Mindful Cycle of Effective Trading: Holding a Winning Trade
Archives of “January 14, 2019” day
rssCentral Banks-Bearish Billionaires
Deutsche Bank sees 30 risks to watch in 2018
What’s got Deutsche Bank worried
Here is a list of upside and downside risks in the year ahead.
50 Smartest Companies in 2017
Top 10 of 50
1) Nvidia Continues to tweak its chips, originally developed for gaming, to help develop breakthrough technologies like deep learning and autonomous driving.
$3 billion: spending on R&D to create its new data-center chip
2) SpaceX Changing the economics of space travel with its successful landing and recycling of rockets to be recycled for multiple trips
10 percent: price discount being considered for customers who agree to fly their payloads on reused rockets
3) Amazon Creating an AI-powered store of the future with Amazon Go while expanding intelligent voice assistant Alexa into phones, cars, and more.
12,000: number of programs that software developers have published for Alexa
4) 23andMe Vindicated this year when the U.S. FDA granted permission to tell customers whether their DNA puts them at higher risk for some diseases.
1 million plus: number of customers who have consented to have their genetic information used for scientific research
5) Alphabet Continues to dominate research into AI while expanding innovation in phone systems, virtual reality, and self-driving cars.
40 percent: amount of energy the company says it saves applying machine-learning algorithms from its DeepMind subsidiary to cooling its data center.
6) iFlytek Its voice assistant technology is the Siri of China, and its real-time portable translator puts AI to remarkable use, overcoming dialect, slang, and background noise to translate between Chinese and a dozen other languages with surprising accuracy.
70 percent: iFlytek’s share of China’s market in voice-based technologies
7) Kite Pharma Nearing FDA approval of its experimental immunotherapy that uses a patient’s own blood cells to combat cancer.
39 percent: proportion of study participants very sick with lymphoma who showed no sign of the disease six months after a single treatment with Kite’s therapy
8) Tencent Turning its insanely popular chat platform WeChat into a virtual operating system featuring mini programs.
50 percent: proportion of WeChat’s 770 million daily users who are on the service at least 90 minutes a day
9) Regeneron The biotech company has a strong drug pipeline and track record treating eye and other diseases, and it’s testing treatments for rheumatoid arthritis, asthma, and pain.
500,000: number of U.K. volunteers whose genetic data it is helping sequence
10) Spark Therapeutics Its blindness treatment could be the first gene therapy approved in the U.S. to treat an inherited disease.
1 in 30,000: estimated number of individuals affected by the disease, Leber hereditary optic neuropathy
Full list at: MIT Technology Review
Trick for Traders
I developed a little trick that might seem trivial, but it is very important. Simply put, anytime to you put a trade on, assume that the trade is going to be a loser. No matter how much analysis, how many supporting factors, or how perfect the pattern is, assume that the trade will lose money. This creates a profound shift in your focus because, rather than searching for and possibly discounting contradictory evidence (which can sometimes be as simple as “I just bought and now it’s going down…”), you will be open to and will readily accept contradicting information. Of course you will, because you assumed the trade was wrong to begin with. When you find confirmation for the trade, it is almost a pleasant surprise. Shift your thinking into this mode, and you will be much less likely to overstay your welcome in suboptimal setups that are not working out–you’ll be far more likely to do the right thing, which is usually to pull the plug on the trade (time stop) and look for a better opportunity.
Now, there’s another piece to this puzzle. A lot of writers focus a lot of attention on confidence in trading, and this is important, but it is a different kind of confidence. You must have confidence in your method and know that a profit is virtually assured over a large enough set of trades, and be able to separate this knowledge from the outcome of any one trade which is, more or less, a coin flip.
Technical Paralysis!
Seeing What You Want To See!
What Mistakes do most people make in the market ?
No Money Managment and no trading plane and not trading the plan if they have one.Losers think how much can I win-Winners think how much can I lose.The reason this is so important is because risk is the only thing a trader can control.Losers habitually focus on how much profit they are going to make winners correctly focus on exectuing the trading plan and thinking in probabilities !
The crowd thinks with its heart; the individual thinks with his brain.
The dangers are in the fat tail events not the bell curve
10 Favorite Quotes from Reminiscences of a Stock Operator
Markets, trading methodologies and products may change, but timeless investing advice does not. That’s why my favorite trading book remains Reminiscences of a Stock Operator by Edwin Lefevre with Jessie Livermore—it is chocked full of great advice for any investor. First appearing as a series of articles in the Sunday Evening Post during the 1920s, the book is largely a biographical account of Livermore’s professional life. He is remembered as one of the world’s greatest traders who won and lost tremendous fortunes before tragically taking his own life in 1940.
Although Jessie’s life ended too early, his words of wisdom live on for discovery. The book is filled with obscure references and colorful characters long forgotten by the general public, but the key themes of the text remain as relevant as ever. Therefore, I’ve pulled out my favorite quotes, below, though I highly recommend reading the entire text.
There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.
The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among professionals.
I never lose my temper over the stock market. I never argue the tape. Getting sore at the market doesn’t get you anywhere.
They say you can never go poor taking profits. No, you don’t. But neither do you grow rich taking a four-point profit in a bull market. Where I should have made twenty thousand I made two thousand. That was what my conservatism did for me.
Remember that stocks are never too high for you to begin buying or too low to begin selling.
A man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street…nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was the sitting. Got that? My sitting tight!