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Keep the right mindset, believe that you are going to be a winning trader.

  
  Education
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The road to trading success is not an easy one, in fact, it can be painful emotionally, mentally, and financially, if you do not know what you are doing, this is why only 10% succeed. There will be countless times you will face losing trades and failures that if you are not committed to success in the long term, you’ll succumb to negative thoughts of failure and defeat and just quit.

In order to develop persistence and eventually succeed in your trading, always maintain a belief in yourself and your eventual success, regardless of your current account situation.  Keep your thoughts focused on doing the homework needed to take you towards your goals.  Avoid negative thoughts and feelings for it will ruin your concentration and persistence. Focus on where you are going and believe that only time stands between you and your trading goals. The power of this belief will surprise you.

THE RUNG OF A LADDER

  
Analysis, Education

rungofladder
Ask yourself: what are you working on right now that will make you a better person? What are you working on right now to make you a better trader?  What can you do to improve your life both in… and outside of… the charts?
There is always room for improvement and opportunities to move forward and higher.  We must be willing and open to take the next step, to climb the next rung, to see beyond whatever it is that may be an impediment to a clear vision of what could be.  The difficulty we may face in the climb is not in our inability to lift our foot but in our willingness to do so.

Lessons of the Legendary Traders

  
  Education
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What do the worlds best Trading masters differently than the average investor? Can the average investor learn from the Player Legends success stories and their techniques used? What do the most famous Players have in common that can be applied by the average talented trader?

Before we should give some insights on those questions lets have a look at some of the most successful Trade jockey Legends:

Nicolas Darvas turned an $ 36000 account into $ 2000000 in 18 months!!!
Ed Seykota, a Turtle Financier, turned $ 5’000 into $ 15’000’000 in 12 years!!!
Jesse Livermore made several multi-million USD fortunes in the early 1900’s
Richard Dennis, another Turtle Player, made between $ 100 and $ 200 000.000
George Soros is believed to be one of the greatest Trade jockey of all time!!!

The results are quite impressive and some different amazing Financiers should be added easily to the list above. Why do these guys have such tremendous results?

There are common factors, that can be observed through most of the successful Pitbull Legends:

They have a Strategy that they strictly follow.
Most of them have a trend-following average trading style.
Most of them have a mid- to long-term approach. Some of them burned their fingers over the preceding 3 years and some even lost a fortune. Here are some examples of observed behaviour patterns:

Losses are not slice early enough.
Investment with a short-term horizon become long-term horizon in hope of raising asking prices.
People listen to the advise of their invested $ Trade facilitators and Analysts.
People risk coin in hot issues recommended by colleagues of their colleagues.
People have no plan for their investments.
Money Management is not considered at all.
Greed and fear is omnipresent.

What can average talented trading insiders learn from the above and how can the mistakes listed above be avoided? The after key notches can be learned from some of the most successful Trading expert Legends:

Each investor has its own personality. Some of the investor have a very aggressive paper trading style and are stockmarket trading very frequently. Some prefer shares as different are increased risk oriented and speculate in contracts. Other players want only spend a minimum of effort. An investor need to reflect on his outline and choose a note trading approach that fits his personality.

A trade needs to be completely planned in advance. g. when they go on holiday, when they move house etc. But do they have a plan when they invest? An investor needs to have a method that helps him to be prepared for all scenarios of a exchange. One needs to know in advance when to buy, how much to buy, when to exit. Once a buy / sell is executed the bottom line of the instrument (stock, promise note, fixed interest paper etc.

The most important component of a stock trading method is Cash Management? Surprised? Lots of pitbulls and super traders spend most of their time developing a very advanced trade entry strategy. But the entry methodology contributes only approximately 15% to the success of a Note trading Method based on academic studies.
The most important question of a Paper trading Technique is how much to risk bucks and how many deals to trade at the same time.

A can do attitude is required to buy / sell successfully. Why? Because with phrases like it should be great, but I cant or one day perhaps I should succeed in the lottery, but until then I must work hard they have already lost.

The Best Wall Street Movies Of All Time

  
  Education
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Rogue Trader (1999)

In a sentence: Faster paced British version of “Wall Street.”

Plot: Based on the real-life story of Barings Bank trader Nick Leeson, Ewan McGregor does a surprisingly awesome job of emulating the British wunderkind down to his addiction to fruit candies. While a relatively unsuccessful movie at the box office, Rogue Trader is entertaining.

Trading Places (1983)

In a sentence: No movie about Wall Street is funnier than the 1983 comedy “Trading Places.”
Plot: Eddie Murphy and Dan Akroyd are at their best as director John Landis tells the tale of how one man’s fall from Wall Street is another man’s blessing. Watching Murphy talk about futures and markets is hilarious and unparalleled in humor.

Wall Street (1987)

In a sentence: The classic Wall Street film.
Plot: Oliver Stone originally set out to depict the greed associated with Wall Street in the 1980s. Little did he know, it would go on to become one of the finest pieces of financial cinema ever created. Traders still go nuts for this movie and everyone loves Michael Douglas’ character Gordan Gekko, who is modeled partly after Michael Milken and Ivan Boesky. (more…)

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