Archives of “January 6, 2019” day

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3 Trading Wisdom Thoughts

  
  Education
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1) Focus on being profitable for the week – Individual trades may go against you and individual trading days can offer little opportunity. As a senior trader once explained to me, for the active trader, however, there are enough fresh opportunities in a week to make it reasonable to set a goal of being profitable for the week. You won’t reach your goal every single week, but the mere act of setting the goal keeps you focused. For example, you don’t want to lose so much money in a single day that you can’t make it back during the other days of the week. You also don’t want to lose so much money on a single trade that you can’t come back during the remainder of the day. When you really push yourself to be profitable every week, you don’t let individual days get away from you. And when you don’t let individual days get away from you, you start managing each trade carefully to ensure that your largest loss won’t exceed your largest gain. Time and again I’ve seen a consistent sign of progress among developing traders: they stop digging themselves into holes.
2) Take what the market gives you – Today I peeled out of several short positions after a spate of very negative TICK readings in the afternoon. I’ve learned that such concentrated selling often precedes nasty short-covering rallies. My S&P position hadn’t made as much profit as my NASDAQ and Russell positions, but the market doesn’t care about that. I took what the market gave me and started the week green. Did the market go down even further after I exited? Absolutely. As one experienced trader explained to me, when the market rewards your position right off the bat, you want to take something off the table. You might let a piece of your position ride if you have a longer-term opinion, but never give green a chance to become red. A winner that turns into a loser is a double loss. (more…)

Mera Bharat Mahan -75% rural households earned below Rs 5000

  
Analysis, Education
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The highest earning member in about three-fourths of all rural households in the country made less than Rs 5,000 per month, according to the Socio Economic and Caste Census (SECC) 2011 released today.

As per the Census data, there were 13.34 crore or 74.49 per cent households where “monthly income of highest earning household member” was below Rs 5,000 a month.

There were only 1.48 crore or 8.29 per cent of rural households where the monthly income of such member was Rs 10,000 or more.

Further, the number of rural households with a salaried job was only 9.68 per cent.

Of these, 5.02 per cent were in government jobs, 1.12 per cent were employed in public sector and the remaining 3.58 per cent in private sector, the data said.

The Census was carried out in all the 640 districts of the country using 6.4 lakh electronic hand-held devices, the government said while releasing the socio-economic data for rural India. (more…)

Hallmark of a Position Day Trader

  
  Education
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hallmark-trader

  • Routine and Predictable daily methodology
  • Psychological Control: Discipline, Focus, Patience
  • Macro vs Micro Market Analysis … seeing the Big Picture
  • Comprehensive intraday Hit List analysis
  • Multiple intraday Set-up opportunities
  • Various chart pattern recognition … low risk opportunities
  • Capital preservation = risking less than 50% maximum stop loss.
  • Expectation & Time Exits: Scalp, Breakeven, Profit Target, Let Profits Run
  • Trading Execution Commitment: honoring Set-up signals, not P&L

    • 10 Trading Pitfalls

      
      Education
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    • All market behavior is multifaceted, uncertain, and ever changing.
    • “I am employing a robust, positive expectancy trading model and am appropriately managing risk on each and every trade.  Losses are an inevitable and unavoidable aspect of executing all models.  Consequently, I will confidently continue trading.”
    • Denial of loss and uncertainty is extremely destructive because it prevents us from thinking in terms of probabilities, planning for the possibility of loss, and consequently from the necessity of consistently managing risk.
    • If we view markets as adversarial we cut ourselves off from emotionally tempered, objective solutions to speculation (opportunities to profit)
    • Blind faith is no substitute for research, methodical planning, stringent risk management, playing the probabilities, and unwavering discipline
    • Depression is a suboptimal emotional state because it allows past losses or missed opportunities to limit our ability to perceive information about the markets in the present
    • We are not our trades; they are merely an activity in which we are engaged
    • Greed is linked to fear of regret, which is the greatest force impeding a trader’s performance outside of fear of loss
    • Market offers limitless opportunities for abundance
    • Trading biases prevent us from objectively perceiving reality, thereby limiting our ability to capitalize on various opportunities in the markets.

    Cancer May Soon Be Detected By a Simple Blood Test

      
    Education, Life
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    A new study is all set to change the course of medical history in the field of cancer detection forever, as it has identified roughly 800 biomarkers present in the blood of cancer patients which can be found out through a single blood test, making early detection of cancer a possible reality in the future.

    This study is the very first to comprehensively review and identify cancer-specific blood markers for future clinical development. Almost 19,000 scientific papers were analyzed and more than 800 biomarkers were identified.
    This research aimed at using a single blood sample for developing a screening test to identify multiple cancer types. Every type of cancer is known to produce markers in the blood. Therefore, developing a general screening test for many different forms of the disease may be feasible.

    Study author Ian Cree, a Cancer Research UK funded scientist at the University of Warwick and University Hospital in Coventry said in a press release, “This is a new approach to early detection and the first time such a systematic review has been done. A single blood-based screening test would be a game changer for early detection of cancer which could help make it a curable disease for many more patients. We believe that we’ve identified all the relevant biomarkers; the next step is working out which ones work the best for spotting cancers.”

    The research is poised to be presented at the National Cancer Research Institute (NCRI) Cancer Conference.

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