Random Gyaan

[mindgames]

Square off that trade when it falls through your stop loss...

 

[mindgames]

*In the jungle which animal is the biggest .......I heard you say ........ Elephant.*

*In the jungle which animal is the tallest...... I heard you say ......Giraffe.*

*In the jungle which animal is the wisest.......I heard you say ..........Fox*

*In the jungle which animal is the fastest ........I heard you say .......Cheetah.*

*Uhmm. Among all these wonderful qualities mentioned.. ..Where is the Lion in the picture?*

*But yet you say the Lion is the king of the jungle even without any of these qualities.*

*But I discovered something fascinating about the Lion.*

*_The Lion is Courageous_*

*_The Lion is very bold_*

*_The Lion is always ready to face any mountain, any challenges, any barriers that cross his path, no matter how big they are._*

*_The Lion walks with confidence._*

*_The Lion dares anything and is never afraid_*

*_The Lion believes he is unstoppable._*

*_The Lion is a risk taker_*

*_The Lion believes any animal is food for him_*

*_The Lion believes any opportunity is worth giving a trial and never allows it to slip from his hands._*

*_The Lion has charisma._*

*_What is it that I want you to learn from the piece?_*

*_You don't need to be the fastest, you don't need to be the wisest, you don't need to be the smartest, you dont need to be the most brilliant, you don't need to be generally accepted to become your dreams and be great in life._*

*_All you need is courage, all you need is boldness, all you need is the will to try , all you need is the faith to believe it is possible, all you need is to believe in yourself that you can. Because you are the only one that should be up there, no one else._*

 

[mindgames]

Self-control

 

[mindgames]

Lessons from "The Invisible Gorilla - How our intuitions deceive us"

1. In-attentional blindness:
# Sometimes we focus so much on a particular aspect that we miss something obvious.
# "Looking without seeing" / Tunnel vision. Do not blindly follow a set of procedured. Avoid multi-tasking.
# Expect the unexpected. Spend specific time thinking about what could go wrong and how to deal with it.

2. Illusion of memory:
# Do not trust your memory too much. Over a period of time, distortions creep in without us realizing.
# Our memories are impacted what we want/feel/bias/expectations etc. We may miss "changes" in the scenario.
# Do not use vividness and emotionality as an indicator of accuracy

3. Illusion of confidence
# Incompetence causes overconfidence. Those not possessing adequate skills tend to underestimate the complexity of a task and overestimate their own ability. As you gain skill, your confidence levels become appropriate.
# Greater self-confidence does not necessarily mean greater skill. Could mean lack of self-awareness. Be wary when someone or you are extremely confident.
# Similarly, don't assume that lack of confidence means lack of skill. Those not confident can be right and those who are confident can be wrong.

4. Illusion of knowledge
# A lot of times, we think we know but actually we don't. There are gaps in our knowledge that we are not aware of.
# Experts can be wrong. The best laid plans can go wrong. Don't trust blindly. Prefer experts who know the limits of their knowledge.
# Sometimes, it is better to have less info vs. more. Avoids noise and information overload/ redundancy.
# Technobabble, scary vocabulary does not mean better. Could merely be brain porn.
# Calibrate your judgment in the light of new evidence/ appropriate feedback to eliminate illusion of knowledge.

5. Illusion of cause
# Don't jump into conclusions by assuming coincidence to mean causation. Avoid inferring/interpreting automatically that X led to Y.
# Only way to definitively test whether an association is causal is to run a random experiment (one that is not impossible to conduct, not ethically dubious, not prohibitively expensive to replicate).
# Don't rely on personal anecdotes to decide. Use overall facts instead of stray incidents.

6. Illusion of unlimited potential
# Our potential is limited. Doing simple things like listening to music, solving crosswords etc. does not "unlock" untapped mental ability.
# Doing something repeatedly, improves your performance at that particular task. It does not unlock untapped potential.
# There could be 'narrow/limited' transfer b'ween related/similar activities though.
# Aerobic activities lead to improvement in performance of cognitive tasks .

 

[mindgames]

 

[mindgames]

Adam Grimes. Position sizing/ Money Management.

Use too much risk, focus only on the upside, dream of the big home runs, and you’re rolling the dice; your entire trading account becomes a lottery ticket. Focus on the risk first, manage that risk, and make sure that each of your trades is a correct, consistent bet size, and you’re on the path to being a professional trader and working toward consistency.

 

[mindgames]

How Agassi trumped Becker

SOMETIMES victory comes down to the tiniest and strangest of details.

For three years, Andre Agassi agonised over what he needed to do to his game, what approach needed changing up in his quest to beat Boris Becker.

Between 1988 and 1989, the pair met on three occasions, the German claiming a hat-trick of wins.

While not the longest stint for any player to have gone without beating their biggest rival, competition between the pair continued to grow, the spotlight on the pair intensified and so too did Agassi’s obsession with breaking the hoodoo.

And then a breakthrough.

On the hard courts of Indian Wells in 1990, Agassi put a new theory to the test. A small, but ever so important observation he had made after endless hours of watching replays of Becker in action.

He watched for the German’s tongue.

That’s right, his tongue.

“Becker beat me the first three times we played because he had a serve the type of which the game had never seen before,” Agassi told Uncriptd

“I watched tape after tape of him and stood on the other side of that net three different times, and I started to realise he had this weird tick thing with his tongue."

“I’m not joking.”

Agassi explained that just before Becker tossed the ball on his serve he would stick his tongue out. If it went to the left of his mouth he was serving wide towards the tramlines, if it remained in the middle the ball was staying central.

Agassi’s fortunes against Becker improved markedly after he clocked his ‘tell’. The discovery transformed Agassi’s record against Becker. In the 11 meetings which followed, the German managed just one victory (Wimbledon semi-final 1995) before ending his career in 1999 with a 4-10 record against the American.

During that time, Agassi says the biggest problem was discretion. He had to allow Becker to win certain points with his thunderous serve in a bid to ensure “his tongue still poked out”.

“The hardest part wasn’t returning his serve,” Agassi said. “The hardest part was not letting him know that I knew this. So I had to resist the temptation of reading his serve for the majority of the match and choose the moment when I was going to use that information.

“I didn’t have a problem breaking his serve, I had a problem hiding the fact I could break it at will, I just didn’t want him keeping that tongue in his mouth.”

Becker retired seven years before Agassi, and it was only once the German was firmly out of the game that the secret was revealed.

“I told Boris after he retired. I told him at Oktoberfest, we had a pint and I couldn’t help but say “do you know you used to do this’

“He fell off the chair.

“He said ‘I used to go home and tell my wife — it’s like he reads my mind’. Little did I know you were just reading my tongue’.”

 

[mindgames]

Leadership

 

[mindgames]

From the internet

If regular people are these beautiful horses.


Then billionaires would be donkeys.


They are stubborn and won't get tired easily going in same circles over and over and over again.

They don't mind working day and night or on weekends.

People lack the same stubborn motivation because they don't see results quick enough and they work for others so they get tired of it.

Motivation is a variable with normal people. Sometimes you get tired doing what you do. Job or your own business.

With billionares it's like a donkey on a mill. Motivation is a constant it never goes down but rarely. Which keeps them doing what they do to accumulate wealth. Yet it's not the only factor.

Now you could have the same motivation as a billionare but you might not be a risk taker which doesn't qualify you as a businessman. Another factor could be the lack of skill that's makes you a billionare. W.B is a billionare because he have unique skills to investments. Facebook, Google and other Tech startups billionares have innovation in their respective technology field that allowed them to come up with these ideas. Another factor is simply you have the skills but not the scale for example you could be the best dentist in the world but never will be a billionare because you can't scale your skills to serve millions of customers. You could franchise but that's not being a dentist anymore but a businessman.

There is alot of factors to account for to be a billionare. But mindsets wise it would be consistent motivation that separate the billionares from most people.

So if you have the consistant motivation quality you are a billionare material. You just need to complete the other factors.

Sent from my GT-I9500 using Tapatalk

 

[mindgames]

Discovered this in the forum today:

http://m.futuresmag.com/2011/12/31/simple-money-management-wins-over-time?page=1