Archives of “January 24, 2019” day

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Ari Kiev – The 10 Cardinal Rules Of Trading

  
  Education
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The Ten Cardinal Rules

1. Learn to function in a tense, unstructured, and unpredictable environment.
2. Be an independent thinker versus a conventional thinker.
3. Work out a way to handle your emotions and maintain objectivity.
4. Don’t rely on hope and fear in the conventional sense.
5. Work continuously to improve yourself, giving importance to self-examination and recognizing that your personality and way of responding to events are a critical part of the game. This requires continuous coaching.
6. Modify your normal responses to certain events. (more…)

Top 10 list from billionaires as to be successful

  
Education, Life
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1. Figure out what you’re so passionate about that you’d be happy doing it for 10 years, even if you never made any money from it. That’s what you should be doing.
2. Always be true to yourself.
3. Figure out what your values are and live by them, in business and in life.
4. Rather than focus on work-life separation, focus on work-life integration.
5. Don’t network. Focus on building real relationships and friendships where the relationship itself is its own reward, instead of trying to get something out of the relationship to benefit your business or yourself.
6. Remember to maximize for happiness, not money or status.
7. Get ready for rejection.
8. Success unshared is failure. Give back — share your wealth.
10. Successful people do all the things unsuccessful people don’t want to do.

What would you add to the “Billionaire’s Secrets” List?

Freudian Trading Techniques

  
  Education
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Attachment

When I was in college, I had a class in investment analysis. On one particular occasion, we had a group project which consisted of selecting a stock and then giving a recommendation on it. We chose a technology company whose earnings were shot and whose outlook was dismal. As we were deciding on what recommendation to offer, I suggested that  the stock was headed down and that we should recommend a sell. One of the gentlemen in the group immediately replied that he thought we might sound stupid for picking a stock and then recommending to sell it.

That’s when it dawned on me that the ego affects stock selection, evaluation, and recommendation significantly. I told this fellow that the data suggested that the stock was a sell. I also reminded him that the OBJECTIVE of the project was to a evaluate a stock, not to pick a winner. After some thought, I recalled that many analysts viewed the industries which they evaluated as THEIR industry. In doing so, those same analysts were often bullish much too often, including times when it was totally unprofitable to be bullish.

Mine is Better Than Yours

Another example is when I went for an educational seminar. There was no selling whatsoever and it was strictly educational. There were teachers from fixed income, equities, and real estate. Each speaker spoke about how the investment they were discussing was the best performing asset class in history. It was ridiculous but very illuminating. Individuals become emotionally attached when they use the word “my”. “My shoes, my car, my profession, and even my stocks are superior!” Then, I began wandering how detrimental this sort of thinking was. It eats away at profits and increases losses! (more…)

Free Technical Analysis Handbook

  
  Education
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man-free-signToday more and more investors are warming to the fact that psychology moves markets and therefore fundamental analysis, which fails to properly measure mass investor psychology, must be flawed.

Who can blame them? After all, fundamental analysis — based on past company earnings, rating agency projections and the like — proved to be of little value during the bust.

There is a better way.

Many investors who monitor investor sentiment readings, study Elliott wave patterns and employ other powerful technical indicators were — at very least — able to position themselves to survive the recent decline. Still others were able to turn crisis into opportunity and profit from the volatility. (more…)

Sales Of Hitler's Mein Kampf Are Surging

  
Analysis, Education, Life

The headline of this post is one that I am not sure how to interpret, but undoubtably marks something of significance. Personally, there have been many occasions throughout my youth, as well as my adult life, where I had a desire to read Mein Kampf. I was always curious to get into the mind of one of humanity’s greatest sociopaths. To get a glimpse of the thought process of a man capable of such cruelty and evil. To understand the types of words he used and the various psychological tactics he employed to manipulate an economically destitute and politically demoralized German population.

These feelings welled up inside of me once again back in 2008, when I feared that a financial and economic meltdown could cause the U.S. population to be thrust into the arms of a demagogue. I wanted to be able to more accurately identify the rhetoric of one of history’s more “successful” demagogue dictators in order to be able to spot similar trends should they arise in my time.

While I never got around to reading it, I did read part of one of Hitler’s speeches from before the war. It was interesting to not how he did not openly speak as a raging psychopath on his way to destroying much of Europe. Rather, he attempted to appeal to his audience as rational, passionate leader there to protect and exalt the German people back to greatness. That was the scariest thing of all.

This is what the top sales chart on iTunes’ category Politics and Current Events looks like.

 At this point I’d like to remain hopeful that these sales trends spring from a similar curiosity on behalf of the population, rather than from a darker more hateful place. (more…)

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