Archives of “January 12, 2019” day

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Observation and Analysis

  
  Education
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“Do not believe in anything simply because you have heard it. Do not believe in anything simply because it is spoken and rumored by many. Do not believe in anything simply because it is found written in your religious books. Do not believe in anything merely on the authority of your teachers and elders. Do not believe in traditions because they have been handed down for many generations. But after observation and analysis, when you find that anything agrees with reason, and is conducive to the good and benefit of one and all, then accept it and live up to it.”

– Siddhārtha Gautama (Buddha)

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A commitment to reason, observation and analysis (of the self-reliant empirical variety) has been a winning trade for thousands of years.

Why don’t more people practice this, in markets and in life?

PSYCHOLOGY & RISK for New Traders

  
  Education
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The issues faced by the New Trader are greed, stress, impatience, fear, and lack of desire to learn.

“When a new trader enters the stock market with money but no experience, the odds are he will quickly gain experience by losing money.”

RISK

The New Trader must make managing money a priority, run trading like a business, control trading size, admit when he is wrong, and lock in strategy driven profits.

“When you go to your computer to trade, you should approach it as if you are entering an auction, not a casino.” 

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