Traders Prayer

hi everyone,

Today i am posting a traders prayer from Trading in Zone by Mark Douglas. I read this before i start my trading everyday. I have made a wallpaper of it so that i can read it easily. It is highly recommended for every trader.

“I AM A CONSISTENTLY SUCCESSFUL TRADER”
“I AM A CONSISTENT WINNER BECAUSE:
1. I OBJECTIVELY IDENTIFY MY EDGES.
2. I PREDEFINE THE RISK OF EVERY TRADE.
3. I COMPLETELY ACCEPT THE RISK OF OR I AM WILLING TO LET GO OF THE TRADE
4. I ACT UPON MY EDGES WITHOUT RESERVATION OR HESITATION.
5. I PAY MY SELF AS THE MARKET MAKES MONEY AVAILABLE TO ME.
6. I CONTINUALLY MONITOR MY SUSCEPTIBILTY FOR MAKING ERRORS.
7. I UNDERSTAND THE ABSOLUTE NECESSITY OF THESE PRINCIPLES OF CONSISTENT SECCESS AND, THEREFORE, I NEVER VIOLATE THEM”

“FUNDAMENTAL TRUTH OF TRADING”
1. ANYTHING CAN HAPPEN.
2. I DON’T NEED TO KNOW WHAT IS GOING TO HAPPEN NEXT IN ORDER TO MAKE MONEY.
3. THERE IS RANDOM DISTRIBUTION BETWEEN WINS AND LOSSES FOR ANY GIVEN SET OF VARIABLE THAT DEFINE AN EDGE.
4. AN EDGE IS NOTHING MORE THAN AN INDICATION OF A HIGHER PROBABILITY OF ONE THING HAPPENING OVER ANOTHER.
5. EVERY MOMENT IN THE MARKET IS UNIQUE.
“NOW MOMENT OPPORTUNITY FLOW”

Happy trading
Make Pips, Keep It, Repeat It!
hemant