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The James Bond Method To Stock Trading

  
  Education
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So you want to be high flyer? Drive fast cars, attract the hot women, and travel the world? What sounds like the James Bond way of living, isn’t actually too far off that of a successfully wild stock trader?

While this approach might not be the most risk-adverse style of trading , we can all learn a thing or two from James Bond when it comes to making big bucks in the stock market.

Don’t worry about the consequences

While he may get himself into some crazy situations, James Bond never lets fear get in the way of getting the job done. Bond will walk straight into dark hallways and rooms filled of bad guys, confident that he has the upper hand.

Just like Bond, you too can block out potential consequences of stock trading. Don’t let the fear of losing money or a failed trade scare you away. Head into any situation, confident in your trading strategy.

Never get stressed out

For as great as Bond is, no other action hero gets caught into messy situations as much as Bond does. From the initial capture to just seconds before he finds his way out, Bond never loses his cool.

He stays calm under pressure and focuses on what to do next, rather than what might happen.

Just like Bond, you too can learn to keep cool under difficult situations. Understand that you don’t necessarily need to sell at the first sign of red or throw more money at the stock. Simply stay calm, asses the situation, and find your way out.

Don’t stick around too long (more…)

6 Stages Of A Trader

  
  Education
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Very interesting description of how traders evolve over time. The pieces of advice Bo Yoder andVadym Graifer give at the end of the article are spot on. Definitely worth reading as every trader worth his salt can relate to all the different stages. Enjoy.
Stages of a Trader
Stage One: The Mystification Stage (by Bo Yoder)
This is where the neophyte trader begins. He has little or no understanding of market structure. He has no concept of the interrelationship among markets, much less between markets and the economy. Price charts are a meaningless mish-mash of colored lines and squiggles that look more like a painting from the MOMA than anything that contains information. Anyone who can make even a guess about price direction based on this tangle must be using black magic, or voodoo.
However, as one begins to observe, read, study, the mess may begin to resolve itself into something that may make sense. Sort of.
Stage Two: The Hot Pot Stage
You scan the markets every day. After a while (sometimes a good long while), you notice a particular phenomenon which pops up regularly and seems to “work” pretty well. You focus on this pattern. You begin to find more and more instances of it and all of them work! Your confidence in the pattern grows and you decide to take it the very next time it appears. You take it, and almost immediately your stop is hit, and you’re underwater for the total amount of your stop-loss.
So you back off and study this pattern further. And the very next time it appears, it works. And again. And yet again. So you decide to try again. And you take the full hit on your stoploss.
Practically everyone goes through this, but few understand that this is all part of the win-lose cycle. They do not yet understand that loss is an inevitable part of any system/strategy/method/whathaveyou, that is, there is no such thing as a 100% win approach. When they gauge the success of a particular pattern or setup, they get caught up in the win cycle. They don’t wait for the “lose” cycle to see how long it lasts or what the win/lose pattern is. Instead, they keep touching the pot and getting burned, never understanding that it’s not the pot (pattern/setup) that’s the problem, but a failure on their part to understand that it’s the heat from the stove (the market) that they’re paying no attention to whatsoever. So instead of trying to understand the nature of thermal transfer (the market), they avoid the pot (the pattern), moving on to another pattern/setup without bothering to find out whether or not the stove is on. (more…)

New Golf expressions

  
Education, Humour, Life
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A ‘Rock Hudson’ – a putt that looked straight, but wasn’t.

A ‘Saddam Hussein’ – from one bunker into another.

A ‘Yasser Arafat’ – butt ugly and in the sand.

A ‘John Kennedy Jr.’ – didn’t quite make it over the water.

A ‘Rodney King’ – over-clubbed.

An ‘O.J.’- got away with one.

A ‘Princess Grace’ – should have used a driver.

A ‘Princess Di’ – shouldn’t have used the driver.

A ‘Condom’ – safe, but didn’t feel very good.

A ‘Brazilian’ – shaved the hole.

A ‘Rush Limbaugh’ – a little to the right.

A ‘Nancy Pelosi’ – Way to the left and out of bounds.

A ‘James Joyce’ – a putt that’s impossible to read.

A ‘Ted Kennedy’ – goes in the water and jumps out.

A ‘Pee Wee Herman’ – too much wrist.

A ‘Sonny Bono’ – straight into the trees.

A ‘Paris Hilton’ – a very expensive hole.

A `Tiger Woods’ – Wrong Hole.

11 Gambling Habits

  
  Education

1. High-volume trading in which the “action” has become more compelling than the objective of the trade.

2. Preoccupation with one’s investments (e.g., excessive studying of investment newspapers or websites, thoughts about the market that interfere with work or one’s social life, constant calls to one’s broker).

3. Needing to increase the amount of money in the market or the “leverage” of one’s investments to feel excited (e.g., using options or future contracts, borrowing on margin).

4. Repeated unsuccessful efforts to stop or control one’s market activity (e.g., drawing on accounts previously declared off limits, contradicting or changing limit orders on losses or gains).

5. Restlessness or irritability when attempting to cut down or stop market activity, or when cash is accruing in one’s account.

6. Involvement in market activity to escape problems, relieve depression, or distract oneself from painful emotions. (more…)

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