Mark Douglas

Fix: Target minimum 3:1 risk-reward ratio so profits come even with less than 50% win rate

Fix: Reflect on core assumptions about winning, losing, and market nature to identify and correct errors

Fix: Accept that certainty doesn't exist in markets and shift from analysis-driven certainty to probability-driven edge execution

Fix: Build confidence through repeated, methodical execution of proven edges

Fix: Define exact levels beforehand based on when odds diminish relative to profit potential

Fix: Evaluate trades on process and risk management, not opportunity cost

Fix: Accept market randomness at the micro level while maintaining faith in your edge at the macro level

Fix: Acknowledge that winning trades require no skill and focus on building consistent, disciplined approaches rather than chasing winners.

Fix: Create structure and rules that prevent impulses from expressing through trading

Fix: View each trade as one data point in larger 20+ trade sample size with expected win-to-loss ratio

Fix: Establish clear, internal reasons for trading success

Fix: Accept that hidden variables always operate in every market moment and design trading system accordingly

Fix: Do the mental work to resolve conflicts between existing beliefs and trading principles until new beliefs operate naturally without struggle.

Fix: Establish profit-taking philosophy based on money management principles; accept available profits.

Fix: Understand that other traders' unpredictable entry/exit decisions create the random distribution; your edge depends on odds over time, not individual outcome certainty

Fix: Maintain neutral, open-ended expectations that accept the unique and boundless nature of each market moment

Fix: Remove profits when signals indicate moves are complete

Fix: Systematically scale out of winners in predetermined increments; this prevents panic by locking in gains early