Alexander Elder -Trading Quotes
Archives of “February 2019” month
rssGandhi & Trading
Gandhi’s Fundamentals for Changing the World & Day Trading
Just Completed reading this book last night and I think I had read more then 5 times since my college days.
Just Two Thought from GANDHI ……For Life & For Day Trading !!
You are in control.
“Nobody can hurt me without my permission.”
What you feel and how you react to something is always up to you. There may be a “normal” or a common way to react to different things. But that’s mostly just all it is.
You can choose your own thoughts, reactions and emotions to pretty much everything. You don’t have to freak out, overreact of even react in a negative way. Perhaps not every time or instantly. Sometimes a knee-jerk reaction just goes off. Or an old thought habit kicks in.
And as you realize that no-one outside of yourself can actually control how you feel you can start to incorporate this thinking into your daily life and develop it as a thought habit. A habit that you can grow stronger and stronger over time. Doing this makes life a whole lot easier and more pleasurable.
Without action you aren’t going anywhere.
“An ounce of practice is worth more than tons of preaching.”
Without taking action very little will be done. However, taking action can be hard and difficult. There can be much inner resistance.
And so you may resort to preaching, as Gandhi says. Or reading and studying endlessly. And feeling like you are moving forward. But getting little or no practical results in real life.
So, to really get where you want to go and to really understand yourself and your world you need to practice. Books can mostly just bring you knowledge. You have to take action and translate that knowledge into results and understanding.
Technically Your’s
Anirudh Sethi ,Baroda/India
Traders, meet your own worst enemy in your search for profitability. Successful trading is about overcoming self
A lot can be done to escape the illusion of the "I"
Don't Be Fooled By Stock Market Noise
- The volume of market and economic information is increasing exponentially, but the amount of useful information certainly isn’t.
- Most of it is just noise, and the noise is increasing faster than the signal; hence, the higher the noise-to-signal ratio.
- The “signal” is the truth and needs to be taken seriously; the “noise” is what distracts us from the truth and needs to be ignored.
- This is why the higher the noise-to-signal ratio, the more difficult it becomes to make intelligent investment decisions.
- Investors must use “filters” to separate the signal from the noise – this will improve their decision-making and investment performance.
Religion -Great Thought From Bertrand Russel
23 One Liner For Traders
1. All successful traders use methods that suit their
personality; You are neither Waren Buffett nor George Soros nor Jesse Livermore; Don’t assume you can trade like them.
2. What the market does is beyond your control; Your reaction to the market, however, is not beyond your control. Indeed, its the ONLY thing you can control.
3. To be a winner, you have to be willing to
take a loss;
(The Stop-Loss Breakdown)
4. HOPE is not a word in the winning Trader’s vocabulary;
5. When you are on a
losing streak — and you will eventually find yourself on one — reduce your position size;
6. Don’t underestimate the time it
takes to succeed as a trader — it takes 10 years to become very good at anything; (There Are No Shortcuts)
7. Trading is a vocation — not a
hobby
8. Have a business/trading plan;
(Write This Down)
9. Identify your greatest weakness, Be honest — and DEAL with it (more…)
Wisdom is knowing the limits of your knowledge
What does it mean to be wise? What is Wisdom?
One of the more interesting aspects to wisdom is self-awareness. “Thinking about wisdom,” writes Stephen Hall in his book Wisdom: From Philosophy to Neuroscience, “almost inevitably inspires you to think about yourself and your relationship with the larger world.” The book is an investigation into fuzzy questions such as how can it help us shed light on the process by which we deal with big decisions and dilemmas.
He writes:
Wisdom requires an experience-based knowledge of the world (including, especially, the world of human nature). It requires mental focus, reflecting the ability to analyze and discern the most important aspects of acquired knowledge, knowing what to use and what to discard, almost on a case by case basis (put another way, it requires knowing when to follow rules, but also when the usual rules no longer apply). It requires mediating, refereeing, between the frequently conflicting inputs of emotion and reason, of narrow self-interest and broader social interest, of instant rewards or future gains. Moreover, it expresses itself through an insistently social vocabulary of interactive behavior: a fundamental sense of justice (which is sometimes described as an innate form of morality, of knowing right from wrong), a commitment to welfare of social (and, for that matter, genetic) units that extend beyond the self, and the ability to defer immediate self-gratification in order to achieve the greatest amount of good for the greatest number of people. (more…)
Dubai gets $10 billion injection
DUBAI — Dubai said Monday that it has received $10 billion in financing from Abu Dhabi, which will pay part of the debt held by conglomerate Dubai World and its property unit Nakheel.
Out of this, $4.1 billion will be used to repay Nakheel’s Islamic bond, or sukuk, that matures Monday. The remainder of the funds will be used to finance Dubai World’s needs up until the end of April 2010.
“We are here today to reassure investors, financial and trade creditors, employees, and our citizens that our government will act at all times in accordance with market principles and internationally accepted business practices,” Sheikh Ahmed bin Saaed al-Maktoum said in a statement.
Dubai rocked world markets in late November when it requested a freeze on debt payments by Dubai World in order to restructure the conglomerate. Nakheel’s bond had been seen by many as a litmus test for Dubai’s ability to repay more than $80 billion of government and corporate debt.
“I think Abu Dhabi saw the adverse market reaction to Nakheel debt restructuring news play out over several days and perhaps decided they had seen enough,” said Saud Masud, senior real estate analyst at UBS AG.
Expectations that Nakheel could reach a positive outcome helped boost shares in Dubai on Sunday. The Dubai Financial Market’s main index closed up 3.3% at 1695.35, extending Thursday’s 7% rally. However, the benchmark is still down about 19% since Dubai World requested the debt freeze.
“This is very positive news, and will be welcomed relief to bondholders in particular. We are expecting a strong positive reaction to U.A.E. and regional markets,” said Ali Khan, managing director at Arqaam Capital. “Details yet to emerge, however headline is very positive.”
In its statement, Dubai said it will focus on addressing the concerns of Dubai World’s creditors and will start discussions with creditors and contractors shortly.
Jim Simons: The Mathematician Who Cracked Wall Street -VIDEO
Jim Simons was a mathematician and cryptographer who realized: the complex math he used to break codes could help explain patterns in the world of finance. Billions later, he’s working to support the next generation of math teachers and scholars. TED’s Chris Anderson sits down with Simons to talk about his extraordinary life in numbers.
Jim Simons: A rare interview with the mathematician who cracked Wall Street