A Strong Trading Mind
- Thread starter amitrandive
- Start date
A strong and confident mind is created by Extreme hard work and practice.
Dravid indian cricketer was spending nearly 6-8 hours practing in nets.
A highly disciplined person as he only plays ground strokes what he practiced.
Tendulkar before Australia come to india practiced with lots of leg spinners and
was hitting warne at will.
Former World Champion Anand spend nearly 10-12 hours practicing a day before any
major tournament.
And the people who passes competitive exams with ranks also work really hard.
All these people same things in common
1) Discipline - They all do what they practice,they do not play shots which they not practiced,he do play openings what he prepared,they do not simply any answer A,B,C,D(pick say today A) they answer what they know and leave what do not know as may get negative marks(like this as a trader need to do what he practiced)
2)Hard Work-All these people spends lots of time in preparation.
3)They take risk- Tendulkar stepping out and hits(what he practiced he do not fear getting stumped as he has lots of practice).(Traders should take risk with say proper money management, say 1%,2%,0.5% of total capital per trade as what there risk and confidence level is, ie a trader should tell him self that i will loose this much amount Maximum per trade ( say 500rs).
before riding the actual plane all pilots train in simulation planes
before doing any operation doctors practice on dead or as assistant of some experienced doctors
Driving even a car , bike need practice and help from some experienced people.
What i need to tell do the basic home work.d
ie find 100 or even more examples of chart with what idea u r going to trade.
exactly need to know in this where to place stoploss, targets,entry.
practice minimum 100 examples with proper paper work ie
with entry price, exit price, profit/loss, stoploss ( please do this hard work and it may take months to do this paper work).
with out this nothing can be earned consitanly.
this will give good level of confidence on your plan and you will not change your mind during trading.
Also in amibroker there is an option tools menu "bar replay"!!!! can be used as a simulator in which you can practice.u can use multi time frame charts with this using file>new>blank chart option add like 1min , 2min,3min,5min,15min,hourly,daily,weekly etc etc ,and while u play bar replay by linking symbol option below u can view all time frame charts running simultaneously creating a real feel and try practicing in this.
Do not jump in to English Channel and try to crows it with out even practicing swimming in swimming pool.
Do not use ur actual money unless u trade and make money in metatrader or amibroker platforms or any other software.
thank u
Dravid indian cricketer was spending nearly 6-8 hours practing in nets.
A highly disciplined person as he only plays ground strokes what he practiced.
Tendulkar before Australia come to india practiced with lots of leg spinners and
was hitting warne at will.
Former World Champion Anand spend nearly 10-12 hours practicing a day before any
major tournament.
And the people who passes competitive exams with ranks also work really hard.
All these people same things in common
1) Discipline - They all do what they practice,they do not play shots which they not practiced,he do play openings what he prepared,they do not simply any answer A,B,C,D(pick say today A) they answer what they know and leave what do not know as may get negative marks(like this as a trader need to do what he practiced)
2)Hard Work-All these people spends lots of time in preparation.
3)They take risk- Tendulkar stepping out and hits(what he practiced he do not fear getting stumped as he has lots of practice).(Traders should take risk with say proper money management, say 1%,2%,0.5% of total capital per trade as what there risk and confidence level is, ie a trader should tell him self that i will loose this much amount Maximum per trade ( say 500rs).
before riding the actual plane all pilots train in simulation planes
before doing any operation doctors practice on dead or as assistant of some experienced doctors
Driving even a car , bike need practice and help from some experienced people.
What i need to tell do the basic home work.d
ie find 100 or even more examples of chart with what idea u r going to trade.
exactly need to know in this where to place stoploss, targets,entry.
practice minimum 100 examples with proper paper work ie
with entry price, exit price, profit/loss, stoploss ( please do this hard work and it may take months to do this paper work).
with out this nothing can be earned consitanly.
this will give good level of confidence on your plan and you will not change your mind during trading.
Also in amibroker there is an option tools menu "bar replay"!!!! can be used as a simulator in which you can practice.u can use multi time frame charts with this using file>new>blank chart option add like 1min , 2min,3min,5min,15min,hourly,daily,weekly etc etc ,and while u play bar replay by linking symbol option below u can view all time frame charts running simultaneously creating a real feel and try practicing in this.
Do not jump in to English Channel and try to crows it with out even practicing swimming in swimming pool.
Do not use ur actual money unless u trade and make money in metatrader or amibroker platforms or any other software.
thank u
Your beliefs about yourself are what define you as a person. So if you believe that you are not good enough, unworthy, unlovable., ugly, stupid, useless then that is how you are going to see and feel about yourself, but ask yourself this question, “Where did those beliefs come from?” Usually they come from our environment as children, so our parents and family, our teachers, the other children in school. We soak up what people say to us and about us, so if you are told horrible things about yourself you are going to believe them and if you hear them often enough they form your beliefs. If you doubt this ask yourself this question “Why is the sky blue”. We only know the sky is blue because we are taught that the sky is blue, who says the sky is not green? We have put a label on it and we all believe that the label is correct.
However the label you have placed upon yourself may not be correct. As humans we are never one thing, we are always changing and evolving, just because you believed one thing about yourself does not mean that you need to cling to that belief forever. Release the negative beliefs about yourself because they were never yours in the first place. They were projections of how other people felt about themselves that they put onto you. You can change your beliefs by refusing to accept the old label. Decide for yourself who you want to be. Create your own definition of who you are and start living up to that BELIEF. You owe it to yourself to be the best that you can be.
However the label you have placed upon yourself may not be correct. As humans we are never one thing, we are always changing and evolving, just because you believed one thing about yourself does not mean that you need to cling to that belief forever. Release the negative beliefs about yourself because they were never yours in the first place. They were projections of how other people felt about themselves that they put onto you. You can change your beliefs by refusing to accept the old label. Decide for yourself who you want to be. Create your own definition of who you are and start living up to that BELIEF. You owe it to yourself to be the best that you can be.
http://vulcanpost.com/7702/jack-ma-youre-still-poor-35-deserve/
Note:- Read full article for Story of Juliet Wu Shihong
who gained success by working her way up the ranks from a cleaner, a nurse, a marketing executive, through self-education and learning on the job.
Few lines that i want to save from above article
You are poor because you have no ambition. - Jack Ma
T.E. Lawrence – “All men dream: but not equally. Those who dream in the dark recesses of the night awake in the day to find all was vanity. But the dreamers of day are dangerous men, for they may act their dreams with open eyes, and make it possible.”
Jack Ma: People lose out in life because of these 4 reasons:
Being myopic to opportunity
Looking down on opportunities
Lacking understanding
Failing to act quickly enough
You are poor, because you have no ambition.
Ambition is living a life of great ideals; a magnificent goal in life that must be realised.
In this world, there are things that are deemed unfathomable, but there is nothing in this world that cannot be done. The depth of one’s ambition determines the potential of one’ future.
Note:- Read full article for Story of Juliet Wu Shihong
who gained success by working her way up the ranks from a cleaner, a nurse, a marketing executive, through self-education and learning on the job.
Few lines that i want to save from above article
You are poor because you have no ambition. - Jack Ma
T.E. Lawrence – “All men dream: but not equally. Those who dream in the dark recesses of the night awake in the day to find all was vanity. But the dreamers of day are dangerous men, for they may act their dreams with open eyes, and make it possible.”
Jack Ma: People lose out in life because of these 4 reasons:
Being myopic to opportunity
Looking down on opportunities
Lacking understanding
Failing to act quickly enough
You are poor, because you have no ambition.
Ambition is living a life of great ideals; a magnificent goal in life that must be realised.
In this world, there are things that are deemed unfathomable, but there is nothing in this world that cannot be done. The depth of one’s ambition determines the potential of one’ future.
7 Habits Of Financially Successful People
http://www.clarkhoward.com/news/cla...7-habits-financially-successful-people/ngkhW/
While you’re busy building your own wealth, think about these 7 habits of financially successful people. And then consider how you can develop them for yourself.
They have a good relationship with money
"It will never rain roses: when we want to have more roses, we must plant more roses." – George Eliot
People who are financially successful are actively involved with their money and they understand what their assets are doing. They have budgets, they track spending, they ensure they regularly contribute to investments, and they plan ahead to avoid financial pitfalls. If a financially successful person runs into a roadblock, they work to solve the problem rather than ignoring it or blaming it on something else.
This is difficult to do if you have a bad attitude or relationship with finances. You can’t ignore your financial problems and hope they’ll go away on their own, or blame money for problems in other areas of your life. Work to erase your negative or inaccurate money scripts so you too can develop a good relationship with money. Keep a positive attitude and take personal responsibility for your financial situation (even if you’ve been dealt a tough hand).
They live frugally
"Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like" – Will Rogers
Looking rich and having wealth are two very different things.
Financially successful people don’t care about impressing other people with the stuff they own. They live well below their means so that they can invest their money and increase their wealth.
When money is invested, it can compound and continue to earn more money. Big houses, fancy cars, expensive clothing and jewelry, and the latest and greatest things and toys only eat away at your assets. They don’t provide anything in return for the money you had to exchange to acquire them -- not even lasting happiness.
They understand what their values are
"You will recognize your own path when you come upon it, because you will suddenly have all the energy and imagination you will ever need." – Jerry Gillies
That’s not to say financially successful people are cheap. They make sure to live beneath their means and save more than they spend -- but they still spend money. But it’s the way they spend it that makes all the difference.
They understand what matters to them. They’ve taken the time to discover their own values, dreams, and goals, and they use their money wisely. Every purchase is aligned with what they feel is important in life.
Instead of worrying about what anyone else says you should spend money on, take the time to reflect on what you care about and keep your money habits tuned into these values. Don’t be pressured into spending that doesn’t further you on the path to your dreams and financial goals.
They look for positives (and learn from failure)
"When things go wrong, don't go with them." – Elvis Presley
Did you know negative thinking makes it more difficult to find creative solutions to the problems you may be facing? When you dwell on negative emotions, it causes you to narrow your focus and makes it difficult for you to see the big picture. Positive thinking, on the other hand, can make you more productive, motivated, and able to take on challenges because you’re not blinded by your own negativity.
Financially successful people tend to think positive, and they surround themselves with other positive people. They don’t dwell on what went wrong; instead they use failure or mistakes as a learning opportunity so they can do better next time.
They create their own opportunities
"If opportunity doesn't knock, build a door." – Milton Berle
Those who are financially successful don’t sit around and wait for good things to fall out of the sky. They don’t rely on luck or someone else to help them. They help themselves.
For you, this may mean making your own opportunities by earning more. You can negotiate for a raise, look for a new job, pick up part-time work, freelance or do consulting on the side, try a new career, or even start your own business.
This certainly takes hard work. But the end result is worth it. Take the initiative and then take charge of your own success.
They set goals
"If you don't know where you are going, you'll end up someplace else." – Yogi Berra
To be financially successful, you have to know where you’re going. That’s why people set goals and make plans for turning their dreams into realities. They develop an action plan. If you want to be financially successful, you need to sit down and come up with your personal set of goals. Without something to work for, you’ll find it difficult to take action and move in the right direction.
Ensure your goals are realistic and break big ones down into manageable pieces that you can work on in stages. Celebrate small victories and keep track of your progress.
They ask questions
"True knowledge exists in knowing that you know nothing." - Socrates
Asking questions and constantly growing their knowledge base is one of the most important habits of financially successful people.
If they don’t know something, they ask. If someone tells them, “this is the one right way to accomplish X, Y, and Z,” they go find a second (and third, and fourth) opinion so they can make an informed decision. If they come upon a problem, they research solutions to solve it.
In other words, they constantly seek to become more financially literate. And you should, too.
The world of personal finance is filled with methods, systems, ideas, and strategies for getting things done. We all share a common goal of building wealth and doing more with our money, but there are so many paths to getting there. Learning what others say, think, and do can help you in your own journey.
Don’t let a lack of financial education stop you from trying to develop better money management habits or from building wealth. Even the most financially successful people among us started somewhere. There are countless resources available to you -- and plenty of people who can help -- but you must ask questions to get started.
http://www.clarkhoward.com/news/cla...7-habits-financially-successful-people/ngkhW/
While you’re busy building your own wealth, think about these 7 habits of financially successful people. And then consider how you can develop them for yourself.
They have a good relationship with money
"It will never rain roses: when we want to have more roses, we must plant more roses." – George Eliot
People who are financially successful are actively involved with their money and they understand what their assets are doing. They have budgets, they track spending, they ensure they regularly contribute to investments, and they plan ahead to avoid financial pitfalls. If a financially successful person runs into a roadblock, they work to solve the problem rather than ignoring it or blaming it on something else.
This is difficult to do if you have a bad attitude or relationship with finances. You can’t ignore your financial problems and hope they’ll go away on their own, or blame money for problems in other areas of your life. Work to erase your negative or inaccurate money scripts so you too can develop a good relationship with money. Keep a positive attitude and take personal responsibility for your financial situation (even if you’ve been dealt a tough hand).
They live frugally
"Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like" – Will Rogers
Looking rich and having wealth are two very different things.
Financially successful people don’t care about impressing other people with the stuff they own. They live well below their means so that they can invest their money and increase their wealth.
When money is invested, it can compound and continue to earn more money. Big houses, fancy cars, expensive clothing and jewelry, and the latest and greatest things and toys only eat away at your assets. They don’t provide anything in return for the money you had to exchange to acquire them -- not even lasting happiness.
They understand what their values are
"You will recognize your own path when you come upon it, because you will suddenly have all the energy and imagination you will ever need." – Jerry Gillies
That’s not to say financially successful people are cheap. They make sure to live beneath their means and save more than they spend -- but they still spend money. But it’s the way they spend it that makes all the difference.
They understand what matters to them. They’ve taken the time to discover their own values, dreams, and goals, and they use their money wisely. Every purchase is aligned with what they feel is important in life.
Instead of worrying about what anyone else says you should spend money on, take the time to reflect on what you care about and keep your money habits tuned into these values. Don’t be pressured into spending that doesn’t further you on the path to your dreams and financial goals.
They look for positives (and learn from failure)
"When things go wrong, don't go with them." – Elvis Presley
Did you know negative thinking makes it more difficult to find creative solutions to the problems you may be facing? When you dwell on negative emotions, it causes you to narrow your focus and makes it difficult for you to see the big picture. Positive thinking, on the other hand, can make you more productive, motivated, and able to take on challenges because you’re not blinded by your own negativity.
Financially successful people tend to think positive, and they surround themselves with other positive people. They don’t dwell on what went wrong; instead they use failure or mistakes as a learning opportunity so they can do better next time.
They create their own opportunities
"If opportunity doesn't knock, build a door." – Milton Berle
Those who are financially successful don’t sit around and wait for good things to fall out of the sky. They don’t rely on luck or someone else to help them. They help themselves.
For you, this may mean making your own opportunities by earning more. You can negotiate for a raise, look for a new job, pick up part-time work, freelance or do consulting on the side, try a new career, or even start your own business.
This certainly takes hard work. But the end result is worth it. Take the initiative and then take charge of your own success.
They set goals
"If you don't know where you are going, you'll end up someplace else." – Yogi Berra
To be financially successful, you have to know where you’re going. That’s why people set goals and make plans for turning their dreams into realities. They develop an action plan. If you want to be financially successful, you need to sit down and come up with your personal set of goals. Without something to work for, you’ll find it difficult to take action and move in the right direction.
Ensure your goals are realistic and break big ones down into manageable pieces that you can work on in stages. Celebrate small victories and keep track of your progress.
They ask questions
"True knowledge exists in knowing that you know nothing." - Socrates
Asking questions and constantly growing their knowledge base is one of the most important habits of financially successful people.
If they don’t know something, they ask. If someone tells them, “this is the one right way to accomplish X, Y, and Z,” they go find a second (and third, and fourth) opinion so they can make an informed decision. If they come upon a problem, they research solutions to solve it.
In other words, they constantly seek to become more financially literate. And you should, too.
The world of personal finance is filled with methods, systems, ideas, and strategies for getting things done. We all share a common goal of building wealth and doing more with our money, but there are so many paths to getting there. Learning what others say, think, and do can help you in your own journey.
Don’t let a lack of financial education stop you from trying to develop better money management habits or from building wealth. Even the most financially successful people among us started somewhere. There are countless resources available to you -- and plenty of people who can help -- but you must ask questions to get started.
In the words of Charmel.
Women are natural traders!
Trading is simply Buying and Selling. And my belief is that women do this a lot. In our world, this is called Shopping. I admit the main activity is the BUYING, intended for keeps – but we do Sell or otherwise get rid of something that has less or no more value. Anyway, considering women shop a lot, I thought we would be natural traders! We just don’t realize it.
In fact, this could be you:
1. You search high and low, visiting several shops, or shopping centres even – looking for an item selling below value for some reason. Anyway, considering the whole scheme of things, you want the item and is selling at a steal. You’re a Bargain Hunter. In Trading, this is called Value Trading.
2. You like to buy what is in fashion. Buying Blue? That is soooo last year! You would only go for what is in the new style. You’re in with the Trend. In Trading, this is called Trend Following or one who follows Seasonal concept in which weather patterns (a prevailing trend) dictate what would have a high demand with prices sure to move up (or down).
3. You buy what is not in season because you know it would be back –In Trading this is called Contrarian or to a certain extent Band Trading (like rubberband – stretch and go back)
4. You buy when you see a “window of opportunity” or loophole, or in shopping terms these opportunities are called “Sales”– in Trading this is called Arbitrage.
So you see, there are many concepts that work in Trading or Shopping that women do and do well. In Trading, there is money for everyone.
Read more on from here
Women are natural traders!
Trading is simply Buying and Selling. And my belief is that women do this a lot. In our world, this is called Shopping. I admit the main activity is the BUYING, intended for keeps – but we do Sell or otherwise get rid of something that has less or no more value. Anyway, considering women shop a lot, I thought we would be natural traders! We just don’t realize it.
In fact, this could be you:
1. You search high and low, visiting several shops, or shopping centres even – looking for an item selling below value for some reason. Anyway, considering the whole scheme of things, you want the item and is selling at a steal. You’re a Bargain Hunter. In Trading, this is called Value Trading.
2. You like to buy what is in fashion. Buying Blue? That is soooo last year! You would only go for what is in the new style. You’re in with the Trend. In Trading, this is called Trend Following or one who follows Seasonal concept in which weather patterns (a prevailing trend) dictate what would have a high demand with prices sure to move up (or down).
3. You buy what is not in season because you know it would be back –In Trading this is called Contrarian or to a certain extent Band Trading (like rubberband – stretch and go back)
4. You buy when you see a “window of opportunity” or loophole, or in shopping terms these opportunities are called “Sales”– in Trading this is called Arbitrage.
So you see, there are many concepts that work in Trading or Shopping that women do and do well. In Trading, there is money for everyone.
Read more on from here
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