Think & Act : That's you. Know when to adjust. When to move on. When to take action. Know when to jump.
Archives of “Education” category
rssThe World’s Largest Defense Budgets.Just see China & India Numbers
Cycle To Become Financial Independent
Nassim Taleb's Six Rules For Succeeding In Life
Success in all endeavors is requires absence of specific qualities.
1) To succeed in crime requires absence of empathy,
2) To succeed in banking you need absense of shame at hiding risks,
3) To succeed in school requires absence of common sense,
4) To succeed in economics requires absence of understanding of probability, risk, or 2nd order effects and about anything,
5) To succeed in journalism requires inability to think about matters that have an infinitesimal small chance of being relevant next January,
…6) But to succeed in life requires a total inability to do anything that makes you uncomfortable when you look at yourself in the mirror.
How does MSCI define the world?
Hockey Stick Forecast For Traders -Investors
21 Trading Rules of Jesse Livermore’s Written in 1940
1. Nothing new ever occurs in the business of speculating or investing in securities and commodities.
2. Money cannot consistently be made trading every day or every week during the year.
3. Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion.
4. Markets are never wrong – opinions often are.
5. The real money made in speculating has been in commitments showing in profit right from the start.
6. As long as a stock is acting right, and the market is right, do not be in a hurry to take profits.
7. One should never permit speculative ventures to run into investments. (more…)
Jesse Livermore’s Speculative Chart
Trade the strategy you know. Familiarity is a wonderful thing.
Anything Can Happen
I have a mini-mantra that I tell myself when I place a trade. “You never know what’s just around the corner – anything can happen.”
This statement allows me to recognise that my trade might be a loser, but it could also be the trade of a lifetime. So many times when I was testing my method I came across a trade that I was hesitant to enter, only to have it rip through resistance and go on to be an outrageous winner. It confirmed to me that my opinion means nothing, and anything can happen. Not only can anything happen, we need to be prepared for anything to happen.
That means we need to be equally as prepared for a winner as a loser, both in our trading system and also in our head.
If you are equally prepared for your trade to be a winner as you are for it to be a loser, you’re one step closer to having a more healthy balance to your trading.
If you’re having trouble pulling the trigger because you’re terrified of losing any more money, implementing these things can help. But it’s not instant – it’s an ongoing process to achieving a healthier, more balanced way of thinking.