rss

12 Quotes From Dr.APJ Abdul Kalam.

“All birds find shelter during a rain. But eagles avoid rain by flying above the clouds. Problems are common, but attitude makes the difference.”

“Only when you have the courage to lose sight of shore, can you discover the oceans.”

“Do not wait for something big to happen. Start with whatever you have now.”

“There is no greatness without simplicity, righteousness and truth.”

“It is very easy to defeat someone, but it is very hard to win someone.”

“A dream is not that which you see while sleeping, it is something that does not let you sleep.”

“Suffering is the essence of success.”

“Thinking is the capital, enterprise is the way, hard work is the solution.”

“Sometimes it’s better to fail a class and enjoy your friends, because when I look back now, marks never make me laugh, but memories do.”

“Once your mind stretches to a new level it never goes back to its original dimension.”

“A big shot is a little shot who keeps on shooting, so keep trying.”

“Ask yourself: what will I be remembered for?

Trading Fear and Trading Greed

At any moment in time, all traders have experienced greed and fear. These are most common human behavior in the markets and they are the major culprit in ruining accounts.

Trading or investing is a simple concept but certainly not as easy. Many start out believing it’s just a matter of learning a method or strategy and everything will follow. But they find out later that it’s a frustrating endeavor. Why? Greed and fear stay even after incorporating a winning strategy. The end result: human emotions are the driver that ruins the tactic, methods, and strategies. How?

Here are a few examples of what greed and fear do:

  • Not setting a stop when the method requires placing a stop (fear of taking a loss).
  • Moving a stop when it shouldn’t have been moved (fear of taking a loss).
  • Removing a stop when it was already in place (fear of taking a loss).
  • Taking profits too early when the signal to exit has not been given (fear of profits being taken).
  • Taking profits too late when the signal is already given (greed).
  • Chasing the market when the entry is already past or no signal was given (greed of missing profits).
  • Not making the entry when the signal is given (fear of losing again).
  • Buying the pullback that is no longer a pullback but a decline (greed based on judgment that it’s now cheaper) or short selling when the rally is now a continued primary direction (fear of losing).
  • Adding on a losing position, i.e. averaging down (fear of losing). (more…)

Genius Traders have 4 C's

4c
 
4c

There is too much emphasis on confidence as the primary characteristic of successful traders. However, it counts for very little on its own without incorporating commitment, courage, and control. Confidence allows you to execute your trades in an objective manner.

What is the biggest confidence killer to a trader? The unrealistic expectation that every trade will be a winner.Even highly competitive traders accept some trades will fail, and remain confident in their trading abilities.

Commitment. It is important to your continued success that you commit to improving your trading performance.Pledge to give your best and learn to improve each day if you expect to maintain a high level of performance. Your investing education never ends. (more…)

Personal Life And Its Influence On Trading

Richard smittenI’ve just finnished reading a book of Richard Smitten “Jesse Livermore World’s Greatest Stock Trader”. Amazing read. For those who want to know how important psycholigal influence on trading, this is a book to read. I’d like to say a few things about greatest trader. He failed in the market when he started going to other women, he stopped being focused on the market, his 3-d wife (who brought him 2 beautiful boys Jesse Jr and Paul) Dorothy was his soul companion as later his son Jesse Jr will say. Jesse Livermore made 100 millions during October 1929 crash, at that time he was one of the richest men in the world, in 1932 his wife filed for divorce and took away their 2 boys from him, he was empty, depressed, sitting on his cash, understanding that he’s life is actually a failure(its why he later commited a suicide). Its when he started losing it all. No one knows his trades after 1932, but the majority were losses and then he finally filed bankruptsy. He still had 1 million untouchable fun for his kids and about 3 million dollars in cash(in his apartment in New York), his 4-th wife took it 3 million in cash in the bags out of house after he commited suicide( his son Paul tells about it). (more…)

Go to top