A disciple asked Hejasi:
– I want to know what is the most funny thing about human beings.
Hejasi said:
– That they always think crooked: they’re in a hurry to grow, then lament their lost childhood, and soon loose the money they need to keep their health.
“They are so anxious about the future, that they neglect the present, and thus live in neither the present nor the future.
“They live as if they were never going to die, and die as if they had never lived.”
Tourists can try out the first “luxury space hotel” set to open in 2022, The New York Post reported.
Tourists seeking a zero-gravity vacation spot can try out the “luxury space hotel,” according to The New York Post Friday.
Houston-based tech company Orion Span designed this possible vacation hot spot, Aurora Station, which is expected to launch into space 2021 and will house guests the following year, National Geographic added.
Vacation-goers will need to shell out an initial $80,000 deposit for the 12-day trip, which starts at $9.5 million. The deposit for this pricey hotel is fully refundable.
The costly hotel will grant tourists unique experiences.
Travelers will have the opportunity to see 16 sunrises and sunsets every 24 hours, as well as the Aurora Borealis. These tourists will also get to assist in research experiments and even grow food in space, according to Orion Span’s website.
The hotel is expected to host six guests at a time with two-person rooms.
“Aurora Station will be the World’s First Luxury Space Hotel in orbit 200 miles above the Earth’s surface. Our luxurious accommodations will include private suites for two, the most number of windows ever created for spaceflight, weightlessness, and the world’s only authentic astronaut experience. We launch in 2021,” the tech company advertises on their official website.
Orion Span is also working on developing living facilities in outer space.
Despair = Losing Money – Trading Better
Do not despair look at your losses as part of doing business and as paying tuition fees to the markets.
Disappointment = Expectations – Reality
Enter trading with realistic expectations. You can realistically expect 20%-35% annual returns on capital with great trading. More than that is possible but unlikely.
Regret = Disappointment in a loss+ Caused by lack of Discipline
If you followed your trading plan and lose money because the market did not move in your direction so be it, but if you went off your plan and traded based on your feelings and opinions then you should feel regret and stop being undisciplined.
Enjoying your Trading = Winning Trades – Fear of Ruin
Trading is much more enjoyable when you are risking 1% of your capital in the hopes of making 3% on your capital with a zero chance of ruin. It is not enjoyable when you are putting a huge percentage of your capital on the line in each trade and are only a few bad trades away from your account going to zero.
Wisdom = Square Root of Experience through years of successful trading
To get good at trading you have to trade real money. Wisdom comes from putting real money on the line for years and proving to yourself that you can come out a winner in the long term.
Faith in your system = Belief through back testing + Experience of winning with it for years
While you have to hold the opinion of whether each trade is a winner or loser it is different for your trading method. A lot of emotional trading can be overcome when you do not have doubts about your method. When you hold an almost religious fervor over believing in your method, system, risk management, and your own discipline you will overcome many of the emotional problems that arise with other traders in the heat of action.
1) Diversify: If you have a pattern you trade successfully, you don’t have to grow your size. Instead, look to diversify to a different pattern (different market, different time frame) not correlated with the first. You’ll smooth out your returns, as one pattern makes money while the other experiences drawdown. You’ll also achieve the portfolio manager’s goal of superior return for less risk exposure.
2) Review Entries: Review your trades for the week and see how much heat you took on your winners. This will give you an idea of how good your entries are.
3) Review Exits: Review your trades for the week and see if the market went in your favor or against you after you exited. This will give you an idea of how good your exits are.
4) Work Orders: Get into the habit of working orders to buy at bid, sell at offer or to place orders between the bid and offer to avoid paying a price that is out of line with “fair value”. For the frequent trader, the single tick saved by good execution adds up over time.
The successful traders I’ve worked with never stop working on themselves. This is equally true of successful athletes, musicians, and chess champions. Small, steady improvements can create massively greater performance over time.
Concentrate on what is important. The most important thing when I am trading is profit and education, to some extent. You can get to profit many ways but your actions need to all bend towards that one objective. Me talking about my position takes me away from analyzing the position. Also, for me, it makes me less flexible. Now I am thinking about what the market is doing and how I look to other people. Also, if you are going to talk your book the most effective way is to get out into it, albeit the most unethical. Nothing is ever going to prevent you from losing but there are several things that can prevent you from winning over a long period of time.
