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Bernard Baruch's Ten Rules.

  
  Education
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   1. Don’t speculate unless you can make it a full-time job. 

2. Beware of barbers, beauticians, waiters, of anyone, bringing gifts of ‘insider’ information or ‘tips.’ 

3. Before you buy a security, find out everything you can about the company, its management and competitors, its earnings and possibilities for growth. 

4. Don’t try to buy at the bottom and sell at the top. This can’t be done – except by liars. 

5. Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.

 6. Don’t buy too many different securities. Better have only a few investments which can be watched.

7. Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects.

 

8. Study your tax position to know when you can sell to greatest advantage. 

9. Always keep a good part of your capital in a cash reserve. 

10. Don’t try to be a jack of all investments. Stick to the field you know best. 

10 Thing u should learn from Market

  
  Education
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1. “There is no such thing as easy money”

This is so true, in the markets, in everything. Those who happen upon money where it DID come to them easily, it seems, as a witness, have had it very fleetingly. In my own case, although I am supremely confident in the profitabliity of what I am doing, in practically any market, in virtually any “regime,” doesn’t mean it’s easy. It works like clockwork and is incredibly painful and distressing. It would be so much easier to simply sell buckets of blood.”

2. It’s bad to try to make money the same way several days in a row
3. Markets that have little liquidity are almost impossible to profit from.
4. When the stock market is way down, policy makers take notice and do what they can to remedy the situation.
5. The market puts infinitely more emphasis on ephemeral announcements that it should.
6. It is good to go against the trend followers after they have become committed.
7. One should not make one’s analysis more precise than one’s actual trading could ever possibly be.

8.If the rational mind has not determined the parameters of a trade, then upon execution, the lizard brain will decide.
9. Never go on vacation with open trading positions.
10.  All higher forms of math and statistics are useless in uncovering regularities.
Technically Yours/ASR TEAM/BARODA/INDIA

Bill Lipschutz Quotes

  
  Education
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 Sultan of Currencies in the New Market Wizards and at the time Salomon Brothers largest and most successful forex trader for 8 years. 

 

”Missing an opportunity is as bad as being on the wrong side of a trade. Some people say (after they have the opportunity to realize a profit) ‘I was only playing with the market’s money’. That’s the most ridiculous thing I ever heard.”

”When you’re in a losing streak, your ability to properly assimilate and analyze information starts to become distorted because of the impairment of the confidence factor, which is a by-product of a losing streak. You have to work very hard to restore that confidence, and cutting back trading size helps achieve that goal.”
”I don’t have a problem letting my profits run, which many traders do. You have to be able to let your profits run. I don’t think you can consistently be a winner trading if you’re banking on being right more than 50 percent of the time. You have to figure out how to make money by being right only 20 to 30 percent of the time.”
”Successful traders constantly ask themselves: What am I doing right? What am I doing wrong? How can I do what I am doing better? How can I get more information? Courage is a quality important to excel as a trader. It’s not enough to simply have the insight to see something apart from the rest of the crowd, you also need to have the courage to act on it and stay with it.”
”It’s very difficult to be different from the rest of the crowd the majority of the time, which by definition is what you’re doing if you’re a successful trader.”
”So many people want the positive rewards of being a successful trader without being willing to go through the commitment and pain. And there’s a lot of pain.”
”Avoid the temptation of wanting to be completely right.”  

Key to winning at trading

  
  Education
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key-asrThe real secret to making money in the markets is simply by having bigger winners than losses. A robust system may only have a 50/50 win rate but the half that are winners are much bigger than the other half that are losers. That is the key to winning at trading, not stock picking, not some secret formula that will get you in at the bottom and out at the top. Winning traders simply have small losses when they are wrong and big wins when they are right. They don’t have to be right every time they just have to be right big and wrong small. It makes no difference what method you use to achieve this you just have to be consistent in your method once you have found a winning one.

 

Maslow's Hierarchy of Needs

  
  Education
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Maslow's Hierarchy of Needs
 

Abraham Maslow would be 105 years old today. ThisGreat Graphic, fromResilience.org, depicts the hierarchy of needs is he associated.   The more securely the basic needs were satisfied, the easier one can attain the higher levels, ultimately leading to self-actualization.  
 
Unlike other psychologists, like Freud for example, who studied unhealthy people and induced what healthy was, Maslow studied people he thought were self-actualized. 
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