I love hearing stories like Daniel’s.
A migrant who moved to London. Couldn’t speak a word of English. Took whatever work he could find to put food on the table for his growing family. Fast forward and now he speaks fluent English, is professional trader and runs his own prop trading firm.
On top of this amazing “rags to riches” story, Daniel shares many, many words of wisdom. Much of which has never been mentioned on the show before (in over 200 trader interviews).
In short, you’re in for another treat!
Take The Challenge. Prove You Can Trade
Manage Up To $2M For An Award Winning Prop Firm. You Keep Up To 90% Of Profits On Performance. Use 10% Discount Coupon: TRADINGNUT
Trading in the Zone by Mark Douglas
[10:45] Admit that 95% is psychology, then you have 4% money management and 1% is the strategy.
[11:15] You will need to concentrate 95% of your time on psychology.
[14:37] Money management is coming in second place, in the sense that the most important is to be responsible of your losses.
[14:51] I think you should be thinking about how much money you can lose without it affecting you.
[18:24] I don’t know how much money I’m going to make. I know how much money I’m going to lose.
[19:27] In less than 3 hours, I made 44% and that was insane.
[25:02] You need to learn your own strategy.
[26:15] I take 10 minutes of meditation before I start to take a trade.
[29:38] The most important thing is that you need to be aware of your psychology.
[30:28] 99% of people can trade if they can control themselves.
[33:05] I do believe in fundamentals but, you need to understand how it works.
[35:56] You may have needed to have help from other indicators but, first things first… you need to learn how to use and understand all you see.
[35:40] If you’re not disciplined in your daily life, it’s difficult to be disciplined in trading.