The difference between a trader and a gambler is frequency. A gambler does it once. A trader is committed to take the natural fluctuations in their bottom line. A gambler gives up control and takes little responsibility for the outcome. A trader sees the outcome as a learning experience. A chance to take that knowledge and let it pay over time. A gambler sees a success as a pay day. A trader see it is an opportunity. A gambler focuses on luck, a trader focus on repeatable actions. A traders can tell the difference between an aberration, for a gambler there is no distinction.
Archives of “February 2019” month
rssThought For A Day
Stock Market Quotations by Sophronia Tibbs -Quotes From 1926
Iss Hamam Mein Sab Nange Hain / All are Naked here -From Corporate to Fund Managers to Blue Channels to Analysts.
Think it over.
It’s our Open challenge to anybody :95% Traders are losers and 5% those who are earning are CC people + Insiders +Media and 1-2 Intelligent Traders.
Lakhs of Traders are on ROAD ,Lakhs of Investors had lost Trust………….!!
What makes an expert?
What makes an expert? And how can traders develop their own expertise? Three elements:
1) “Measures of general basic capacities do not predict success in a domain”
Experts cannot be distinguished by superior intellects or other cognitive talents.2) “The superior performance of experts is often very domain specific and transfer outside their narrow area of expertise is surprisingly limited”
Being an expert in one domain does not predict expertise in others; a person can be a highly accomplished trader, but not expert in other areas. Think “niche” — the successful trader has found a particular sphere of success that expresses his skills and interests.
3) “Systematic differences between experts and less proficient individuals nearly always reflect attributes acquired by the experts during their lengthy training”
The expert is one who has undergone a structured, deliberate process of training that builds competencies, offers extensive feedback, and draws upon intensive effort over time to internalize knowledge and skills. (more…)
What makes an expert? And how can traders develop their own expertise? Three elements:From Livermore's classic book Reminiscences of a Stock Operator, published in 1923
All Traders -Must Read this Book (As Many Time As u can )
Seven Things Successful Traders Do
1. Develop information avenues for market conditions and upcoming events
There are many factors that go into driving price action. Quite a few of these things are publicly known and broadcast far in advance. Find yourself a website that offers a calendar of upcoming economic events that can have an affect on currencies you trade. There is always the threat of getting whipsawed out of a position that looks pristine with the impact that news has on the markets.
Listening to analysts and advisers can provide insight on circumstances you may have overlooked. On the other hand, you want to be careful about basing your trading decisions on the information provided by one or two other people. Each trading you decision you make needs to be the right one for you, for your strategy, for your profitability. There are a lot of analysts out there and not all of them have a good grasp on what they are talking about.
2. Strive for consistency to generate repeated, positive results
Humans are creatures of habit. Working to turn your habit into instinct will provide a significant edge in your trading analysis. How do you do that? Repetition. A trader must continuously practice their method, edge, and trading circumstances to make it a natural extension of themselves. One could look at a martial artist as a metaphor for this practice. The martial artist practices, practices, and practices more to make their maneuvers an extension of their person so they don’t have to think about them when the time arises. Traders should do the same to incorporate their trading plan and practices into successful execution. (more…)
Candlestick Patterns-Traders Must Remember
The "Effort Trap"
Trading Thought For Traders
“When a market is going straight up, the natural inclination of many traders is to try calling a top. Active market players have strong desire to be the market-timing genius that nails the precise moment that a trend has come to an end. The attempt is understandable — but is it smart? In theory, you should be able to make a ton of money if you can do this with some precision, but the reality is that this is usually more of an exercise in ego than
anything else — and it doesn’t tend to produce a big profit, either. What happens when people engage in this game is that they rack up a series of losses as their trades are stopped out and they try again. The tendency is to justify the behavior by saying, “I was just a little early, but this time I’m going to nail it.” If you try long enough, you will eventually be right, but what we never hear about is how much money has been lost in the process. Would you have better off simply staying with the trend and only selling once you saw some weakness? In addition to the cost of losses on premature short positions, there is another hefty price: the profit you have lost by failing to stick with the trends. It is hard enough to keep pace with the market trend when you are long. It is just plain impossible when you are obsessed with trying to call a market turn. The combination of being on the wrong side of the
market, along with the opportunity cost of premature shorts, should give pause to anyone who is trying to time market turns.” –