You can’t be a winner in the markets or in life if you don’t also have a winning attitude and surround yourself with those who offer the same. It is far too easy when the chips are down and our strategies are out of sync to start beating ourselves up and feel like a worthless moron. That comes with the territory. If it would be easy, everyone would be making loads of the money in the market and we know that isn’t true as most can’t even keep up with the S&P. Remember, trading and investing is not a precise science and a lot more luck is involved than many will tell you. So, in this business, when you fall down, you’ve got to dust yourself off and get back on the horse and, more importantly, keep plugging away. When you start thinking negative thoughts, and we all do, stop them immediately. You can’t consistently win in the markets if you can’t consistently foster and maintain a positive attitude in everything you do.
Archives of “January 10, 2019” day
rssSun TZU and Trading
As a trader you must have three pieces working in synch. Your equipment, your trading tools, and your mind. The Art of War by Sun Tzu is a book that has been applied to every facet of human experience. While originally meant to be a book that taught war strategies the lessons it imparts can and will change your life. (more…)
Fundamental Analysis Simplified
Trading markets without knowledge
Trading without adequate knowledge of the markets and self is foolish because by doing so you are gambling. There are traders that subconsciously want to lose money. I used to be that way, I think. I believe that my problem was I didn’t do much research or preparation. So essentially deep down I didn’t feel I deserved the money. There is a certain amount of self-knowledge needed to choose the proper trading method. It has even been suggested that many small traders in the futures market, without knowing it, secretly want to lose. They jump in with high hopes – but feeling vaguely guilty. Guilty over ‘gambling’ with the family’s money, guilty over trying to get ’something for nothing,’ or guilty over plunging in without really having done much research or analysis. Then they punish themselves, for these or other sins, by selling out, demoralized, at a loss.
Successful Traders (Only 5% )Knows these Things
China – The Mother of All Black Swans
Market Wizards -Study Notes
Bold Prediction for 2014
Speaking of taking days one day at time, continue to ignore all the prognostications for 2014 with the exception of mine, of course. I do think my prediction is the only one that’s viable: the market will go up, down, and sideways. I’m pretty sure I’m going to be 100% correct on this one. One of the few things I can guarantee. Focus on the long side when the market is going up. Focus on the short side when the market is going down. And, when the market is going sideways: focus on saving lives, do something Creative ,building buildings, repairing automatic transmissions, or whatever great things you do. It’s really that simple. Notice I said simple and not easy.
Never in Life :Waste Time on Movies ,Watching Cricket Matches ,Giving Opinion & Thinking about Politics ,Reading Newspapers…All Waste of Time & Money.
Mihir Desai, The Wisdom of Finance -Book Review
Mihir A. Desai’s The Wisdom of Finance: Discovering Humanity in the World of Risk and Return (Houghton Mifflin Harcourt, 2017) takes “the unorthodox position that viewing finance through the prism of the humanities will help us restore humanity to finance.” This sentiment is actually becoming more mainstream. For instance, there’s the just published Cents and Sensibility: What Economics Can Learn from the Humanities by Gary Saul Morson and Morton Schapiro. But Desai, a professor at the Harvard Business School and Harvard Law School, outshines his competition in at least two respects: he distills finance down to a few key components, and not the usual suspects, and he brings to bear on them insights from a wide range of often unexpected sources. For instance, “the first chapter lays down the foundations of risk and insurance, with the help of Francis Galton’s quincunx, the author Dashiell Hammett, the philosopher Charles Sanders Peirce, and the poet Wallace Stevens.”
In subsequent chapters Desai deals with such topics as options and diversification, risk and return, asset pricing, the principal-agent problem, mergers, and debt and bankruptcy. Again, with exceedingly well chosen examples from the humanities.
Thought For A Day
