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Mera Bharat Mahan -75% rural households earned below Rs 5000
The highest earning member in about three-fourths of all rural households in the country made less than Rs 5,000 per month, according to the Socio Economic and Caste Census (SECC) 2011 released today.
As per the Census data, there were 13.34 crore or 74.49 per cent households where “monthly income of highest earning household member” was below Rs 5,000 a month.
There were only 1.48 crore or 8.29 per cent of rural households where the monthly income of such member was Rs 10,000 or more.
Further, the number of rural households with a salaried job was only 9.68 per cent.
Of these, 5.02 per cent were in government jobs, 1.12 per cent were employed in public sector and the remaining 3.58 per cent in private sector, the data said.
The Census was carried out in all the 640 districts of the country using 6.4 lakh electronic hand-held devices, the government said while releasing the socio-economic data for rural India. (more…)
Hallmark of a Position Day Trader
10 Trading Pitfalls
- All market behavior is multifaceted, uncertain, and ever changing.
- “I am employing a robust, positive expectancy trading model and am appropriately managing risk on each and every trade. Losses are an inevitable and unavoidable aspect of executing all models. Consequently, I will confidently continue trading.”
- Denial of loss and uncertainty is extremely destructive because it prevents us from thinking in terms of probabilities, planning for the possibility of loss, and consequently from the necessity of consistently managing risk.
- If we view markets as adversarial we cut ourselves off from emotionally tempered, objective solutions to speculation (opportunities to profit)
- Blind faith is no substitute for research, methodical planning, stringent risk management, playing the probabilities, and unwavering discipline
- Depression is a suboptimal emotional state because it allows past losses or missed opportunities to limit our ability to perceive information about the markets in the present
- We are not our trades; they are merely an activity in which we are engaged
- Greed is linked to fear of regret, which is the greatest force impeding a trader’s performance outside of fear of loss
- Market offers limitless opportunities for abundance
- Trading biases prevent us from objectively perceiving reality, thereby limiting our ability to capitalize on various opportunities in the markets.
"Great investors tend to make very concentrated bets".
Cancer May Soon Be Detected By a Simple Blood Test
A new study is all set to change the course of medical history in the field of cancer detection forever, as it has identified roughly 800 biomarkers present in the blood of cancer patients which can be found out through a single blood test, making early detection of cancer a possible reality in the future.
This study is the very first to comprehensively review and identify cancer-specific blood markers for future clinical development. Almost 19,000 scientific papers were analyzed and more than 800 biomarkers were identified.
This research aimed at using a single blood sample for developing a screening test to identify multiple cancer types. Every type of cancer is known to produce markers in the blood. Therefore, developing a general screening test for many different forms of the disease may be feasible.
Study author Ian Cree, a Cancer Research UK funded scientist at the University of Warwick and University Hospital in Coventry said in a press release, “This is a new approach to early detection and the first time such a systematic review has been done. A single blood-based screening test would be a game changer for early detection of cancer which could help make it a curable disease for many more patients. We believe that we’ve identified all the relevant biomarkers; the next step is working out which ones work the best for spotting cancers.”
The research is poised to be presented at the National Cancer Research Institute (NCRI) Cancer Conference.
The Art and Science of Technical Analysis
Overcoming 8 of the Pains in Trading
Here are 8 painful aspects of trading and what to do about them.
- The pain of losing money. (Trade smaller so it is much less painful, and just one outcome of the next 100.)
- The pain of being wrong about a trade you were sure about. (You lost simply because the market wasn’t conducive to your particular trade, trend followers lose money in choppy markets, swing traders lose money in trending markets, the market picks the particular winning trade not you.)
- Consecutive trading losses hurt. They make you doubt yourself, your method, and your system. (You need to remember your winning trades, your winning years, or your proof in back-testing, or paper trading of your method’s profitably.)
- The embarrassment of public losses. You told everyone who would listen about a great trade, and you were wrong. (Never be overconfident in any trade, but always be sure of your stop loss. Always be uncertain in your trade winning or losing, just follow your plan. )
- The pain of of admitting you were wrong. (Cut your loss and move on to the next trade, trade reality not your ego.)
- You are following a guru and come to realize he truly is a salesman and not a trader. (You stop following gurus and look to learn how to trade all by yourself.)
- You take a position that meets all your entry guidelines and then it hits your stop loss. (Follow your plan, exit the trade, and say “next”)
You start trading a system that did amazing in back-testing and promptly lose 10% of your account in a draw down. (You have to double check to see if you made any mistakes in your research, if the method is valid then stick with it so it can win in the long term, you may need to make slight adjustments in position sizing or stops to account for volatility that you may have missed.)
Coach Yourself as a Trader
What are the three things (i.e. courses of action, strategies, resources) that you’ve found most helpful in mentoring/coaching yourself as a trader?
And here is how I answered:
- 1. Understand me. The most powerful tool I have found in life and in this specific case, the market, is what I, as a person, am capable of doing as a trader. I finally understand that personal characteristics that are engrained in my DNA will only allow me to trade successfully under specific circumstances. For example, I am much more consistent and profitable as a medium term and longer term trend trader than as a day trader (even more so on the long side). I don’t need to be everything, all the time as long as I continue to focus on the areas that bring me the greatest success. Understanding “me” has been my holy grail of understanding how to trade the market with some type of consistency and profitability.
- 2. Learning to cut losses. It’s almost cliché but not many people can do it (in any aspect of life). I have learned to cut losses in my trading, my career, my hobby of competitive poker and everything else in life where the rule applies. Without this rule, there wouldn’t be a third rule. (more…)