In the zone - eliminating emotional risk

Question 1

what to eliminate to remove emotional risk? (Begins with E)

Answer 1

expectations

Question 2

how to think to remove emotional risk? (Beings with P)

Answer 2

think in probabilities with mental framework of

1 - anything can happen
2 - don’t need to know what will happen next to make money
3 - wins / losses distribution in set of trades is totally random
4 - an edge is simply an indication of higher probability one this may (OR MAY NOT) happen over another
5 - every moment in the market is unique

Question 3

What is an EDGE?

Answer 3

an edge is simply an indication of higher probability one this may (OR MAY NOT) happen over another

Question 4

5 underpinnings of mental framework

1 - Anxxxx
2 - don’t nxxxx
3 - wins/losses are xxx
4 - edge is xxx
5 - every moment is xxx

Answer 4

1 - anything can happen
2 - don’t need to know what will happen next to make money
3 - wins / losses distribution in set of trades is totally random
4 - an edge is simply an indication of higher probability one this may (OR MAY NOT) happen over another
5 - every moment in the market is unique

Question 5

How will thinking in terms of probabilities help?

Answer 5

Will give care-free attitude - trading will be as easy and stress free as glazing over a chart with eyes

Underpinnings of frame work, thinking in probabilities and NO EXPECTATIONS

1 - anything can happen
2 - don’t need to know what will happen next to make money
3 - wins / losses distribution in set of trades is totally random
4 - an edge is simply an indication of higher probability one this may (OR MAY NOT) happen over another
5 - every moment in the market is unique

Question 6

reading TRADING IN THE ZONE gives what expectation?

Answer 6

I will start winning money fast? NO it’s a trick question

finishing this book should leave me with no expectation around a specific trade or set of trades