For those interested, here is the link with a better layout: http://www.r-5.org/files/books/trading/schoolbooks/Douglas_E_Zalesky-The_25-point_Mantra-EN.pdf
if one has the winning method and that is a huge IF this mantra and similar to it they all assume that one has the winning method, but in reality almost no one has...so all those preachings do not address the real issue and therefore useless are there mantras how to build the winning method, and how to survive building it? i never seen one
Study the market Develop a theory on how to take money out of the market Spend some time proving that theory wrong If you can't prove it wrong then develop a written plan to execute the theory Forward test by trading the plan on demo, then with small size, then increase size. Keep track of whether you follow the plan exactly. If there is a problem you will know if the plan or the trader is at fault.
the same way one can study the universe and develop a winning theory i heard the string theory did not work out so nicely not that i am picking on you... one just have to emphasise the chances of this happening... approaching zero for most and same is with trading oh i forgot mentioning the discipline
pit... well maybe all he mentioned applied to pit, maybe there was a known method that worked for pit... but it does not applies to the shithole in which all of us (retail traders) started, that i can assure you poor guy , died young but imho he never traded his own money retail , and if he did it was not a successful trading, otherwise he would come-up with quite a different set of statements
Perhaps theory is the wrong word. After spending some time watching the market you might see opportunities show up time and again where you might have been able to profit. Define them, test them, prove then wrong. See point 6 it pretty well covers discipline.