Bakwaas Trading

saakk

Well-Known Member
#73
I am in the stock market because of greed.

If fear was the dominant feeling, I would not have left a cushy job for day trading.
Then it is not GREED, it is about SOLVING the puzzle, Wrecking your brain bout what gona happen next, its the KICK... cause if it was greed you wouldn't have left your JOB and still trying to make money out of it...................... but YOU are NOT... :thumb:
 

jamit_05

Well-Known Member
#74
Then it is not GREED, it is about SOLVING the puzzle, Wrecking your brain bout what gona happen next, its the KICK... cause if it was greed you wouldn't have left your JOB and still trying to make money out of it...................... but YOU are NOT... :thumb:
Maybe his earlier job did not show a promise like the one which the market shows. His job was not worth his greed.
 

augubhai

Well-Known Member
#76
Ed Seykota Quote 1:
“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”

Ed Seykota Quote 2:
“Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”. However, if you catch on early, before others believe, you might have valuable “surprise-a-mentals”.”

Ed Seykota Quote 3:
“If you can’t measure it, you probably can’t manage it… Things you measure tend to improve.”

Ed Seykota Quote 4:
“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.”

Ed Seykota Quote 5:
“There are old traders and there are bold traders, but there are very few old, bold traders.”

Ed Seykota Quote 6:
“”I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.”

Ed Seykota Quote 7:
“Systems trading is ultimately discretionary. The manager still has to decide how much risk to accept, which markets to play, and how aggressively to increase and decrease the trading base as a function of equity change.”

Ed Seykota Quote 8:
“Trying to trade during a losing streak is emotionally devastating. Trying to play “catch up” is lethal.”

Ed Seykota Quote 9:
“The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.”

Ed Seykota Quote 10:
“Losing a position is aggravating, whereas losing your nerve is devastating.”

Ed Seykota Quote 11:
” The markets are the same now as they were five to ten years ago because they keep changing – just like they did then.”

Ed Seykota Quote 12:
“Luck plays an enormous role in trading success. Some people were lucky enough to be born smart, while others were even smarter and got born lucky.”

Ed Seykota Quote 13:
“Having a quote machine is like having a slot machine at your desk – you end up feeding it all day long. I get my price data after the close each day.”

Ed Seykota Quote 14:
“A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do.”

Ed Seykota Quote 15:
“If you can’t take a small loss, sooner or later you will take the mother of all losses.”

Ed Seykota Quote 16:
“It is a happy circumstance that when nature gives us true burning desires, she also gives us the means to satisfy them. Those who want to win and lack skill can get someone with skill to help them.”

Ed Seykota Quote 17:
“I usually ignore advice from other traders, especially the ones who believe they are on to a “sure thing”. The old timers, who talk about “maybe there is a chance of so and so,” are often right and early.”

Ed Seykota Quote 18:
“I set protective stops at the same time I enter a trade. I normally move those stops in to lock in a profit as the trend continues.”

Ed Seykota Quote 19:
“I intend to risk below 5 percent on a trade, allowing for poor executions.”

Ed Seykota Quote 20:
“I don’t judge success, I celebrate it. I think success has to do with finding and following one’s calling regardless of financial gain.”

Ed Seykota Quote 21:
(On losing streaks and over-trading) “Acting out this drama could be exciting. However, it also seems terribly expensive. One alternative is to keep bets small and then to systematically keep reducing risk during equity drawdowns. That way you have a gentle financial and emotional touchdown.”

Ed Seykota Quote 22:
“In order of importance to me are: 1) the long term trend, 2) the current chart pattern, and 3)picking a good spot to buy or sell.”

Ed Seykota Quote 23:
“Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.”

Ed Seykota Quote 24:
“Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.”

Ed Seykota Quote 25:
“Be sensitive to subtle differences between ‘intuition’ and ‘into wishing’.”

Ed Seykota Quote 26:
“The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.”


:::>>> Source <<<:::
 

saakk

Well-Known Member
#77
Augubhai,
What is the difference between INTUTION and TUTION??????
 

augubhai

Well-Known Member
#80
Thanks for the thoughts...........

Some quotes from "ART OF WAR" by SUN TZU which are even true for traders.

1. It is said that if you know your enemies and know yourself, you will not be imperiled in a hundred battles; if you do not know your enemies but do know yourself, you will win one and lose one; if you do not know your enemies nor yourself, you will be imperiled in every single battle.

2. He who knows when he can fight and when he cannot will be victorious.

3. What is essential in war is victory, not prolonged operations.

4. Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win.

5. �THERE ARE ROADS WHICH MUST NOT BE FOLLOWED, ARMIES WHICH MUST NOT BE ATTACKED, TOWNS WHICH MUST NOT BE BESIEGED, POSITIONS WHICH MUST NOT BE CONTESTED, COMMANDS OF THE SOVEREIGN WHICH MUST NOT BE OBEYED.�

6. Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.

7. Opportunities multiply as they are seized.

8. In peace prepare for war. In war prepare for peace.

"Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win."


Sun Tzu says that we should backtest before we put real money on the line. Otherwise we will lose like Augubhai's un-backtested daSARa trades of 2013.
 
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