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Are You A Subjective or Objective Trader?

  
  Education
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Subjective: Based on or influenced by personal feelings, tastes, or opinions.Proceeding from or taking place in a person’s mind rather than the external world.

Subjective traders they are intertwined with their trades.Their signals are generally entering out of greed and exiting based on their own internal fear. The believe in their opinions more than the actually price action. They base trades off of whether they are feeling good or bad about a particular trade. A subjective trade comes out of the imagination of the trader, from their own beliefs, opinions, and what “should” happen in their view. Many times reality is not even cross checked as a reference, and if it is the subjective traders sees what they want to see instead of what is really going on. Their compass is their emotions and they have internal goals other than making money.

Objective: (Of a person or their judgment) not influenced by personal feelings or opinions in considering and representing facts. Having actual existence or reality. (more…)

20 Quotes From -Trading in the Zone :Mark Douglas

  
  Education
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1.) When it comes to trading, it turns out that the skills we learn to earn high marks in school, advance our careers and create relationships with other people, turn out to be inappropriate for trading.  Traders must learn to think in terms of probabilities and surrender all of the skills acquired to achieve in virtually every other aspect of life.

2.) Within 9 months of moving to Chicago, I had lost nearly everything I owned.  My losses were the result of both my trading activities and my exorbitant lifestyle, which demanded that I make a lot of money as a trader.

3.) You don’t need to know what’s going to happen next to make money.  Anything can happen.  Every moment is unique, meaning every edge and outcome is truly a unique experience.  The trade either works or it doesn’t.

4.) More or better market analysis is not the solution to his trading difficulties or lack of consistent results.  It is attitude and “state of mind” that determine his results.  A winner’s mindset means learning how to think in probabilities.

5.) The edge means there’s a higher probability of one outcome than another.  The greater your confidence, the easier it will be to execute your trades.

6.) Do you ever feel compelled to make a trade because you are afraid that you might miss out?

(more…)

The 150 Things the World's Smartest People Are Afraid Of

  
Education, Life
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Every year, the online magazine Edge–the so-called smartest website in the world–asks the top scientists, technologists, writers, and academics to weigh in on a single question. This year, that question was “What Should We Be Worried About?” and the idea was to identify new problems arising in science, tech, and culture that haven’t yet been widely recognized. 

This year’s respondents include former presidents of the Royal Society, Nobel prize-winners, famous sci-fi authors, Nassem Nicholas Taleb, Brian Eno, and a bunch of top theoretical phsycists, psychologists and biologists. And the list is long. Like, book-length long. Tthere are some 130 different things that worry 151 of the planet’s biggest brains. And I read it, so you don’t have to: here’s the Buzzfeedized version, with the money quote, title, or summary of the fear pulled out of each essay. Obviously, go read the rest if any of the below get you fretting. 

What keeps the smartest folks in the world awake at night? Here goes:

1. The proliferation of Chinese eugenics. – Geoffrey Miller, evolutionary psychologist.

2. Black swan events, and the fact that we continue to rely on models that have been proven fraudulent. – Nassem Nicholas Taleb

3. That we will be unable to defeat viruses by learning to push them beyond the error catastrophe threshold. – William McEwan, molecular biology researcher

4. That pseudoscience will gain ground. – Helena Cronin, author, philospher

5. That the age of accelerating technology will overwhelm us with opportunities to be worried. – Dan Sperber, social and cognitive scientist (more…)

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