Archives of “self improvement” tag

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A Dozen Reflections on Life and Markets

  
  Education
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reflectiononlifeI’ve never seen a trader succeed whose explicit or implicit goal was to not lose. The trader who trades to not lose is like the person who lives to avoid death: both become
spiritual hypochondriacs.

No union was ever destroyed by a failure of romance. It is the loss of respect, not love, which ends a relationship.

Love, once present, never dies. It must be killed.

Sometimes we select markets–and trading styles–much as we choose romantic partners: by their ability to validate our deepest-held images of ourselves. Our choices generally succeed, for better or for worse.

Many a trader fears boredom more than loss, thereby experiencing the two in sequence. (more…)

Personal Strengths and Weaknesses

  
  Education
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We all have different personal strengths and weakness.  Many people focus on transforming a weakness into a strength. While that is admirable, the reality is that it’s not always possible. Although I agree with the basic idea of brain plasticity, and I whole-heartedly agree with the idea of always striving for self-improvement, I also know that as humans we have a certain degree of natural-born temperament and not everything about us can be changed.

Although we can’t always build or change every weakness into strength, the good news is that we can always leverage our strengths, if we know how. And that is mighty powerful. It’s so powerful that if you leverage the right strengths in the right way they can do an excellent job of not just counter-balancing your weaknesses, but can propel you so far ahead  that those weaknesses pale in comparison.

One of the most powerful things you can do for yourself is identifying your natural strengths and then work to see how you can build on them.

We all have different personal strengths, and knowing how to leverage them is an important part of successful trading. A major consideration here is that you try to identify and leverage your own personal strengths, and not simply copy someone else’s. All too often I see struggling traders running from one style to another style whenever they see someone else’s success. One of the primary reasons why copying someone else’s trading style doesn’t always pay off in trading is because of different personal strengths.

11 Rules For Better Trading

  
  Education
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Trading in the markets is a process, and there is always room for self improvement. So as we start the new year, here are my 11 rules that help me navigate the markets. By no means is this list exhaustive or exclusive.

Rule #1
Be data centric in your approach. Take the time and make the effort to understand what works and what doesn’t. Trading decisions should be objective and based upon the data.

Rule #2
Be disciplined. The data should guide you in your decisions. This is the only way to navigate a potentially hostile and fearful environment.

Rule #3
Be flexible. At first glance this would seem to contradict Rule #2; however, I recognize that markets change and that trading strategies cannot account for every conceivable factor. Giving yourself some wiggle room or discretion is ok, but I would not stray too far from the data or your strategies.

Rule #4
Always question the prevailing dogma. The markets love dogma. “Prices are above the 50 day moving average”, “prices are breaking out”, and “don’t fight the Fed” are some of the most often heard sayings. But what do they really mean for prices? Make your own observations and define your own rules. See Rule #1.

Rule #5
Understand your market edge. My edge is my ability to use my computer to define the price action. I level the playing field by trading markets and not companies.

Rule #6
Money management. Money management. Money management. It is so important that it is worth saying three times. There are so few factors you can control in the markets, but this is one of them. Learn to exploit it.

Rule #7
Time frame. Know the time frame you are operating on. Don’t let a trade turn into an investment and don’t trade yourself out of an investment. (more…)

Ten Common Reasons Traders Lose Discipline And How To Avoid Them.

  
  Education
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There is very little that is new in the world of trading psychology but mastering the basics and mastering our mind is essential if we are to develop as highly efficient traders. The following are common discipline issues and suggestions to counteract them. Discipline is needed if you are to succeed as a Forex trader
1. Boredom and a need to trade for the “buzz”
Try to use dead time between trades for things like self improvement training i.e. read a book by your favorite personal development guru or learn to meditate/practice Yoga! Anything that keeps you in the right frame of mind for the job of trading. A positive mindset will have a positive impact on your bottom line over time.
2. Trading when tired.
One of the great things about trading is that we can close for business whenever we want. If you are not in the correct mindset for trading then shut the shop! There will be no customers banging on the door shouting for you to open up.
3. Not taking a loss well and revenge trading (more…)

Ten Characteristics of Successful Traders

  
  Education
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1) The amount of time spent on their trading outside of trading hours (preparation, reading, etc.);10-ASR
2) Dedicated periods to reviewing trading performance and making adjustments to shifting market conditions;
3) The ability to stop trading when not trading well to institute reviews and when conviction is lacking;
4) The ability to become more aggressive and risk taking when trading well and with conviction;
5) A keen awareness of risk management in the sizing of positions and in daily, weekly, and monthly loss limits, as well as loss limits per position;
6) Ongoing ability to learn new skills, markets, and strategies;
7) Distinctive ways of viewing and following markets that leverage their skills;
8) Persistence and emotional resilience: the ability to keep going in the face of setback;
9) Competitiveness: a relentless drive for self-improvement;
10) Balance: sources of well-being outside of trading that help sustain energy and focus.

Life and Markets

  
  Education
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LIFEANDMARKETRespect is the first casualty in lost love.

Four industries dominate the economy: hope, escape, protection, and convenience.

Success is the point at which talent and skill meet opportunity.

The aim of all trading education: to encourage trading.

The printing press democratized the acquisition of knowledge; the computer has democratized its dissemination.

Date markets before deciding to marry them.

Anatomy of a bad trade: Hope, then despair.

Love, once present, never dies. It must be killed. (more…)

Ten Characteristics I See Among Successful Traders

  
  Education
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Ten CharacteristicsThere’s no one formula for trading success, but there are a few common denominators that I’ve tracked in my years of working with traders:

1) The amount of time spent on their trading outside of trading hours (preparation, reading, etc.);

2) Dedicated periods to reviewing trading performance and making adjustments to shifting market conditions;

3) The ability to stop trading when not trading well to institute reviews and when conviction is lacking;

4) The ability to become more aggressive and risk taking when trading well and with conviction;

5) A keen awareness of risk management in the sizing of positions and in daily, weekly, and monthly loss limits, as well as loss limits per position; (more…)

A to Z -Motivational Tips

  
  Education
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■A – Achieve your dreams.

Avoid negative people, things and places. Eleanor Roosevelt once said, “the future belongs to those who believe in the beauty of their dreams.” Consume yourself with the motivation to achieve tremendous results from everything you attempt

■B – Believe in your self, and in what you can do.

Motivation comes from within, if you trust in your abilities you will come out on top.

■C – Consider things on every angle and aspect.

Motivation comes from determination. To be able to understand life, you should feel the sun from both sides. Never say never, there is a way of accomplishing anything if you keep an open mind and never give up.
■D – Don’t give up and don’t give in.
Thomas Edison failed once, twice, more than thrice before he came up with his invention and perfected the incandescent light bulb. Make motivation as your steering wheel. The only way you lose for sure is when you quit.
■E – Enjoy. Work as if you don’t need money.
Dance as if nobody’s watching. Love as if you never cried. Learn as if you’ll live forever. Motivation takes place when people are happy. Maintain a positive attitude under any circumstance. Fill your mind with positive thoughts and the whole world will be your playground.
■F – Family and Friends – are life’s greatest ‘F’ treasures.
Don’t loose sight of them. So often we look past our greatest treasures, remain motivated to always seek the treasures in your family bonds.
■G – Give more than what is enough.

Where does motivation and self improvement take place? At work? At home? At school? When you exert extra effort in doing things. Try to give more than what is asked of you, this shows true self motivation.

■H – Hang on to your dreams.

They may dangle in there for a moment, but these little stars will be your driving force. Dreams keep us motivated to go after the things that excite us in life. Holding onto your dreams shows a strength in your character of positive expectations. (more…)

  
  Education
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101% U all Should Buy this Book and 101% u should read…………..!!

Just completed reading this Book (Already read 3 times and everytime …..Something NEW…..I learn )

Here are 10 Lessons from the Book :

1. The Process and the Practice:  “Confidence doesn’t come from being right all the time: it comes from surviving the many occasions of being wrong” (27). 

2. Stress and Distress:  “Thinking positively or negatively about performance outcomes interfere with the process of performing.  When you focus on the doing, the outcomes take care of themselves” (56). 

3.  Psychological Well-Being:  “We can recognize the happy trader because he is immersed in the process of trading and finds fulfillment from the process even when markets are not open” (72).

4.  Steps Toward Self-Improvement:  “Your trading strengths can be found in the patterns that repeat across successful trades” (105).

5.  Breaking Old Patterns:  “Many trading problems are the result of acting out personal dramas in markets” (133)

6.  Remapping the Mind: “When we change the lenses through which we view events, we change our responses to those events” (168)

7.  Learn New Action Patterns: “Find experienced traders who will not be shy in telling you when you are making mistakes.  In their lessons, you will learn to teach yourself” (203)

8.  Coaching Your Trading Business:  “Long before you seek to trade for a living, you should work at trading competence: just breaking even after costs” (230)

9.  Lessons From Trading Professionals:  “If you don’t trust yourself or your methods, you will not find the emotional resilience to weather periods of loss” (267)

10.  Looking For the Edge: “The simplest [trading] patterns will tend to be the most robust” (311).

And a final admonition:  “Know what you do best. Build on strengths. Never stop working on yourself. Never stop improving. Every so often, upset the apple cart and pursue wholly new challenges.  The enemy of greatness is not evil; it’s mediocrity.  Don’t settle for mediocre” (341).

Technically Yours

Anirudh Sethi/Baroda

Personal strengths and Weakness

  
  Education
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We all have different personal strengths and weakness.  Many people focus on transforming a weakness into a strength. While that is admirable, the reality is that it’s not always possible. Although I agree with the basic idea of brain plasticity, and I whole-heartedly agree with the idea of always striving for self-improvement, I also know that as humans we have a certain degree of natural-born temperament and not everything about us can be changed.

Although we can’t always build or change every weakness into strength, the good news is that we can always leverage our strengths, if we know how. And that is mighty powerful. It’s so powerful that if you leverage the right strengths in the right way they can do an excellent job of not just counter-balancing your weaknesses, but can propel you so far ahead  that those weaknesses pale in comparison.

One of the most powerful things you can do for yourself is identifying your natural strengths and then work to see how you can build on them.

We all have different personal strengths, and knowing how to leverage them is an important part of successful trading. A major consideration here is that you try to identify and leverage your own personal strengths, and not simply copy someone else’s. All too often I see struggling traders running from one style to another style whenever they see someone else’s success. One of the primary reasons why copying someone else’s trading style doesn’t always pay off in trading is because of different personal strengths.

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