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Poker > Trading In The Zone > Flashcards

Trading In The Zone Flashcards

1
Q

Lack of consistency come from ______

A

Attitude

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2
Q

The winners have attained a mindset that allows them to remain __________, __________, and above all else ____________, in the face of adverse conditions

A

Disciplined, focused, confident

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3
Q

Most have not accepted what about a trade

A

That is has a non guaranteed probable outcome

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4
Q

4 Primary Trading fears

A
  1. Being wrong
  2. Losing Money
  3. Missing out
  4. Leaving money on the table
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5
Q

Confidence comes from?

A

Trust in yourself

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6
Q

How to become unafraid?

A

Truly accept the risks

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7
Q

____ not the _______ is responsible for my success or failure as a player

A

Me, market

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8
Q

The degree to which our mind is focused on _______ _______________ is the degree by which we create the very experience we are trying to avoid

A

Pain Avoidance

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9
Q

The more one has to ____ (or ___ ____), the less tolerance one will have toward info that might indicate we are not getting what we want.

A

Win, not lose

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10
Q

If you aren’t _________ _____________ for your results then you might believe you have nothing to learn

A

Completely responsible

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11
Q

I can’t _______ or ___ to _____ ______ from the market. Rather I will let the market unfold and take advantage of opportunities I see

A

Expect, try to get stuff

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12
Q

Do the best traders use courage to get through the fear?

A

No, they don’t have fear because they have accepted emotionally all the risks and just act on +EV opportunities

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13
Q

It is your job to perceive ____________, not threats

A

Opportunities

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14
Q

If you have a few losing hands in a row, your mind will perceive the next opportunity as ______ ______

A

Overly risky

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15
Q

After winning a few hands in a row the next opportunity will be perceived as _____ _____

A

Not as risky as it is

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16
Q

The best players believe, without a shred of a doubt, that _______ __ _________. This
Will prevent the mind from associating the now moment with the outcomes of the most recent past

A

Anything is possible.

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17
Q

The markets most fundamental concept

A

It can express itself in an almost infinite number of ways

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18
Q

Believing or assuming that ___ _____ will be the cause of virtually every error

A

You know

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19
Q

Most effective and functional trading beleif

A

Anything can happen

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20
Q

Every moment is ______ and ___

A

Unique and new

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21
Q

Unless we train our mind to perceive the ___________ of each moment, that ___________ will automatically be filtered out of our perception

A

Uniqueness

22
Q

Taking every ____ increases sample size and gives opportunity for the ____ to play out in their favor

A

Edge, edge

23
Q

Unsuccessful traders are obsessed with _______ __________ because they crave the sense of certainty it appears to give them

A

Market analysis

24
Q

The typical trader desperately seeks __________ where it doesn’t exist. Ironically if he accepted the fact that _______ does not exist then he would create the __________ he craves: _______ that __________ does not exist

A

Certainty, certainty, certainty, certain that certainty

25
Q

The wrong attitude before an investment vs the right attitude

A

Wrong: you convince yourself that your trade will work and you are essentially saying, you know everything about the market people how they react, which is absurd
Right: we accept in advance of the event that we don’t know how it will turn out and this acceptance keep our expectations neutral, and open ended

26
Q

Any expectation about the markets behavior that is _______, ________, ______, instead of _______/__________ is unrealistic and potentially damaging

A

Specific, well defined, rigid….neutral/open ended

27
Q

What has the potential to create the most unhappiness and emotional misery

A

An unfulfilled expectation

28
Q

If there is a difference between what we want or expect and what the market is offering then what happens

A

Our pain avoidance mechanisms kicked in, and to protect ourselves we rationalize justify make excuses and willfully, gather information that will neutralize the significance of the conflicting information

29
Q

We need to be rigid in our ______ and flexible in our ___________

A

Rules, expectations

30
Q

What is the problem with our pain avoidance kicking in when the results differ from our expectations?

A

The pain avoidance can block, distort, or diminish info

31
Q

The more rigid, the expectation, the more we have to….

A

Bend, violate, or break our rules to accommodate our unwillingness to give up what we want in favor of what the Market is offering us

32
Q

5 Fundamental Truths of a Probabilistic Mindset

A
  1. Anything can happen.
  2. I don’t need to know what is going to happen next to make money.
  3. There is a random distribution between wins and losses for any set of variable that define any edge.
  4. And edge is nothing more than an indication of a higher probability of one thing happening over another.
  5. Every moment in the market is unique.
33
Q

If you believe you know something then what happens

A

The moment is no longer unique and therefore known and you can’t perceive what the market is offering leading to errors

34
Q

You can project and predict an edge while at the same time…

A

Not expect the market to do anything in any moment

35
Q

What do we distort info based on?

A

Our expectations

36
Q

What are expectations?

A

Beliefs projected into some future moment

37
Q

What is the only agenda you should be coming to the game with

A

To let the market unfold in any way
It chooses and to be in the best state of mind to recognize the opportunities

38
Q

What is the universal response when the outside world expresses itself in a way that doesn’t reflect what we expect or believe to be true

A

Emotional pain

39
Q

Market info is only threatening if

A

You are expecting the market to do something for you

40
Q

If you don’t expect the market to make you a winner you have

A

No fear of losing

41
Q

The only evidence you need to make an investment

A

Whether the variables you use to define edge or present at any given moment

42
Q

Beliefs take on a life of their own and therefore

A

Resist any force that would alter their present form

43
Q

Best way to deal with beliefs

A

Gently draw down the energy of them so that it doesn’t have the potential to act as a force on our perception and behavior

44
Q

What is a creative experience?

A

When you encounter something that goes against previously held beliefs

45
Q

When you truly believe you don’t need to know, you are thinking in _________ and it won’t

A

Probabilities, block, distort, or discount or deny anything the market is offering to us about its potential to move in any particular direction

46
Q

Anything we feel guilty about can have an

A

Adverse effect on self-worth

47
Q

Subconscious self sabotaging beliefs can manifest in the form of

A

Lapses and focus attention, or allowing yourself to give into distracting thoughts

48
Q

The more you think you know the

A

Less successful, you will be

49
Q

What belief can act as a primary source of energy

A

The belief that I am a successful player

50
Q

What can cause momentary lapses and focus and concentration resulting in error?

A

Distracting thoughts

51
Q

What is self-discipline?

A

The mental technique to redirect our focus of attention to the object of our goal or desire

52
Q

What to do when a conflicting thought or thought that we don’t desire comes up

A

Redirect the energy to the objective belief and draw energy away from the other beliefs

Poker (5 decks)

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