Chapter 7 - The Traders Edge : Thinking in Probabilities W - Being aware of uncertainty and understanding the nature of probabilities does not equate with an ability to actually function effectively from a probabilistic perspective. A - Mark is telling us we have to move deeper than knowing about thinking in probabilities. It must become a solid belief for us. If it is a belief (like Mark discussed in the last chapter); our actions will come from that belief effortlessly. A - We need the proper beliefs to get to the highest level as traders. Here is where I find myself... knowing all the information at a decent level and even starting to believe some of it.... I have to drill in and form these solid beliefs now to level up my trading psych game. I looked ahead and the next few chapters are going to drill into beliefs. He definitely knows his stuff & I 1000% agree that trading and everything we want has to start with the proper beliefs. The solid foundation....Beliefs turn into thoughts turn into words turn into actions turn into your life. 5 Fundamental Truths: (Beliefs we need to install deep into our brains so all decisions/trading stems from them) 1. Anything Can Happen 2. You dont need to know what is going to happen next in order to make money 3. There is a random distribution between wins & losses for any given set of variables that define an edge. 4. An 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.