Recently a friend of mine shared with me this awesome seminar by Mark Douglas, author of "The Diciplined Trader" & "Trading in the Zone", both books on trading psycology which I recommend to anyone wanting to improve their trading performance.

Anyway, this long seminar is almost as a video synthesis of both books with real examples of how to solve trading problems provided by the very attendants of the seminar.



It's really long and has two parts, but it's deffinetly worth it.

Part 1:

Part 2:

I also made a list with the concepts that I considered the most important and I would recommend you to do the same; just write the ideas that resonate the most with you and that you think will help you improve your trading. These are mine in no particular order:

• Beliefs will determine my success as a trader.
• Self-Discipline is a tool for change.
• Trading can be reduced to a 3 step process: 
• 1.- Identify an edge. 
• 2.- Define the risk. 
• 3.- Take the trade.
• If you are struggling in any area, ask yourself a genuine question and write down whatever ideas come to your mind. Most certainly, the answer to your problem will be there.
• "I am a consistently successful trader" is the most important belief that you can have in your trading career.
• To improve, I must add energy to my positive beliefs and remove energy from the non-functioning ones.
• To add energy to a belief I must expose myself to experiences that support that belief.
• I must see my development as a trader as stages. Each stage requires and provides certain skills.
•  The Mechanical stage of trading will allow me to acquire the fundamental skills of:
• Thinking in probabilities.
• Develop a carefree state of mind.
• Be objective.
• By following the 7 Principles of Consistency there is no other possible outcome but to become a consistently successful trader. These principles are:

1. I am a consistently successful trader because I objectively define my edges.
2. I predefine the risk of every trade.
3. I completely accept that risk as part of making that trade.
4. I act upon my edges without reservation or hesistation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my succeptability to make errors.
7. I understan the absolute necessity of this principles for my consisten success, and therefor, I never violate them.

• Money management is as important as having a technical edge.

This is, of course, a very narrow list of all the concepts that are shared in the seminar. If you notice other important ideas that I missed out, please share them in the comments.