Mark Douglas Quotes

Who is Mark Douglas?

Mark Douglas is a stock trader and the author of 'The Disciplined Trader' and 'Trading in the Zone'.

Books by Mark Douglas


Best 50 Quotes by Mark Douglas

“If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.”

Mark Douglas

“If your goal is to trade like a professional and be a consistent winner, then you must start from the premise that the solutions are in your mind and not in the market.”

Mark Douglas

“When you achieve complete acceptance of the uncertainty of each edge and the uniqueness of each moment, your frustration with trading will end.”

Mark Douglas

“When you genuinely accept the risks, you will be at peace with any outcome.”

Mark Douglas

“You create your own game in your mind based on your beliefs, intents, perception and rules.”

Mark Douglas

"Trading in the Zone" Quotes

“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables 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.”

Mark Douglas
Trading in the Zone

“Anything we decide to do or any outward expression of behavior will be consistent with what we believe.”

Mark Douglas
Trading in the Zone

“Forex trading requires the learning the type of skills that people just aren’t simply used to learning – Mental Skills.”

Mark Douglas
Trading in the Zone

“Good market analysis can certainly contribute to and play a supporting role in one’s success, but it doesn’t deserve the attention and importance most traders mistakenly attach to it.”

Mark Douglas
Trading in the Zone

“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 or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”

Mark Douglas
Trading in the Zone

“I define random trading as poorly-planned trades or trades that are not planned at all. It is an unorganized approach that takes into consideration an unlimited set of market variables, which do not allow you to find out what works on a consistent basis and what does not.”

Mark Douglas
Trading in the Zone

“I haven’t seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren’t. Many outstanding intelligent people are horrible traders. Average intelligence is enough. Beyond that, emotional makeup is more important.”

Mark Douglas
Trading in the Zone

“I would say that many, if not most people, grow up in a family and cultural environment that gives little, if any, objective, nonjudgmental support to the unique ways in which we feel compelled to express ourselves.”

Mark Douglas
Trading in the Zone

“If you are unable to trade without the slightest bit of emotional discomfort (specifically, fear), then you have not learned how to accept the risks inherent in trading. This is a big problem, because to whatever degree you haven’t accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something that is unavoidable will have disastrous effects on your ability to trade successfully.”

Mark Douglas
Trading in the Zone

“If you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify patterns, define the risk, and determine when to take profits. The trade either works or it doesn’t.”

Mark Douglas
Trading in the Zone

“If you have to win, if you have to be right, if you can’t lose or can’t be wrong, you will cause yourself to define and perceive categories of market information as painful.”

Mark Douglas
Trading in the Zone

“It’s the ability to believe in the unpredictability of the game at the micro-level and simultaneously believe in the predictability of the game at the macro level that makes the casino and the professional gambler effective and successful at what they do.”

Mark Douglas
Trading in the Zone

“Keep in mind that an expectation is a belief projected into some future moment. Since we can’t expect something we don’t know about, we could also say that an expectation is what we know projected into some future moment.”

Mark Douglas
Trading in the Zone

“Learning to accept the risk is a trading skill — the most important skill you can learn.”

Mark Douglas
Trading in the Zone

“Market analysis is not the path to consistent results. It will not solve the trading problems created by lack of confidence, lack of discipline, or improper focus.”

Mark Douglas
Trading in the Zone

“Most traders have absolutely no concept of what it means to be a risk-taker in the way a successful trader thinks about risk. The best traders not only take the risk, they have also learned to accept and embrace that risk. There is a huge psychological gap between assuming you are a risk-taker because you put on trades and fully accepting the risks inherent in each trade. When you fully accept the risks, it will have profound implications on your bottom-line performance.”

Mark Douglas
Trading in the Zone

Products by Mark Douglas

“No man ever reached to excellence in any one art or profession without having passed through the slow and painful process of study and preparation.”

Mark Douglas
Trading in the Zone

“Our beliefs shape how we feel about the results of our actions.”

Mark Douglas
Trading in the Zone

“Putting on a winning trade or even a series of winning trades requires absolutely no skill. On the other hand, creating consistent results and being able to keep what we’ve created does require skill. Making money consistently is a by-product of acquiring and mastering mental skills.”

Mark Douglas
Trading in the Zone

“Rarely will the typical trader stay with his system beyond two or three losses in a row, and taking two or three losses in a row is a very common occurrence for most trading systems.”

Mark Douglas
Trading in the Zone

“Remember our definition of a winning attitude: a positive expectation of your efforts with an acceptance that whatever results you get are a perfect reflection of your level of development and what you need to learn to do better.”

Mark Douglas
Trading in the Zone

“Taking responsibility means acknowledging and accepting, at the deepest part of your identity, that you—not the market—are completely responsible for your success or failure as a trader.”

Mark Douglas
Trading in the Zone

“The best traders aren’t afraid. They aren’t afraid because they have developed attitudes that give them the greatest degree of mental flexibility to flow in and out of trades based on what the market is telling them about the possibilities from its perspective. At the same time, the best traders have developed attitudes that prevent them from getting reckless.”

Mark Douglas
Trading in the Zone

“The best traders think in a number of unique ways. They have acquired a mental structure that allows them to trade without fear and, at the same time, keeps them from becoming reckless and committing fear-based errors.”

Mark Douglas
Trading in the Zone

“The consistency you seek is in your mind, not in the markets.”

Mark Douglas
Trading in the Zone

“The fact is that if traders really believed that anything could happen at any time, there would be considerably fewer losers and more consistent winners.”

Mark Douglas
Trading in the Zone

“The hard, cold reality of trading is that every trade has an uncertain outcome.”

Mark Douglas
Trading in the Zone

“The typical trader doesn’t predefine his risk, cut his losses, or systematically take profits because the typical trader doesn’t believe it’s necessary. The only reason why he would believe it isn’t necessary is that he believes he already knows what’s going to happen next, based on what he perceives is happening in any given ‘now moment.'”

Mark Douglas
Trading in the Zone

“The winners have attained a mind-set—a unique set of attitudes—that allows them to remain disciplined, focused, and, above all, confident in spite of the adverse conditions. As a result, they are no longer susceptible to the common fears and trading errors that plague everyone else.”

Mark Douglas
Trading in the Zone

“There is a random distribution between wins and losses for any given set of variables that define an edge. In other words, based on the past performance of your edge, you may know that out of the next 20 trades, 12 will be winners and 8 will be losers. What you don’t know is the sequence of wins and losses or how much money the market is going to make available on the winning trades. This truth makes trading a probability or numbers game. When you really believe that trading is simply a probability game, concepts like ‘right’ and ‘wrong’ or ‘win’ and ‘lose’ no longer have the same significance. As a result, your expectations will be in harmony with the possibilities.”

Mark Douglas
Trading in the Zone

“Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. They no longer fear the erratic behavior of the market. They learn to focus on the information that helps them spot opportunities to make a profit, rather than focusing on the information that reinforces their fears.”

Mark Douglas
Trading in the Zone

“Trading rule 1: Predefine what a loss is in every potential trade.

Trading rule 2: Execute your losing trades immediately upon perception that they exist.

By predefining and cutting your losses short, you are making yourself available to learn the best possible way to let your profits grow.”

Mark Douglas
Trading in the Zone

“Unless you learn to completely accept the possibility of an uncertain outcome, you will try either consciously or unconsciously to avoid any possibility you define as painful.”

Mark Douglas
Trading in the Zone

“What makes trading so fascinating and, at the same time, difficult to learn is that you really don’t need lots of skills; you just need a winning attitude.”

Mark Douglas
Trading in the Zone

“What separates the 'consistently great' athletes and performers from everyone else is their distinct lack of fear of making a mistake.”

Mark Douglas
Trading in the Zone

“When I put on a trade, all I expect is that something will happen.”

Mark Douglas
Trading in the Zone

“When you learn the trading skill of risk acceptance, the market will not be able to generate information that you define or interpret as painful.”

Mark Douglas
Trading in the Zone

Products by Mark Douglas

“When you learn the trading skill of risk acceptance, the market will not be able to generate information that you define or interpret as painful. If the information the market generates doesn’t have the potential to cause you emotional pain, there’s nothing to avoid. It is just information, telling you what the possibilities are. This is called an objective perspective—one that is not skewed or distorted by what you are afraid is going to happen or not happen.”

Mark Douglas
Trading in the Zone

“When you operate from the assumption that more or better analysis will create consistency, you will be driven to gather as many market variables as possible into your arsenal of trading tools. But what happens then? You are still disappointed and betrayed by the markets, time and again, because of something you didn’t see or give enough consideration to. It will feel like you can’t trust the markets; but the reality is, you can’t trust yourself.”

Mark Douglas
Trading in the Zone

“When you trade from a carefree state of mind, everything about your trading changes. Remember, that the primary skill that we are talking about here is simply trading without fear. This is a trading skill. It is the primary trading skill that you will have to aquire to create consistency – to trade without fear.”

Mark Douglas
Trading in the Zone

“Where does passionate interest come from? My personal view is that it comes from the deepest level of our being—at the level of our true identity. It comes from the part of us that exists beyond the characteristics and personality traits we acquire as a result of our social upbringing.”

Mark Douglas
Trading in the Zone

“Why do casinos make consistent money on an event that has a random outcome? Because they know that over a series of events, the odds are in their favor. They also know that to realize the benefits of the favorable odds, they have to participate in every event.”

Mark Douglas
Trading in the Zone

“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
Trading in the Zone

“You can learn how to redefine your trading activities in such a way that you truly accept the risk, and you’re no longer afraid.”

Mark Douglas
Trading in the Zone

“Your primary goal has to be to learn how to think like a consistently successful trader.”

Mark Douglas
Trading in the Zone