One year and four months feels like an eternity with the world in its current state. If there is no medical breakthrough, who is to say that we won’t be having this same conversation about postponing the Olympics in Q1 next year.
The tweet thread reads:
1. With markets in turmoil this morning, where are we on virus stimulus? I’ve spoken to two senior admin officials today who say the WH is working on various ideas. But it doesn’t seem to have gone much further than the brainstorming stage.
2. A senior administration official tells me this morning virus ideas were kicked around at the WH over the weekend. But he cautions that there’s nothing on paper and it is still a long way off. “Under pressure, will they want to say they have a plan? Yes. Do they? Not really.”
The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k). Under one scenario, a household earning up to $200,000 could invest $10,000 on a tax-free basis, although officials noted these numbers are fluid.
1. You shall back test and develop quantify robust trend trading systems that are profitable over the long term.
2. You shall identify and follow the long term trend in the markets you trade, and have no guru that you bow down to.
3. You shall not try to predict the future, that is a fool’s game, but follow the current price trend.
4. You shall remember the stop loss to keep your capital safe from destruction; you shall know your exit level before your entry is taken.
5. Follow your trend following system all the days that you are trading, so that through discipline you will be profitable.
6. You shall not give up on your trading system because of a draw down.
7. You shall not change a winning system because it has had a few losing trades.
8. You shall trade with the principles that have proven to work for successful traders. Manage risk, go with the trend, and diversify so your days in the market will be long.
9. You shall keep the faith in your trend following system even in range bound markets; a trend will begin anew eventually.
10. You shall not covet fundamentalist’s valuations, Blue channels talking heads, newsletter predictions, Holy Grails, or the false claims of any of the black box systems.
Below are a few documentaries that are a must watch if you haven’t already seen them. If you have, watch them again.
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. (more…)
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. (more…)
