- I Trade In The Zone’. I Trade IN The Moment, IN The Present, With Total Disregard For What Others Think & Feel About Me.
- ‘I Trade In The Zone’. I Ignore ALLEmotions & Defensive Perspectives. I Trade; I Do, I Act From An Entirely Detached & Impartial Perspective.
- ‘I Trade In The Zone’. Only In The Zone Do I See The Market As It Truly Is.
- ‘I Trade In The Zone’. I Block Out ALL Bad Habits & Self-Limiting Beliefs Attained From My Past, My Environment & Their Surrounding Noise.
- ‘I Trade In The Zone’. My Mind Is Pure, Clear, Focused & Yet Empty. The product Of‘Choice’ Means I ALWAYS Can; At Will, ‘Trade In The Zone’.
- ‘I Trade In The Zone’. I Trade Without Ego, Never Reacting To Pain, Sorrow Or Fear. I Just Trade The Market As It Truly Is. I Am A Super Trader, I Am The Master Of My Emotions, & So I Can Trade In The Zone. ‘I TRADE IN THE ZONE’.
- ‘I Trade In The Zone’. Trading In MY Zone Means I Distinguish Actual Reality From My Interpretations & Projections Of Reality. I Control The Zone!
- ‘I Trade In The Zone’. Only In The Zone, My Centred State, Can I ‘Super Trade.’ I Flow With Trends, I Spot Reversals & Breakouts; I Cut Losses Without Hesitancy & Let My Profits Run Perpetually. ‘I Trade In The Zone’.
- The Zone Is Where I Live; It’s My Nirvana, My Sanctuary, My Paradise, My Heaven.
- I LIVE & TRADE In The Zone. The Zone Is In Me; & The Key To Enter Is Within Me Forever!
Archives of “amp” tag
rssMarc Faber: Euro Oversold, If S&P Above 1150 Could See 20% Correction
Market: “I’m not so sure that we’ll make new highs but if we make a new high above 1,150, I don’t think it will be that far above the 1,150 level, maybe 1,200, and that thereafter we have a bigger kind of correction on the downside. I think if we make a new high then I wouldn’t rule out a correction of at least around 20% and don’t forget many shares in America and globally have already corrected 20%, so for them to make a new high isn’t going to be all that easy in the first place. So what we could see is a new high in the S&P and the Dow Jones that is not confirmed by the new high list. In other words you will make a new high with fewer stocks making a new high than in January.”
Currencies: Euro: “Now the Euro is very oversold and the news has been horrible. Everything you’ve read has been a disaster for the Eurozone and I think the Euro now can rebound to around 1.40 before it goes lower. I think there’s nothing good about the US Dollar, but I don’t think there is much good about the Euro either…”
US Dollar: “When investors realize that the fiscal deficits aren’t going to come down, that they’ll stay very high. When they also see that one state after another is essentially bust like California and Illinois. And when they see that monetization will become inevitable in the long run, I think at that point the Dollar will be weak. But don’t forget it may not necessarily have to be weak against the Euro. Both currencies are sick and so both could go down and then ultimately you just have one or two sound currencies, notably precious metals and I think the Asian currencies will then probably also appreciate against the Euro and the US Dollar but notably precious metals will then be strong”.
Asset Class Right Now: “Right now as of today I would probably go long the Euro and probably be long US Treasury Bonds but only as a trade for the next say 5-10 days and then we’ll have to see further. In general, I would say better be in stocks than in bonds because we’ll get more inflation in due course”.
Dear Traders ,Just see ..What I had forecasted/Written about S&P 500 on 19th ,28th Jan’10 and on 3rd Feb’10
Technically Yours
Abu Dhabi Lecture: Short Summary
He began by explaining why extreme deflation scenarios are extremely unlikely under the Bernanke Fed, comparing the Fed chairman’s commitment to an anti-deflation strategy to Hitler’s Mein Kampf, a book that also clearly stated a policy program in advance but was not widely believed until it was too late.
Likewise Dr Faber believes Mr. Bernanke is committed to printing money and will in any case have very little choice because of entitlements and the US constitution. Thus he could see the S&P 500 dropping back from current levels to say 950 in this autumn but by then Fed monetary policy would be strongly inflationary and bring the market back up.
Dr Faber pointed out that with the US so deep in debt the Fed thinks it cannot allow asset prices to drop below a certain point because that would devastate the balance sheets of the banks with debt deflation. But he thinks in the long run this is just rolling up another crisis for the future that will destroy the US dollar and cause an even bigger financial crisis.
Declaring himself the ‘most pessimistic of forecasters, nobody is more pessimistic than me’ Dr Faber outlined a scenario in which the dollar has to be replaced by another unit after a future inflation, and holders of cash and bonds lose virtually everything in the process.
11 Things I’ve Learned About Markets
1. “There is no such thing as easy money”
2. Events that you think are affected by cardinal announcements like the employment numbers at 8:30 am on Friday are often known to many participants before the announcement
3. It’s bad to try to make money the same way several days in a row
4. Markets that have little liquidity are almost impossible to profit from.
5. When the stock market is way down, policy makers take notice and do what they can to remedy the situation.
6. The market puts infinitely more emphasis on ephemeral announcements that it should.
7. It is good to go against the trend followers after they have become committed.
8. The one constant, is that the less you pay in commissions, and bid asked spread, the more money you’ll end up with at end of day. Too often, a trader makes a fortune on the prices showing when he makes a trade, and ends up losing everything in the rake and grind above.
9. It is good to take out the canes and hobble down to wall street at the close of days when there is a panic.
10. A meme about the relation between today’s events and those of x years ago is totally random but it is best not to stand in the way of it until it is realized by the majorit of susceptibles
11. All higher forms of math and statistics are useless in uncovering regularities.
Jack Schwager on Market Sense and Nonsense
This is Jack as analyst, not as trader interviewer. I think the insights herein will benefit investors especially over traders, although both are served well. Jack totally destroys the EMH in this book. He also debunks a great deal of conventional wisdom for the investor, which I think will be shocking at first. Why? Conventional wisdom “feels good” and to go against the grain so to speak as an investor takes a great deal of emotional intelligence — and a strong inner voice — which most investors don’t have. Good trading and investing oftentimes does not “feel” good at all. It’s much easier for a newbie or amateur to go with the crowd and succumb to one’s emotions. What feels safe is normally not a proper risk management decision for the untrained.
At the end of each chapter, Jack delineates several “Misconceptions” that I believe are worth the price of the book. One in particular deals with when it’s NOT a good idea to just blindly buy the S&P 500 after it’s gone up a certain amount.
Market Sense and Nonsense is an objective take on popular investment themes that is backed with a great deal of data to support its claims. I think the conclusions in this book will surprise most of its readers and that’s a good thing. At least they will be armed with strong arguments to bring up with their advisors.
Hallmark of a Position Day Trader
4 Trading Mistakes
1. Do the Math
Sit down and go over your expected Risk to Reward Ratio for each trade. If you have already been trading for a period of time sit down and analyse how much you are making each trade and your winning %. These two numbers will help you formulate a solid profit goal. No trading strategy works 100% of the time so you need to work out how much you lose per losing trade vs. how much you make per winning trade and then figure in your percentages. From there you should have a realistic idea of how much you can expect to make in through your trading.
2. Don’t Expect Instant Returns
Trading is a business and like any other business it requires not only capital investment but time investment as well. It takes time to find your rhythm and develop your trading skills. Try not to be to hard on yourself during the learning phase and remember to focus on the positive aspects of your trading. The vast majority of traders lose money and this number is even higher with traders who are just starting out. Factor this in when you are setting your goals.
3. Skill vs. Profits
Try to come up with goals that are not directly tied to your P&L statements. For example, set a goal of following your rules for every trade for an entire trading day. Once that is completed shoot for an entire week, then a month, and pretty soon you will be doing following your rules without even realising it. Train yourself to develop your trading skills and reward yourself when you reach those goals.
4. It Takes Money
It takes money to make money. Small accounts are fantastic for testing out whether or not trading is for you but when you get serious and want to go full time make sure you have enough capital to support your business. Solid traders should expect to make 8% in the market over the course of a month. That equates to 96% over a given trading year. Make sure this figure allows you to have the lifestyle that you are expecting.
WINNERS V. LOSERS
Why do some win in the market and some lose? Some thoughts on winning and losing:
Winning Trader’s Traits
- Calm
- Disciplined
- Confident
- Organized
- Excellent recordkeeping
- Business like approach
- Professional demeanor
Losing Trader’s Traits
- Emotional
- Undisciplined
- Anxious
- Disorganized
- No recordkeeping
- Wants action & excitement
- Amateur demeanor
10 Secrets To Success
These 10 secrets could be applied to your success as a trader, but more importantly they could be applied to ensure success in your personal life. I thought I would share these 10 tips with you as they made me stop and think about my own life.
1) How You Think Is Everything – Always be positive. Think success, not failure. Beware of a negative environment.
2) Decide Upon Your True Dreams & Goals – Write down your specific goals and develop a plan to reach them.
3) Take Action – Goals are nothing without action. Don’t be afraid to get started. Just do it.
4) Never Stop Learning – Go back to school or read books. Get training and acquire skills.
5) Be Persistent & Work Hard – Success is a marathon, not a sprint. Never give up. (more…)
Typical Traits Of Top Traders
Temperament – In general, people with more analytical and even tempered personalities make better traders.
There is a counterbalancing trait which is the willingness to take risks. Some traders with volatile temperaments are successful because they can take risks easily and can keep trading after getting knocked down. They also tend to blow up more often.
Character – Humility is a very important ingredient in trading success. The truth does not care what you think of yourself. The markets don’t care what you want to believe reality is. Trader’s that are humble are better able to examine their methods and trading objectively and make changes where appropriate.
I’ve known a lot of successful traders that most people might consider arrogant but when it comes down to their own success and the reasons for that success they were able to see the faults in themselves and their trading. The trader’s that were out of touch with reality tended to blow up and have short-lived success.
Intelligence – General intelligence is correlated with success but not as highly as you might think. The ability to discern patterns and relationships with limited information is very useful.
I’d say that you need to be relatively smart to be successful but not extremely smart. Smart enough to understand the principles but beyond that it doesn’t necessarily help you. I’ve seen many very smart people tie themselves up in knots by second-guessing themselves.
Social Skills – Most of the really successful traders are not very socially skilled. Many tend to be reclusive and introverted. There are some exceptions. (more…)