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20 Ways to Get Good Karma- Dalai Lama,Many teachings can be directly applied to trading

  1. Take into account that great love and great achievements involve great risk.
  2. When you lose, don’t lose the lesson.
  3. Follow the three R’s: 
    –  Respect for self, 
    –  Respect for others and 
    –  Responsibility for all your actions.
  4. Remember that not getting what you want is sometimes a wonderful stroke of luck.
  5. Learn the rules so you know how to break them properly.
  6. Don’t let a little dispute injure a great relationship.
  7. When you realize you’ve made a mistake, take immediate steps to correct it.
  8. Spend some time alone every day.
  9. Open your arms to change, but don’t let go of your values.
  10. Remember that silence is sometimes the best answer.
  11. Live a good, honorable life. Then when you get older and 
    think back, you’ll be able to enjoy it a second time.
  12. A loving atmosphere in your home is the foundation for your life.
  13. In disagreements with loved ones, deal only with the current situation. Don’t bring up the past.
  14. Share your knowledge. It is a way to achieve immortality.
  15. Be gentle with the earth.
  16. Once a year, go someplace you’ve never been before.
  17. Remember that the best relationship is one in which your love for each other exceeds your need for each other.
  18. Judge your success by what you had to give up in order to get it.
  19. If you want others to be happy, practice compassion.
  20. If you want to be happy, practice compassion.

 

Tim Backshall On Europe: "Default Now Or Default Later" As EuroStat Complains That Greece Is Still Withholding Critical Data

There is one major problem with putting houses of card back together – they tend to fall…over and over. And while abundant liquidity in May and June served as an artificial prop to return European core and PIIGS spreads to previous levels merely as mean reversion algos took holds, the second time around won’t be as lucky. CDR’s Tim Backshall was on the Strategy Session today, discussing the key trends in sovereign products over the past few months, noting the declining liquidity in both sovereign cash and derivative exposure (we will refresh on the DTCC sovereign data later after its weekly Tuesday update). Yet the most interesting observation by Backshall is the declining halflife of risk-on episodes, which much like the SNB’s (now declining) interventions, are having less of an impact on the market, as ever worsening fundamentals can only be swept under the carpet for so long before they really start stinking up the place, and indeed, as Tim points out at 5:30 into the interview, even the IMF now realizes that soon the eventual second domino will fall, and it is better the be prepared (via the previously discussed infinitely expanded credit line), than to have to scramble in the last minute as was necessary in May. In other words, the storm clouds are gathering and only fools will invest in risk asset without getting some additional clarity on what is happening in Europe. The bottom line as Backshall asks is: “do they default now or default later.” And that pretty much sums it up. Buy stocks at your own peril.

Incidentally all this is happening as we read in an exclusive Bloomberg piece that “four months after the 110 billion- euro ($140 billion) bailout for Greece, the nation still hasn’t disclosed the full details of secret financial transactions it used to conceal debt” and that EuroStat still has not received the required disclosure about just how fake (or real) the Greek debt situation truly is. When one steps back and ponders just how bad (and unknown) the situation in Europe is, and that stocks are unchanged for the year, one must conclude, as Dylan Grice does every week, that the lunatics have truly taken over the asylum.

Trade Like an O'Neil Disciple:Must Buy -Must Read !

Here is my brief review. Detail review will follow later.
In a year around 40 to 50 books on trading are published, I read most of them, there are very few which have actionable trading ideas and can help you enhance your trading skills. Trade Like an O’Neil Disciple: How We Made 18,000% in the Stock Market is one of the best books I have read in recent years. I am already reading it second time and taking extensive notes.
If you are growth/ IBD/ momentum/ CANSLIM kind investor you will find practical ideas and some new ways of entering and exiting trades. You will also learn how explosive returns are possible under right circumstances using those methods.
The book also goes in to details of short selling and has couple of good short selling strategies.
The book is not for beginners and those looking for simple methods without much effort, you need to have some foundation about growth and momentum investing before appreciating and understanding it.
A must buy for growth/momentum investor who want explosive returns…..