Latest Posts

rss

30 Rules for Traders

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #
  • Buying a weak stock is like betting on a slow horse. It is retarded.
  • Stocks are only cheap if they are going higher after you buy them.
  • Never trust a person more than the market. People lie, the market does not.
  • Controlling losers is a must; let your winners run out of control.
  • Simplicity in trading demonstrates wisdom. Complexity is the sign of inexperience.
  • Have loyalty to your family, your dog, your team. Have no loyalty to your stocks.
  • Emotional traders want to give the disciplined their money.
  • Trends have counter trends to shake the weak hands out of the market.
  • The market is usually efficient and can not be beat. Exploit inefficiencies.
  • To beat the market, you must have an edge. (more…)

15 Ways to Manage Trader Stress

  
  Education
#  #  #  #  #  #  #  #  #

  1. Only risk 1% of total trading capital per trade with stop losses and proper position sizing. Proper positions sizing makes the emotional impact of any one trade only one of the next one hundred a totally different mental perspective than an all in/have to be right Hail Mary trade.

  2. Only trade a  position size you are comfortable with.
  3. Trade a method or system you believe in based on back testing of a positive expectancy.
  4. Know where you will get out of a trade before you get in.
  5. Only trade with a detailed trading plan.
  6. Believe in your ability to follow your trading plan. YOu must have faith in yourself to lower your stress levels.
  7. Know yourself as a trader and only take your kind of trades. Take trades that will leave no regrets because they were good trades regardless of out comes. (more…)

Felix Dennis on Mistaking Desire for Compulsion

  
Analysis, Education
#  #  #  #  #
  • Wishing for or desiring something is futile without an inner compulsion to achieve it. Such lack of compulsion, if not frankly acknowledged, can lead to great personal unhappiness. We have all met deeply unhappy souls muddling along in professions or careers for which they are patently unsuited.
  • Worse still, by continually wishing and never delivering, you risk denting your confidence, beginning a vicious downward spiral that appears to draw misfortune like a magnet. The assumption that you might be able to achieve some goal if you only wish hard enough is not just a f***-up. It’s a potential personal tragedy.
  • Consider very carefully whether you are truly driven by inner demons to be rich. If you are not, then my earnest and heartfelt advice to you is: do not on any account make the attempt. What are riches anyway, compared to health or the peace of mind that even a modicum of contentment brings in its wake? In and of itself,great wealth very rarely, if ever, breeds contentment.
  • But no condescension is intended whatever when I ask you to quietly turn over in your mind whether or not you are fit to be rich. Whether the sacrifices involved — not only your own, but those you will ask of your family, present or future — are worth the tyranny that such ambition, by its very nature, exacts.
  • ‘Better to have tried and failed than not to have tried at all,’ drones the old saw. But in this instance, the cliche is wrong, utterly wrong. Better to have chosen a different life, a quite different path, than have placed yourself and those you love in harm’s way when early reflection and thought could have advised you differently. I repeat: do not mistake desire for compulsion. Those that do nearly always fail, at great cost to themselves and those around them.

Visualizing How Plunging Oil Prices Affect Currencies.The world consumes 93 million barrels of oil, which is worth $4.2 billion

  
  Education
#  #  #  #  #  #  #  #  #  #

PETRO STATE
 

Every day, the world consumes 93 million barrels of oil, which is worth $4.2 billion.

Oil is one of the world’s most basic necessities. At least for now, all modern countries rely on oil and its derivatives as the backbone of their economies. However, the price of oil can have significant swings. These changes in price can have profound implications depending on whether an economy is a net importer or net exporter of crude.

Net exporters, countries that sell more oil abroad than they bring in, feel the sting when prices plunge. Less revenue gets generated, and this can impact everything from balancing the budget to the value of their currency in the world market. (more…)

Caffeine For the Trader’s Soul

  
  Education

Do you really, really, want to be a trader? There is no secret system, method, or guru that will make you a successful trader. Trading is work, trading is taking the hits, managing risk, and learning how to navigate the markets you trade. It is no different than any other profession, there is no quick money to be made in the practice of law, medicine, real estate, or business. It is the same process, you pay your tuition in time and money, you learn, you work, you grow, you  persevere and if you work harder than the majority you eventually win.

Many dream of the ‘freedom’ of trading. Trading does not come with a steady paycheck, traders eat what they kill. Traders are not employees they are entrepreneurs they get paid last. You pay your broker first, you pay the traders on the winning side of your trades second, then you get paid with the profits that remain. While you can make as much money as your winning trades allow their are no guarantees that you will make any money. Whether you trade for a living, manage money professionally, or trade for capital appreciation you have to be able to take your losses and not give up. (more…)

Go to top