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Do you trade your opinions? Some warning signs

  1. You find it hard to be enthusiastic for something until you know that others oppose it.
  2. You have little interest in getting clear on what exactly is the position being argued.
  3. Realizing that a topic is important and neglected doesn’t make you much interested.
  4. You have little interest in digging to bigger topics behind commonly argued topics.
  5. You are less interested in a topic when you don’t foresee being able to talk about it.
  6. You are uncomfortable taking a position near the middle of the opinion distribution.
  7. You are uncomfortable taking a position of high uncertainty about who is right.
  8. You care far more about current nearby events than similar distant or past/future events.
  9. You find it easy to conclude that those who disagree with you are insincere or stupid.
  10. You are reluctant to change your publicly stated positions in response to new info.
  11. You are reluctant to agree a rival’s claim, even if you had no prior opinion on the topic.
  12. You are reluctant to take a position that raises the status of rivals.
  13. You care more about consistency between your beliefs than about belief accuracy.
  14. You go easy on sloppy arguments by folks on “your side.”
  15. You have little interest in practical concrete implications of commonly argued topics.
  16. Your opinion doesn’t much change after talking with smart folks who know more.
  17. You are especially eager to drop names when explaining positions and arguments.
  18. You find it hard to list weak points and counter-arguments on your positions.
  19. You feel passionately about a topic, but haven’t sought out much evidence.
  20. You are reluctant to not have an opinion on commonly discussed topics.
  21. More?

If u have any……..send me at [email protected]

How to know when to exit your position?

This started as a quirky post but quickly turned into something probably more useful. I admit the post is based on personal experiences. Luckily, I do not make these mistakes any more….at least not very often ;). Enjoy!

1) It is time to sell when…..you find yourself using extra technical indicators on charts to justify holding your position that you didnt use to get into it in the first place!

2) It is time to sell when…..you find yourself going to yahoo message boards to see if someone has some positive news that you don’t know!

3) It is time to sell when…..you find yourself justifying to yourself holding a position for fundamental reasons when you entered it for technical reasons!

4) It is time to sell when…..when you ask an “expert” on twitter or some blog to chart a stock checking for entry when you are already in it!

Let me know if you readers have any other such fun “indicators” and I shall add them

Tech Gained $1.7 Trillion in 2017

“Between the FAANG quintet and China’s rivaling BAT companies, gains in the world’s top technology shares are nearing a whopping $1.7 trillion in market value this year.
That’s more than Canada’s entire economy, and exceeds the worth of Germany’s biggest 30 companies put together. The eight tech giants — Facebook Inc., Amazon Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc., as well as their Asian peers Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. — have amassed as much money in 2017 as Pacific Investment Management Co., one of the world’s biggest fund managers, has done in about 46 years.” (emphasis added)

The chart nearby shows some comparison veresus, DAX, Pimco and Canada!
 
Monster Tech Gains 2017 YTD
click for ginormous graphic

Paul Tudor Jones: The Secret To Successful Trading

“The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge. Because I think there are certain situations where you can absolutely understand what motivates every buyer and seller and have a pretty good picture of what’s going to happen. And it just requires an enormous amount of grunt work and dedication to finding all possible bits of information.

You pick an instrument and there’s whole variety of benchmarks, things that you look at when trading a particular instrument whether it’s a stock or a commodity or a bond. There’s a fundamental information set that you acquire with regard to each particular asset class and then you overlay a whole host of technical indicators and that’s how you make a decision. It doesn’t make any difference whether it’s pork bellies or Yahoo. At the end of the day, it’s all the same. You need to understand what factors you need to have at your disposal to develop a core competency to make a legitimate investment decision in that particular asset class. And then at the end of the day, the most important thing is how good are you at risk control. 90% of any great trader is going to be the risk control.”

Be sad and cry

sad

Crying will improve your trading.
Crying releases certain hormones that have the affect of “calming the mind” thus you
will have a clear mind for trading.

read this link someone else posted….
http://answers.yahoo.com/question/i…09091936AAANd8x
Not to be confused with depression!!
Emotions and trading:
HAPPY … bad (careless trades)
ANGRY … very bad (revenge trading)
DEPRESSION… very bad (thoughts of getting rope from closet)
SAD …. very good (calm and clear mind)
 

How to know when to exit your position?

This started as a quirky post but quickly turned into something probably more useful. I admit the post is based on personal experiences. Luckily, I do not make these mistakes any more….at least not very often ;). Enjoy!

1) It is time to sell when…..you find yourself using extra technical indicators on charts to justify holding your position that you didnt use to get into it in the first place!

2) It is time to sell when…..you find yourself going to yahoo message boards to see if someone has some positive news that you don’t know!

3) It is time to sell when…..you find yourself justifying to yourself holding a position for fundamental reasons when you entered it for technical reasons!

4) It is time to sell when…..when you listen to an ” Idiot expert” on Blue Channels  or Joker Analysts Websites  to chart a stock checking for entry when you are already in it!

Let me know if you readers have any other such fun “indicators” and I shall add them.