Mark Douglas is a bogus teacher. His philosophy is....to throw out a 1,000 random blind trades.....and cut your losers short and ride your winners, a general 2:1 ratio If only printing money from the market were that easy, there would be so many millionaires on top of millionaires on top of millionaires around,
If only you read posts by other people you would find your quoting me on a topic that I covered days ago by saying the one douglas book I read was a slog all the way to the last page where the only content that imho worth two shits was this "Give yourself permission to win." After all that other artistic intuitive stuff, this made sense. And for me to do that meant that I had to earn that permission. And that meant for me personally that rules based trading was the place to be. To get permission to risk those frogs, then show me what this setup/trigger offers in the way of assurance that the pond will not end up frog free eventually. Most people fawn over Douglas to an overwhelming majority. Coincidentally, based on my observations here on et, most traders are artistic intuitive traders to an overwhelming majority. Hmmmm. Speakin of frogs...
Here ya go Hoomer, Here's that Douglas screed I posted a couple days ago. Looks like we agree. I'm sooooo ashamed. Fok. Ima go eat some bugs and worms. https://www.elitetrader.com/et/thre...rab-emirates-dubai.369590/page-6#post-5674428 Fifth paragraph down...
Couple of years ago the "Reading Price Charts Bar by Bar - Al Brooks" was voted number 1 trading book.
I didn't see Steenbarger's performance books mentioned earlier.... enjoyed reading Enhancing Trader Performance and also The Daily Trading Coach.
%% THAT was about the worst book i have ever read= too much psycho- babble. Cut your losers short + let ride your winners is found in some good books, much sooner than his. Jack Schwager's Top Traders,Stock Market Wizards with blue cover, has some good + practical things in there. Those that like psycho- babble may not like it.