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Learning to do nothing

  
  Education
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This is a lesson I keep needing to come back to. I can see that trading for amusement has been my own downfall a thousand times in the last few years, and to just sit at the sidelines can be painful.

I just read a brilliant quote :

“Once able to trade, it is very likely that a person will make the emotional decision to do just that when bored. This timing is unlikely to correspond with a low risk trading opportunity.”

The influence Of Hope & Fear

  
  Education
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In trading psychology, two emotions that are constantly to the fore are hope and fear. One of the traders who recognised this was the legendary trader W D Gann. 

“Hope and fear: I have written about this often in my books and I feel I cannot repeat it too often. The average person buys commodities because they hope they will go up, or because someone advises them, they will go up. This is the most dangerous thing to do, never trade on hope. Hope wrecks more people’s lives than anything else. Face the facts, and when you trade, trade on the facts, eliminating hope”
“Fear causes many losses. People sell out because they fear commodities are going lower, but they often wait until the decline has run its course and sell near the bottom – never make a trade on fear”

39 One Liner Lesson for Traders

  
  Education
  1. Be ethical.
  2. Learn what you don’t know.
  3. Greed will bury even the lucky eventually. (Ahem penny stock chasers)
  4. Marry your best friend. (I did and couldn’t be happier!)
  5. Money in the bank is the Report Card – “Warren Buffett”
  6. You can’t outsource your passion.
  7. You can’t do everything yourself, delegate anything someone else can do. (I’m still learning this one haha)
  8. Bad things do happen to good people.
  9. Some people just can’t be helped no matter what you do, so don’t try.
  10. What you pay for, is what you get! (We all learn this the hard way unfortunately)
  11. The truth isn’t slander.
  12. The best competition is your own competition.
  13. Spend outside your means, you will have to work harder, make more money and become more successful.
  14. Mac is 150% better than Windows. (Loving my new MacBook Pro I got last year!)
  15. Complaining about people is time wasted.
  16. Have a reason why you do something.
  17. Write to do lists, lot’s of them! (Mine never seem to be complete though?)
  18. If you can’t do, don’t teach.
  19. Surround yourself with great people.
  20. If you want something from someone, do something for them first.
  21. Network at events. (more…)

Jingle Bells – The Fiscal Cliff Remix

  
Education, Humour
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By DJ Matt King from Citigroup
Jingle bells (fiscal cliff remix)
Dancing on the edge
Of the looming fiscal cliff
Impossible to hedge
The politicians’ tiff.
It’s spending cuts we need
To cut the deficit
But taxes too must rise
That much is definite!
Fiscal cliff, fiscal cliff
Drama all the way!
Surely sense will soon prevail
And help them meet halfway? Hey!
Fiscal cliff, fiscal cliff
Washington at play
With Congress so polarized
Who knows which way they’ll sway? (more…)

Emirates Palace unveils gold dispensing ATM

  
Education, Life, LINKS
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Emirates Palace has raised the luxury stakes in the Gulf even higher by unveiling an ATM that dispenses gold.

The machine, which monitors the price of gold minute-by minute, offers small bars that weight up to 10 grammes engraved with the Emirates Palace logo, as well as a variety of coins.

Thomas Giessler, the inventor of the Gold to Go machine, chose Abu Dhabi because of its luxury atmosphere, and hopes it will tie in nicely with the region’s traditional ties in gold commerce.

“A gold machine should be made of gold,” said Thomas Geissler, the chief executive of Ex Oriente Lux AG. “This is now at a hotel made out of gold. It is the perfect place.”

Six coins of differing weights come engraved with a maple leaf, kangaroo and Krugerrand, symbols of the gold-producing nations South Africa, Canada and Australia.

Emirates Palace Hotel general manager Hans Olbertz said: “We seized upon this idea and, as one of the most exclusive hotels in the world, we wanted the Emirates Palace to play a pioneering role and be the first hotel in the world to offer its guests this golden service.”

The idea is aimed at both a souvenir and an investment. Gold is still one of the most sustainable forms of investment and is currently as a record high price due to volatility in the current global economic market. (more…)

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