Archives of “physical exercise” tag

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Top Ten Reasons Not to Trade– and Why You Should Do It Anyway

  
  Education
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#1 Trading creates no greater good
– like when you buy grain futures, the price skyrockets, and you make a killing! A poor farmer plants more seeds as a consequence, third world children get affordable bread, hmm, did I say you make a living?

#2 Trading makes you selfish
– and that’s why filthy rich old speculators turn to philanthropy.

#3 Staring at screens all day is not healthy
– which is true, and why slow lunch hours are perfect for physical exercise.

#4 Staring at screens all day is not good for your social skills
– which is why traders are out having fun when the market is closed. (Don’t “normal” people spend evenings in front of the TV?)

#5 The market is a casino
– where scrupulous gamblers make it easier (and more important) for sane traders to make a living. (more…)

The Purpose of Living Life Purposefully

  
  Education
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Here are some good self-assessment questions:
*  How purposeful are you in getting the sleep you need to function at your best?
*  How purposeful are you in getting the exercise you need to function with maximum energy?
*  How purposeful are you in eating the right foods to sustain your health and well-being?
*  How purposeful are you in organizing your time so that you’re spending your highest quality time on your most important priorities?
*  How purposeful are you in cultivating the quality of time with the people who matter most in your life?
*  How purposeful are you in ensuring that, each day, you are accomplishing something meaningful in your life?
Can we really expect to achieve our life’s purposes if we are not living our days purposefully?
Can we trade with intention and discipline if we don’t live the rest of our lives intentionally?
Everything in life can be approached with intention and purpose or it can be approached mindlessly and routinely.  In carrying out daily activities with self-direction, we strengthen our ability to stay mindful and purposeful for life’s greater goals.   
Life is one great gymnasium, but we only develop if we recognize the equipment and conduct our workouts.

Weekend -Trading Quotes

  
  Education
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Trading Journal

“Show me a trader with good records, and I’ll show you a good trader.”

– Dr. Alexander Elder


“The fruits of your trading or investment success will be in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions. You cannot wisely read a book on ‘ how to keep fit’ and leave the physical exercise to another. “

– Jesse Livermore


Risk Management

“Risk comes from not knowing what you’re doing.”

– Warren Buffet

 

Money Management

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”

– George Soros


“If you have an approach that makes money, then money management can make the difference between success and failure… … I try to be conservative in my risk management. I want to make sure I’ll be around to play tomorrow. Risk control is essential. “

– Monroe Trout


“Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it. Losers try to build a stool with only one leg, or two at the most. They usually focus exclusively on trading systems. Your trades must be based on clearly defined rules. You have to analyze your feelings as you trade, to make sure that your decisions are intellectually sound. You have to structure your money management so that no string of losses can kick you out of the game.”

– Dr. Alexander Elder


“The most important advice is to never let a loser get out of hand. You want to be sure that you can be wrong twenty or thirty times in a row and still have money in your account. When I trade, I’ll risk perhaps 5 to 10 percent of the money in my account. If I lose on that trade, no matter how strongly I feel, on my next trade I’ll risk no more than about 4 percent of my account. If I lose again, I’ll drop the trading size down to about 2 percent. I’ll keep on reducing my trading size as long as I’m losing. I’ve gone from trading as many as three thousand contracts per trade to as few as ten. “

– Randy McKay


“All traders make mistakes, great traders, however, limit the damage.”

– Unknown


“My trading style blends both the risk-oriented and conservative personality of my personality. I take the risk-oriented part of my personality and put it where it belongs to : trading. And, I take the conservative part of my personality and put it where it belongs to money management. My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds. “

– Randy McKay


“I’m more concerned about controlling the downside. Learn to take the losses. The most important thing about making money is not to let your losses get out of hand. “

– Marty Schwartz


“I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.”

– Paul Tudor Jones (more…)

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