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rssThe European Countries With The Most Psychiatrists
If Europe is driving you nuts, we have some simple advice… head to Finland!
As Statista’s Niall McCarthy notes, according to new Eurostat data released to mark World Mental Health Day, the European Union has about 90,000 psychiatrists in total and Finland has the most per 100,000 inhabitants (23.60) followed by Sweden (23.19) and the Netherlands (22.95).
You will find more statistics at Statista
The fewest per 100,000 people can be found in Malta (9.49), Poland (9.01) and Bulgaria (7.59).
In 2014, 183,500 people across the EU died due to mental and behavioural disorders with women accounting for around two-thirds of all deaths.
10 Attributes Exceptional Traders possess
- A persistent unquenchable motivation to compete and achieve personal stock market mastery
- A personally developed hands-on strategy in writing that fits your personality.
- The ability to be brutally honest and objective about your beliefs and weaknesses.
- An inner resiliency to weather all market storms with little emotional scar tissue.
- Well-defined risk management rules and an ability to accept responsibility for losses.
- Unassailable confidence in your system and yourself.
- Discipline to follow your methodology and act decisively.
- A strong ethic for working hard but also working smart.
- Patience and an ability to wait for high probability trades to materialize.
- A willingness to embrace change, to modify your thinking, to rewrite your methodology and transform yourself.
A trading plans 3 basic elements
10 Trading Principles of George Soros
“I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.”
Understanding that he was not always right enabled him to cut losses short and position size right.
“My approach works not by making valid predictions but by allowing me to correct false ones.”
Soros’ is flexible in his trades, he changes his mind and reverses positions when needed. He does not marry his trades.
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”
George Soros knows that the key to profitability for him is more about big wins and small losses than his winning percentage.
“The markets are always on the side of exuberance or fear. It’s fear and greed. Right now greed has the better of it, which is rather nice (for investors) as long as it doesn’t get out of hand,”
Market trends are caused more by the extremes of investors emotions than fundamental reasons.
“Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.”
The problem is not in a losing trade but in failing to cut the loss or add to a losing position.
“The worse a situation becomes, the less it takes to turn it around, and the bigger the upside.”
The more extended a trend gets from its average the greater the odds of a snap back and reversion to that mean.
“If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.” (more…)
Failure
I’ve been thinking about failure. There are several kinds. One is inevitable: the failing of organs leading to death. Everyone fails in this regard. I suppose it is the manner of living, style, and health before that defines whether death is a failure or the end of a good life. Failure of health is bad. It’s important to take care of health. It’s the most important thing there is.
Another kind of failure is failure of judgment. We’ve all had them. These are mistakes, failure to see the train coming at you. Looking back, they are usually pretty stupid in hindsight, but very hard to see in real time. If you learn from them and grow, and let them go, they won’t ruin your life.
That brings up the next type of failure. Failures in a career, a marriage, a relationship, a friendship, an investment, or a business are serious and not easily overcome. More than one is very bad. Sure Ray Kroc overcame failure dozens of times, but most cannot. The odd thing is that some people don’t see why they failed. They don’t see what they did caused their failure. This is the bottom half that thinks they are better than most, the rationalizers. (more…)
4 Types of Problems For Traders
1) Problems of training and experience – Many traders put their money at risk well before they have developed their own trading styles based on the identification of an objective edge in the marketplace. They are not emotionally prepared to handle risk and reward, and they are not sufficiently steeped in markets to separate randomness from meaningful market patterns. They are like beginning golfers who decide to enter a competitive tournament. Their frustrations are the result of lack of preparation and experience. The answer to these problems is to develop a training program that helps you develop confidence and competence in identifying meaningful market patterns and acting upon those. Online trading rooms, where you can observe experienced traders apply their skills, are helpful for this purpose.
2) Problems of changing markets – When traders have had consistent success, but suddenly lose money with consistency, a reasonable hypothesis is that markets have changed and what once was an edge no longer is profitable. This happened to many momentum traders after the late 1990s bull market, and it also has been the case for many scalpers after volatility came out of the stock indices. Here the challenge is to remake one’s trading, either by retaining the core strategy and seeking other markets with opportunity or by finding new strategies for one’s market. The answer to these problems is to reduce your trading size and re-enter a learning curve to become acquainted with new markets and methods. Figuring out how you learned the markets initially will help you identify steps you need to take to relearn new patterns.
3) Situational emotional problems – These are emotional stresses that are recent in origin and that interfere with decision making and performance. Some of these stresses might pertain to trading, such as frustration after a slump or loss. Some might stem from one’s personal life, as in a relationship breakup or increased financial pressures due to a new home or child. Very often these problems create performance anxieties by putting the making of money ahead of the placing of good trades. The answer to these problems is to seek out short-term counseling to help you gain perspective on the problems and cope with them effectively.
Japans wants to beam solar from space
By 2030, Japan hopes to build a solar station in space, that beams the energy back to Earth via lasers and microwaves. One wonders why they couldn’t just do this on Earth like Sunpower. Perhaps it’s because they don’t have enough land, or sunshine, or both.
Skydivers better get out of the way! And the Japanese may see roasted ducks dropping from the sky on a daily basis.
The shocking ingredients in Cigarettes.
Insightful quotes from Trading legend, Larry Hite
No matter what information you have, no matter what you are doing, you can be wrong.
One of the great things about the market is, the markets don’t care about you. The market doesn’t care what color you are. The markets don’t care if you are short or tall. They don’t care about anything. They don’t care whether you leave or stay.
… the beautiful thing about the markets, they don’t like you, they don’t dislike you, they just don’t care. They are there everyday. You want to play, you can play. You don’t want to play, don’t play.
We approach markets backwards. The first thing we ask is not what can we make, but how much can we lose. We play a defensive game.
There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet, no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
