Not all traders have the courage to stand up to their actions. It takes a lot of courage to deal with the fears a trader must overcome in his career. The first is the fear of success that is so common and is the most prevalent. We want success and are afraid of it at the same time too. As our account grows so does the fear of handling those amounts of money. Could you trade risking a bigger amount as the account grows? Sometimes we sabotage our own success as it puts us out of our comfort zone. Another aspect of the fear of success is the subconscious fear of not being able to sustain that success. Our ego is questioning our ability to avoid messing up and losing that prized status of a hero. Same holds true for a windfall success. We know we might be able to do it again but our ego says we will look bad if we cannot do it again. Professional Traders have developed the ability to methodically achieve success and the confidence to repeat it while reducing the odds of sabotaging themselves via their egos. Professional Traders know that trading is boring and is not full of fun and excitement. That is why they have the courage to give up the fun and excitement in exchange for trading capital preservation. They also have the courage to not become addicted to winning big all the time. They know there will be singles, doubles and losers along the way too. They have the courage to stay on the sidelines at times and miss trading opportunities. They also know when to get out of a trade bravely and have the courage to ask for help when needed. They have the courage to stick to their strategy, ask dumb questions, admit it when they are wrong and finally have the courage to trade for profit and not for pure excitement.
Archives of “January 5, 2019” day
rss15 Great Investor Quotes
Insightful Investment Quotes
Warren Buffett (Net Worth $39 Billion) – “‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”
George Soros (Net Worth $22 Billion) – ”I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.”
David Rubenstein (Net Worth $2.8 Billion) – “Persist – don’t take no for an answer. If you’re happy to sit at your desk and not take any risk, you’ll be sitting at your desk for the next 20 years.”
Ray Dalio (Net Worth $6.5 Billion) – “More than anything else, what differentiates people who live up to their potential from those who don’t is a willingness to look at themselves and others objectively.” (more…)
A Blast From the Past-Quotes Relates to Trading
The quotes alone are worth the price of admission. Here are a few that could be applied to trading. Take a read and think about how each quote relates to trading.
Emerson said, “All is riddle, and the key to a riddle is another riddle.”
Faulkner once said, “Don’t bother just to be better than your contemporaries or predecessors. Try to be better than yourself.”
Einstein once said, “Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Samuel Johnson wrote, “Almost all absurdity of conduct arises from the imitation of those who we cannot resemble.”
Shakespeare wrote, “Nothing is so common as the wish to be remarkable.” “When you have eliminated the impossible, whatever remains, however improbable, must be the truth.”
Robert Oxton Bolton once wrote, “A belief is not merely an idea the mind possesses; it is an idea that possesses the mind.”
Nietzsche wrote, “The individual has always had to struggle to keep from being overwhelmed by the tribe.”
Albert Einstein said, “Whoever undertakes to set himself up as judge in the field of truth and knowledge is shipwrecked by the laughter of the gods.”
“The defects and faults of the mind are like wounds in the body; after all imaginable care has been taken to heal them up, still the will be a scar left behind.” French writer François de la Rochefoucauld. “
“It has been said, ‘time heals all wounds.’ I do not agree. The wounds remain. In time, the mind, protecting its sanity, covers them with scar tissue and the pain lessens. But it is never gone.” Rose Kennedy
Philosopher Kahlil Gibran wrote “Out of suffering have emerged the strongest souls; the most massive characters are seared with scars.”
The Way Nifty Opens Everyday : Traders & Investors Should Invest in Company That Produces Valium
The Way Nifty Opens Everyday
-Our Recommendation is to : Invest in the company that produces Valium*
Because investors & traders are not getting much sleep.
*Yes ,Our Subscribers Don’t need any Medicine at all.They know When to Buy ,When to sell !
Some Market Humor
Analyst recommendations: –
Strong Buy – Buy
Buy – Hold
Hold – Sell
Sell – It’s too late.
Back–testing: – the art of adjusting trading system parameters so as to ensure maximum profit in the past and zero profit in the future.
Charting: – “join-the-dots” for adults.
Computerized system testing: – torturing the data until it confesses. See: back-testing
Cycle analysis: – a method of analysis that allows losing trades to be organised into regular patterns.
Derivatives: – securities that are identified by acronyms – CHIPS, COBRAS, LEAPS, PERQS, STEERS, TRIPS, ZEPOS – all of these things are derivatives. Unfortunately, little else is known about them.
Daytrading: – an activity that takes place in between meaningful periods of employment.
Eurodollars: – U.S. Dollars, of course.
False Break: – an actual break of a trendline that triggers a losing trade. False breaks confirm the usefulness of trendline analysis. Only those breaks that are false cause problems, and those breaks don’t count, because they are false.
Float (initial public offering): – stock that is offered to you because other people have turned it down. The guiding principle in relation to floats is as follows: “never participate in a float that you are able to participate in.”
Fundamental analysis: – a method of analysis that provides compelling reasons for why a stock shouldn’t fall in price when it does.
“Fundamentally sound”: – the condition in which an economy finds itself immediately after a stock market collapse.
In-house analyst: – an employee of a broking house who dresses mutton up as lamb and advertises it on special.
Institutional investor: – someone who dumps a stock big-time, a day or two after you’ve bought it, for no apparent reason.
Live feed: – a technology that enables the instant incorporation of bad ticks into a charting program.
Market report: – a concise explanation of why a market traded up or down. 99% of market reports are drawn from other market reports. The remainder are whimsical.
Money-management: – the art of hiding trading losses from a spouse.
Over-bought: – a market is considered to be in an over-bought condition when everyone else appears to have bought it, but you haven’t.
Position trade: – a short-term trade that is in deficit, and will be closed out as soon as it breaks even, however long that takes.
Price/Earnings Ratio: – a ratio that indicates whether the price of a stock is attractive in relation to last year’s earnings. A low number indicates a bargain. However a low number can also indicate a lemon. If a company starts going down the tube, its stock price will appear very attractive in relation to last year’s earnings. The P/E Ratio is a versatile indicator.
Seasonal analysis: – the assumption that other people who trade Heating Oil Futures know nothing about winter.
Stochastics: – a technical indicator so-named because the name sounds technical.
Stop-loss: – the trader’s equivalent of a condom. It’s something you know you should have used after it’s too late.
Support: – a line drawn on a chart, the breaking of which is deemed extremely significant, even if the only people trading the stock at the time are two of three ladies at the tennis club.
Support/Resistance: – supposed allies that flee at the first sign of trouble.
Tankan Index: – a closely watched figure, that measures the extent to which the Japanese economy is tanking.
Technical analysis: – subjective analysis of the markets dressed up in a lab coat.
Technical indicator: – a transformation of a price series that contains less information than the series itself. Different technical indicators throw away information in different ways.
They: – the members of a powerful international conspiracy who target small, private traders in order to make their lives miserable. For instance, “they ran the market to my stop and then turned it around.”
Trading floor: – the traditional venue for the negotiation of securities, now made redundant by screen trading. Trading floors that remain open serve a valuable purpose as colorful backdrops to market reports on television.
Trading genius: – a reckless spirit in a bull market.
Trendline analysis: – a form of analysis that works best on a computer screen, where lines can be erased and re-drawn without trace.
Zero-sum game: – a game in which the players slug it out and the broker wins.
Visualize World Peas…
Science of Procrastination (Must see Video )
Only 5% Traders are Pilot ,Rest are Passenger only
Be Imperfect
As a trader – or an investor – you will not be right all of the time. If you can accept your imperfection, and work within it, you will be much more successful:
If you have a perfectionist mentality when trading, you are setting yourself up for failure, because it is a “given” that you will experience losses along the way. You must begin to think of trading as a game of probability. Your losses ( that you hope will return to breakeven) will kill you. If you cannot take a loss when it is small ( because of the need to be perfect), then you will watch that small loss grow into a larger loss and so on into a vicious cycle of more and more pain for the perfectionist. Trading on hope does not work. The markets can remain irrational for a lot longer than you can remain solvent.
The object should be excellence in trading, not perfection. Moreover, it is essential to strive for excellence over a sustained period, as opposed to judging that each trade must be excellent. This is a marathon…not a sprint.
The greatest traders know how to take cut losses and let winning positions run. Perfectionists often do exactly the opposite. They get in at the wrong time, stay in too long and then get out the wrong time. Perfectionists are always striving and never arriving. The market will find the flaw in a perfectionistic trader and exploit it day after day.
Timing the Pop Ain’t A Profitable Business
