BUSINESS ERA

I have to admit that I was not strong enough to invent these fairly simple rules of trade. Great trader gave them to me some 15 years ago. However, I'll tell you - they work. If you follow those rules, breaking them as sparingly as possible, then you will make money year after year, sometimes better, sometimes worse, but you will make money. The rules are simple - to comply with the rules is difficult.


Old, but good rules


If I have something to learn for their 17 years of trade, it is that simple methods work best. Those who rely on a set of technical tools, such as Stochastics, moving averages, Fibonacci numbers, etc., are usually aware that their head is filled with such a huge number of different information that they can not take a rational decision. One technique shows to buy, the other - to sell. A third said - waited, while the fourth points to the need to add to positions. This sounds like a stamp, but simple methods work best.



1. The first and most important rule - bychi markets tend to be long-term. This may sound obvious, but many of us have sold in the first rally in a bull market, saying that the market was moving far too long and too fast. I've done it before, and I suspect that I was ever in the future will make this again. Thus, we have increased profits, which was to grow because of our initial long position, but actually losing money, getting up in the short position. At the bull market can only be in a long position or out of the game. Remember, the lack of position - is also a position.



2. Buy the market-based instruments that show the force and sell those that show weakness. The public continues to buy when prices fell. Professional buying when prices recovered. This distinction may sound illogical, but the purchase, with an increase in work. Rule survival is not to "buy low, sell high" but to "buy higher and sell higher." In addition, when comparing the different marketing tools, buy only the strongest, and sell the weakest.



3. In the transaction, enter into it as if it has the potential to be the largest transaction year. Do not make a deal until you are well it is not designed, the plan should be designed so that adding to positions in the case of positive developments in and out of the deal with unforeseen circumstances.



4. On minor corrections against the major trend should strengthen the position. In bull markets, add to positions in the minor setback to the level of support. In bear markets, add in the correction to the level of resistance. Use the level of recovery in 33-50% of the previous movement or the respective sliding average as the first level to build positions.



5. Be patient. If the transaction is omitted, wait for correction to enter the market.



6. Be patient. Once the position is open, give it time to grow and create profits for which you are expected.



7. Be patient. The old adage that "you never bust, taking profit" is probably the most useless advice ever data. Taking small profits - this is the right way to end waste, because a small profit will never become a big income. The real money in the trade are made in one, two or three large transactions that occur each year. You should be able to patiently hold the winning position, to enable it to develop in this type of transaction.



8. Be patient. Once the position is open, give it time to work, give it time to insulate itself from random noise, give it time so that others can see what you were before them.



9. Be impatient. As always, small losses and rapid loss - this is the best loss. This is not a loss of money, which are important. Rather, it is the preservation of intellectual capital, which would be spent, when you sit with a losing position, which is important.



10.Nikogda, under any circumstances, do not add to a losing position, and not "average" position. If you are buying, then each new purchase must be at a higher price than the previous one. If you're selling, then each new selling price must be lower than the previous price. This rule shall be adhered to strictly.



11. Do more of what works and less of what does not work. Every day, look at their positions and try to add items that are generating the most revenue with the diminution of the entries, which are unprofitable or less show a profit. This is at the heart of the old proverb - "let your profits grow."



12. Not included in the trade until the technical analysis and fundamental data are not consistent. This rule makes pure technical analysts poezhivatsya. But it can not be helped. I will not sell until I am confident that the simple technical rules that I follow, and my basic research, are in tandem. Then I can act with full confidence.



13.Kogda there are significant losses, take time out. Close all transactions and halt trading in a few days. Subconscious can play with you malevolent joke after large, rapid losses. The desire to "return the money" is very strong, but he should not succumb to.



14. With a good trade, a little increase. All we have such enormous periods of time when all our deals profitable. When this happens, deal aggressively and more - strike while the iron is hot.



15. Adding to the position, add only 1 / 4 to 1 / 2 from the current position. That is, if you have 4 open lot at the next level, add no more than 1 or 2 lots. This moves the average price of your position less than half the price movements, thus allowing a 50% correction of the first not to touch your average.



16. To struggle to be on the side of the strong. We want to be on the side of those who win, do not waste our time and money on futile attempts to buy or sell at least at the maximum of some market movement. Our responsibility is to earn profit, while next to the victors. If neither side wins, we should not fight.



17. Markets form their tops, with a strong boom and form their own gutter still.



18. Last 10% of the bovine market will usually cover 50% or more of the total price movement. Thus, the first 50% of price movement will take 90% of the time and will be much more difficult to trade than the last 50%.



There is nothing "genius" in these rules. They are simply common sense and nothing else, but as Walter said, - "Common sense uncommonly. Trade - a business sense. When we trade contrary to common sense, then we lose. Maybe not always, but many, and eventually, everything. Trading is simple. Avoid complex methodologies associated with the uncertain technology systems and deal only in accordance with the main trend.


Source:
stockcharts.com

These sunglasses cleverly let you can take pictures of anything you see without having to carry around a separate camera. Perfect for taking pictures during activities where you need to use both hands, such as skiing, mountain biking or other extreme sports and ideal for indulging those James Bond spy camera fantasies!

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The Saeco Mio Modo Lavazza espresso coffee maker uses cutting edge extraction technology to produce an exceptionally full-bodied and creamy espresso.

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To better explain the use of this tool in the FOREX market, we turned to the trader Tom Dorsi, which is very successfully used this tool for trading in the FOREX market. (general idea, see the "Tic-tac-toe once again in vogue in the number 15)


Eyb Kofnas:

Forex market is a rapidly growing market with the development of new lines - retailers with direct access - now in fact anyone in the world can trade in this market. The reason why we invited you to talk, due to the fact that the analysis of the schedule "tic-tac-toe" may be a useful analytical tool for trading in the foreign exchange market, and wrote a book on the diagrams tic-tac-toe, and called - "charting crosses -tack-toe, you could tell us about sveem look at the use of this tool in the foreign exchange market.



To get started, let's look at an example of graphics tic-tac-toe for the currency pair USDJPY:



Short position should be open in the first three-yacheechnom broadside with a protective stop-orderom a new peak - 132.58



Tom Dorsi: The trend is still ascending, but the last line "X" is more than 20 cells. In this case, we have opened a short position at the first broadside in the three cells with a stop on a new peak. This figure also signaled the sale and may be open short position in the deployment of an appropriate stop-order and a new peak.



The only problem is that the currency pair is still above trend line, and this, in general, can impede the opening short position. However, traders can sometimes deviate from the general rules and in this case, enter the short side.



Kofnas: Trader would open a short position, but must have been to place a stop order at 132.50?



Dorsi: Yes, which indicated a red arrow.



Kofnas: Now, let's be clear that the overall concept is to go in a short aside when the price is below the trend line, not above it. In the above graph, the market is so extended, that may well be wise to open a short position with a close stop order, but in fact it contradicts the basic rule for opening a short position. Therefore, the construction of trend lines is absolutely necessary.



Dorsi: Absolutely. Trend lines are very useful and necessary. The line on the graph tic-tac-toe should always be at an angle of 45 degrees for the bovine market and one for Bear.



Kofnas: What about the other indicators?



Dorsi: We use the index of the momentum created by us, which is just two sliding averages - one short and one long, and we observe that it moves above and below the long lines. However, this method is short, so I use only the schedule for tick-tack-toe in their trade. I am a position trader and will keep the position until you find that the situation has changed.


Kofnas: What kind of tactics you're using when you add positions?



Dorsi: We will normally begin, for example, with one lot. Then, as we get a further signal of purchase, we have to add lots and raise the stop order until the new sales generated signal. We analyze each transaction. Often have to derail a lot of stop-orders, to finally catch the trend. Unlike the stock market, there are only a few currency pairs, so you need to adhere to the program and continue to probe the market for search transactions.



Kofnas: Let's look at the schedule for the Japanese yen.



Figure 2. The signal at 117.25 purchase

Dorsi: This schedule would be a great deal when he reached base. This would be determined by the movement of 20 cells in one continuous direction. From this level to 20 or more cells down we can go a long way in the first broadside of the three cells in the deployment of stop-order at the new foundation. If the position will be closed to stop the order, the schedule will start to create a first signal from the base of the purchase, and this will be your next logical entry point. Because the schedule is the size of a turn in the three cells to change the column, the turn in three cells will be the first sign that shoppers again have the situation under control.



Kofnas: So, after a great column you can expect at least three cells and enters the fourth? This is the rule?



Dorsi: None. Point of action would have been spread in the three cells. Once the third cell, and has achieved a turn, begins operation. When the input made, immediately put a stop order. Let us go back to the original rule - go a long way only if the price is above trend line.



Kofnas: So, the currency trader will look at the trend lines, support and resistance, and must be capable of a technical discipline that is not normally associated with currency traders?



Dorsi: Yes. Currency traders are usually focused on the fundamental factors. In this case, the action takes place without the technical tools. The method should be logical, well-adjusted and based on the irrefutable law of supply and demand.



Kofnas: Let's look at the schedule for the Swiss franc to the size of a cell 25 points and the value of turn 2 cells.

Figure 3. The first signal is selling at 1.6825. Positions are added at each new breakthrough, where "0" is lower than the previous one.

Dorsi: Magnificent descending trend. The first signal to the sale of permits to enter the trend at 1.6825. Looks so that each subsequent sale of a signal added to one or more lots with the movement of stop-orders down to each subsequent sell signal.


This is an excellent example of how to use the trend of most of the building positions as the market moves in your direction. We could start with a lot, but now we will have four lots of stop order for all four lots at 1.6825.


If the market went down further to a new sell signal, we added a fifth lot and moved the stop-order for the double peak immediately below the level of 1.655. Let us consider that we have seven cells in the first column "0" gives the first signal to sell. Multiplying the size of seven cells in 25-point we obtain the expected reduction of 175 points. Subtract this value from the value of the vertices, which is 1.677, so the decline has already met the goal, but the position is still not closed and operating. Yes, it's a good deal. Now we multiply by two for the bottom side and three for the top.



Kofnas: Let's say we were at this point - 25 cells.



Dorsi: Good. Given that this was the first movement of the reasons we have, as you say, 25 cells. Multiplied by three and get 75, given the size of a cell that gives us the purpose of 1.709.



Now, to slow down or speed up the timetable, we can change the size of the cell. Sometimes we will use a standard cell size and reduce it to our points of stop orders.



Kofnas: Let's say, 25 cell size and magnitude of turn 2.



Dorsi: Good. Now we are turning into two cells, so we have to move to two, so get two, three, six, multiplied by the size of a cell and get the 1,651 goal. Look, that 1.64 is on the line? Schedule of tic-tac-toe is still a very viable approach. Traders trading on the forex market, should consider it more carefully, and if possible add it to your arsenal of technical analysis.

Gateway has released its latest range of entertainment notebooks that are known as the NV series, targeting power users who want the latest technologies in notebooks without breaking the bank. While summer’s just kicked in and nobody’s about to head off to school just yet, picking up the Gateway NV series notebook right now isn’t exactly a bad thing at all - after all, just how obsolete can a notebook get within a couple of months? Gateway touts that their new NV Series is more than ready to deliver multitasking performance which will handle popular everyday tasks with aplomb, offering a choice between Intel or AMD processors, depending on which side of the camp you’re on. In addition, prices start from netbook levels at just $499.99, helping those on a tight budget maximize their buck.

Avid movie buffs will definitely find the Gateway NV to be an ideal machine for watching their favorite shows on the go thanks to a 15.6″ High Definition LED-backlit TFT Widescreen display which offers a true cinematic viewing experience, courtesy of a resolution at 1,366 x 768 and a 16:9 aspect ratio. In addition, you also get to enjoy the notebook’s Dolby Sound Room that offers spectacular surround sound from the two integrated stereo speakers. For folks who prefer to output their content to the living room monstrous TV, the inclusion of an HDMI port helps deliver crisp high-quality visuals and high-fidelity audio through a convenient, single cable connection.

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HP is no stranger when it comes to releasing new computers, but this time round things are a little bit different. After all, they have just announced the availability of their highly sought after Six-Core AMD Opteron 2400 Series processor-powered line of HP Workstations, targeting businesses and homes that need all the processing power they need and then some. These high-end workstation machines are able to be in their element when handling applications within fields such as engineering, 3-D digital content creation, oil and gas, and science, where the HP xw9400 Workstation won’t stutter or freeze up courtesy of the power of the new AMD Opteron processors that were specially developed to offer higher productivity, especially for multi-threaded applications, multi-tasking and mega-tasking environments.

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When I was a kid, I had to do a self-portrait in the third grade. It wasn’t a pretty good likeness of me. If I wanted to do a self-portrait now, I’m certain it would be as good.

Perhaps this is why Jen Hui Liao invented a self-portrait machine. This device is designed to take a snapshot of the user, and then it will draw a picture of you.

You might wonder how this works. I’m not certain either, but if you thought that this device comes with some robot arm to draw for you, you’re half right. There is a robot arm, but the user actually handcuffs his or her wrist to it. You might want to check out the YouTube video after the jump to see it in action.

From there, the user just sits and watches as his or her likeness as it is made on paper. My source is somewhat negative on this device, saying that it is a robot who is making us to the work. I suppose this is bringing about our dystopian visions of a machine-dominated future, but let me put a positive spin on this.

I don’t know how to draw myself, much less anything else. If I could have a machine do it for me, I suppose that works. After all, we have machines do a lot of hard work for us these days.

So, why not have a machine do it for us? I suppose that passing a machine’s work off as ours, calling it a self-portrait, is nigh cheating. I wonder if I’m the first tech blogger to bring that up.

Now this is a gadget that keeps things nice and simple. If you for some reason don’t have a sound card, it still allows for you to listen to your music. It has a built-in sound card along with a tiny speaker. It’s not going to have fantastic sound, but when you don’t have a sound card, things can get fairly desperate. This would be a nice and affordable temporary fix for the issue. That or if you’re not really worried about it, it could be a permanent fix.

The little ball speakers come in 4 different colors, blue, orange, pink and finally white. With that selection it’d be easy for just about anyone to find a color they’d enjoy. The speaker itself comes on a flexible cord, so you can adjust it to get it to the most convenient position. The USB speaker can be purchased for $19 from Gadget4all. Which really isn’t a bad price, even if it has only mediocre sound quality.

Source:www.coolest-gadgets.com

Have designers run out of ways to make the USB flash drive a desirable piece of peripheral for your computer? Well, apparently not. Remember those rendered cigars of Sarge in Quake III and the cut-scene in Star Craft? Well, here’s something that will definitely make your desktop much cooler sans smoke - the USB Cigar flash memory. It won’t harm your lungs one bit, and will actually glow red when connected, getting brighter whenever you access it. Woe to you if someone uninformed stumbles into the room when you’re not around only to panic and splash water on your computer for mistaking it for an actual, burning cigar that has been left unattended.

Source:www.coolest-gadgets.com

Seeing a USB powered light is nothing new, you could easily find one in pretty much any shape or size. What’s odd about this one is that it uses an actual light bulb. It actually claims to be the world’s first USB powered light that utilizes a light bulb. Typically a USB light has an LED light, which works just as well. However, if you’re tired of everything being LED, this would be a refreshing change.

The overall appearance of the light is pretty minimal and it definitely puts on display that it’s using a real light bulb. It’s on a cable that allows you to bend and shape exactly how you want the light to sit. Unfortunately it is a Japan product from the company JTT. Which means it will be hard to get your hands on if you’re outside of Japan. Which if you’re reading this, it’s highly likely that you aren’t in Japan. Within Japan the light is priced at 1280 Yen, which converts into about $15.

Source:www.coolest-gadgets.com

As in many other markets, technical analysis has become very popular in the foreign exchange market. At the core of its popularity is huge liquidity created by the market and around-the-clock trade 1.4 trillion. $ Daily amount. A lot of participants and a significant amount of money that passes through the market every day, implies that market-based instruments, namely the currency pairs, rarely spend too much time in a narrow trading ranges and have a tendency to develop strong trends. In addition, more than 80% of the volume is speculative in nature and, as a result, the market often reaches extreme levels, and then adjusted. New trends and possible breakthroughs occur frequently, and provide multiple opportunities for the technically educated traders to enter and exit positions. Opportunities are not limited to trade on the trend, as well as quite often there are opportunities for trade in the range, allowing traders to effectively sell to the top of the grounds and bands.


In this article we wish to consider one based on the technology strategy that works particularly well in the foreign exchange market. The proposed strategy is based on the trade to intra-day trend and prednazna Chen to capture the counter-trend movement of the round values to the currency market known as "figures". This strategy involves an attempt to take advantage of the tendency of many market participants to place orders at or near the big round numbers.


The natural psychological tendency to make round numbers especially attractive to speculators, while the larger players, or a corporation that is involved in trade in the currency market for the purpose of hedging, may prefer to round numbers for the purpose of convenience of calculation. Irrespective of this, short-term counter-trend movement of round numbers occur frequently. Here are the rules for this strategy:


Long position:

• determined by the location of the currency pair that is trading significantly below its intra-day 20-periodnoy simple moving average. It may be 5 -, 10 - or 15-minute schedule.
• a long position when the currency pair is on a few points below the figure.
• hosted an initial protective stop order is not more than 15 points lower input prices.
• when the position becomes profitable on the initial risk, rose half position, while the remaining part of the position of the stop order is moved to break-even level. The freeze order is moved, as the price moves in your favor.


Short positions:

• determined by the location of the currency pair, which has traded above its intra-day 20-periodnoy simple moving average. It may be 5 -, 10 - or 15-minute schedule.
• a short position when the currency pair is on a few points above the figure.
• hosted an initial protective stop order is not more than 15 points higher input prices.
• when the position becomes profitable on the initial risk, rose half position, while the remaining part of the position of the stop order is moved to break-even level. The freeze order is moved, as the price moves in your favor.


This strategy essentially puts you on the same side, where the inter-bank players with access to the flow of orders. The strategy has a greater chance of success, when another important level of support or resistance, such as simple moving averages, Fibonacci levels, or bands Bollindzhera, converge just to the figure.


24-hour nature of the market, which is unique for currency trading, provides an additional advantage for the technical traders. Experienced traders know that at certain times of the day, some currency pairs have a higher probability of trading in a range or a high probability that the break from the intra-day consolidation. For example, the British pound tends to be traded more actively in the European and the London trading session, but kept in a narrow trading range during the Asian and U.S. sessions. Typical intra-day trading strategy for the British pound in this case should be associated with the deployment orders for a breakthrough within days of consolidation before the opening of the London session.


Transparency and the characteristics of round-the-clock trading of foreign exchange market make it particularly contributes to the trade policies based on technical analysis. Technical analysis is very popular in the foreign exchange market and is used across the spectrum of participants, from hedge funds to the intra-day traders.

I used to think only price bars could predict the future. I started as a novice, experimenting with every indicator in the book. I could never get the markets to match my mathematics, so I finally gave up and became a pattern reader. In fact, my early writings are so pattern-centric they appear intolerant of all other trading techniques.

I've had a change of heart in recent years because of a tool that's saved my neck on a ton of trades -- the overused and underappreciated stochastics.

What exactly is the stochastics oscillator? It may seem like a simple question, but the answer isn't. The term describes a mathematical process that has an infinite progression of random variables. Let's dumb it down a bit. Stochastics measures how a market closes each price bar relative to its range over time.

This is urgent information for all types of traders. Scalpers use it to read the tempo as money flows through their one-minute charts. Investors use it to identify cycles as weekly stochastics alter the balance of power. But this valuable tool won't give up its secrets easily, and it requires thoughtful interpretation.

The settings you choose don't matter because stochastics print valid patterns with any set of inputs. Different settings will emit different levels of "noise" in the subsequent output. For example, notice how the five-, 13- and 21-day settings on the PetsMart chart affect crossovers at key turning points.

The approach here is to match your inputs with your trading style. For example, daytraders capitalize on subtle shifts in market direction and will benefit from short-term settings. On the other hand, long-term settings help position traders avoid false signals.

Many traders get fooled when stochastics flip to an extreme because they look for a reversal instead of trend continuation. Ironically, the most dynamic price movement often takes place right after these levels are breached. So how do you avoid bad signals and use stochastics for its intended purpose? Look at the unique patterns.

The stochastics middle ground tells you the trend is your friend. Watch when the fast line pulls away from the slow line in this zone. This reveals increasing momentum in the direction of the short-term trend.

How can you use this information? Look to buy on the dip (rising) or sell on the bounce (falling) as long as the indicator doesn't roll over. One effective variation of this pattern is a 1-2-3 move where the indicator thrusts out of one extreme, pulls back a little and then thrusts again.

Take advantage of the price surge when stochastics break into an overbought or oversold level. Watch for the fast line to thrust away from the slow line right here. This tiny signal often corresponds with a final burst of buying or selling before a market reverses or goes flat. It corresponds with the profitable fifth wave parabola in Elliott Wave Theory.

Stand aside when stochastics flatline across the top or bottom of the indicator plot, but act quickly when they start breaking in the other direction. This Mesa reversal signal is often timed perfectly with the break of a key support or resistance level. One problem is you can't tell how far a move might carry from the indicator alone. Look at the price pattern to find natural targets for the subsequent swing.

My favorite oscillator patterns are double-tops and double-bottoms. As with price bars, I look for a lower second high to signal a top, and a higher second low to signal a bottom.

Be patient when this pattern develops and let the lines drop away from extreme levels to confirm the signal. This pattern is similar to the Mesa reversal described above, but with one key difference -- it often triggers more follow-through on the subsequent pivot because it reflects more underlying divergence.

Ally in PC Gadgets, USB Gadgets

This September Sony's DVDirect VRD-MC6 will be released, an upgrade from the previous VRD-MC5, that will allow users to record high-def and standard-def videos, as well as digital photos from cameras directly onto DVD. The device means that users can do this all without a PC connection.

In terms of form factor, the VRD-MC6 is roughly 60% smaller than the MC5, but has a 2.7-inch display as opposed to the old 2.5-inch version. The display can be used to preview videos and up to 6 JPEG files at a time. Carrying on with JPEG files, those stored on Memory Sticks, SDHC, xD, USB drives, Sony camcorders and digital photos, can all be written to DVD with the MC6 regularly or in slideshow format. Photos can also be used to create menu screens for video discs or users can choose from four preset backgrounds.

Sony Handycam camcorders with built-in hard drives or Memory Sticks can also transfer 1080i video to DVD or alternatively in AVCHD format. This allows users to playback video on Blu-ray players or Playstation 3 game consoles. Standard-def video can be recorded from other camcorders, DVRs and even VCRs via FireWire, composite and USB connections. The unit also maintains Dolby Digital 5.1 surround sound and aspect ratios.

Keep your eyes open at the end of summer for the DVDirect VRD-MC6 when it ships for $229.

Source:www.coolest-gadgets.com

I was a professional trader for 23 years and quite confident that my experience in this business consistent with the experience of many, if not all professional traders. I have experienced and the successes and failures and the times of satisfaction and frustration. Like others, I had to develop and grow as the markets and market-based instruments have changed over time. Markets constantly forced me to re-affirm their values and reflect their own self-motivation, and even after all these years, I have been forced to confront the fears and doubts.



Fortunately, I am equipped with the knowledge of how powerful is the positive thinking and the ability to apply this tool in their daily practice.



When the markets closed, I share his time equally among the preparations for the next day, market research and work on his morale. Part of that involves reading a few paragraphs of motivational books every night, studying sports psychology, or impact on the physical aspects, such as exercise, diet and food that support my ability to focus and concentrate during the day.



Unfortunately, I can not say that was the point or moment when I felt as if I had reached perfection. However, most often than not, I feel as if I did not even come close to reaching that point. I accept the fact that this business was nothing but a continuous process, which will be launched once like many other efforts in life. For me, the term «trader» became a synonym for «lifestyle».



I realized that everything I do with my way of life to support the function of «trader», equally supports me very. Most of this is aimed at removing the stress, anxiety and peregoraniya. I have experienced them many times in his career, and each time it is reflected in the performance of my trade. My experience is not a hard life so different from that experienced by many people - death, divorce, and taxes. I zhongliruyu many balls at once. I sell, manage their businesses, responsible for ten employees and one children. I accept the responsibilities of the heads of the household, and I serve a great property. In addition, I have other interests and hobbies.



Stay in the game, defeated the stress



I would like to say that I am very rational people, but it is not. I pull rubber and delay things for later. However, I became a master of stress and anxiety and how to be with the mental side of trade. I imagine that if I can take care of this specific area, the results will be achieved automatically. It worked for me over the years and allowed me to stay in the game.



So, let me share a few things from my personal experiences, traditions and rituals, in order to manage some of the most important psychological aspects of trading. Sometimes, traders may feel alone in their experiences - especially when there are stupid mistakes and big losses, and over long periods of low activity. Believe me, I make every mistake described in the textbook, has suffered for many sleepless nights and talked with more experienced traders. Having gone through all this, I never wanted to leave this business. I do not like to sell, and I do not hate trade - this is just what I do. I love to work.



Some people are lucky, just find your game, and I am one of those people. I know the style of trading, with whom I feel comfortable. I never will be a long-term player, following the trend, and never will be one of those who are easily interpreted by fundamental factors, or long-term fundamental changes in the trend at the macro level. I never would feel comfortable selling to a strictly mechanical system. And I do not want to trade in ways that are totally dependent on my reflexes. Remember that a trader can not begin to improve their game, yet he is not precisely define, in what game he plays. At this stage of my career, I know their abilities, their strengths and weaknesses. I try to exploit their strengths rather than to become someone whom I never shall. This is something that you should try to develop in themselves. Know yourself.



Positive attitude



So, know your game is useful, but only knowledge of his game does not mean that I preuspeyu this. There are many things that needed to be done outside of market hours in order to succeed in the trade. I can go through the stages of preparation, organization and vnerynochnogo study. But I did not think that these are the things that guarantee success. Of great importance to me is the fact that I believe in what I preuspeyu. I will configure itself each day at the confidence that I preuspeyu, especially during periods when the inevitable doubts creep. A positive mental attitude is a form of religion for me.



Doubts kill success



If the trader has a positive attitude, it allows him to believe that focusing on the process, the results will be achieved by themselves. This involves an element of trust. Sometimes it's like to jump into the water from the tower - dive knowing that if we are to carry out a form, then we have to enter the water and show beautifully executed jump. Some people may be difficult to accept that if all of a sudden, my form is not completed accurately, you can get injured during the impact on the water. If doubts or negative thoughts invade my head when I «dive with the tower», I am doomed. I have so many tricks to eliminate negative self-attitude that positive thinking is just a habit.



Conversation with myself - this way, when we speak directly with one another, and sometimes negative thoughts are weakly perceptible. For example, if a trader says to himself, «I must succeed» or «I have to do a certain amount of dollars this month», then this type of thinking automatically creates tension and anxiety. Anxiety is an emotional decision-making at the time of trade. Emotions invariably lead to a losing transaction.



The first step - understanding



Removal of negative thoughts - it is a process. First, you must understand, when you think negatively, and to recognize that you can reorient their thinking pattern. Simple perefrazirovanie your mental model of «I must succeed» model «I can succeed» is a step in the right direction. The first sentence establishes the requirement for performance, while the second sentence underlines the confidence in your abilities. Second, suspend the negative thoughts, changing your physical state. Hlopnite's hands, push your fingers, or stand up from his chair. Third, reorienting their thinking on a running process to replace the excitement, the doubt or concern. «I can trust myself to make the right decision today», «I can use the emerging opportunities in their own interests, as they open during the trading day».



These processes seem to be quite simple, perhaps even intuitive, but they are likely not as intuitive as might be assumed. Positive thinking - this is something that requires training.



It is hard to overestimate how important was the positive thinking in my own trading career. This enabled me to overcome every setback, which happened in the market and convert it to get experience. I tell myself that all that neither happens, happens for some reason. Therefore, I must find a way to convert it, just as in sport. Look at tennis player who is losing the band during the competition and lost six games in succession. The situation looks rather bleak for the visitors. However, the player can make a breakthrough victory. And sometimes his opponent makes stupid mistakes. Top athletes have captured a small victory, and convert that momentum in their favor. This also happens on the sports team competitions such as football or volleyball, where one goal of providing a new impetus to the explosion, which has a playback command to victory.



The positive point of view



Trade, in this sense, is no different from sports. Convert negative experiences into positive and look for a way to learn from them. For every mistake that I make, I say to myself - well, that it happened now and I am thus able to learn it, but did not take place, when I traded a greater position in the future. I thank the market for drawing my attention to any of my weaknesses, so that I can learn and improve it. If market conditions have changed or ceased to market environment conducive to my game, I tell myself that I was given a great opportunity to do research and find new methods. All my best research occurred after the recession.



There is an excellent line of «hard work» and peregoraniem. I took the difficult path to set boundaries and define its limits. In the past I did not want to admit that I have any limits, and as a result had his immune system to danger. Better to recognize when it is time to stop a bit, rather than wait for the deterioration of health, or face big losses in trading.



Most traders know when they make mistakes. But when a trader peregorit, he was not able to respond adequately to correct the error. As if the inner voice said - «This loss is going to become so big that it will force you to relax from the market».



In addition to the physical signs that may indicate peregoranie, other signs include increased irritability and anxiety, forgetfulness and inability to concentrate. Traders who are more likely to be taking a big risk when peregorit. The delay, fatigue, a disregard for proper performance of pre-trade or inattentively relevant to the current position is often the next step. When someone peregorel, it is likely to increase the consumption of coffee, water or alcohol. Ultimately, peregoranie can lead to thoughts about «discarding towels» - leaving the business altogether or chronic depression.



Practice common sense



The main strategy to avoid peregoraniya is to lead a healthy and balanced lifestyle. This may include daily exercise, healthy food, hobby or outside activity, periodic vacations or even taking one day at the weekend to go to nature and enjoy the changing environment.



Educational strategies include visits Kurova or seminars, joining professional organizations, reading catalogs, or books on sports psychology and motivational subjects.



Sometimes changing the working environment - something simple, such as changes in the office - can make a novelty. Finally, it is very important is some kind of support system - a close friend, fellow-trader, or someone else who you can trust. Every time I have difficult periods, I have a sense of relief after the discussion, the trustee of my situation with a friend or friend-trader. In the end, we all have a similar experience in a particular case. Losses and errors are part of the game. Talk about them with other people helps us to move our normal human weakness due to the distance and allows us to move forward.



Three «R»



Let me introduce you to three «R», which I use to maintain their morale and the preservation of: Record Report (record), rituals (rituals), and a study (research).



Record Report is a starting point that leads the trader to the level where the trade is simply «hobby» to the next step «professional» status. At the end of each day, I record the statistics, like the range of market volume, value indicators and the ratio of supply / demand, to select some of them. I did it the first day, when I started trading. Once I updated graphics manually every night, because there was no graphics program, which we use now. During the past 15 years, I have to manually record closing price of 25 different markets, in addition to the values of the momentum and some other notes. If I did not record data at night market, I also do not sell the next day.



During the day, each transaction is recorded along with the number of orders, time and cost performance, along with the name of the broker, have fulfilled the order. This is to resolve any problems the next day and, ultimately, could save a lot of time, when in fact there is an error. I also write down your daily deposit available for trade, along with the current open positions.



With the use of electronic platforms, has never taken as obvious that the transaction will be properly reflected on the following day. The platform that I use, keeps an accurate record of all transactions that I make, so I did not actually write them, but instead to keep the registration file.



Compared with many other types of business, trade and markets may seem somewhat abstract arena. Actions such as the recording report helps me feel more productive and controlling your business. I do not teach statistics on the trade - Statistics on implementation of trade, such as the ratio of the winning and losing deals, the average gain and average loss. I believe that this will become a source of anxiety or stress for me. Instead, I have control over their assets of the curve and I do it monthly, not daily. Why? - Sometimes it's easy to perevozbuditsya, looking for profits after a large premium of the day. Big wins can have the same effect on the psychological state as well as heavy losses.



Traditions and rituals are an excellent tool to address the emotions, particularly the doubts, fear and anxiety. Although I personally do not have any special rituals that I could share with you, I believe that the maintenance of records is particularly useful for me. I will write a plan for the next trading day after the closing of each day. During the trading day, I will briefly record maximum and minimum fluctuations, as they are during the day. Many years ago, when I started trading in the exchange hall, I watched as many of the best traders diagram graphics «tic-tac-toe» or graphics fluctuations hand, during the trading day.



Physical and mental rituals - is key to building both confidence and consistency. I can not overemphasize the importance of this aspect in my own business. This is not only the ability to concentrate, but also the focus of our concentration. If you focus on the wrong things, it leads to a negative result. Most of what I do during the day - a simple observation. But I have very specific traditions and rituals of what things and how I see during the day.



At first, I concentrated on watching only a few ratios. Although I have built their capacity to handle large amount of information, I can still «boil brains» like any other. If I try to do too much or sell too many markets at once, I can get into a nasty situation. I have certain times of the day, when I draw attention to some relations. I have a limited range of market instruments, which I watch. I have three basic models, which I watch on the currency markets. In this regard, I am a reader of classical data waiting for their specific technical requirements or market conditions. This is my market tradition. You may have others that are more suited to you.



Outside the market raporyadka have privacy mode. For example, I try to get up every morning at the same time, take their nutritional supplements and have the same breakfast. This helps me «to enter the zone» or «to be on autopilot» before the opening of markets. These mental and physical traditions help me maintain my concentration and let me be distracted by other things. If the concentration is broken during the day, it's easy to become vulnerable. I always take action against external distraction and keep the philosophy that if something can be done at the end of the day, you will need to wait until then.



However, unexpected things will always happen during the day with all traders, regardless of how he may try to insulate themselves from the «noise». Once, a neighbor decided to move a little bit of huge trees in front of his house. Giant excavator royuschy for the pit, stretched all the telephone cables in the neighborhood, including our T1s. It took 24 hours to correct the damage. Such things always happen with every one of us whenever you have the most open position.



In addition, I believe that my record of data at the end of each day will be just another significant ritual to help me forget about any adverse events that occurred during the day, whether it is a violation of the telephone line, or what some problems in the family.



Third «R» - study



The study is an integral part of my business, and as for the trader, this should be an important part of your. The study - a process that never ends. I am absolutely confident that if I do my own research, I will always have an advantage over those who had not.



The study is important, even if the trader has a successful method of trading. Anyone who has been on the market for some time, witness the fact that market relationships are often altered. Thus, the study gives me confidence that there is merit in my approach to trade. I constantly improve their study in order to maintain this confidence at a high level. Study constantly reminds me that trade is a game of probability and the mean values, and shows all the ways in which the signal or the model may fail.



Please note that the study should never be done to confirm their prejudices. This type of research too often leads to conclusions based on a limited number of examples, and generally disrupted over time. I attach very little value to the study, conducted at less than 200, the number of examples.



Encourage yourself



Every day that I sell, I constantly remind myself of how far I have progressed. That would be so easy for me to evaluate my own work alone every day. Instead, I single out the area where I moved. Yes, «Old Dogs» should explore new tricks. I see how to improve my skills in the use of electronic trading platforms. For many years, I just dial a phone number, and to make reservations. The first two years, when we began using an electronic platform, I simply could not operate profitably with it. My brain could not take the extra steps required for placing orders. The only way that I could sell was that it had to be someone else in my office who could be executed, while I call warrants. I felt rather foolish inability to fulfill their own orders. I have tried many different trading platforms before you find one, which I feel comfortable. There was some learning involved in understanding this.



Keep your brain in the game



Trading really is no different from most sports. I just try to mentally stay in the game. I know that my involuntary error decreases as the market, my training and level of experience increases. I transform the emotions or disorders in the study or the best marketing training. I know your game and work hard to eliminate less profitable deals. I know that the concentration of the process would ensure that the results will be achieved automatically. And finally, no matter how many hours a week I am going to work - 40, 70 or 100 hours - I will not be successful if I do not believe in their ability to be successful. Positive thinking, combined with hard work and proven traditions, will always win over the doubt, fear, internal stress and other negative psychological aspects of trading.


Linda Bradford Raška
www.lbrgroup.com

The development of trading strategies



. sometimes require several years to acknowledge the obvious.

. easier than it looks, the more problems it hides.



Trade Execution


. if there is a possibility that something goes wrong, it would necessarily happen.

. you will never provide all the things that can go wrong.

. the less you do, the less can go wrong.

. You should always assume that your assumption is invalid.

. You never know how soon it will be too late.

. when things go wrong, do not go with them.

. If you are in a hole, stop digging.



Follow the trading strategy


. be punctual means only that your mistake will be made on time.

. to learn from their mistakes, you must understand that making mistakes.

. experience is to make new mistakes instead of old ones.

. best defense against logic - ignorance.

. If you enjoy what was being done, then you probably are wrong.


Financial sites

. If you do not know the answer, then someone will ask this question.

. never be too wrong too often.

. only changes that are easy to adopt - changes for the worse.

. the less you have to do, the slower you do it.

. always do exactly what your boss would do if he knew what he was saying.

. E-mail will never come when you have nothing to do.

. the less you say, those from smaller, you will deny.


Forex Magazine
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