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IMF’s Georgieva: Rising global debt levels are a serious concern

  
  Analysis
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Comments by IMF chief, Kristalina Georgieva

Kristalina Georgieva
  • But warns against premature withdrawal of fiscal support
  • Monetary policy should remain accommodative
  • Global economy is “not out of the woods yet”
  • Second major virus wave could case further disruptions
  • Job losses, bankruptcies, industry restructuring poses significant challenges

Some token remarks as a whole, but the headline comment is going to be an issue that is likely reverberate across politics and markets in the decade to come.

Regardless, these high debt levels aren’t going anywhere and when the next crisis comes along, we’ll be back here talking about the same thing with zero lessons learned.

5 Qualities of the Top Super Traders

  
  Education
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1. A belief that you create your results in life.
Most people don’t understand this concept. They repeat the same mistakes over and over again because they blame their mistakes on external factors. For example, if you blame your bankruptcy in one of my marble games on the person who pulled the 5R marble against you, you are not taking responsibility for your position sizing error of risking 20% (or more!) of your equity on a single trade. Consequently, you’ll repeat this mistake over and over again and there will always be someone to blame for pulling the 5R marble against you.
Conversely, top traders are constantly determining how they produced their results and working to correct their mistakes. They create their reality.
2. The interest and desire to really understand yourself.
You cannot understand how you create your own results if you don’t know yourself intimately. I believe that most people live their lives like the automatons in the movie, The Matrix. They just do their thing, not realizing how much they have been programmed by their culture, and their family and friends rather than understanding that they always have a choice in everything.
The great traders I know continually study and challenge themselves, their thinking, their actions, and their reactions.
3. Discipline to continually work to improve yourself.
Top traders often have a passion to work on themselves. A good trader will probably complete the Peak Performance Course once or twice and internalize many aspects of it. A top trader, or a potential top trader, will go through the course many times and develop a discipline that involves spending 1-4 hours each day working on improving himself or herself. (more…)

Trading Experiences

  
  Education
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A major key to success as a Trader and Investor lies in your mind.  Actually, it lies in your ability to use your mind optimally and creatively.

Please remember – there is NOTHING WRONG WITH YOU.  You don’t need to change YOU.  What you most likely need to change is the “software” that you are running in your mind.  When we are born we do not get a user’s manual on how best to use our mental abilities.  So we learn by soaking up what we see and hear around us as we grow up.  And often times what we learn is not conducive to being a successful trader and investor.

One of the key mental approaches is to “Welcome Every Experience.”  Welcome every experience that comes to you.  It may be an expectation, or it may be a surprise.  It may be ‘good’, or it may be ‘bad’ based on your first assessment of it.  It may involve someone getting hurt, someone getting promoted, a tragedy, a triumph, a windfall, a bankruptcy, an ‘aha’ moment….anything.  The most useful way to approach experiences we receive (which are mostly experiences we can’t control as they are outside of us) is to welcome them and learn from them.  Realize that they are exactly what we need in that moment, at that point in our lives.  And since we don’t have a time machine, once something has happened, there’s no changing it. (more…)

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