Latest Posts

rss

10 Quotes by Mark Douglas

  
  Education
#  #  #  #  #  #  #  #

reading“I know it may sound strange to many readers, but there is an inverse relationship between analysis and trading results. More analysis or being able to make distinctions in the market’s behavior will not produce better trading results. There are many traders who find themselves caught in this exasperating loop, thinking that more or better analysis is going to give them the confidence they need to do what needs to be done to achieve success. It’s what I call a trading paradox that most traders find difficult, if not impossible to reconcile, until they realize you can’t use analysis to overcome fear of being wrong or losing money. It just doesn’t work!”
-Mark Douglas

“There is a random distribution between wins and losses for any given set of variables that defines an edge. In other words, based on the past performance of your edge, you may know that out of the next 20 trades, 12 will be winners and 8 will be losers. What you don’t know is the sequence of wins and losses or how much money the market is going to make available on the winning trades. This truth makes trading a probability or numbers game. When you really believe that trading is simply a probability game, concepts like “right” and “wrong” or “win” and “lose” no longer have the same significance. As a result, your expectations will be in harmony with the possibilities.”
-Mark Douglas

The less I cared about whether or not I was wrong, the clearer
things became, making it much easier to move in and out of positions,
cutting my losses short to make myself mentally available to take the next opportunity.
– Mark Douglas (more…)

Livermore quotes

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #

Jesse_Livermore_quotesLivermore on irationality

Trying to figure out the “why” of amarket move can often cause great emotional strife. The simple fact is, the market always precedes economic news, it does not react to economic news. The market lives and operates in future time.

 
Livermore on knowing yourself

It is my conclusion that playing the market is partly an art form, it is not just pure reason. If it were pure reason, then somebody would have figured it out long ago. That’s why I believe every speculator must analyze his own emotions to find out just what stress level he can endure. Every speculator is different, every human psyche is unique, every personality exclusive to an individual. Learn your own emotional limits before attempting to speculate, that is my advice to any one who has ever asked me what makes a successful speculator. If you can’t sleep at night, because of your stock market position than you have gone too far, if this is the case then sell your position down to the sleeping level. (more…)

Socrates on Success

  
Education, Life
#  #  #  #  #  #  #

“Once A young man asked Socrates the secret of success. Socrates told the young man to meet him near the river the next morning. They met. Socrates asked the young man to walk with him into the river. When the water got up to their neck, Socrates took the young man by surprise and swiftly ducked him into the water.

The boy struggled to get out but Socrates was strong and kept him there until the boy started turning blue. Socrates pulled the boy’s head out of the water and the first thing the young man did was to gasp and take a deep breath of air.

Socrates asked him, “what did you want the most when you were there?” The boy replied, “Air”. Socrates said, “That is the secret of success! When you want success as badly as you wanted the air, then you will get it!” There is no other secret.”

Google Commercial- 6 Lac Hits in 2 Days (Really Great )

  
Education, Video
#  #  #  #  #  #  #  #  #  #

Google commercials have always been quite engaging. Google India is out with a 3.5 minute heart-warming advertisement titled ‘Google Search: Reunion’. The Reunion advertisement tells you a story of how two friends got separated during the time of India and Pakistan partition. The Indian grand daughter Suman plans to bring them together again and uses Google search as the medium to search for her grand fathers long lost friend in Pakistan. She succeeds using Google search and its allied services.
Reports suggest this is the first in the series of 5 advertisements. The video is touching half a million views in just a day of its launch.

Wall Street Makes It Hard to Earn Legal Living

  
Analysis, Education
#  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #

Schroeder_lg_lgAlice Schroeder is the author of “The Snowball: Warren Buffett and the Business of Life”, a former managing director at Morgan Stanley, and is a Bloomberg News columnist. Below is a great opinion piece she wrote for Bloomberg.
Read more here:
A group of university students I spoke to recently asked if it was possible to make a living on Wall Street without compromising your values. I had to tell them no.
Wall Street has many decent, honorable people, but they work in a system that fundamentally compromises people’s ethics. The high pay is like an anesthetic that numbs you from feeling how you are being corrupted. Not only that, many honest people who work there would agree with an even more extreme statement: It’s hard to make a living legally on Wall Street. (more…)

Go to top