when i was in college
i often used to go for fishing
alongwith my friends...
we all had got
our handmade fishing rods
we would take along
a good supply of bait
to put in the hook
bit by bit
for luring the fish.
for quite a few times
it happened
that i put the bait
lowered the hook into the water
took it out after some time
only to see the bait gone
but no fish!
i felt so bad...
till one day
when the bait was gone
and a big fish had come!
since that day
i never mind
the disappearance of small baits!
because i knew
that on and off
some bait will get me a big fish!
with this one and only and simple trick
we caught so many fishes
in our college days!
bait
was our tiny investment
for
big rewards!
this experience
came handy
during my most difficult trading days!
when i trade
i take it as a fishing game!
i decide my entry point
and the stop loss
and i consider the difference between the two
as the bait!!!
that bait is meant to be fed to the fish
it is not a loss!
quite often
it gets me the fish
sometimes quite big!
this psychological trick
did wonders for me!
but remember
a bait is a bait
not full feast!
if you don't have a stop loss
or don't honour it
the sharks take away
the ship full of bait!
---
happy fishing!
Sabtu, 28 Mei 2011
a psychological indicator
do your technical analyses
listen to the tips
do whatever
but before you take that trade
ask your head
should i enter the trade?
if it says
"yes"
don't go for it.
if it says
"are you nuts?"
go for it!
--
is this nonsense!
may seem like
but it isn't.
what the masses are thinking
generally doesn't happen.
rather the opposite happens
though stealthily.
also, generally the trade
which is difficult to take
opposite to the human psychology
full of fear
out of comfort zone
....is the profitable trade!
try this
with token money
and check for yourself!
listen to the tips
do whatever
but before you take that trade
ask your head
should i enter the trade?
if it says
"yes"
don't go for it.
if it says
"are you nuts?"
go for it!
--
is this nonsense!
may seem like
but it isn't.
what the masses are thinking
generally doesn't happen.
rather the opposite happens
though stealthily.
also, generally the trade
which is difficult to take
opposite to the human psychology
full of fear
out of comfort zone
....is the profitable trade!
try this
with token money
and check for yourself!
Jumat, 27 Mei 2011
the one who loses best, wins!
there are two ways to lose
lose smartly
lose losely
u lose smartly when u lose like a pilot whose jet goes out of control and he ejects safely.
the jet is lost but the human life and a highly trained elite pilot is saved!
u lose smartly when u pull the stop loss ejection trigger. the good thing is that even the principle jet is saved here as well as the trader pilot and his peace of mind!
on the other hand, u lose losely when u lose too late.
u lose losely when the writing is on the wall and the loss is most painful.
u lose not in the eleventh hour but 13th!
u accept the loss when u have no alibi or excuse left. when even your acceptance is no more graceful.
--
it is well known but hated secret
that good trade is never comfortable.
so, there is always a chance of loss!
so, this makes it more important as to how we lose!
--
the question is not who will be a millionaire
the question is who will stay a millionaire
so more important than winning is
preserving and building on the win.
there is only one way to ensure that
...lose smartly
and lose least!
--
that is perhaps the reason
why it is said that
trading is a losers' game!
the one who loses best, wins in the end!
lose smartly
lose losely
u lose smartly when u lose like a pilot whose jet goes out of control and he ejects safely.
the jet is lost but the human life and a highly trained elite pilot is saved!
u lose smartly when u pull the stop loss ejection trigger. the good thing is that even the principle jet is saved here as well as the trader pilot and his peace of mind!
on the other hand, u lose losely when u lose too late.
u lose losely when the writing is on the wall and the loss is most painful.
u lose not in the eleventh hour but 13th!
u accept the loss when u have no alibi or excuse left. when even your acceptance is no more graceful.
--
it is well known but hated secret
that good trade is never comfortable.
so, there is always a chance of loss!
so, this makes it more important as to how we lose!
--
the question is not who will be a millionaire
the question is who will stay a millionaire
so more important than winning is
preserving and building on the win.
there is only one way to ensure that
...lose smartly
and lose least!
--
that is perhaps the reason
why it is said that
trading is a losers' game!
the one who loses best, wins in the end!
trading inspiration
given below are some quotations which i have taken the liberty to adapt to trading:
original = 80% of success is showing up.- Woody Allen
adaptation=80% of trading success is taking the trade
original=He who dares, wins
adaptation=He who dares to take the trade and dares to honour the stoploss, wins
original=Anyone who has never made a mistake has never tried anything new - Albert Einstien
adaptation=Anyone who has never lost in trade has never tried anything new
original=Money never starts an idea; it's the idea that starts the money.- Mark Victor Hansen
adaptation=Money never makes a trade, it's the trade which makes the money
original=Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals.- Jim Rohn
adaptation=Trading success is neither magical nor mysterious. It is the natural consequence of consistently applying the basic fundamentals.
original=The path to success is to take massive determined action.- Anthony Robbins
adaptation=The path to trading success is to take massive determined action.
original=Your dreams minus your doubts equal your true worth.
adaptation=Your trading ideas minus your doubts equal your true worth.
original=The man who said he never had a chance, never took one.
adaptation=The trader who said he never had a chance, never took one.
original = 80% of success is showing up.- Woody Allen
adaptation=80% of trading success is taking the trade
original=He who dares, wins
adaptation=He who dares to take the trade and dares to honour the stoploss, wins
original=Anyone who has never made a mistake has never tried anything new - Albert Einstien
adaptation=Anyone who has never lost in trade has never tried anything new
original=Money never starts an idea; it's the idea that starts the money.- Mark Victor Hansen
adaptation=Money never makes a trade, it's the trade which makes the money
original=Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals.- Jim Rohn
adaptation=Trading success is neither magical nor mysterious. It is the natural consequence of consistently applying the basic fundamentals.
original=The path to success is to take massive determined action.- Anthony Robbins
adaptation=The path to trading success is to take massive determined action.
original=Your dreams minus your doubts equal your true worth.
adaptation=Your trading ideas minus your doubts equal your true worth.
original=The man who said he never had a chance, never took one.
adaptation=The trader who said he never had a chance, never took one.
my motivation in stock trading
i accidently ventured into stock market
in 2003 september.
at that time
i knew nothing about it.
i was a total stranger to it.
it was more of gambling to me.
i had fractured my left foot
and was confined to my home
for around one and a half months.
i had nothing else to do
so i downloaded
all the material i could
from the internet
related to stock trading.
i took out the printout of all that material
as i have always been more comfortable reading from paper
than from the screen.
i also remember
that the printout ran into more than 200 pages
it became almost like a text book.
i still remember i had crammed almost everything in there.
dow theory seemed so fascinating!
now when i look back
i shiver to recall
how useful as well as how useless
all that theory was.
the above statement might seem paradoxical but isn't.
it is a stark reality!
all the theory was useful
because it taught me the sintax and rules and basics.
but all that was useful
from today's context
because operators use
that very knowledge
to deceive everyone.
first they make us learn all that
and then don't play with those rules!
everything is there in the theory
except the tricks operators play.
if you know the theory
you know it and yet you know nothing.
and if you know the things they never tell you
(because they never know it
or because they can never know it, as it keeps changing)
you have some hope.
but for that
you have to know the basics.
anyhow,
coming back to those times
i want to share the watershed moment
when i finally decided
that i wanted to go for it
a full fledged plunge into stock trading.
two thoughts sealed my decision
one,
i realized
that the price could either go up
or down!
there was no third direction.
price couldn't come out of screen or paper.
it had to move in 2d and not 3d!
this resulted into my favourite stock market line
and my motivation
"The market will either go up or go down. So, there is always 50% chance of winning. All you need to do is try and increase that %age with technical indicators and market understanding."
after this i never looked back.
whenever in doubt or pain
i just looked at these lines...
--
and then came my second favourite line which fuelled my effortslike jet fuel
"The stakes of cracking the code of success in stock market are mind boggling!"
total time and money freedom.....
it would be like getting back your life
real life!!!
thereafter,
many hurdles and setbacks appeared
but i survived all of them.
--
all these memories
popped in my head today
when i read the following quotation today
in
'1001 motivational quotes for success'
by Thomas J. Vilord
"In every problem there is a hidden treasure inside.It's your job to find it."
in 2003 september.
at that time
i knew nothing about it.
i was a total stranger to it.
it was more of gambling to me.
i had fractured my left foot
and was confined to my home
for around one and a half months.
i had nothing else to do
so i downloaded
all the material i could
from the internet
related to stock trading.
i took out the printout of all that material
as i have always been more comfortable reading from paper
than from the screen.
i also remember
that the printout ran into more than 200 pages
it became almost like a text book.
i still remember i had crammed almost everything in there.
dow theory seemed so fascinating!
now when i look back
i shiver to recall
how useful as well as how useless
all that theory was.
the above statement might seem paradoxical but isn't.
it is a stark reality!
all the theory was useful
because it taught me the sintax and rules and basics.
but all that was useful
from today's context
because operators use
that very knowledge
to deceive everyone.
first they make us learn all that
and then don't play with those rules!
everything is there in the theory
except the tricks operators play.
if you know the theory
you know it and yet you know nothing.
and if you know the things they never tell you
(because they never know it
or because they can never know it, as it keeps changing)
you have some hope.
but for that
you have to know the basics.
anyhow,
coming back to those times
i want to share the watershed moment
when i finally decided
that i wanted to go for it
a full fledged plunge into stock trading.
two thoughts sealed my decision
one,
i realized
that the price could either go up
or down!
there was no third direction.
price couldn't come out of screen or paper.
it had to move in 2d and not 3d!
this resulted into my favourite stock market line
and my motivation
"The market will either go up or go down. So, there is always 50% chance of winning. All you need to do is try and increase that %age with technical indicators and market understanding."
after this i never looked back.
whenever in doubt or pain
i just looked at these lines...
--
and then came my second favourite line which fuelled my effortslike jet fuel
"The stakes of cracking the code of success in stock market are mind boggling!"
total time and money freedom.....
it would be like getting back your life
real life!!!
thereafter,
many hurdles and setbacks appeared
but i survived all of them.
--
all these memories
popped in my head today
when i read the following quotation today
in
'1001 motivational quotes for success'
by Thomas J. Vilord
"In every problem there is a hidden treasure inside.It's your job to find it."
Kamis, 26 Mei 2011
it's ok if ur trade goes wrong!
every morning before the market opens
i open the website
of a couple of renowned technical analysts
who regularly appear on business channels.
i quickly double check
as to what they have to say
about the day's outlook
and the outlook for the week.
this routine has been continuing
since a few months
and i have noticed
some unmistakably amusing patterns...
while one of them
is frank and blunt in expressing his "expectations"
even at the risk of being wrong
(which he is atleast one third of the times)
the other one's writeup
is a treat to read.
this otherwise highly knowledgeable famous analyst
picks his words very shrewdly indeed.
he makes sure that he has left enough
escape routes, scape goats, alibis and explanations
to justify
whatever direction market takes...
his daily outlook reads like
"it is likely to rain IF the clouds collide
and if they disperse, which can't be ruled out
a bright sunny day may unfold"
not only that
the next day
this gentleman
has the guts to use the words
"as expected" or "as i said"!
despite all this
i still read him daily
because there is something in him
which makes me seek his opinion!
why i have shared these private feelings and thoughts?
just to share
how much confidence i have gained
having come to know
that so called "experts"
also can't predict rightly
most of the times!
that they too don't know what lies instore in future!
when i see that even such big names
are also regularly befooled and outmaneouvred
by the market,
my trading pains
turn into mere bruises of a football player!
these days i refer to such websites of experts
just to tell myself
"it's ok if things don't go your way!"
"in the eyes of the market, everyone is equal"
and
"even if you are nobody, respect your viewpoint
as you may still be right, and the 'somebody' may be wrong!"
--
it is ok if your trade goes wrong.
just turn-off the wrong trades fast.
i open the website
of a couple of renowned technical analysts
who regularly appear on business channels.
i quickly double check
as to what they have to say
about the day's outlook
and the outlook for the week.
this routine has been continuing
since a few months
and i have noticed
some unmistakably amusing patterns...
while one of them
is frank and blunt in expressing his "expectations"
even at the risk of being wrong
(which he is atleast one third of the times)
the other one's writeup
is a treat to read.
this otherwise highly knowledgeable famous analyst
picks his words very shrewdly indeed.
he makes sure that he has left enough
escape routes, scape goats, alibis and explanations
to justify
whatever direction market takes...
his daily outlook reads like
"it is likely to rain IF the clouds collide
and if they disperse, which can't be ruled out
a bright sunny day may unfold"
not only that
the next day
this gentleman
has the guts to use the words
"as expected" or "as i said"!
despite all this
i still read him daily
because there is something in him
which makes me seek his opinion!
why i have shared these private feelings and thoughts?
just to share
how much confidence i have gained
having come to know
that so called "experts"
also can't predict rightly
most of the times!
that they too don't know what lies instore in future!
when i see that even such big names
are also regularly befooled and outmaneouvred
by the market,
my trading pains
turn into mere bruises of a football player!
these days i refer to such websites of experts
just to tell myself
"it's ok if things don't go your way!"
"in the eyes of the market, everyone is equal"
and
"even if you are nobody, respect your viewpoint
as you may still be right, and the 'somebody' may be wrong!"
--
it is ok if your trade goes wrong.
just turn-off the wrong trades fast.
no compulsion to be happy
a short while ago
i was reading
'1001 motivational quotes for success'
by Thomas J. Vilord
i had reached
page 11
when i came across a quotation
which stuck me
like an electric shock!
it was simple
rather too simple
....but piercing!
i was forced to put down the book
and let it sink deep.
it said
"happiness is the highest level of success."
nothing big on the face of it
but the moment you dive below the surface
you realize the intensity of the statement...
--
it wasn't mentioned
who had said it!
but whosoever would have uttered it
must have been a great great man indeed!
--
everyone on this planet
is running running running
after what?
majority don't care?
many don't know?
and rest say they are doing it all
to be happy!
and how are they doing it?
by collecting gadgets and assets
by building bank balance
by magnifying our ego and diminishing those of others
why?
they believe that this will make them happy?
so, does this actually make them happy?
they do get intoxicated
but do they become happy?
lets ask ourselves
are we happy?
are we relaxed?
is our race over?
why not?
the problem as well as the solution lie in the saying itself
"happiness is the highest level of success."
people think that since happiness is the highest level of success
one has to achieve all other forms and stages of success
to achieve this highest level i.e. happiness!
this is the very problem.
it is highest
not because of the place where it exists
but highest
because finally only happiness matters!
if finally only happiness matters
can we get it earlier than "finally"?
can we get it right here right now?
can't we be happy unconditionally?
can we detach our every race from happiness?
so that whatever we do, whatever is the outcome, we are always happy?
can't it happen that we do things because we need to do them
and not because we seek happiness!
can't we grow happiness under our feet?
can't we take happiness with us wherever we go?
--
there is no compulsion to say yes to the above question
just like there is no compulsion to be happy
actually.
--
if you are not successful
but still happy
please consider yourself
more successful than the most successful.
and if you are not happy
even after a piles of success
you are less successful than the least successful.
--
success without happiness is hollow
happiness irrespective of success is heavenly!
i was reading
'1001 motivational quotes for success'
by Thomas J. Vilord
i had reached
page 11
when i came across a quotation
which stuck me
like an electric shock!
it was simple
rather too simple
....but piercing!
i was forced to put down the book
and let it sink deep.
it said
"happiness is the highest level of success."
nothing big on the face of it
but the moment you dive below the surface
you realize the intensity of the statement...
--
it wasn't mentioned
who had said it!
but whosoever would have uttered it
must have been a great great man indeed!
--
everyone on this planet
is running running running
after what?
majority don't care?
many don't know?
and rest say they are doing it all
to be happy!
and how are they doing it?
by collecting gadgets and assets
by building bank balance
by magnifying our ego and diminishing those of others
why?
they believe that this will make them happy?
so, does this actually make them happy?
they do get intoxicated
but do they become happy?
lets ask ourselves
are we happy?
are we relaxed?
is our race over?
why not?
the problem as well as the solution lie in the saying itself
"happiness is the highest level of success."
people think that since happiness is the highest level of success
one has to achieve all other forms and stages of success
to achieve this highest level i.e. happiness!
this is the very problem.
it is highest
not because of the place where it exists
but highest
because finally only happiness matters!
if finally only happiness matters
can we get it earlier than "finally"?
can we get it right here right now?
can't we be happy unconditionally?
can we detach our every race from happiness?
so that whatever we do, whatever is the outcome, we are always happy?
can't it happen that we do things because we need to do them
and not because we seek happiness!
can't we grow happiness under our feet?
can't we take happiness with us wherever we go?
--
there is no compulsion to say yes to the above question
just like there is no compulsion to be happy
actually.
--
if you are not successful
but still happy
please consider yourself
more successful than the most successful.
and if you are not happy
even after a piles of success
you are less successful than the least successful.
--
success without happiness is hollow
happiness irrespective of success is heavenly!
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