Sometimes it's time to quit studying & start trading.
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rssDay Trader Vs Trend Trader
What makes the money?
I love waves
Warren Buffett's Performance by Decade http://
Don't be tempted
One of the easiest things to do is to over think. There are so many possible outcomes and our little minds love to run through all of those that it encounters or can dream up and try to assign likelihoods to each of them. I agree the human mind is an amazing thing but seriously, what’s the odds that you are going to 1) identify all the variables and 2) assign proper weighting to their probable outcomes and 3) realize the implications of the interactions between them all. It just isn’t going to happen so don’t be tempted.
Sure, you can think you have it figured out and if it goes your way you’ll pat yourself on the back and reinforce the thought that you have got the answer when all you have is a tiger by the tail. It will turn on you before you know it.
All you can do is map out what you believe will happen based on qualified trends and trend trading set-ups, put your stops in and let it rip. Of course you monitor and adjust as needed but you can only control risk and once you realize that the tiger’s tail seems a lot less frightful.
Characteristics Of A Losing Trader
1. Undiscplined
2. No money management
3. Unprepared
4. Overtrading habits
5. Easily tilted
6. Does not trade with probabilities
7. Trades emotionally without controlling: greed, hope, fear, and euphoria
8. Does not have a trading plan and strategy
Gold -Crude :Update
After Hitting all time High of $ 1227 .50 it crashed to 1075 level and rallied upto 1163.There after nonstop slide upto 1044 was there.
-Just see Daily chart and Look at Head & Shoulder Formation.
-Already broken Neckline and retraced upto Neckline.
Revival should be considered as Best opportunity to exit only.
-I will write about Head & Shoulder target in next 2-3 days.
Now ,What to expect from $1076 level ?
-Thirsty Traders ,Just watch $ 1084-1089 level very closely.Once crosses $1089 and closes above this level will take to $1104-1109 level.
-Nearest support $ 1063,break will create fresh selling.
To know MCX levels of GOLD ,Silver /Base Metals join us.
MCX Traders ,Can watch these levels for Crude Oil
3512-3532.
Once crosses then will zoom to kiss 3592-3612 level.
For timebeing worst is over for Crude.Will give more Details to our Subscribers.
Updated at 7:22/11th Feb/Baroda
Four is the 'magic number', not seven
Four, not seven, is the “magic number” when it comes to items of information the mind can cope with before confusion sets in.
A new analysis by a leading Australian psychiatrist challenges the long-held view of psychological lore of seven being the number, suggesting it might actually be four.
In 1956, American psychologist George Miller published a study in the influential journal Psychological Review arguing the mind could cope with a maximum of only seven chunks of information.
The study paper, “The Magical Number Seven, Plus or Minus Two. (more…)