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#TradingInTheZone is a must-read for anyone looking to improve their trading skills. Here are ten key takeaways from the book:

The concept of "probability" - Trading is about managing risk and understanding the probabilities of different outcomes. #RiskManagement
The importance of "discipline" - Discipline is crucial for successful trading, as it allows you to stick to your plan and make sound decisions. #TradingDiscipline
The power of "confidence" - Confidence in your trading plan is key to staying focused and making good decisions. #TradingConfidence
Read 9 tweets
Some points from the book Trading In the Zone:

There is huge gap between what you understand about market and your ability to transform that
knowledge into consistent profits. – ‘Psychological Gap’

[1/n]
#Tradinginthezone
Mind set of Winners : think differently from the rest. They have attained a mindset – unique set
of attitudes – that allows them to
 Remain disciplined,
 Focused, and
 Confident in adverse conditions.

[2/n]
#Tradinginthezone
Any trader is taking risk when you put on a trade, but that doesn’t mean that your are correspondingly accepting that risk
Learning how to redefine your trading activities in a way that allows you to completely accept the risk is the key to thinking like a successful trader
[3/n]
Read 3 tweets
The 80/20 management rule in trading. 80% of the effects come from 20% of the causes. In trading, 80%(big portion) of the profits come from 20% of the good trades. Do not take these numbers literally. 1/n
If you are a discretionary trader, you need to focus on those 20% good trades and the reasons behind it and try to make this number bigger. For ex: if 20% of those trades were breakout trades, then you need to trade more breakout trades to make those big winners. 2/n
If you were a system trader, you can't do much if your system already has a very good expectancy. You just need to have the right mindset to go through the drawdowns and wait for those big winners. Remember, there is no trading technique/system that will be 100% profitable. 3/n
Read 7 tweets

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