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Great Traders: Five Distinguishing Features

Great Traders* Everyone is wrong in the markets at times. The difference between the great traders and the unsuccessful ones is in how long they stay wrong.

* Addictive traders get high from action; great traders get high from mastering markets–and mastering themselves.

* Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.

* Every loss of discipline is a self-betrayal; great traders are true to themselves and stay disciplined as a result.

* Great traders focus on the two things they can always control: when they play and how much they bet.

This Anti-Wall Street Film Isn’t Just for Michael Moore Fans

Independent filmmaker Danny Schecter would like to remind Wall Street that the disdain for bankers “is not coming from a bunch of lefties in some basement in the East Village. It is coming from mainstream America.”

Schecter hopes such mainstream angst can propel his latest film, “Plunder: The Crime Story of Our Time,” into the big leagues. Filmed on a budget of less than $50,000 and based on his book of the same title, the movie traces the roots of the financial crisis from the home owners who defaulted on their mortgages to the Wall Street banks loading up on mortgage investments.

The film sounds like the many books and made-for-television movies about the crisis. But Schecter, who has worked at ABC News and CNN, promises that his narrative is different because it approaches the subject like a crime story, not a mere financial story. (more…)

Success and Failure

* If you want to increase your success rate, double your failure rate – Thomas Watson, Sr.
* I’ve failed over and over and over again in my life and that is why I succeed – Michael Jordan
* A successful man is one who can lay a firm foundation with the bricks others have thrown at him – David Brinkley
* We succeed only as we identify in life, or in war, or in anything else, a single overriding objective, and make all other considerations bend to that one objective – Dwight D. Eisenhower
* What’s money? A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do – Bob Dylan
* Success is not final, failure is not fatal: it is the courage to continue that counts – Winston Churchill
* You only have to do a very few things right in your life so long as you don’t do too many things wrong – Warren Buffett (more…)

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