“Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas
“You don’t need to know what’s going to happen next to make money. Anything can happen. Every moment is unique, meaning every edge and outcome is truly a unique experience. The trade either works or it doesn’t.” – Mark Douglas
Mark is reinforcing the point that there is no situation which has a ‘100% certainty rating’ in the markets. As a trader you need to work with probabilities to maximize your chances of success.
Traders that put too much emphasis on one particular event playing out the way they predict, will learn a harsh lesson. Mark Douglas tells us that “nothing is certain, anything can happen”, so we need to accommodate that uncertainty through a consistent money management plan.
“You don’t need to know what’s going to happen next to make money. Anything can happen. Every moment is unique, meaning every edge and outcome is truly a unique experience. The trade either works or it doesn’t.” – Mark Douglas
Mark is reinforcing the point that there is no situation which has a ‘100% certainty rating’ in the markets. As a trader you need to work with probabilities to maximize your chances of success.
Traders that put too much emphasis on one particular event playing out the way they predict, will learn a harsh lesson. Mark Douglas tells us that “nothing is certain, anything can happen”, so we need to accommodate that uncertainty through a consistent money management plan.
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