Chapter 9 Entry: W - "Simply put, the truth is a function of whatever works in relation to what we are trying to accomplish at any given moment." -Mark Douglas A - Mark is stating in this chapter that our belief systems can hinder our ability to see the truth by creating expectations that are in conflict with the objective realities of our external environment. But when we free our minds from the constraints of our own belief systems and all of the notions attached to those beliefs in relations to the market, and if we trade in a way that is in sync with the realities of the market, we will create a state of satisfaction in our own lives. A - This state of satisfaction from trading without expectation and understanding that I need to trade what works from the market's perspective is truly a notion that I work hard every day to incorporate in my own trading journey. Not just to believe it in my mind, but to act upon that truth through actual proof in my trades. The recording of that truth comes in the form of my daily journaling, reflection, and refinement. 🙏

W- As it’s pointed out in the book that we as a people are taught that you have to work hard to earn your pay. I think with an idea so ingrained into our mind we don’t tend to believe that there is such thing as free or easy money. People receive freebies all the time without realizing it so it seems uncomfortable when an actual lump sum comes your way with no strings attached. A- It is thought that a person who believes in free money will take free money. Example: the probable bus commuter excepting what was enough to pay for bus fair in Chicago. A- The way I am going to integrate this into my trading and life is tell myself (when I see traders get easy money) that I can do that instead of asking why not me. Setting any type of boundaries or limit to what you receive freely will stunt or stop what you get.

Chapter 9 - The Nature of Beliefs W - The task is how to learn to properly integrate the 5 fundamental truths into your mental system as core beliefs that are not in conflict with any other beliefs. A functional level is, one where you find yourself just naturally operating out of a carefree state of mind, perceiving exactly what you need to do and doing it without hesitation or internal conflict. It is also important that you not take for granted the amount of mental effort you may have to expend to train your mind to fully accept these principles of success, regardless of how well you understand them. Many people make the mistake of assuming that once they understand something, the insight inherent in their new understanding automatically becomes a functional part of their identity. There may be any number of conflicting beliefs to work through. ** It may take a considerable amount of mental work (over a considerable amount of time) to properly integrate your new understandings about trading into your mental environment. The good news is that, ultimately, the exercise provided in Chapter 11 will install the 5 fundamental truths and resolve many of the potential conflicts, but only if you know exactly what you are doing & why you are doing it. A - To summarize all Mark is saying IMO; surface learning is not what we need to get this...we need it at "a functional level" so we can be carefree traders that are "in the zone". Listening and even being able to say the things in this book "out loud" is not enough - you have to get it into your belief system. There will be conflicting beliefs for most traders and he states for the majority of the 1000s he coached... exceptionally are traders that are almost there in their belief system. For most; this will require a bunch of mental work over a long period of time. A - I assess myself to be somewhere between knowing all of this stuff from immersing myself into trading psych the past 8 months & some of it sinking in...I read this book before, but I dont even remember what is coming in Chapt 11. I cant wait for Mark to explain how to really get these belifs built in at a functional level. I have definitley been dealing with old beliefs since I started trading... initially this was almost impossibly hard, but now I think most of them are gone. The one dealing with being ok losing money is a deep one for me. I have some ideas to keep working on it, but I am very open to what Mark recommends in the coming chapters:)