Stock Market Experts on Blue Channels-This Way They Cheat Traders -Investors
Archives of “January 11, 2019” day
rssInside the Mind
When I impulsively take the first type of countertrend trades (i.e. missed a good trend), here’s what is going through my mind:
- Woah, the move has already gone quite a distance.
- Sigh, I should’ve taken that entry earlier. I shouldn’t have followed my trading plan so strictly.
- Should I get in now? No, I cannot get in any more, I cannot chase the market, it’s too risky, I have no logical stop nearby, you don’t know when it might reverse down quickly.
- I have already missed the move. I need to wait to enter in the opposite direction when the trend ends.
- The trend has gone too far, it must turn soon
- Look! There’s a bit of resistance, the trend is about to turn, go short! (for an uptrend)
And the countertrend trade is made! Below are what I think are the psychological process at work: (more…)
The golden rules of banking
THE crisis has taught people a lot about the banking industry and the thought processes of its leaders. These lessons can be distilled into four golden rules.
1. The laws of supply and demand do not apply. When food producers compete to supply a supermarket, the retailer has the luxury of selecting the lowest bidder. But when it comes to investment banking, wages are very high even though the number of applicants is vastly greater than the number of posts. If the same was true of, say, hospital cleaning, wages would be slashed.
An investment bank, like a supermarket, demands a certain quality standard: it will not hire just anybody. But whereas it may be easy to identify a rotten banana, it is harder to be sure which trainee will be the next Nick Leeson and which the potential George Soros. That gives executives an excuse when things go wrong.
2. Success is down to my genius; failure is caused by someone else. When banks do well, and profits soar, the bosses are responsible for it all with their strategic cunning and inspiring leadership. Huge bonuses are therefore due. (more…)
Evolution of global warming…
We should stop with the signs and let nature take its course.
20 Trading Wisdom Lines
(1) Those who work their plan will prosper, but those who chase fantasies lack judgment.
(2) Those who want to do right will get a rich reward. But those who want to “get rich quick” will quickly fail“.
(3) Trying to “get rich quick” is wrong & leads to poverty.
(4) Wealth taken from gambling quickly disappears; wealth from diligent effort & hard work grows“.
(5) Follow the rules & keep your financial life intact; ignoring them means financial ruin.
(6) A person without self-control is as defenseless as a city with broken-down walls.
(7) The wise control their temper. They know that anger causes mistakes.
(8) The intelligent are always open to new ideas, in fact they look for them.
(9) Get all the advice that you can & be wise all the rest of your life.
(10) Fools despise advice; ‘the wise’ consider each suggestion.
(11) Fools think they need no advice, but ‘the wise’ listen to others.
(12) To learn, you must want to be taught. To refuse correction is stupid.
(13) Anyone willing to be corrected is on the path to success. Those who refuse correction have lost their chance.
(14) Hard work brings prosperity; playing around brings poverty.
(15) If you love sleep, you will end up in poverty. Stay awake, work hard, & there will be plenty to eat.
(16) The foolish will lose in the end, ‘the wise’ will end up with the winnings.
(17) The wise save up for the future, but the foolish spend whatever they get”.
(18) Truth stands the test of time; lies are soon exposed.
(19 Be faithful & honest with yourself in your trading, bediligent & consistent & it will bring you Prosperity.
(20) Steady plodding brings prosperity; hasty speculation brings poverty.
Think carefully about each one of these quotes. I think you’ll find out a little something about yourself you didn’t already know. For example, your “strengths” and “weaknesses” in your trading should be clearly pointed out be analyzing each one of these phrases. These simple and short phrases should help you become a better trader — and hopefully a better person in general!
5 BASIC STEPS TO BECOMING A SUCCESSFUL TRADER
There are five basic steps to becoming a successful trader:
First, focus on trading vehicles, strategies, and time horizons that suit your personality.
Second, identify nonrandom price behavior, while recognizing that markets are random most of the time.
Third, absolutely convince yourself that what you have found is statistically valid.
Fourth, set up trading rules.
Fifth, follow the rules.
In a nutshell, it all comes down to: Do your own thing (independence); and do the right thing (discipline).
Why Trading is Most Difficult Job in the World
How many guys do you know who can accept being wrong?
How many guys do you know who can be wrong and lose money?
How many guys do you know who can be wrong. lose money and not feel bad?
How many guys do you know who can be wrong, lose money, not feel bad and reverse their position?
How many guys do you know who can be wrong, lose money, not feel bad, and reverse their position quickly?
Don’s point is that trading requires an unusual combination of emotional resilience (the ability to tolerate being wrong) and mental flexibility (the ability to use losses as information and quickly change one’s position in the markets).
Many people have a need to be right. That makes it difficult to quickly accept losses, and it makes it especially difficult to flip one’s views. The best traders don’t have a need to be right, and in fact they readily admit that there’s many times they’re wrong.
"The magic is when art challenges technology and technology inspires art."
Who killed India's growth machine?
Will we continue down the slippery slope, can we grab onto a glimmer of hope?
Our economy was very bright
And everything was going right.
Why, double digits were in sight
But suddenly we had a blight.
Now five per cent seems like a stretch.
The hero has become a wretch.
Indeed there are suspects galore
And I don’t think we can be sure
Who did it but we can guess
What the origin is of this mess.
The usual suspects should be there
Bad governance has its share.
The CAG claimed that he could see
Some scams in coal and in 2G
And whether you agree or disagree
These sectors slowed quite visibly.
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