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The Mind of a Trader
The famous trader, Nicolas Darvas, fell into the same trap that besets most burgeoning self-directed investors. Like most he became overconfident after his initial success:
“In a few days of trading, I threw overboard everything I had learned… I did everything I trained myself not to do. I talked to brokers. I listened to rumors. I was never off the ticker. It was as if the get-rich-quick demon had got hold of me. I completely lost a clear perspective I had so carefully built up… Step by step I led myself along a path where I began to lose my skill." Most of us who trade do so because we think we have an advantage, and usually we do. The edge we develop (or that we are taught) is usually significant and viable. Our trading system and investment techniques have been thoroughly thought out. As we review our trades, our entries and exits, we can usually see we are within inches of the Investors’ Holy Grail. Investment success is just slightly beyond our grasp. We say to ourselves "with just a little more skill I am finally going to make it - - I will be where I have always dreamed I could be". READ MORE |
For the Novice Investor Active Stock Trading What would I do if I had $5,000 to invest, and I was a complete novice when I came to the stock market? To succeed at anything education is required. We live in an expert driven society. We just want to concentrate on our own expertise and delegate everything else to other experts. However, I strongly believe there are three areas in our life in which we must become our own expert, or else we will suffer immeasurably. So where do we have to go beyond “readin’, ritin’ and rythma-tick”? The first and perhaps most obvious area is family - - both our spiritual family and our physical family. Our family is where we can gain our greatest satisfaction and happiness. If we can learn giving, sharing and responsibility, summed up in the word caring, we do well, very well. The second area that is crucial is our health. It must becoming clear that simply depending upon doctors and Big Pharma is the road to slow suicide. We need to listen to our body and optimize how we feel. This means wholesome food, adequate exercise and sunshine, as well as above all else, personal peace. We need to educate our selves to fall into harmony with nature. The third area we can never delegate is the management of our money. The worst thing we can do is to gullibly and blindly find a financial “expert” to take care of it. Our entire financial industry is designed to fleece the unsuspecting public. The structure rewards its advisers in a way that is contrary to our best interests. It's called bonuses and commissions. Active Stock Trading To begin educating ourselves in investments, it is best to read books and attend seminars/classes, where we are the ones who are taught the nuts and bolts of (1) the stock market, (2) the real estate market, and/or (3) either home-based business or personal entrepreneurship. Such education must help us build judgment and hone our skills. There has to be an action/practice component to the teaching… or it is as useless as a music appreciation course to a cow. My personal expertise is in the stock market. Developing good judgment can only come from the experience of trading with live bullets. The richness of that experience is directly proportional to the books I read and the seminars I attended. I read books mainly on the (1) psychology of investing, (2) analysis of stock market charts, (3) the biographies of those investors who personally made it big in the market, and on (4) trading systems. It took time to learn where I could find the best online brokers and who had the best trading systems. Then I had to make committed choices. But don't follow blindly my thoughts and recommendations - - that would start you on the road to disaster. Go educate yourself. Become your own best expert in the crucial areas of your life. That is where you'll find peace and prosperity. Active Stock Trading Oh, by the way, as you learn, do everything in your power to protect your Nest Egg. It takes us years of sweat, tears, and real blood to accumulate savings for real investment. NEVER LOSE YOUR INITIAL CAPITAL. Any program that does not safeguard YOUR Labor of Love is useless, and more lethal than the Plague. The entire investment community is set up to extract voluntary "taxes" from you, through its agents, brokers, advisers and other well-wishers. Again & above all, never lose your initial capital. Finally, understand education along with the development of judgment and skill is the stuff that true success is made of. Select the right goal for yourself and pursue pragmatic applicable education to that end. Use drive! When obstacles arise, innovate resourcefully. And more importantly, never quit - - never give up - - never, never, NEVER! Active Stock Trading Victory goes to the doggedly determined. Protect your health and your money or you will end up with nothing. Lastly, as you follow your pursuits, reengineer and tweak your goals toward spiritual purposes. Without family and true values applied, financial success becomes meaningless, and is eventually lost to worthless games. Happiness is all about following our real destiny. Understandingly yours, Trader Cool |
 Active Stock Trading Does Your Stock Trading System Answer These Questions?
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