“Making the best possible decision originates from a positive mental state.” (Mark Douglas, The Final Zone)

Words from Mark Douglas, author of the renowned book on market psychology, "The Zone."

“All decisions that yield the best results come from a positive mental state. A positive mental state is when you are confident, happy, enthusiastic, calm, flexible, and trusting yourself. On the other hand, when you feel anxiety, anger, agitation, disappointment, dissatisfaction, irritation, frustration, betrayal, guilt, demoralization, discouragement, or despair, you are most likely to lack objectivity in considering what information to analyze and how to analyze it. As a result, biases creep into your assessment, and you end up making the least effective decisions about what to do or not to do.”

Although there are variations in expression,

this topic is emphasized and explained over several pages in “Day Trading” as well.

There was also an expression like, “A winning trader is confident. It isn’t that they are confident because they win; they win because they are confident.”

I think there were phrases like that as well.

It says the same thing, doesn’t it.

It must be true.

If you can’t be a principled person,

trading won’t go well either...

That’s how it seems.

Well, trading is indeed difficult, isn’t it (laugh).

See you next time.