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Be Imperfect

  
  Education
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As a trader – or an investor – you will not be right all of the time. If you can accept your imperfection, and work within it, you will be much more successful:

If you have a perfectionist mentality when trading, you are setting yourself up for failure, because it is a “given” that you will experience losses along the way. You must begin to think of trading as a game of probability. Your losses ( that you hope will return to breakeven) will kill you. If you cannot take a loss when it is small ( because of the need to be perfect), then you will watch that small loss grow into a larger loss and so on into a vicious cycle of more and more pain for the perfectionist. Trading on hope does not work. The markets can remain irrational for a lot longer than you can remain solvent.

The object should be excellence in trading, not perfection. Moreover, it is essential to strive for excellence over a sustained period, as opposed to judging that each trade must be excellent. This is a marathon…not a sprint.

The greatest traders know how to take cut losses and let winning positions run. Perfectionists often do exactly the opposite. They get in at the wrong time, stay in too long and then get out the wrong time. Perfectionists are always striving and never arriving. The market will find the flaw in a perfectionistic trader and exploit it day after day.

Trading Nuggets

  
  Education
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…to be right or wrong in a trade is NOT a decision. It is what happens. To STAY right or wrong IS a decision..we all trade what we believe happens next. Since NOBODY knows what happens next, we learn to think purely in probabilities. Does not matter what happens next. It is what you DO when you find out what happens next that separates winning traders from losing traders.

—it is a marathon, not a sprint. Your job ONE as a trader is to protect trading equity. Most traders look at what they can make in a trade. NOT what they could lose.

—Trade markets on YOUR terms…as the saying goes…much rather be in cash wishing I was in the market than being in the market wishing I was in cash.

Be Imperfect

  
  Education
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imperfectAs a trader – or an investor – you will not be right all of the time. If you can accept your imperfection, and work within it, you will be much more successful:

 

If you have a perfectionist mentality when trading, you are setting yourself up for failure, because it is a “given” that you will experience losses along the way. You must begin to think of trading as a game of probability. Your losses ( that you hope will return to breakeven) will kill you. If you cannot take a loss when it is small ( because of the need to be perfect), then you will watch that small loss grow into a larger loss and so on into a vicious cycle of more and more pain for the perfectionist. Trading on hope does not work. The markets can remain irrational for a lot longer than you can remain solvent.

The object should be excellence in trading, not perfection. Moreover, it is essential to strive for excellence over a sustained period, as opposed to judging that each trade must be excellent. This is a marathon…not a sprint.

The greatest traders know how to take cut losses and let winning positions run. Perfectionists often do exactly the opposite. They get in at the wrong time, stay in too long and then get out the wrong time. Perfectionists are always striving and never arriving. The market will find the flaw in a perfectionistic trader and exploit it day after day.

10 Secrets To Success

  
  Education
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SUCCESS-1) How You Think Is Everything – Always be positive. Think success, not failure. Beware of a negative environment.

2) Decide Upon Your True Dreams & Goals – Write down your specific goals and develop a plan to reach them.

3) Take Action – Goals are nothing without action. Don’t be afraid to get started. Just do it.

4) Never Stop Learning – Go back to school or read books. Get training and acquire skills.

5) Be Persistent & Work Hard – Success is a marathon, not a sprint. Never give up.

6) Learn To Analyze Details – Get all the facts, all the input. Learn from your
mistakes.

10 KEYS TO SUCCESS

  
  Education
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1.  How you think is everything – always be positive.  Think success, not failure.  Beware of a negative environment.

2.  Decide upon your true dreams and goals.  Write down your specific goals and develop a plan to reach them.

3.  Take action.  Goals are nothing without action.  Don’t be afraid to get started.  Just do it.

4. Never stop learning.  Go back to school or read books.  Get training and acquire skills.

5.  Be persistent and work hard.  Success is a marathon, not a sprint.  Never give up.

6. Learn to analyze details.  Get all the facts, all the input.  Learn from your mistakes.

7. Focus your time and money.  Don’t let other people or things distract you.

8.  Don’t be afraid to innovate.  Be different.  Following the herd is a sure way to mediocrity.

9.  Deal and communicate with people effectively.  No person is an islan.  Learn to understand and motivate others.

10.  Be honest and dependable.  Take responsibility.  Otherwise, nos. 1-9 won’t matter.

Be Imperfect

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #

As a trader – or an investor – you will not be right all of the time. If you can accept your imperfection, and work within it, you will be much more successful:

If you have a perfectionist mentality when trading, you are setting yourself up for failure, because it is a “given” that you will experience losses along the way. You must begin to think of trading as a game of probability. Your losses ( that you hope will return to breakeven) will kill you. If you cannot take a loss when it is small ( because of the need to be perfect), then you will watch that small loss grow into a larger loss and so on into a vicious cycle of more and more pain for the perfectionist. Trading on hope does not work. The markets can remain irrational for a lot longer than you can remain solvent.

The object should be excellence in trading, not perfection. Moreover, it is essential to strive for excellence over a sustained period, as opposed to judging that each trade must be excellent. This is a marathon…not a sprint.

The greatest traders know how to take cut losses and let winning positions run. Perfectionists often do exactly the opposite. They get in at the wrong time, stay in too long and then get out the wrong time. Perfectionists are always striving and never arriving. The market will find the flaw in a perfectionistic trader and exploit it day after day.

10 KEYS TO SUCCESS

  
  Education
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1.  How you think is everything – always be positive.  Think success, not failure.  Beware of a negative environment.

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2.  Decide upon your true dreams and goals.  Write down your specific goals and develop a plan to reach them.

3.  Take action.  Goals are nothing without action.  Don’t be afraid to get started.  Just do it.

4. Never stop learning.  Go back to school or read books.  Get training and acquire skills.

5.  Be persistent and work hard.  Success is a marathon, not a sprint.  Never give up.

6. Learn to analyze details.  Get all the facts, all the input.  Learn from your mistakes.

7. Focus your time and money.  Don’t let other people or things distract you.

8.  Don’t be afraid to innovate.  Be different.  Following the herd is a sure way to mediocrity.

9.  Deal and communicate with people effectively.  No person is an islan.  Learn to understand and motivate others.

10.  Be honest and dependable.  Take responsibility.  Otherwise, nos. 1-9 won’t matter.

Trading Quotes for Traders

  
  Education
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Human emotion is both the source of opportunity in trading and the greatest challenge.
Master it and you will succeed.
Ignore it at your peril.

Trade with an edge, manage risk, be consistent, and keep it simple.
The entire Turtle training, and indeed the basis of all successful trading, can be summed up in these four core principles.

Good trading is not about being right, it’s about trading right.
If you want to be successful, you need to think of the long run and ignore the outcomes of individual trades.

Trading with an edge is what separates the professionals from amateurs.
Ignore this and you will be eaten by those who don’t.

Edges are found in the places between the battleground between buyers and sellers.
Your task as a trader is to find those places and wait to see who wins and who loses.

Mature understanding of and respect of risk is the hallmark of the best traders.
They know if you don’t keep an eye of risk, it will set its eye on you.

Ruin is the risk you should be concerned with the most.
It can come like a thief in the night and steal everything if you’re not watching carefully.

Don’t spent all your time admiring the fancy tools in the magazine.
First learn how to use the basic ones well. It’s not the size of your tools that counts but how you use them.

Keep it simple. Simple time-tested methods that are well executed will beat fancy complicated method every time.

Trading with poor methods is like learning to juggle while standing in a rowboat during the storm. Sure, it can be done, but it is much easier to juggle when one is standing on a solid ground.

Trading is not a sprint; it is boxing. The market will beat you up, screw with your head, and do anything it can to defeat you. But when the bell sounds at the end of the twelfth round, you must be standing in the ring in order to win.

The market does not care how you feel. It will not prop up your ego or console you when you are down.
Therefore, trading is not for everyone. If you are unwilling to face the truth about the markets and the truth about your own limitations, fears and failures, you will not succeed.

Trading Wisdom

  
  Education
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…to be right or wrong in a trade is NOT a decision. It is what happens. To STAY right or wrong IS a decision..we all trade what we believe happens next. Since NOBODY knows what happens next, we learn to think purely in probabilities. Does not matter what happens next. It is what you DO when you find out what happens next that separates winning traders from losing traders.

—

It is a marathon, not a sprint. Your job ONE as a trader is to protect trading equity. Most traders look at what they can make in a trade. NOT what they could lose.

—

Trade markets on YOUR terms…as the saying goes…much rather be in cash wishing I was in the market than being in the market wishing I was in cash.

Trading Quotes from Way of Turtle by Curtis Faith

  
  Education
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Dont spent all your time admiring the fancy tools in the magazine.
First learn how to use the basic ones well. Its not the size of your tools that counts but how you use them.
Keep it simple. Simple time-tested methods that are well executed will beat fancy complicated method every time.
Trading with poor methods is like learning to juggle while standing in a rowboat during the storm. Sure, it can be done, but it is much easier to juggle when one is standing on a solid ground.
Trading is not a sprint; it is boxing. The market will beat you up, screw with your head, and do anything it can to defeat you. But when the bell sounds at the end of the twelfth round, you must be standing in the ring in order to win.
The market does not care how you feel. It will not prop up your ego or console you when you are down.
Therefore, trading is not for everyone. If you are unwilling to face the truth about the markets and the truth about your own limitations, fears and failures, you will not succeed. (more…)

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