Archives of “information overload” tag

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How To Improve

  
  Education
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Turn off the noise – Information may be the world’s most precious commodity, but 99% of the information at your disposal is not. In today’s age of real-time information, opinions, analysis, etc. it is my strong belief that information overload and noise is hindering performance far more than it is helping. The first step is to stop watching all TV and to place severe restrictions on all media. In addition, to perform better this year you must stop wasting time on seeking out advice and opinions that only serve to confirm what you really want to hear in order to justify your positions. If anything, what time you spend in social media should be devoted to looking for ideas that challenge your positions and/or offer unique insight you can really learn something from.

So turn off that Blue Channels crap. And stop reading those silly Websites/Blogs.

Why traders wins & loses

  
  Education
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WIN-LOSE

Why traders wins

1. Develop specific procedures.
2. Have a defined operational methodology.
3. Understand how your trading system works.
4. Be sufficiently capitalized.
5. Don’t take quick profits.
6. Begin using a system after it draws down.
7. Be willing to accept consecutive losses.
8. Don’t think too much.
9. Don’t set specific price target.
10. Don’t believe the tight stop loss myth.
11. Play your own game-avoid the news.

Why traders loses

1. Lack of defined methodology.
2. Poor self control and discipline.
3. Information overload.
4. Riding losses.
5. Taking profit quickly.
6. Poor understanding of system basics.
7. Lack of consistency.
8. Too emotional and suggestible.
9. Too close the makes.
10. Can’t accept more than a few consecutive losses.

There is No Such Thing as Information Overload

  
  Education
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The information dietJust as too much junk food can lead to obesity, too much information can lead to stupidity.

Clay Johnson’s book, The Information Diet, shows you how to thrive in this information glut, but you must accept that there is no such thing as information overload.

Once we begin to accept that information technology is neutral and cannot possibly rewire our brains without our consent or cooperation, something else becomes really clear: there’s no such thing as information overload.

It’s the best “first world problem” there is. “Oh, my inbox is so full,” or “I just can’t keep up with all the tweets and status updates and emails” are common utterances of the digital elite. Though we constantly complain of it—of all the news, and emails, and status updates, and tweets, and the television shows that we feel compelled to watch—the truth is that information is not requiring you to consume it. It can’t: information is no more autonomous than fried chicken, and it has no ability to force you to do anything as long as you are aware of how it affects you. There has always been more human knowledge and experience than any one human could absorb. It’s not the total amount of information, but your information habit that is pushing you to whatever extreme you find uncomfortable. (more…)

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