Latest Posts
rssFinancial journalism, 1902: stock promoter bribes "The Daily Boom" editor to hype his stock
Disciplined Traders vs. Emotional Traders
There are 3 exit paths for a trade
The Two Enemies of The Citizen
Accurate Representation?
You Cannot Beat The Markets; Nor Can You Really Fully Know Them
YOUNG MONK: “Do not try and bend the spoon—that’s impossible. Instead, only try to realize the truth.”
NEO: “What truth?”
YOUNG MONK: “There is no spoon.”
This is one of the key ideas in the Matrix: that what our eyes or senses perceive is not necessarily reality. By stepping into the trader’s chart, we only know so much about the reality we are anticipating and perceiving. Whilst we can stack the odds in our favour by plugging in the appropriate programs, using the right indicators, reading the news, we are nevertheless trading probabilities, as opposed to fixed, quantifiable outcomes. We can set our parameters for action within this hyper-reality and hone our knowledge and experience as we take the trades, but we cannot know outcomes. As the young Buddhist monk tells Neo, we must bend our minds to the task, we cannot bend the markets…
Loser's Mindset-When In A Losing Trade- Graphic
Stephen Covey: Small TRIBUTE
Stephen Covey passed away,Leaves his 7-HABITS ever for all of us Haven’t read the book yet? Here’s a summary of what he believes are the 7 Habits of Highly Effective People: Habit 1 – be proactive® This is the ability to control one’s environment, rather than have it control you, as is so often the case. Self determination, choice, and the power to decide response to stimulus, conditions and circumstances Habit 2 – begin with the end in mind® Covey calls this the habit of personal leadership – leading oneself that is, towards what you consider your aims. By developing the habit of concentrating on relevant activities you will build a platform to avoid distractions and become more productive and successful. Habit 3 – put first things first® Covey calls this the habit of personal management. This is about organising and implementing activities in line with the aims established in habit 2. Covey says that habit 2 is the first, or mental creation; habit 3 is the second, or physical creation. Habit 4 – think win-win® Covey calls this the habit of interpersonal leadership, necessary because achievements are largely dependent on co-operative efforts with others. He says that win-win is based on the assumption that there is plenty for everyone,and that success follows a co-operative approach more naturally than the confrontation of win-or-lose. Habit 5 – seek first to understand and then to be understood® One of the great maxims of the modern age. This is Covey’s habit of communication, and it’s extremely powerful. Covey helps to explain this in his simple analogy ‘diagnose before you prescribe’. Simple and effective, and essential for developing and maintaining positive relationships in all aspects of life. Habit 6 – synergize® Covey says this is the habit of creative co-operation – the principle that the whole is greater than the sum of its parts, which implicitly lays down the challenge to see the good and potential in the other person’s contribution. Habit 7 – sharpen the saw® This is the habit of self renewal, says Covey, and it necessarily surrounds all the other habits,enabling and encouraging them to happen and grow. Covey interprets the self into four parts: the spiritual, mental, physical and the social/emotional, which all need feeding and developing. |