Summary of Mark Douglas's The Disciplined Trader

Excerpt From Summary of Mark Douglas's The Disciplined Trader



#1



What separates the majority of traders who lose money from the minority of traders who make money is psychological discipline. The majority of traders get discouraged and give up after experiencing a few losing trades. It takes a psychological transformation for a trader to realize that trading is not about making money every single day, but about making money consistently over long periods of time.



#2



Today's successful traders started out without maps, signposts, or guidelines, and had to figure everything out through trial and error.