, that the market owes nothing, regardless of the thoughts of traders in this regard and the volume of efforts spent on trading.

Taking responsibility as a trader means recognizing and accepting at the deepest level of identity, that only he - he, and not the market - it is completely and completely responsible for the success, and for market failures. The price movement is the collective action of all active market participants at that time.. The market generates information about itself and thereby greatly facilitates the process of opening and closing positions.

From the perspective of an individual trader, price movement, available information on this matter, the very possibility of opening and closing a position is a chance to correctly determine the time and conditions for entering and exiting the market. At any time, while markets are open, a trader can open a position, partially close it, add to it or leave it. All this is nothing, as an opportunity to accumulate capital by fixing profits or, at least, limitation of loss.

Failure to take full responsibility leads to the formation of two barriers to success.

Firstly, there is a risk of taking an aggressive position towards the market and thereby cutting yourself off from a constant stream of opportunities. Averted Luck Can Trigger Pain, anger, insecurity, indignations. If the market appears to be an endless stream of entry and exit opportunities, and at the same time the trader does not torture himself with self-criticism and regrets, means, his state of consciousness allows him to act in his own interests and learn from experience. On the other hand, if a trader's perception of information coming from the market is associated with experiences, it is only natural to try to avoid pain by knowingly or unconsciously blocking this information.. In the process of such a blocking, he will constantly miss opportunities for making profitable trades..

Secondly, can be misled, according to which trading problems and lack of success can be overcome through more thorough market analysis. The only way to get revenge is to defeat the market., and the weapon of victory is, as traders believe, knowledge. In other words, the main motivation of the aspiring knowledge trader - a beginner is the desire to take revenge on the market, to prove something to him and to himself and, the most important thing, don't let him get another painful blow. He studies the market for the wrong, to achieve sustainable results, but to dodge new attacks or prove something, unrelated to the objective perception of the market. As soon as the trader admits the thought that, that knowledge of the market can help it avoid suffering or satisfy the need for revenge, the fate of a loser can be considered a foregone conclusion.

There is an insoluble contradiction here. The beginner learns to identify and understand the principles of operation of market patterns of collective behavior, which in itself is not bad. At the same time, the trader is experiencing a certain uplift.. He draws inspiration from the thought that, that a better understanding of how the market works will ultimately lead it to victory. As a result, the pursuit of knowledge begins, study of trend lines, graphic models, resistance and support levels, Japanese candles, dot-digital plots, wave Elliott, Fibonacci retracement levels, oscillators, relative strength index, stochastics and many other indicators of technical analysis, the number of which is so great, that you don’t remember everyone.

Having deepened their knowledge, the trader begins to experience difficulties in executing trades. He hesitates, trying to get ahead of the course of events, or, against, refrains from opening a position at all, despite clear signals, indicating the possibility of a transaction. It would seem that, the trader has completed the task, doing that, what was going: he perfected his skill in market analysis, but it turned out, what, the more he knows, the harder it is to take advantage of, which gives him knowledge. He will never believe, what was wrong, deciding to learn more about the market, since the problem is, that the decision was incorrectly motivated. No one is destined to achieve sustainable results, if you try to prove something to someone. The person finds himself in a quandary, when his mind is tuned to avoid worries and losses.

The pursuit of constant replenishment of knowledge about the market as an attempt to avoid losses will only exacerbate the problems: after all, the more the trader learns, the higher the bar of his expectations rises, and this leads to an exacerbation of negative experiences with inevitable failures. In this way, inadvertently creating a vicious circle: the more the trader learns, the more exhausted he feels; the more emaciated he gets, the more I have to strive for new knowledge. There are only two ways to break out of this circle.: or quit trading, either admit, that the root of the problem is not in the quality and volume of knowledge, but in my own point of view.

It must take some time until then, until the trader decides to throw a white towel into the ring, or, finally, will find a way, leading to success.

One of the hardest things to understand is, that the market is unable to influence the state of consciousness of the trader - it just plays the role of a mirror, reflecting the inner content. A trader feels confident because of the wrong, that the market makes him feel it, but simply the trader's convictions and his approaches allow us to move along the path of improving skills, take responsibility for the result and benefit from your own experience. The trader maintains a state of confidence, constantly learning new things. And vice versa, experiencing emotions of anger or fear, when assigns certain responsibility to the market for the results of trading.

A missed profit-taking opportunity leaves a more unpleasant aftertaste, rather than a closed trade. In case of failure, there are always ways to avoid responsibility., putting it on the market. But you can't blame him, that a profitable trade was closed at the wrong time. After all, the market has done nothing wrong, against, he behaved this way, as the trader wanted, but for some reason he was unable to take advantage of the kindly provided opportunity. In such circumstances, it is impossible to get rid of stress through rationalization..

The trader is not responsible for, that the market behaves like this, and not otherwise, but for everything else, related to trading activity, he is responsible. It is the trader who is responsible for everything, what can he do, and that's why, what have not yet learned. The shortest way to discover that, what is required for successful trading, is to create a victorious mood, thanks to which the trader tunes in to a creative point of view. A victorious attitude will not only make it clear, what a trader needs, but will also create the basis for a mindset, most suitable for opening something, what nobody knows yet.

Building a winning mindset is the key to trading success. The problem for many traders is, what they either believe, as if you have already developed the mindset of a winner, either expect, that the market will help them shape it, endowing with a series of profitable trades. The trader himself is responsible for the formation of the winning mood. A good understanding of the market will give the trader a competitive advantage, necessary for the execution of profitable trades, but a competitive advantage will not turn a person into a consistently successful trader, if you lack a winning spirit.

Some traders fail due to insufficient knowledge of the market, as a result of which their trading decisions often turn out to be wrong. However, traders with a loser mindset make the wrong move regardless of whether, what do they know about the market. Anyway, the result is always the same: they fail. Winning Mindset Traders, who literally know nothing about the market, able to make profitable trades, and if they also have knowledge, then their trading results improve dramatically.

Aiming to achieve a professional level and stable results, first of all, one should proceed from the fact, that the solution should not be sought in the market, but in my own mind.

Trading in the market can actually be easy and enjoyable for the trader.. Will trading become consistently easy, depends on the characteristics of perception, beliefs and mindset.

Consistently successful traders owe their consistency to the natural expression of their self. They don't have to make an effort to achieve stability - they are already stable. The most successful deals were easy and effortless.. There was no point in trying to make it easier for yourself to fulfill them - with them everything was simple anyway. No fight was required.

The best traders manage to stay in the flow, because they have no material claims to the market, they are open to opportunities and therefore able to take advantage of, what the market offers at one time or another.

To gain stability, you need to learn to think about trading in this way, to overcome dependence on conscious or subconscious processes of consciousness, provoking blocking, masking and selective perception of information, on the basis of which you can feel happy, get something, what are we striving for, or get away from the pain.

The threat of stress generates fear, due to which 95 percent errors. Constantly making mistakes, it is impossible to achieve stability of results or continue to be in the flow - and the trader will inevitably be wrong until then, while fears that, that his wishes and expectations will not come true. Everything, what will he try to achieve as a trader, will not be difficult, but with the fight, and it will seem, that the market is fighting personally by a trader or a trader with the market. But in reality, all this happens in the human mind.. The market itself does not perceive information, which generates, - the person perceives her (trader). The struggle takes place within the trader, he fights his fears and tries to break internal resistance.

Learn to think about trading this way, to stop being afraid and thereby eliminate dependence on mental processes, which force to block, obscure information or treat it selectively, you need to learn to accept risk.

Most traders tend to mistakenly consider the very fact of their involvement in risk-related activities as evidence of, that they take risks. It has nothing to do with reality.. Risk taking is about accepting internally the consequences of a trading activity without any emotional discomfort or fear.. It means, that a person should learn to think about trading and about their relationship with the market in this way, to be able to be wrong, lose money, to miss a chance to enter the market or not to withdraw profit in time would not lead to the activation of protective mechanisms, removing a trader from the stream. No good comes from taking the risk of opening a position, if the trader is afraid of the consequences, because fears will affect the perception of information and behavior in this way, which can lead to the implementation of exactly that, what a trader would most like to avoid.

Opening up to opportunities, the trader does not impose any restrictions on the market behavior and does not associate his expectations with it. He is completely satisfied with any price movement. The mindset does not depend on the behavior of the market, and therefore the trader will not be affected by any scenario of the development of events.

Learning to enter a state of consciousness, unaffected by price fluctuations, the trader will get out of the fight. The war will end. With the end of internal confrontation, trading becomes easy.

Many things related to trading seem reasonable and logical., not really being. Any trading-related fears, as well as trying to get involved in the fight, will push the trader out of the flow and, hence, adversely affect results.

This is where the line lies, separating professional traders from the crowd. Taking the risk so, how a professional does it, a trader will no longer perceive anything that is happening on the market as a threat. well, and if nothing threatens, then there is nothing to be afraid of. If a person is not afraid, then there is no need for courage. If the trader does not experience stressful conditions, what are nerves of steel for?? And if you do not fear your own ability to act recklessly and trust the appropriate monitoring mechanisms, then there is no need for self-control. Traders, who managed to eventually overcome this difficult stage, learned to accept responsibility and risk.

Achieving an unburdened and fear-free state of consciousness is not so difficult., as it might seem at first glance, although the path to it takes effort, And, until you reach your goal, you will have to burn yourself more than once. The main difficulty here is recognizing the presence of an error and finding it..

It is possible to neutralize fears, but any effort requires a motivational basis.

The market does not produce any positive, no negative information. From a market point of view, this is just information.. It may give the false impression that, what exactly the market determines the well-being of a trader at one time or another. The perception of information depends solely on the characteristics of the structure of consciousness.

Professionals do not consider everything from the market to be potentially dangerous, and therefore there is no threat to them at all. And in the absence of a threat, there is no need for protection. In such a situation, the conscious and subconscious defense mechanisms are inactive., thanks to which they are able to see and do things, confusing other traders.

Professionals are in the stream, because they are able to perceive a cascade of possibilities: so, out of flow, the best of them can correctly assess the situation and react accordingly, that is, reduce risks to a minimum or refrain from trading altogether.

If the trader's goal is to achieve a professional level, then he must look at the market from an objective point of view, distortion-free. He must be able to act without hesitation and not experience internal resistance., but, in the same time, exercise some restraint, necessary to neutralize the effects of a self-confident and euphoric mood. As a matter of fact, the goal is to form a one-of-a-kind way of thinking - the mentality of a trader. When the trader achieves this, everything will immediately fall into place.

The trading process begins with the perception of an opportunity. Without the perception of opportunity, we will have no reason to trade.

Thoughts are energy. Everything, being energy, has the potential to act as an expressing force. Most of us have no idea, to what extent we are surrounded by invisible possibilities, embedded in the information generated by the environment. Most of the time, we will never know about them., and they remain hidden. The problem is, that we do not perceive that, what have not learned, except in cases, when we find ourselves in a completely new situation for us and act on the basis of absolute openness. To learn something, we must have a corresponding experience. We find ourselves in a vicious circle, preventing the acquisition of new knowledge. All people have such closed circles of perception - this is a natural consequence of the reflection on our feelings of the ways of self-expression of mental energy.

Each of us more than once had to witness that, that people were overwhelmed by panic in situations, That, from our point of view, did not bode well. Maybe, we never spoke about it out loud, but this behavior seemed to us, to put it mildly, irrational. Attempts to calm down scared people and explain, that there is no danger, led nowhere.

A successful trader would point out, that the beginner's fear is irrational by definition, because this momentary opportunity has nothing to do with the last trade. The outcome of each trade is probabilistic and statistically independent of the rest.

One person's perception of risk can be seen by others as an example of irrational thinking.. Risk is always relative, but man, who has to evaluate it at a given moment in time, he always seems absolute and undeniable.

How to deal with fear? A certain degree of similarity is enough for the formation of an associative connection in the brain. The natural tendency of consciousness to associate is a subconscious mental function., operating in automatic mode. Consciousness for different people works in about the same way., but, in the same time, each person has one of a kind, individual characteristics. The degree of discomfort or emotional pain experienced is directly proportional to the severity of the injury., obtained as a result of the first negative event. That, what happens next, psychologists call projection. The next time a similar situation occurs, all negative emotions are projected in the mind.

One of the main goals, facing the trader, is the perception of the opportunities provided, not fear of the threat of experiences. To learn to concentrate on opportunities, should be able to clearly recognize and understand the source of the threat. And this is not a market. The market from a neutral position generates information regarding the possibility of price movement. At the same time, it provides (observer) countless opportunities to act according to their own interests. If the perceived at one time or another makes the trader feel fear, he needs to ask a question: is the information dangerous in nature, or is he simply experiencing the effect of the reflected state of his own consciousness?

Agreeing, that generating positive or negative information is not an inherent characteristic of the market, feature of his self-expression, it is not difficult to come to the idea, according to which information becomes negative or positive exclusively in your mind , since this is the function of the information processing process. In other words, the market does not force the trader to focus on loss and suffering or profit and pleasure. Information becomes negative or positive due to a subconscious mental process.

Our reason constantly associates external (information) so, what is already present in the mind (what do we know), which makes it seem, as if the external circumstances are exactly the same, like memories, beliefs or beliefs, with which these circumstances are associated. As a result, in the first scenario, after several unsuccessful trades, the trader evaluates the next signal, marketable, how too risky. His mind automatically and unconsciously associates the present moment with recent impressions., received when making unprofitable transactions.

The associative connection evokes the memory of the pain experienced, plunges into a state of fear and makes you perceive the information coming from the market in a negative way. Seems, that the market expresses itself through threatening information, and therefore the hesitation of the trader, undoubtedly, justified.

The same process forces one to perceive the situation from an overly positive point of view only because, that before that three deals in a row were closed with a profit. The association between the present moment and the elation caused by recent victories creates an overly positive, euphoric state of consciousness, thanks to which it begins to seem, as if the market provided a risk-free opportunity. Certainly, this justifies taking on increased financial obligations.

Many mental models, to which traders owe their mistakes and failures, are so obvious and ingrained, that we will never think of, that the success of a trader is primarily determined by the style of thinking. To achieve stability, understanding, awareness and training in the art of overcoming the natural tendency to associative thinking. Developing and maintaining a state of consciousness, allowing to perceive the flow of emerging opportunities in the market, without fear of the threat of emotional distress or self-confidence problems, requires the trader to consciously control the process of associative communication.

Most traders' perception of the level of risk, inherent in a particular trading situation, due to the result of the previous two or three transactions. Good traders avoid outcome impact (negative or positive) their latest deals. Consequently, their risk perception is free of the personality psychological variable.

If there is a secret to trading, then it is, that the key success factors are: Firstly, trading without fear of being trapped in overconfidence; Secondly, perception of, what is offered by the market at a given time; third, ultimate concentration on the flow of momentary opportunities; in- fourth, ability of spontaneous, direct entrance to the zone, strong and unshakable belief in the favorable nature of the future result.

The very best traders have developed to the level of, allowing them to have absolutely no doubt, while avoiding internal conflict, even with the knowledge that, that anything can happen. You can't tell about them, that they simply suspect the potential development of events in any direction and useless chatter about this topic. Their awareness of current uncertainty (neutrality of information supplied by the market) so powerful, which saves the mind from an undesirable association of the current situation and data of specific market circumstances with the results of recent transactions.

By avoiding such an association, they will keep consciousness from unrealistic and inert ideas about possible scenarios for the development of the market situation. Instead of generating unrealistic expectations, which usually result in emotional pain and financial loss, they have mastered the art of making themselves available to the perception of possibilities, provided by the market at any given time.

This openness clarifies the perspective., allowing you to understand the limited potential of the information received. Our brains are not able to automatically capture all the possibilities., existing on the market at any given time. In trading, this kind of blindness of perception happens all the time.. Traders are unable to fully perceive market opportunities and move in a direction unfavorable for an open position, if they are afraid of being wrong.

The fear of admitting one's own wrong leads to, that traders grab onto any information, indicative of an open position, and give it too much importance. This happens even when the opposite kind of information is received., indicating the formation of a market trend, whose direction is by no means favorable. Having a clear trend in the market usually helps to recognize market behavior and read the situation., but, when traders are gripped by fear, the trend turns out to be invisible. The current trend in the market and the ability to trade in accordance with it remain "invisible" (that is, not perceived) until, while the position is open.

There are many possibilities, which traders miss, because we have not learned to recognize them.

An approach, which helps to open up, gives an understanding of their own advantages, able to lead to success, however, the trader fully accepts the fact that it is impossible to predict the outcome of a particular transaction. Consciously open to that, what will happen in the near future, trader abandons automatic thought process, generating false knowledge of the course of events. Adopting this approach, he relieves consciousness of internal opposition, able to interfere with the identification of trading opportunities, provided by the market. Consciousness is open to the exchange of energy. Not only did hitherto unknown aspects of the functioning of the market open up - mental conditions were also created, highly conducive to entering the zone.

The essence of being in the zone is the synchronization of the consciousness of the trader and the market. Consequently, the trader begins to feel the intentions of the market so keenly, as if the line between him and the collective consciousness of the rest of the participants in the market process is disappearing. The zone is a mental space, being in which, the trader not only reads the information of the collective consciousness, but also in complete harmony with her.

Any action appropriate to the circumstances requires faith and clear, clear intention, which will allow you to keep the concentration of consciousness and feelings. If the nature of our actions is creative, and rational thinking lacks training, which would allow you to trust the source of action, our rational thinking will inevitably flood our minds with conflicting thoughts. All these thoughts, undoubtedly, will be pretty solid and reasonable, because they flow from knowledge, which we already possess at a rational level, however, they will push us out of the zone or out of some other creative state of consciousness.. Few things compare to disappointment, comprehending man, when he, recognizing the course of events through intuitive insight, refuses to follow it, and misses a great opportunity, dissuading yourself from taking action.

Only a small part of people who decide to become traders bother to think about, what does it mean to be a market participant. Most believe, what, to be a trader, it is enough to become a good market analyst.

Nothing is further from the truth. A good analyst can contribute to trading success, while performing the auxiliary function, but market analytics truly do not deserve undue attention, mistakenly given to her by traders. Beneath the surface of easily identifiable patterns of market behavior are specific psychological characteristics.. It is the features of these psychological characteristics that determine, what a person should be, to operate effectively in a market environment.

Effective actions in the environment, differing in its characteristics from everything, what have we had to deal with in the past, require adjustments and changes in the style of thinking.

Traders often ignore the need for adaptation, without which they will not succeed in trading on the market. This happens for two reasons.. Firstly, no special talents and skills are required to make a profitable deal. Most traders only come to understand or admit after years of loss and suffering., what, to grab a random piece of money from the market, psychological resilience and consistency are much more important than any other abilities.

Secondly, in order to trade, it is not necessary to go to distant lands. The only thing, what a trader needs, –- in internet access. You don't even have to jump out of bed at dawn. Since traders have the ability to access the market directly from their habitat, with which they got used to and feel comfortable enough in it, seems, as if in terms of adaptation, trading does not require any special efforts.

In this way, not hard to understand, for what reasons so few people achieve success in the field of trading. The vast majority just don't do the mental work, necessary to smooth out conflicts, flashing in the meantime, what they have already learned and know, so, what you need to use to achieve success in trading. Past experiences and established beliefs resist new beliefs and concepts. In order to achieve a free state of consciousness, which is ideal for trading, and successfully use it in the process, you must first work carefully to overcome all these conflicts.

The market is capable of anything, and at any moment of time. The problem is, that almost all traders tend to take this market feature for granted, which makes them commit the same fundamental trading mistakes over and over again. The bottom line is, what if traders really believed in the unpredictability of the market, at that, that everything is possible on it at any time, then there would be much less losers, than those, who has a positive balance on their trading accounts.

Why do traders move the price up or down? Because each and every market participant strives for profit. There are only two options for generating profit: or buy at the bottom and sell at the top, either sell at the top and buy at the bottom. Allowing the universal desire to make money, we can come to the conclusion, that a trader can drive the price up for only one reason: in view of that, that in the near future will be able to sell the recently purchased at a higher price. The opposite is true for the trader., opening a short position, which bets on falling prices. He believes in the prospect of a repurchase that suits him. (lower) price.

When looking at the market as a function of price action, that is, if the price behavior is a reflection of the actions of traders, it will be possible to say, that all price movements (market behavior) reflect traders' belief in the future, price movement is a function (mapping) belief of traders, what are the minimum and maximum values ​​of price fluctuations.

The underlying dynamics of the market are quite simple.. There are three forces in any market: traders, believing that, that the price is low enough; traders, consider it high; they, who is sitting and just thinking about, how low or high is the price. Strictly speaking, the third group represents potential strength. The reasons, at which traders consider the price too low or too high, absolutely irrelevant, because most of the traders in the market behave undisciplined, disorganized and acting at random. So hardly a reason, encouraging traders to open positions, help to understand what is happening.

Any price movement (or lack of movement) is a function of the relative balance or imbalance of the two driving forces: Traders, believing in the rise in prices, and traders, believing in, that the price will have to go down in the near future. If these two forces are approximately equal, the price is stagnating, since the opposition of each side absorbs the efforts of the other. In case of imbalance, the price moves in the direction, given by a more powerful force, presented by traders, whose confidence in the course of events is stronger.

The range of market behavior in its collective form is limited to extremely extreme, extreme ideas about the maximum and minimum prices, that any individual market participant has. Due to the extreme variability in the trading beliefs and visions of the future that are present in the market at any given time, literally anything is possible..

Any potential trader, ready for practical expression of his views on the future, becomes one of the market variables. On a personal level, this means, that it only takes one other trader to neutralize the positive potential of the trade, living anywhere in the world, it takes only one trader to deny the truth of the belief that, what is the minimum or maximum price.

From the point of view of an outside observer of the price, absolutely everything is possible on the market at any time, and all this can be done by just one trader. This is the brutal reality of trading, where only the best traders are able to successfully trade in the market and accept what is happening without internal conflict. Only the best traders constantly calculate risks before entering the market. The best traders do not hesitate to close losing positions at that moment, as soon as the market makes them understand, that the deal doesn't work. And only the best traders have a well-established method of taking profit., which they use strictly with a favorable price change.

Refusal to calculate risks before opening a position, refusal to timely close unprofitable positions, refusal of timely withdrawal of profits - these are the three most common mistakes of those, which is often done by traders. Only the very best traders are able to eliminate them from their trading.. At some point in their careers, they came to the conclusion that, that anything can happen on the market at any moment, after which they began to reckon with that, what they don't know, but what can happen at any moment.

The price is driven by only two forces: traders, believing, that the price will go up, and traders, considering, that the price will go down. You can always understand, who has the advantage at the moment: for this you need to compare the current price with the previous one. A clearly recognizable pattern has a chance of being repeated, and if the model of price behavior is repeated, we get a kind of indication of the direction of travel. This is our advantage, this is what, what do we know.

The best traders don't act like ostriches, don't bury their heads in the sand, pretending, that these hidden variables do not exist in nature, nor do they try to rationalize them through various kinds of market analysis methods.

In the case of the typical trader, the exact opposite happens.. The prospect of his trading completely ignores everything, what he cannot see and hear, and all, out of reach of his senses, for him simply does not exist.

A typical trader is far from understanding the need to develop an internal mechanism in the form of some powerful ideas, which will contribute to the perception of the market in terms of increasing awareness of its nature and features of its functioning, and also encourages the trader to act, always consistent with the nature of price movements. The most efficient and functional of all trading beliefs, which he may have, Is the belief that, that anything can happen . Not even speaking about, that it corresponds to the truth and will serve as a solid foundation for building a system of other useful ideas and rules of behavior in the market, without which it is impossible to imagine a successful trader.

The absence of this belief inevitably leads to, that the trader's mind makes him shy, block or through rationalization get rid of any information, indicating the likelihood of price movements, do not fit into the prevailing idea of ​​a possible. If he believes that, that everything is possible, there is no need for consciousness to block unwanted information. Everything is possible - and faith in this plays the role of an expansive force in the process of perception of market events., as a result of which the trader is susceptible to previously unperceived information. Essentially, his consciousness is opened to perceive new possibilities, new market prospects.

The most important thing is, that the assimilation of the idea of ​​the basic characteristic of the market teaches the mind to think in terms of probabilities.

The best traders understand that, which is extremely difficult for an ordinary trader to comprehend: events with a probabilistic outcome can lead to a stable result, if the likelihood of luck is favorable given a sufficiently high sample size. The best traders treat market trading like a numbers game, which is very similar to the attitude of casinos and professional players towards gambling.

They don't need to know, what will happen next time, they are not constrained in any way by expectations that do not correspond to reality, and they don't need to constantly prove their ego, that they are right. In such a situation, it is easier to focus on what, so as not to lose the advantage and work calmly, and the absence of emotional shocks helps to avoid costly mistakes. They are not tense, since we have already decided for ourselves, which will allow all probabilities to come true: they know, that with a sufficiently large number of behaviors, their competitive advantage will necessarily result in monetary profit.

Market analysis reveals behavioral patterns of collective actions of all market participants. Known, that in similar situations and circumstances, individuals act in the same way, thereby forming measurable patterns of behavior. Similarly, groups of people, interacting with each other for a certain period of time, create repetitive behavioral patterns.

Such collective behavioral patterns are detected and appropriately identified using analytical tools.: trend lines, moving averages, oscillators, correction levels and many hundreds, if not thousands, other indicators and methods of technical analysis, available to any trader. Each analysis tool uses its own set of parameters to define the boundaries of the identified behavioral model.. The parameters of the instrument and the identified boundaries can be considered market variables known to the trader.. In this way, each trader determines the rules of the game for himself. A trader's analytical tools can be considered known variables, which give him a competitive advantage when making a deal.

There are a number of unknown variables in trading, influencing the result of the behavioral model, and trader, identifying these variables, gains an advantage. All other traders are unknown variables in trading., who can be active in the market, opening or closing positions. Each trade contributes to market positioning, that is, every trader, making decisions on the basis of his ideas about the minimum and maximum prices, contributes to the collective behavior model.

From the moment you open a position until it is closed, there will be other traders on the market. They will act according to their own ideas about price highs and lows. At any given moment in time, the trading decisions of some traders work for the result, favorable open position, while the actions of others negate the advantage, which the trader used when entering the market. Due to the impossibility of predicting in advance the behavior of traders, and then, how their actions will affect the open position, the outcome of the transaction is uncertain. The reality is this, that the result of each transaction made by a trader in some way depends on the behavior of other market participants. In such circumstances, the outcome of all transactions is unclear..

Since the result of all transactions can be considered uncertain, then each trade should be statistically independent of the previous one, even if the trader uses the same set of known variables to gain a competitive advantage on every single trade. Further, if the result of each individual transaction is statistically independent of the results of other transactions, there must be an arbitrary, haphazard distribution of losses and profits in any series of transactions, even though, that the chances of successfully closing each individual trade are slightly favorable to the trader.

After traders master the ability to think in terms of probabilities, their view of the market remains virtually unchanged. At the micro level, they believe in uniqueness, uniqueness of each transaction and competitive advantage. Their understanding of the nature of trading is enough to realize that, that at one point or another the market may look exactly the same on the price chart, as in the previous moment, and geometric measurements and mathematical calculations, used to determine the advantage each time you open a position, may not change at all from transaction to transaction; at the same time, the market does not differ in real constancy, the accuracy of repeated actions is alien to him.

The exact repetition of any pattern requires the presence of all traders on the market., were in the market during the previous moment. Furthermore, they should interact with each other in the same way, accurately and absolutely synchronously repeating all your actions, and only in this way can you achieve the same result, as at the last market entry. The likelihood of such a development of events, needless to say, absolutely insignificant. This is practically impossible..

It is extremely important to be able to understand this rationally explainable phenomenon., because it is difficult to overestimate its psychological implications for trading. You can use a variety of tools to analyze price behavior and find patterns, giving the greatest advantage, and as a result get exactly the same models, as from the outside, and from a mathematical point of view. However, if the composition of the group of traders, whose actions are shaping the model now, at least one person differs from the group, which created the previous model, then, maybe, the result of the current model will be different from the previous result. Only one single trader required, whether it is in the Western Hemisphere or in the Eastern, with his dissenting opinion regarding the price high and low, and the competitive advantage will be nullified, and the model will no longer give the same result.

The most important characteristic of market behavior should be considered that, that every momentary situation, each momentary behavioral pattern, each momentary advantage is one of a kind, the outcome of which is unique and unrelated to other outcomes. The uniqueness of the event is due to the fact, anything can happen, anything, as predictable, so and so, what nobody knows. A constant stream of known and unknown variables creates a probabilistic environment, in which traders cannot know, what will happen next time.

Having trained the mind and mastered the ability to think in probabilities, the trader fully accepts all possible scenarios (without any internal resistance and conflict) and always takes steps to take into account unknown forces. Thinking in this way is virtually impossible without prior mental work., which will help get rid of the desire to always be right and the unnecessary desire to know, what will happen next time. The stronger the confidence, that the future course of events is known, or even a simple desire to know, what will happen in the near future, the more likely it is, that the trader will fail.

Traders who are capable of reasoning in terms of probabilities are confident in their abilities and in the success that awaits them., because all the transactions they execute meet their definition of competitive advantage. They don't try to take advantage, That, how do they think, can work well, likewise they do not give up the benefits, That, how do they think, won't work. Do they like this, their actions would conflict with the belief, according to which the momentary situation is always unique and creates a balanced distribution of failures and victories for each given sequence of advantages. Working in the market has taught them the inability to know in advance about, which of the benefits will work, which one is not. Traders value this knowledge, the process of finding which is always painful. They gave up their senseless and fruitless attempts to predict the future.. They figured out, that harnessing all the strengths, all the benefits leads to an increase in the sample size of transactions, which in turn makes it possible to realize a competitive advantage, just like in the case of the casino.

Unlucky traders strive for a sense of certainty., hoped to gain through analysis. Few admit it, but the truth is, what a typical trader wants, so that all his deals are successful. He tries desperately to create certainty there, where it cannot be by definition. Resigned to the lack of certainty, he will immediately create something, what is it striving for: he will definitely be sure, that there is no certainty.

After fully accepting the fact of uncertainty for every competitive advantage and uniqueness for every moment, trading will never plunge a trader into despair.. He will stop making common trading mistakes, which negatively affect the stability of results and undermine self-confidence.

The typical trader does not define risk in advance just because, that does not believe in the need for this. And the only reason, according to which he considers it optional, - belief in that, that he knows the future. While the trader doubts the future development of events, he remains out of the market, convinced in their rightness, he immediately initiates the position. The belief in a favorable outcome of the transaction makes it unnecessary to calculate the risk.

Typical traders exercise self-righteousness before entering the market, since the alternative (wrongdoing) absolutely unacceptable. When a trader is wrong with one trade, there is a danger of associative transfer of failure to any other (or the whole) trading experience, for all transactions, the result was negative. The consequence of this may be the establishment of an associative connection with any other event in the life of a trader., in which he turned out to be wrong. Considering the huge reserves of unexplained negative energy present in most people, feeling wrong, not hard to guess, why the value of any trade in the market can be inflated to the scale of the question of life and death.

For traders, learned to think in terms of probabilities, there are no psychological dilemmas. Preliminary risk calculation is not a problem for them., since they do not trade from a position of their own righteousness. They know, that trading has nothing to do with, to be right or wrong every time, when you enter the market. Therefore, their perception of the risks associated with trading is fundamentally different from the perception of typical traders..

Any brilliant trader (probabilistic thinker) can have the same amount of negative energy, how much does the average trader have. But since trading is quite rightly positioned by a successful trader as a game of probability, his emotional reaction to the result of any transaction will be equivalent to that, what a typical trader will feel, when, tossing a coin and betting on heads, he will see the rolled tails. Just a bad guess. For most people, this will not be a tragedy., will not cause a surge of pain and inappropriate association with all other life failures.

The market provides traders with information for thought at any given time. In which- in that sense the market is in communication with traders. Taking as a starting condition the provision that, that the generation of negatively charged information is not a characteristic feature of the functioning of the market, you can answer the question about, what makes the information negative?

Since the market is definitely not a source of negative information, the reason for it must be, how traders interpret or interpret incoming information. The process of decrypting and interpreting information reflects the idea that, what traders know, and the conviction of the truth of this knowledge. If knowledge and then, what traders believe in, really true, then when projecting beliefs into the future, that is, when they transform into expectations, traders would naturally be right.

Relying on my righteousness, a person considers any information contrary to his version of the truth as a potential threat. Any information, concealing a potential threat, can be blocked, distorted, or its importance may be diminished by our defense mechanisms. This is a characteristic feature of the functioning of human consciousness., who is actually doing a disservice. Being traders, people should not allow defense mechanisms to obstruct information coming from the market, on the basis of which decisions should be made about entering and exiting the market, partial opening or closing of positions, and all this is only because, that what is happening on the market does not quite correspond to the calculations and wishes.

The trader must adhere to the rules and be flexible about expectations. You should strictly adhere to the trading rules established by the traders themselves., which will allow you to gain self-confidence. This feeling of confidence will surely protect the trader when working in the market., where there are not many restrictions. You need to be flexible in handling your expectations, to be able to perceive messages from the market with the greatest possible degree of clarity and objectivity. The typical trader behaves in exactly the opposite way.: he is flexible with the rules and is always firm in his expectations. Interesting, what, the tougher the expectations, the greater the violation of the rules, which are committed due to the unwillingness to give up the desired in favor of, what is offered by the market.

Eliminating the emotional risk associated with trading requires neutralizing expectations about, what will or will not happen in the market at any given time, in a given situation. This can be achieved, if the trader is ready to analyze price movements from the point of view of the market. Don't forget, that messages transmitted by the market are always probabilistic. A trader's competitive advantage at the collective level can look impeccable in every way, but on an individual level, every trader with action potential can, influencing the price movement as a force, completely negate all the advantage of the other.

Thinking in terms of probabilities involves creating a mental structure, consistent with the deep principles of functioning of the probabilistic environment. When it comes to trading, the probabilistic mindset must take into account five fundamental principles (truths):

1. Anything can happen.
2. To make money, you don't need to know, what will happen next time.
3. For each given set of variables, which defines a competitive advantage, characterized by a random distribution of failures and successes.
4. Competitive advantage is nothing else, as an expression of a higher probability of the course of events developing in a certain way.
5. Every moment of the market is unique in its own way.

A trader's ability to experience stress depends on the definition and interpretation of incoming information. Taking the above five principles as a guide to action will lead to, that the trader's expectations will always correspond to the psychological realities of the market environment. Limiting ourselves to legitimate expectations, he will be able to neutralize the ability to identify and interpret market information as potentially dangerous and distressing, hence, neutralizes the emotional risk of trading.

It is necessary to create a mental attitude free from the rigid framework of prescription., allowing to fully accept the fact of constant activity in the market of unknown forces. After these principles become a functional part of the belief system, the rational segment of consciousness will protect them, how it protects all other human beliefs about the nature of trading. At least on a rational level, the trader's mind will automatically reject the idea or the very assumption of the possibility of knowing the future.. Need to understand and accept, that each transaction is a one-of-a-kind event with an unpredictable outcome and is not related in any way to any other transaction from the past. Cannot be believed, what is known, how events will develop after opening a position.

The uncertainty of the result gives an understanding, that literally anything can happen.

Trader, unsystematic result, difficult to get out of balance - he will not be too surprised by any market trick. At the same time, the expectation of a haphazard result does not at all mean a rejection of logical thinking., argumentation and analysis in order to plan the result, such a refusal does not mean the irrelevance or impossibility of guessing about the future development of events. All this is possible, because a good trader can do it. Furthermore, a trader can always be right. The only thing, what not to do, - expect it, that you really will be right. Closing a position with a profit, do not suppose, that next time it will work just as well, which has already borne fruit, even if the situation looks like, sounds and smells the same, as in the previous case.

The best traders always live in the momentary working mode., being in which guarantees protection from stressful situations. No stress - because the risk is limited to the amount of money, which they are willing to spend on a deal. They do not seek to be right or avoid misconceptions., as well as proving something to someone. If the market lets them know, that the competitive advantage has disappeared, or that it's time to take profit, their defense mechanisms do not block information. Fully accepting that, what the market offers, they are patiently waiting for the next opportunity, new competitive advantage.

At the basic level, the market is a series of up and down moves, forming price patterns. Technical analysis identifies such models as competitive advantages. Any single model, defined as a competitive advantage, is simply an indication of a higher probability of price movement in one direction or another. Each model is unique in its own way. Models may look the same, and their parameters are completely identical, but the similarity is only at the superficial level. By force, underlying each model, are traders, the composition of which, when forming a particular model, always differs from the previous one, and therefore each model obsoletes itself in a different way, and its result cannot be directly related to the result, obtained in past formations.

These competitive advantages or patterns representing them can appear on all time scales of price charts., turning the market into an endless stream of entry and exit opportunities, fixing profits, loss limits, adding new lots to already open and partial closing of positions. From a market perspective, every moment provides each of the traders with the opportunity to take action, aimed at making a profit.

What prevents the perception of each new moment as an opportunity to perform useful actions or prevents the adoption of optimal decisions then, when we do decide to act? Only fears! Their essence is, how traders interpret perceived information. Expectations are beliefs, which are projected into the future.

It is the state of consciousness that gives the character of the indisputable truth to all that, what is perceived from the outside. The mood of a person is always true., without any doubt! If a trader feels confident in his abilities, then he is confident. If he feels fear, then he is afraid..

A trader can know for sure, what does it look like, smells or feels a competitive advantage, and how much money he should risk to find out, will it work or not. He may also be aware of, that he has a specific plan of action to take profit in the event, if the deal works. But this is the end of it! When notions of existing knowledge begin to extend to the possible actions of the market, the trader is in danger.

Ultimately, the goal of everyone in the market is to, of course, making money. But trading isn't just about making money.. Making a profitable trade or even a whole series of profitable trades does not require any skills at all. To achieve stability of positive results and not lose it in the future, special skill required. Stable successes can be considered a by-product of developing and improving certain skills of consciousness.. The better a trader understands this, the less attention he pays to money itself and concentrates his efforts on, how to best use trading to master these skills.

Stability is a consequence of free, relaxed and objective mindset, allowing to adequately perceive what is offered by the market at this particular moment in time and take actions, relevant to the market perspective.

Under the free (careless) the mood of consciousness implies confidence in the absence of euphoria.

Objectivity is a state of mind, implying conscious access to everything, what a trader knows about the nature of the market environment. Defense mechanisms do not block or distort anything.

Always being at the service of the market means trading from a position, in which you do not need to prove anything to anyone. The trader does not try at all costs to make money or avoid loss, does not seek to recoup or take revenge on the market.

Trading at the moment means not being able to associate an entry opportunity, exit, adding or partially closing positions with past experience, which is present in the sphere of the trader's consciousness.

Full acceptance of the psychological realities of the market means, respectively, accepting the risks of trading.

Beliefs Form the Way of Living Life. People are not born with convictions. They are purchased later..

How beliefs affect a person's life:

• They control the perception and interpretation of information coming from outside as, so that it conforms to, what does a person believe in.
• They create expectations. Waiting is a belief, which is projected onto some moment of the future. Since one cannot expect that, what a person doesn't know, expectation can be considered knowledge, projected into the future.
• All actions, which a person decides on, as well as all external manifestations of behavior in accordance with existing beliefs.
• Beliefs provoke feelings, arising in a person in connection with the results of actions.

Beliefs are true:

• beliefs take on a life of their own and, hence, have the property of resistance to any forces, seeking to change their current form;
• all active beliefs require expression;
• beliefs continue to work regardless of, whether or not we are aware of their presence in the sphere of our consciousness.

The influence of self-esteem on trading results is extremely large.. The trading environment provides unlimited opportunities for capital accumulation. A sense of self-worth is inherent in every person..

Any guilt feelings a person experiences can adversely affect self-esteem.. Feelings of guilt are usually associated with feelings of worthlessness., worthlessness, and most people are of the opinion that, that a bad person deserves punishment and is certainly not worthy of a reward.

While trading in the market, these subconscious sabotaging beliefs assert themselves in the form of supposedly random blunders, when the trader, losing concentration for no reason, places a buy order instead of a sell order, or, deciding to step away from the monitor for a minute, returns and sees, that I missed a clear opportunity to make money.

Everytime, when traders hit the barrier, their trading account balances deteriorate sharply regardless of whether, how the market behaves. Nevertheless, answering the question about the reasons for the failure, they blame it all on bad luck or on the crazy whims of the market.

In fact, trading is the most difficult of all, in what a person is trying to succeed. And not because, that trading in the market requires remarkable mental abilities, quite the opposite! The problem is, what, the more the trader supposedly knows, the less success it achieves. Trading is complicated, because you have to work in conditions, at which one should not know, even if from time to time the results of the analysis turn out to be absolutely correct. Work in conditions, at which one should not know, requires proper handling of expectations. To properly manage expectations, should reconfigure the sphere of consciousness so, to be able sincerely, without a shadow of doubt, believe in the five fundamental truths of trading.

There are three stages of a trader's development.

The first stage is mechanical. At this stage it is necessary:

• achieve a state of self-confidence, what you need to work in an unrestricted environment;
• master the perfect skill to implement a trading system;
• train the mind to think in terms of probabilities (five fundamental truths);
• create a strong unshakable belief in the ability to be a stable trader.

The second stage is subjective.

At this stage, the trader should use all, what I learned about the nature of market movements, in order to do that, what does he want. This stage is characterized by a significant degree of freedom., therefore, one should master the ability of self-observation, aimed at susceptibility to trading mistakes based on certain unresolved problems with self-esteem.

Stage Three - Intuitive.

Intuitive trading is considered the most advanced stage in the evolution of a trader.. Can't try to act intuitively, since intuition is spontaneous and spontaneous. It does not come from that, what a person knows at a rational level. The essence of reason is this, that he is extremely skeptical about information, emanating from the source, which he doesn't understand. Premonition of something, what should be- about to happen, is a form of knowledge, radically different from everything known to man at a rational level.

The only way to master intuitive trading is to, to get in the mood, most conducive to the perception and work with intuitive impulses.

Developing the belief “I am a stable trader” is the most important goal, but, she is too vague and abstract, therefore, the process of achieving it requires a breakdown into successive stages.

The following beliefs are building blocks, forming the structure, underlying that, what is indicated by the words "consistently win".

The seven principles of stability sound like this:

1. I objectively identify my competitive edge.
2. I calculate the risks in advance for each trade.
3. I fully accept the risk of losing a certain amount of money on a transaction.
4. My actions are fully and unconditionally consistent with the competitive advantage.
5. I cry myself as I go, how the market generates money-making opportunities available to me.
6. I constantly observe the degree of my fallibility..
7. I understand the absolute necessity of following the principles of sustainable success and never violate them..

Another translation option, what can meet:Zone Trading”.