I got this from today's Innerworth Newsletter. I like the following quote: "Rarely do any of us grow up learning how to operate in an arena that allows for complete freedom of creative expression, with no external structure to restrict it in any way. In the trading environment, you will have to make up your own rules and then have the discipline to abide by them. The problem is, price movement is fluid, always in motion, quite unlike the highly structured events that most of us are accustomed to. In the market environment, the decisions that confront you are as endless as the price movements you intend to take advantage of. You don't just have to decide to participate, you also have to decide when to enter, how long to stay in, and under what conditions to get out. There is no beginning, middle, or end - only what you create in your own mind." -The Disciplined Trader: Developing Winning Attitudes, by Mark Douglas, p.xiii Chinook
Thanks for sharing this with us. I am a big fan of Mark Douglas, I believe unlike some of the other coaches he actually trades. I know for me automating all of my trading has helped quite a bit. In the long run its hard to beat 100% mechanical strategies (for me at least !) Just curious if anyone has information about Mark's trading, how he is doing? btw: my signature 'the more you think you know....' is from his book.