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20 Amazing Life Lessons-Steve Jobs

Don’t Wait

When the young Steve Jobs wanted to build something and needed a piece of equipment, he went straight to the source.

“He began by recalling that he had wanted to build a frequency counter when he was twelve, and he was able to look up Bill Hewlett, the founder of HP, in the phone book and call him to get parts.”
 

Make Your Own Reality

Steve Jobs learned early that when you don’t like how things are in your life or in your world, change them, either through action or sheer force of will.

“As Hoffman later lamented, “The reality distortion field can serve as a spur, but then reality itself hits.” – Joanna Hoffman, part of Apple’s early Macintosh team.

“I didn’t want to be a father, so I wasn’t,” Jobs later said, with only a touch of remorse in his voice.
 

Control Everything You Can

Steve Jobs was, to a certain degree, a hippie. However, unlike most free spirits of the 1960s-to-1970s love-in era, Jobs was a detail-oriented control freak.

“He wants to control his environment, and he sees the product as an extension of himself.” (more…)

Anxiety and future in the Traders life

anxiety-disorderAnxiety is a future oriented emotion. You never will get anxious about events that have already occurred. Suppose we had been anxious about a trade but now it’s over with profit hit or stopped out. We no longer feel anxiety – only feel nothing, or satisfaction, or remorse, or disappointment, or sorrow, or some other past oriented emotion.

Anxiety communicate a message that there’s something in our future for which we need to prepare. This is a vital, a self-protection message. (more…)

Trading Quotes for Traders

The tape tells the truth, but often there is a lie buried in the human interpretation
~~Jesse Livermore~~

 
 Your human nature prepares you to give up your independence under stress. when you put on a trade, you feel the desire to imitate others and overlook objective trading signals. This is why you need to develop and follow trading systems and money management rules. They represent your rational individual decisions, made before you enter a trade and become a crowd member.
~~A. Elder~~

 
 Charts not only tell what was, they tell what is; and a trend from was to is (projected linearly into the will be) contains better percentages than clumsy guessing
~~R. A. Levy~~ 

 
The biggest risk in trading is missing major opportunities, most of enormous gains on my accounts came from 5% of trades.
~~Richard Dennis~~

 
Take every gain without showing remorse about missed profits, because an eel may escape sooner than you think
~~Joseph de la Vega~~

 
Losing is part of trading. The best traders don’t get perturbed by losing trades, since over the long run they know they will be successful more often than not. When you are afraid of losing, you end up losing or missing opportunities because you are afraid to trade.
~~Trading to Win, Ari Kiev~~

 
In trading, the vast market consists of neophytes who are looking for magical answers to make lots of money quickly and with little risk. They want specific ideas. They want to be told exactly what to do. Those looking for such things will not find them. They will not be successful as long as they continue to favor the easy over the
truth.
~~Curtis Faith ~~ 

 
The difficulty in trading lies not in the concepts but in the application.
Curtis M. Faith

5 Trading Pitfalls To Avoid

Pitfalls1. Aiming too high – There is no quick way to get rich. You need to be realistic in the goals you set and do not overpromise yourself. The success in trading is the ability to follow through.

2. Trying to win them all – – Keep adding to a loser position instead of getting out. The result based on impulsive trades usually becomes a lot worse before it gets better.

3. Hoping to recover from big drawdown – Get out of your losing positions quick. It is inevitable that you get caught in the wrong end of a trending market. Always a day late and many many dollars short !

4. Don’t know when to stop/check – It is time to reflect when your system loses the edge. Don’t send yourself into mine fields. Take some time off and regroup your strategy.

5. Being stubborn – Don’t fight the wrong fight and keep kicking yourself. Remorse about your misfortune won’t changed what have happened. Trading is supposedly fun, challenging and rewarding. If you  don’t feel this way, please stop trading.

5 Trading Pitfalls To Avoid

1. Aiming too high – There is no quick way to get rich. You need to be realistic in the goals you set and do not overpromise yourself. The success in trading is the ability to follow through.

2. Trying to win them all – – Keep adding to a loser position instead of getting out. The result based on impulsive trades usually becomes a lot worse before it gets better.

3. Hoping to recover from big drawdown – Get out of your losing positions quick. It is inevitable that you get caught in the wrong end of a trending market. Always a day late and many many dollars short !

4. Don’t know when to stop/check – It is time to reflect when your system loses the edge. Don’t send yourself into mine fields. Take some time off and regroup your strategy.

5. Being stubborn – Don’t fight the wrong fight and keep kicking yourself. Remorse about your misfortune won’t changed what have happened. Trading is supposedly fun, challenging and rewarding. If you don’t feel this way, please stop trading.

One Out Of Every Ten Wall Street Employees Is A Psychopath, Say Researchers

Maybe Patrick Bateman wasn’t such an outlier.

One out of every 10 Wall Street employees is likely a clinical psychopath, writes journalist Sherree DeCovny in an upcoming issue of the trade publication CFA Magazine (subscription required). In the general population the rate is closer to one percent.

“A financial psychopath can present as a perfect well-rounded job candidate, CEO, manager, co-worker, and team member because their destructive characteristics are practically invisible,” writes DeCovny, who pulls together research from several psychologists for her story, which helpfully suggests that financial firms carefully screen out extreme psychopaths in hiring.

To be sure, typical psychopathic behavior runs the gamut. At the extreme end is Bateman, portrayed by Christian Bale, in the 2000 movie “American Psycho,” as an investment banker who actually kills people and exhibits no remorse. When health professionals talk about “psychopaths,” they have a broader range of behavior in mind.

A clinical psychopath is bright, gregarious and charming, writes DeCovny. He lies easily and often, and may have trouble feeling empathy for other people. He’s probably also more willing to take dangerous risks — either because he doesn’t understand the consequences, or because he simply doesn’t care. (more…)

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