One cannot refuse to eat just because there is a chance of being choked. -Chinese Proverb
Overcoming fear of taking the trade after the seeing a trade.....
"Every morning we are born again . . ." – Buddhist Proverb
How true for trading
If you don't step forward, you're always in the same place. – Nora Roberts
Keep growing as a trader....self talk
"Losing is a learning experience. It teaches you humility. It teaches you to work harder. It's also a powerful motivator." - Yogi Berra
Successful traders tolerate critics to teach facts of trading that conflict with the beliefs of unsuccessful traders......(quoted from somewhere..... not mine)
We are masters of the unsaid words, but slaves of those we let slip out. – Winston Churchill
How true for the trade announced.....and trading gut ignored....
The best teachers are those who show you where to look, but don’t tell you what to see. — Alexandra K. Trenfor
And trades we take are the best teachers we have got....
Confucius says: "If you make a mistake and do not correct it, this is called a mistake."
"Since it is all too clear, it takes time to grasp it." — Zen Proverb
Trading is simple and hence difficult
Do not look where you fell, but where you slipped. —African Proverb
Feeling of loss is crippling....and demoralising....hence making us forget to see where we slipped
Perhaps one has to be very old before one learns how to be amused rather than shocked. – Pearl S. Buck
A trader, therefore, better age in trades than years...
He who angers you conquers you. ~ Elizabeth Kenny
Operators do that daily....and not just anger....
Habits are first cobwebs, then cables. -Spanish Proverb
Critical for traders......
"Confidence comes not from always being right but from not fearing to be wrong." - Peter T. Mcintyre
Traders included
A smooth sea never made a skilled mariner. ~ English Proverb
Don't seek easy trading setup, seek skill and good nerve
The key to change is to let go of fear. ~ Rosanne Cash
Essential advanced quality required to succeed as a trader
By nature, men are nearly alike; by practice, they get to be wide apart. -Confucius
Practice practice practice
The true value of a (trader) can be found in the degree to which he has attained liberation from the self. – Albert Einstein
The roots of education are bitter, but the fruit is sweet. -Aristotle
Learn, don't gamble
I’m the only person I know that’s lost a quarter of a billion dollars in one year…. It’s very character-building. – Steve Jobs
The nicest thing about the rain is that it always stops eventually. – A.A. Milne / Eeyore
Difficult times do end in trading career
You have to put in many, many tiny efforts that nobody sees or appreciates before you achieve anything worthwhile. – Brian Tracy
(Learning trading) is 1pc inspiration and 99pc perspiration....
"Before enlightenment, chop wood, carry water. After enlightenment, chop wood carry water." ~ Zen Proverb
Chop wood, carry water......practice practice practice
Chop wood, carry water......practice practice practice
Life begins at the end of your comfort zone. – Neale Donald Walsche
(Trading) Excellence is an art won by training & habituation. -Aristotle
It has been my philosophy of life that (trading) difficulties vanish when faced boldly. ~ Isaac Asimov
What can't be cured (in market) must be endured. -English proverbs
To understand the heart and mind of a (successful trader), look not at what he has already achieved, but what he aspires to. ~ Khalil Gibran
The only thing we have to fear (in trading) is fear itself. – Franklin D. Roosevelt
Give me a lever long enough and a fulcrum on which to place it, and I shall move the world. ~ Archimedes
Once u learn it, leverage..... but only thereafter
It is not the (market) mountain we conquer but ourselves. ~ Edmund Hillary
He who fears something gives it power over him. -Moorish proverb
I don't fear operators any more....and this is helping.... self talk....
(Some of these postings are part of my daily homework and mind muscle workout.time i spend with myself thinking about my trading)
Fear makes the wolf bigger than he is. -German proverb
Fear and greed are only engines of trading. Get rid of both,not just in words but in reality. Trade like an unimotional humanised machine.
For me, trading is one of the three sources of joy and meaning in life.it is not only about money. It is about self realisation, happiness, challenge, security, joy, character building....self talk
If you want to improve, be content to be thought foolish and stupid.
— Epictetus
A trader must not cover up his stupid trades and trade bases by dressing his bruises with hollow excuses...must slap self and admit his foolishness loud and clear....
Only the educated are free.
— Epictetus
Most of our (announced) trades are approval seeking chest thumping kick seeking gallery performances rather than genuine wise Gujarati trades making critical trading sense.....our trades are more of wishful gambles. If traditional traders in our cities were to know how and on what basis we choose our trade, they will laugh at us....just because we have a demat account, money to blow doesn't mean we are true traders...most of the time we are the pseudo rich who come to market like people go to race courses....self talk
Can (a trader) remain unmoving until the right action arises by itself?
— Tao te Ching
Thoughts cement attitudes towards trading situations. Flexibility, neutrality is sacrificed setting the stage for a perfect failure....self
"Grasp at nothing.resist nothing"....i like it guru.... that's the essence!
Eg....i get a sense that we are in sell on rise phase as of now....but I am ready for any painting the operators draw on this canvas background....
Good traders are never proactive IMO. they are reactors....with strategy, backup plans and resources
Operators trap the eager. The lazy join the hunters.
I am not an adventurer by choice but by fate.
— Vincent Van Gogh
I don't take trades. Trades take themselves. i am just their broker.
IMO, it is a pity that everyone, every new upcoming aspirant trader thinks technicals is the only and compulsory way. let me tell them, it is not the only way, and surely not compulsory. it helps but it also traps. it is a mole. it is working as much for operators to snatch you money as much as helping you to snatch operators'
you need gaming skill to make money in market, not technical skills. operators know what technicals you are looking at. don't be a sitting duck for them
technicals are just a language. rules of same technicals are evolving and changing regularly to ensure the tiny ridiculously resourceful minority keeps trapping the sheepish masses
I'm not against technicals. I use them. but I use them to guess operators' game and what masses are being lured into.
95pc are losing despite technicals.
95pc are losing despite technicals.
technicals are non living things. they are just applied psychology mathematical models. but the tragedy is they are considered absolute truths whereas the reality is that they are dynamic tools of tactical players for mass destruction
0009: JS ji.. this is leading to one more question... what if Operators know that we know them ?
0009: what if mass turn into " we know you" types ? how will they plan then
js:they will love it. they will see it as a superb opportunity to roast all of us together by changing the game
it is a game. you need gaming skill. period. IMO. I've been saying this since years. all my method and system is based on this.
life, is no doubt, fair
I woke up long ago and can't tell how glad I'm. I go nuts explaining my trading approach and system to those who seek, for this very reason. people are stuck in the archaic grooves.
009: JS ji, life is fair... i am rem this famous "The Story of the Taoist Farmer"
009: JS ji, life is fair... i am rem this famous "The Story of the Taoist Farmer"
js: in a way, I don't mind. I might unwittingly be eating their money. can't help it
no lion loves educated cattle
Trading for excitement will cost you time, money and your emotional health. – Amy Sangster
If a man fools me once, shame on him. If he fools me twice, shame on me. -Chinese Proverbs
I shiver to recall how many times operators have fooled the masses....
I never learned anything while I was talking. ~ Larry King
Serious trading self training is strictly personal affair.....self talk
"Successful investing is anticipating the anticipations of others." - John Maynard Keynes
"No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation." - Robert Rhea
"I was seldom able to see an opportunity until it had ceased to be one." - Mark Twain
"If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks." - John Bogle
sometimes ago, i used to hate the adverse movements of the market especially at the cusps of trend changes or when the markets entered ranges without warnings, without my even suspecting it. not any more. when i realised that there is money to made even during adverse times. rather, there is more money to be made during bluffs (provided ofcourse, u know how to spot the bluff with reasonable accuracy). if u can't spot the bluff, u hand over the money, if u can spot, u get the chance to up your cheque. after a few tries, the fear goes down and u start seeing the juicy opportunity in the trend turning chaos.......self talk
"If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks." - John Bogle
"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." - Jim Rogers
during these long ice ages do the hedge funds and professionals make most of their money......
"In investing (as well as trading), what is comfortable is rarely profitable." - Robert Arnott
short term trading is (practically) opposite to the investing (in the same stock, at the same time).....investing is value picking, short term trading is dodge money snatching
"The stock market is never obvious. It is designed to fool most of the people, most of the time." - Jesse Livermore
: to avoid being a fool is actually becoming a fool......imo
: the most difficult lesson to learn in trading is to be comfortable being "the odd man out", "the fool",
"the loner".......reapeatedly.....its like swallowing ur pride time after time......without this skill trading success can never be true and consistent.
"The more you think you know, the more closed-minded you'll be." - Ray Dalio
clever and pro traders don't know all....rather, they know they don't know for sure.....but they have trading traps to trap money successfully.....
"Only when the tide goes out do you discover who's been swimming naked." - Warren Buffet
"Risk come from Not Knowing what You are Doing." - Warren Buffett
never trade like a scared pigeon....ready to fly at the first loud sound.....which eventually will be...pros know what they are doing and what they "will be doing" if "something new happens"
"Options are to Stocks and Futures as 3D Chess is to Checkers" - Jack Bouroudijan from CNBC
options are difficult to understand, but once done open floodgates of options!!!
"If markets were rational I'd be waiting tables for a living" - Warren Buffett
what more proof do we need that being surprised,shocked, trapped is a normal thing to expect in stock market. so instead of hating it, expect it and design trade system accordingly.
"It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation." ~William Bernstein
vibrations are the weaknesses of the market. pity, instead of exploiting them, we turn weak instead
don't worry about being right or wrong in a trade.....keep thinking about making money in every situation.....if u don't make cash, make stocks
There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market.
Paul Tudor Jones
The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
Paul Tudor Jones
trading is a business.....the most rewarding profitable business with least overheads
Trading is very competitive and you have to be able to handle getting your butt kicked.
Paul Tudor Jones
u don't try and forget bad trades.....u put it on the autopsy table and do a michelangelo
never fear a losing trade....make him ur best friend....blood relative
if u can trade vegetables....u can trade any commodity on the commodity exchange....and if u can trade a commodity, u can trade stocks/indices.......it is our trading common sense which is numb
"The game taught me the game. And it didn’t spare me rod while teaching." Jesse Livermore
see......even JL called it "game".....it is, it is, it is...
trading is a hunting game....the prey will always behave errantly.....keep ur cool, play it
everyone looks for trading success by learning to win. they hit road blocks because they take wrong road. for trading success learn to lose. by learning to win, u r ignoring/avoiding the ways u lose. this way u r not learning. the one who has exhausted the ways of losing and learning/noting all, is all set to win.
“In the short run, the market is a voting machine, but in the long run it is a weighing machine.”
– Benjamin Graham.
if u can take advantage of this anamoly, u have the trading talent. u r cunning enough to be a successful trader
“Novice Traders trade 5 to 10 times too big. They are taking 5 to 10% risks on a trade they should be taking 1 to 2 percent risks.”
– Bruce Kovner.
bet small till u learn. leverage when u have graduated. plough back part of the profit to scale up.
never trade with ur family's money, your future's money, borrowed money. if u have got the formula, u can grow exponentially. money doesn't make money. formula makes money. novices try making money with money power.
“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”
– Nobel Laureate for Economics Paul Samuelson.
trading too is not gambling
“The minute you get away from the fundamentals – whether it’s proper technique, work ethic, or mental preparation – the bottom can fall out of your game.”
– Basketball Legend Michael Jordan
how true for trading
trading is playing the bluff game
most of our technical analyses is used to signal entry points....hardly any to signal exits.....self talk
learn the theoretical basics of bungie jumping and then take the jump. because till u take the actual jump, even ph.d. in theory won't make u a good bungie jumper. fort hat u have to take the jump. then jump after jump. after the basics, develop ur own theory......same about trading.
this is what i did, frankly, when i look back.....self talk
if people are throwing value out of panic, keep picking
"Every once in a while, the market does something so stupid it takes your breath away." - Jim Cramer
learn to identify it, then exploit it....the market is willing to fund it for u with options
if i have seen ur bluff, why wouldn't i short it? self talk
“Time is your friend; impulse is your enemy.”
Amateurs want to be right. Professionals want to make money.
If you want to have a better performance than the crowd, you must do things differently from the crowd. - Sir John Templeton
If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks more cheaply to your portfolio. - Warren Buffet
what a hint for trading...
It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong. -- George Soros
money is made by discounting the obvious and betting on the unexpected. - George Soros
In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten. - Peter Lynch
"Every day I assume every position I have is wrong." Paul Tudor Jones
"Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt." Paul Tudor Jones
and my inspiration =
“After a while size means nothing. It gets back to whether you’re making 100% rate of return on $10,000 or $100 million dollars. It doesn’t make any difference.”Paul Tudor Jones
"I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms." Paul Tudor Jones
"At the end of the day, the most important thing is how good are you at risk control." Paul Tudor
“ 90 % of the people in the stock market, professionals and amateurs alike, simply haven’t done enough homework,” -William J.O’Neil
ok, stop calling yourself a trader....call urself businessman.....maybe that way, u will choose the trade-off better.....self talk
To have a method or a trading plan truly hardwired into your head takes many, many impressions or, ideally, many months or even years of demo or live trading. Gaining that experience takes discipline. - Jay Norris
We recommend always starting out with just one contract per position trade and keeping your stop far enough away from price. Your stop generally should be placed just beyond the last swing high or low on the chart. - Jay Norris
Taking a few days off from watching the market to clear your mind can be the best remedy for a losing streak. - Kathy Lien
Trading is a business like every other business. You have to gain knowledge and experience and constantly make decisions. You can never eliminate the decision-making process by rules, systems or any software if you want to succeed in the business.
Robert C. Miner
A trade plan does not guarantee success, but lack of one guarantees failure.
Robert C. Miner
If you can’t make money with unleveraged trades, you’ll never make money with leveraged trades.
Robert C. Miner
Until you have developed a consistently successful trading plan that is profitable on a regular basis, your objective is not to make money but to learn to trade.
Robert C. Miner
the above 2 i have believed since years
I believe day-trading provides the least return for your time and investment of any time frame of trading.
Robert C. Miner
The best trading systems have less than ten rules.
Markus Heitkoetter
Usually you can expect the following from a robust trading system: 1. A winning percentage of 60-80%; 2. A profit factor of 1.3-2.5; 3. A maximum drawdown of 10-20% of the yearly profit.
Markus Heitkoetter
Find a system that produces at least five trades per week.
Markus Heitkoetter
Trade only twice a day – once in the morning and once in the afternoon. Continue trading this way for at least the first 2 to 3 months. I recommend a toolbox consisting of at the most three Indicators.
Markus Heitkoetter
A successful trader is one who is able to apply proven methods with a success rate of about 70%. In fact, some successful traders are very profitable even with a 60% success rate.
Yeo Keong Hee
We should always respect the presence of support and resistance levels on a price chart; they represent "invisible forces" that tend to repel prices away from them.
Yeo Keong Hee
Successful trading is often about uncovering tendencies in our trading behaviour that originate from the subconscious mind.
Yeo Keong Hee
Successful trading is often about uncovering tendencies in our trading behaviour that originate from the subconscious mind.
Yeo Keong Hee
The trader who masters all three—-technical analysis, fundamental analysis, and risk management-—is truly a “triple threat” trader.
Ed Ponsi
Achieving a goal of just 1 percent per month would put you well ahead of most traders, since the majority of traders lose money. While a goal of 2 percent per month may not sound awe inspiring, if we can achieve it consistently, the annual gain will be just shy of 27 percent—and you’ll have outperformed most mutual funds and hedge funds........By the time you work your way up to consistent monthly returns of 3 percent and then 4 percent, you’ll be putting up respectable numbers, and you’ll have gained the benefit of months of experience. If you can achieve consistent monthly gains of 5 percent or 6 percent, you will have truly joined the elite.--Ed Ponsi
An important factor of trading success lies in the matching of Method with the trader’s own personality and trading style.
Grace Cheng
The key is to make your overall trading approach meaningful but to make any individual trade meaningless.
Boris Schlossberg
reading all this from global legends and veterans is so encouraging and confidence boosting and endorsing. it's like they are telling me all this face to face....
It really should not take more than 30 minutes a day to evaluate all markets, and it could take only 10 to 15 if you can really focus on the markets instead of your opinions about the markets. All you need to trade on a position basis is a few minutes at the end of the market day to place your orders for the next day.
Bill Williams
If you are totally new to the markets, you may expect a learning curve of one to a few months. Our goal is 10 percent per month ROI. That is more than 300 percent per year.
Bill Williams
One of the reasons institutional traders succeed better than does the average trader is that they have much more capital behind them. They can and do make the same mistakes but don’t have to worry that one mistake will end their careers; with capital and management behind them, they can survive those mistakes.
Marcel Link
Every day you’ll get one or two situations that look and feel great. Just be patient and wait for them; there is no need to try to beat the market all day long.
Marcel Link
