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Random Gyaan

Discuss Random Gyaan at the Words of Wisdom within the Traderji.com; SOURCE: Brooks Trading Course, Al Brooks There's never a trade with 100% probability of success ...


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  #11  
Old 8th December 2015, 12:20 AM
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Default Re: Random Gyaan

SOURCE: Brooks Trading Course, Al Brooks

Quote:
There's never a trade with 100% probability of success because nobody will be ready to take the other side of that trade. All trades have a probability ranging from 40%-60%.


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  #12  
Old 8th December 2015, 12:34 AM
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Default Re: Random Gyaan

SOURCE: Investment Biker, Jim Rogers

Quote:
Most of us don’t have the discipline to stay focused on a single goal for five, ten, or twenty years, giving up everything to bring it off, but that’s what’s necessary to become an Olympic champion, a world class surgeon, or a Kirov ballerina. Even then, of course, it may be all in vain. You may make a single mistake that wipes out all the work. It may ruin the sweet, lovable self you were at seventeen. That old adage is true: You can do anything in life; you just can’t do everything. That’s what Bacon meant when he said a wife and children were hostages to fortune. If you put them first, you probably won’t run the three-and-a-half-minute-mile, make your first $10 million, write the great American novel, or go around the world on a motorcycle. Such goals take complete dedication.

Last edited by mindgames; 8th December 2015 at 09:16 AM. Reason: formatting
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  #13  
Old 8th December 2015, 09:15 AM
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Default Re: Random Gyaan

Good stuff! Keep it up.


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SOURCE: A Investment Biker, Jim Rogers
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  #14  
Old 10th December 2015, 06:40 PM
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Default Re: Random Gyaan

David Druz:

Quote:
Everyone who enters the market thinks they will win, but obviously there are losers as well. Somebody has to be losing to you if you are winning, so we always like to stress that you should know from whom you’re going to take profits, because if you’re buying, the guy that’s selling thinks he’s going to be right, too.
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  #15  
Old 11th December 2015, 03:04 PM
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Default Re: Random Gyaan

John W Henry:

Quote:
They say patience is a virtue. For me patience is synonymous with discipline. You must have the discipline to know that markets change and poor periods are followed by good period. Longevity in this business—I have seen it again and again—is measured by discipline.
Anais Nin:

Quote:
We don’t see things as they are. We see things as we are.
Henry Kaufman:

Quote:
There are two kinds of people who lose money: those who know nothing and those who know everything.
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  #16  
Old 12th December 2015, 01:43 PM
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Default Re: Random Gyaan

Atlas Shrugged, Ayn Rand:

Quote:
People don’t want to think. And the deeper they get into trouble, the less they want to think. But by some sort of instinct, they feel that they ought to and it makes them feel guilty. So they’ll bless and follow anyone who gives them a justification for not thinking
The Lost World, Michael Crichton:

Quote:
Human beings never think for themselves, they find it too uncomfortable. For the most part, members of our species simply repeat what they are told-and become upset if they are exposed to any different view. The characteristic human trait is not awareness but conformity, and the characteristic result is religious warfare. Other animals fight for territory or food; but, uniquely in the animal kingdom, human beings fight for their 'beliefs.'

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  #17  
Old 12th December 2015, 01:57 PM
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Default Re: Random Gyaan

Trend Following, Michael Covel:

Quote:
If you’re going to chase success, the basic principles, the basic psychological requirements are the same, no matter what you do in life. You still have to wake up every day with a deep desire to be successful. You have to be consistently focused every day. You can’t just wake up and say, “Hey, I’m going to give a little bit of effort today and see what happens. If it doesn’t work out for me, I can say I tried and complain to my wife or girlfriend.”
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  #18  
Old 12th December 2015, 02:37 PM
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Default Re: Random Gyaan

Larry Hite in Trend Following, Michael Covel:

Quote:
There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet, no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
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  #19  
Old 13th December 2015, 09:49 PM
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Default Re: Random Gyaan

Investment Biker, Jim Rogers

Quote:
One of the biggest mistakes most investors make is believing they’ve always got to be doing something…the trick in investing is not to lose money…the losses will kill you. They ruin your compounding rate; and compounding is the magic of investing.
Anonymous:

Quote:
You can’t be a trader when you’re right and an investor when you’re wrong. That’s how you lose.
Trend Following, Michael Covel

Quote:
Traders should feel sick if they average losers, not just embarrassed. When you have a losing position, it must tell you something is wrong. As unbelievable as it seems to the novice investor, the longer a market declines, the more likely it is to continue declining. Falling markets must never be viewed as places to buy cheap.
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  #20  
Old 13th December 2015, 10:56 PM
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Default Re: Random Gyaan

Trend Following, Michael Covel:

Quote:
When you are in the heat of the trading battle, your rules for entry or exit or how much you should buy must be precise. You cannot afford to think about the rules as the situation unfolds. You must have an unambiguous plan established in advance.
Quote:
...in the markets and indeed in life, success starts with realizing that one’s opinion means nothing. The market will move as life will move, perfectly unpredictable and with the best laid plans going horribly awry. We can’t control the market just as we can’t control the future.

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Last edited by mindgames; 13th December 2015 at 11:02 PM.
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