Audio available in app
Don't let external factors affect your trading decisions from "summary" of Trading in the Zone by Mark Douglas
As a trader, it is crucial to remain focused on your trading plan and not let external factors influence your decisions. External factors such as news, opinions, or even the opinions of others can cloud your judgment and lead to poor trading choices. When you allow external factors to impact your decision-making process, you are essentially giving up control of your trades. Instead of following your carefully crafted plan based on analysis and strategy, you are reacting impulsively to outside influences. This can lead to emotional trading, which is often driven by fear or greed rather than logic and reason. To avoid falling into this trap, it is important to stay discipli...Similar Posts
Understanding market trends is crucial for success
To succeed in stock market investing and trading, it is essential to have a deep understanding of market trends. Market trends ...
Forecasting the market is unreliable
The idea that one can predict the future course of the stock market is a seductive one. If we could only figure out where the m...
Staying informed about changes in market regulations and laws is crucial
Understanding and staying updated on market regulations and laws is essential for any investor looking to navigate the stock ma...
Markets are unpredictable and efficient
The idea that markets are unpredictable and efficient is a fundamental concept in investing. This means that it is nearly impos...
Teach children about money management
Children should be taught about money management from a young age. It is an essential life skill that will serve them well in t...
Focus on the underlying value of a company's assets
When it comes to investing, one of the key principles to keep in mind is the importance of focusing on the underlying value of ...
Buy what you know and understand
The key to successful investing is understanding the companies you're investing in. This may seem like a simple concept, but it...
Focus on intrinsic value rather than market price
When evaluating an investment opportunity, it is crucial to maintain a focus on the intrinsic value of a company rather than so...
Stay informed about market news and events that can impact pivot points
Staying informed about market news and events is crucial for any trader looking to effectively utilize pivot points. The reason...
Stay humble and continue to learn as an investor
The concept of humility and continuous learning is crucial for investors, as emphasized in the timeless wisdom of 'The Intellig...