Archives of “comfort zone” tag

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Trading Truths

  
  Education
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    1. It’s all about risk management … never risk what you can’t comfortably lose.
    2. Never fall in love with a stock.
    3. To be succesfull in trading; study, understand and practice. The rest is easier.
    4. Always start by assuming your analysis is WRONG and that people much smarter and with more recent information are already positioned opposite you.
    5. Never take on a position larger than your comfort zone. (Don’t overtrade)
    6. Patience. never chase a stock.
    7. Before entering the trade very think carefully what will make you wrong, write it down clearly and put it infront of you where you trade, and when your wrong get out happy you’ve followed your trading discipline.
    8. Buy strength, sell weakness. Most traders are essentially counter-trend; most traders lose.
    9. No one ever went broke taking a profit!
    10. Once you find a good one, hang on unless of course they do you wrong.
    11. Never add to a losing position! (Unless scaling in was part of the plan).
    12. Whenever you think you’ve found the key to the lock, they’ll change the lock.
    13. Do not overtrade.
    14. Trade price not perception.
    15. Know the difference between stocks that you want to stay married to and those that are just a fling.
    16. The only sure way to make a small fortune is to start with a large one.

      17. and to paraphrase Will Rogers: Buy only stocks that will go up. Don’t buy the ones that don’t go up. “THIS is GAMBLING.”

    17. Cut your losses quickly and you may have a chance.
    18. An indicator works until it doesn’t.
    19. “MR. MARKET” IS ACTUALLY “MRS. MARKET” ONLY WOMEN CAN THINK, AND ACT THE WAY THE MARKET DOES. THAT IS WHY -ON AVERAGE -WOMEN ARE BETTER TRADERS THAN MEN, THEY UNDERSTAND WHAT THEY DEALING WITH! (more…)

    Trading Truths

      
      Education
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        1. It’s all about risk management … never risk what you can’t comfortably lose.
        2. Never fall in love with a stock.
        3. To be succesfull in trading; study, understand and practice. The rest is easier.
        4. Always start by assuming your analysis is WRONG and that people much smarter and with more recent information are already positioned opposite you.
        5. Never take on a position larger than your comfort zone. (Don’t overtrade)
        6. Patience. never chase a stock.
        7. Before entering the trade very think carefully what will make you wrong, write it down clearly and put it infront of you where you trade, and when your wrong get out happy you’ve followed your trading discipline.
        8. Buy strength, sell weakness. Most traders are essentially counter-trend; most traders lose.
        9. No one ever went broke taking a profit!
        10. Once you find a good one, hang on unless of course they do you wrong.
        11. Never add to a losing position! (Unless scaling in was part of the plan).
        12. Whenever you think you’ve found the key to the lock, they’ll change the lock.
        13. Do not overtrade.
        14. Trade price not perception.
        15. Know the difference between stocks that you want to stay married to and those that are just a fling.
        16. The only sure way to make a small fortune is to start with a large one.

          17. and to paraphrase Will Rogers: Buy only stocks that will go up. Don’t buy the ones that don’t go up. “THIS is GAMBLING.”

        17. Cut your losses quickly and you may have a chance. (more…)

        Your Comfort Zone

          
          Education
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        COMFORTZONEHigh achievers (in life and in the market) frequently step outside their comfort zone. That’s the way they learn and make progress. At the same time, they also expect to fail (more often than not), but do not see failure or mistakes they make as problems, but as educational experiences.

        The natural instinct of all of us is to seek safety and shelter, unfortunately at the exact same time when we should be aggressive and risk tolerant. Those who do well in the market understand this natural human tendency and they consistently work against it when others are doing the exact opposite.

        The key for today is to first understand what your comfort zone is and then take a step outside of it. Remember, the market doesn’t reward comfort and decisions that “feel” good to make. That’s the law of nature and it is true of this market like any other.

        Embracing Risk

          
          Education
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        While we tend to focus solely on building our skill sets or expanding our knowledge, the greatest advancement and learning most often comes from action, experience, and taking risk. And our regrets in life reflect this. According to Gilbert, studies show that “in the long run, people of every age and in every walk of life seem to regret not having done things much more than they regret things they did.”

        To improve at anything, we must at some point push ourselves outside our comfort zone.

        4 Trading Quotes for Today's Trading Session

          
          Education
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        “You must practice being a successful trader first. From that state of mind you will get information about what to do, and that will produce what you want to have.”

        “Excellence is about stepping outside the comfort zone, training with a spirit of endeavor, and accepting the inevitability of trials and tribulations. Progress is built, in effect, upon the foundations of necessary failure.” 

         “Amateurs keep thinking what trades to get into, while professionals spend just as much time figuring out their exits.”

        “Confidence doesn’t come from being right all the time: it comes from surviving the many occasions of being wrong.” Brent Steenbarger, The Daily Trading Coach “When you attain some degree of control over yourself, you can then see how other traders are not in control of what happens to them.”

        The C=L U=M Principle

          
          Education
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        Most people like to stay within a range of relative comfort; a range that is self imposed. This is known as your comfort zone. For most of us, the grand majority of our experiences and daily life’s routines are within the limits of what we already know; the boundaries that we set, the fence that we build around us to feel safe.
        We tend to ignore the outer limits of this circle of comfort almost all of the time. The unknown is a scary proposition for most. The CLUM principle simply states that COMFORTABLE = LESS OPPORTUNITY ANDUNCOMFORTABLE = MORE OPPORTUNITY; C=L U=M
        The simple fact is: opportunity is in the areas that few are willing to venture. In the circle of humanity, you’re part of the circle. And, in order for you to take advantage of inefficiencies in the so-called system, you must go outside the system. You must, at some point, be a lone wolf. This requires you to be a little different than the “norm.” (more…)

        Your Comfort Zone

          
          Education
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        High achievers (in life and in the market) frequently step outside their comfort zone. That’s the way they learn and make progress. At the same time, they also expect to fail (more often than not), but do not see failure or mistakes they make as problems, but as educational experiences.

        The natural instinct of all of us is to seek safety and shelter, unfortunately at the exact same time when we should be aggressive and risk tolerant. Those who do well in the market understand this natural human tendency and they consistently work against it when others are doing the exact opposite.

        The key for today is to first understand what your comfort zone is and then take a step outside of it. Remember, the market doesn’t reward comfort and decisions that “feel” good to make. That’s the law of nature and it is true of this market like any other.

        Trading Wisdom

          
          Education
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        Everything in this world involves risk but by far the greatest risk is staying in your comfort zone because this involves the risks of lost opportunities. The secret to risk lies in knowing how to minimise its impacts on you. If you want to be a successful trader you must become passionate about the learning process. You must become totally focused on trading well as opposed to making money. You must learn from someone who can show you how to trade successfully rather than rely on machines and promises of “golden eggs”. You must become absolutely disciplined in the activity of trading.

        7 Unfortunate Habits of Unhappy People

          
          Education
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        1.  Playing it too safe.

        Don’t play it so safe that you put yourself in situations where none of your potential options satisfy your calling.  Dream your dream, but also realize that you are more than just the dreamer, you are the point of origin for your dream’s reality.

        Your dream is your creative vision for your future life.  You must break out of your current comfort zone and become comfortable with the unfamiliar.  Start smashing through those emotional barriers.  Move forward.  Life doesn’t magically give you what you want in your mind; it gives you what you insist upon with your actions.  Read The Power of Habit.

        2.  Continuous self doubt.

        You will inevitably become who you believe yourself to be.

        If you spend enough time saying, “I’m not smart enough, thin enough and rich enough,” it’s likely that you will someday be right.  On the contrary, if you havethe belief that you are smart enough, thin enough and rich enough now to take the next positive step forward, over time you will likely acquire the capacity to be these very things at your desired level of expectation. (more…)

        Ritualize practice

          
          Education
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        “The best way to insure you’ll take on difficult tasks is to ritualize them — build specific, inviolable times at which you do them, so that over time you do them without having to squander energy thinking about them.”  The best time to prepare for trading is before the market opens or late in the evening after you have had a break from the close.  Execution is based on proper preparation.  If you are properly prepared for the battle then the execution will be a synch.  Remember:  trading is war PREPARE your weapons.

        If you wish to excel at trading it is going to take a lot of hard work but we all know that anything really worth having comes with a sacrifice of one thing for another.  As Mr Swartz sums it up:  “If you want to be really good at something, it’s going to involve relentlessly pushing past your comfort zone, along with frustration, struggle, setbacks and failures. That’s true as long as you want to continue to improve, or even maintain a high level of excellence. The reward is that being really good at something you’ve earned through your own hard work can be immensely satisfying.”

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