Luck,Life and Stock Market


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2: Know The Difference Between Boldness And Rashness

It’s all very well to take this lesson and jump into every new thing that comes along, but this could send you to the poor house pretty quickly. Indeed, there is a difference between “boldness” and “rashness”, and these differences are the same in life as well as the stock market.

Would you take a massive risk for a small reward? Studies have found that most people would. This is probably one of the main reasons most people will also fail in the stock market – they don’t look at it in terms of risk to reward. Taking a large risk for a small reward would be considered “Rash”.

Bold people on the other hand, will take the risk but only if the reward is large enough to justify that risk.

It’s not always easy to see the difference between being rash and being bold. Often we will tell ourselves that an idea is “rash”, just so we don’t have to do anything and can feel better about ourselves. But if we don’t do anything, we fail. So, knowing the difference between boldness and rashness is very important.


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Dear Amit,

Quite an interesting topic. Need to go through it.

But one serious question....Bhai ye itne idea aate kahaa se hai tumhe ???:D:D:D


This a based on a series of articles by Dave McLachlan and the research behind this is the book "The Luck Factor" by Max Gunther.

Whenever I come across such good things while reading , I feel inspired to share it with all my fellow traders/members of this great forum.


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3: Don’t Insist On Having Total Advance Knowledge Of Any Situation You Are About To Enter

It is very easy not to make a decision. And often we give ourselves excuses, or “reasons” why it’s OK not to do something. We tell ourselves something bad might happen, or we’re afraid because we don’t know what might happen in the future.

Here’s the rub – no one does. NO ONE KNOWS what is going to happen – and as fun as it is to speculate, the truth still remains that no one knows. And if you don’t try something, you’ll never achieve anything! In fact, I would go one step further and tell you something I’ve learned in my own life:

The rich and lucky don’t avoid risk, they manage it.

In other words lucky people ARE bold, they DO take risks, but then they manage those risks as they go along. So don’t insist on total advance knowledge before entering a situation. Don’t get “analysis paralysis”. Be bold, go for gold, then manage your risk as you go along.

Can you see a way you might be able to be more bold in your life? Are you waiting for more advance information before you start something? Or are you always on the lookout, ready to jump on lucky opportunities?


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So far in our quest to get Lady Luck on our side we’ve looked at two of the five common traits of lucky people – as discovered by Max Gunther in his 30 year study of the lucky in his book, “The Luck Factor”. We’ve looked at cutting your losses when a situation in life turns sour and has little hope of improvement. We’ve also looked at being bold in life, and taking risks measured carefully against the potential reward they might bring.

So what’s next? Is it lucky charms, numbers or signs? Is it a special potion we can swallow to become lucky? Well Gunther does go into these things in The Luck Factor, but they are not what help make a person lucky. No, the next thing we can focus on to become lucky in life and the stock market is very simple, and he calls it “The Spiderweb Structure”.


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Luck Factor 3: The Spiderweb Structure

When you look at a spiderweb, what do you see? Apart from a beautiful and inspiring feat of nature, we might see strands of web, all intertwined and all supporting each other in a natural way. And when we look at lucky people, they have a spiderweb of sorts too - hundreds of people who are intertwined in their lives, supporting them in a natural way. From mere acquaintances to life long friends, the lucky have a way of being remembered by those they meet – and when an opportunity comes up they are usually the ones who benefit.

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