Ikeda will be one of two deputies to new FinMin Noda and he has in the past been very vocal in his calls for the BoJ to embark on full-scale monetary easing to get inflation out to about 2% and get the USD/JPY back towards 120.
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rssMotohisa Ikeda, new Japanese deputy finance minister, another weak-JPY promoter
HOPE
Hope is a four letter word.An appropriate acronmym for HOPE Could be ;
Having
Our
Prayers
Expected.
False hope is great source of misery and no just in the trading arena.Prayers are always good by keeping in mind that some of Gods greatest gifts are her unanswered prayers.
Hoping is a sign that the trder has no control over his position.Traders should never be hoping and always trying to control the amount of risk at stake at all times.Always trading-never hoping should be a traders’s motto.
Skill versus Hard work
Is trading success dependent on innate skills? Or is hard work suffi-cient? There is no question in my mind that many of the supertraders have a special talent for trading. Marathon running provides an appro-priate analogy. Virtually anyone can run a marathon, given sufficient commitment and hard work. Yet, regardless of the effort and desire, only a small fraction of the population will ever be able to run a 2:12 marathon. Similarly, anyone can learn to play a musical instrument. But again, regardless of work and dedication, only a handful of individuals possess the natural talent to become concert soloists. The general rule is that exceptional performance requires both natural talent and hard work to realize its potential. If the innate skill is lacking, hard work may pro-vide proficiency, but not excellence.
In my opinion, the same principles apply to trading. Virtually any-one can become a net profitable trader, but only a few have the inborn talent to become supertraders. For this reason, it may be possible to teach trading success, but only up to a point. Be realistic in your goals.
Naked Truth about Mutual Funds ,Fund Managers
In India ,After Corporates …………..Biggest Manipulation is done by Mutual Funds !!
Useful Thoughts To Counter Fear
– Losses are a simple cost of doing business
– Since you always limit your lose to an amount of your account can withstand, there is nothing to fear.
– You have the courage to do whatever it takes to succeed at trading
– Each Trade is but one of many
– You keep your focus in the present because this is where the action is
– The potential profits are worth the risk
– Trading is about money, it’s not about your survival.
– Trading is only one way in which you can make money.
– You learn and grow stronger with each trading experience
– The future of your trading is bright.
Legendary Commodities Trader Marc Rich Has Died
Marc Rich, father of modern oil trading and founder of the group that became Glencore Xstrata, has died at the age of 78, the head of his philanthropic foundation said on Wednesday.
Many of the biggest players in oil and metals trading trace their roots back to Rich, whose triumph in the 1960s and 70s was to create a spot market for oil, wresting business away from the world’s big oil companies.
Rich, however, was also a controversial figure. He was forced to flee the United States for Switzerland in 1983 after allegedly taking advantage of the 1980 U.S. embargo against Iran to make huge profits in illicit Iranian oil sale.
“Marc Rich passed away this morning at his home in Lucerne. He will be brought to Israel for burial,” Avner Azulay, managing director of Marc Rich Foundation, said by telephone. (more…)
Livermores Seven Trading Lessons
Lesson Number One: Cut your losses quickly.
As soon as a trade is contemplated, a trader must know at what point in time he’ll be proven wrong and exit a position. If a trader doesn’t know his exit before he takes the entry, he might as well go to the racetrack or casino where at least the odds can be quantified.
Lesson Number Two: Confirm your judgment before going all in.
Livermore was famous for throwing out a small position and waiting for his thesis to be confirmed. Once the stock was traveling in the direction he desired, Livermore would pile on rapidly to maximize the returns.
There are several ways to buy more in a winning position — pyramiding up, buying in thirds at predetermined prices, being 100% in no more than 5% above the initial entry — but the take home is to buy in the direction of your winning trade – never when it goes against you.
Lesson Number Three: Watch leading stocks for the best action.
Livermore knew that trending issues were where the big money would be made, and to fight this reality was a loser’s game.
Lesson Number Four: Let profits ride until price action dictates otherwise.
“It never was my thinking that made the big money for me. It always was my sitting.”
One method that satisfies the desire for profit and subdues the fear of a losing trade is to take one half of your profit off at a predetermined level, put a stop at breakeven on the rest, and let it play out without micromanaging the position.
Lesson Number Five: Buy all-time new highs.
The psychological merits of buying all-time or 52-week highs are immense and shouldn’t be discounted as a part of your overall strategy. (more…)
Thought For A Day
Trade in Private
Never under any circumstances reveal your trading positions to anyone. Your mind must be in complete harmony with your trading positions. When you reveal your positions to someone, they will immediately start to question the trade and start to erode your confidence and concentration in the trade. You will then be a less effective trader and eventually lose.