Archives of “Ferenc Gyurcsány’s speech in Balatonőszöd in May” tag

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ABCD of Trading-Simple Formula

  
  Education
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If A + B + C, then D.

The answer is patience.  In this equation, or one much like it, we just may find the answer to impatience. For instance, let’s assume D is a high probability trade opportunity and A, B, and C are the factors that must be present to produce D. If there is no A, B, and C then there is no D.  Notice I did not say A, B, OR C, nor did I say not A BUT B and C: I said A, B, AND C.  There’s that word again.  We cannot be tempted to replace the word AND with any other word, especially OR or BUT.  If we do then we open ourselves up to any number of trading errors based solely on our inability to practice patience.

There is an A + B BUT no C.

Here we fall victim to not wanting to miss something, or what we refer to as the fear of missing out.  We rationalize, allow our ego to convince us that we should not miss this opportunity, and we enter the trade knowing full well that our trading edge is not as sharp as it should be.  We say to ourselves: “A + B looks really good so why wait around for C?  What if C never comes?  Then I risk missing a great opportunity. I would really hate to miss the move while waiting on C.”  Wrong!  We impatiently pull the trigger, breaking our rules.

There is an A or B or C BUT no A + B +C. (more…)

Passion & Hope -Two Key Drivers

  
  Education
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The two key drivers of success in any endeavor is passion and hope.

Passion creates the energy to do what we need to do to get to where we want to go. Many times money is just the side effect of the work we do driven by our own passion and desire for success with little thought given to the monetary reward that could happen during the battle for success. When we are passionate about something we just love doing it, we just love the game itself and everything about being in that game and playing it. True professionals do not use their bank account as a daily motivator to work, they are doing what they were born to do, they are just being who they are and what they are.

Hope is what gets us up in the morning and keeps us working toward our goals. Hope gives us the ability to do hard work today for a potential reward in the future. Hope sees an account at $0 and sees that it could be over a million dollars if the right plan is followed. Hope gives us the energy to work hard in our present circumstances believing that we are receiving an education that will show us the path to where we want to be. The greatest cause of depression is being realistic about the present and future and the loss of hope in tomorrow.
being better than today.  Know what you want, and understand how to get there. If you are willing to do what you have to do and be willing to pay the price that your goal costs you can have what you want.

“A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do.” 
― Bob Dylan

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