Mark Douglas
1948 — 2015 · In memoriam
The man who spent his career teaching traders that the hardest part of the game isn't reading the chart — it's reading yourself.
The five fundamentals
- Anything can happen.
- You don't need to know what's next to make money.
- Wins and losses distribute randomly across your edge.
- An edge is just a probabilistic lean — nothing more.
- Every moment in the market is unique.
Before you click live
- Identify your edge objectively.
- Predefine your risk on every trade.
- Accept that risk completely — or skip the trade.
- Act on your edge without hesitation.
- Take profits as the market offers them.
- Stay watchful for your own mistakes.
Trading in the Zone — 2000
The Disciplined Trader — 1990