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Dump it Here

Discussion in 'Beginner's Lounge' started by Skate, Dec 17, 2018.

  1. Skate

    Skate

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    @tech/a they say "money doesn't buy you happiness" but it sure keeps my kids close.

    Skate.
     
  2. Skate

    Skate

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    @tech/a I've rubbed shoulders with some really wealthy people & money is not the main motivator, they use it as a score card.

    Skate.
     
  3. Skate

    Skate

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    Albert Einstein speaking about a powerful force
    Albert Einstein once joked that the most powerful force in the universe is neither mass nor energy. It's compound interest, which is what happens when you earn interest on your money and on the interest that it's already earned. While some investments have compounding built in, others don't automatically do it.

    Skate.
     
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  4. Skate

    Skate

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    @Value Collector video - the presenter infers that there’s "No Time Like Today" to start making compounding work for you..

    “The best time to plant a tree was 20 years ago. The second best time is now.” — Chinese proverb

    Meaning, it isn’t too late to start..

    Skate
     
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  5. Skate

    Skate

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    @mcgrath111 as usual you nailed it perfectly..

    Underestimate
    Market participants tend to underestimate the importance of their emotions when making market decisions. If you have a totally mechanical or mathematical approach to the market, you don’t have to worry too much about pesky emotions. But they are still there in some degree.

    Skate
     
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  6. tech/a

    tech/a No Ordinary Duck

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    Being free from financial shackles (being financially secure) sure helps the happiness factor.
    By either embracing or NEVER embracing the money trap.
    You should reside at either end you should avoid the middle (Class).

    Initially money can be a motivator.
    Eventually it becomes a consequence.
    Hardly ever discussed or mentioned.

    Its only discussed when you want it or
    haven't got it (Financial freedom).
     
  7. Skate

    Skate

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    @mcgrath111 I use a mechanical weekly trend trading strategy, a mechanical trading system, keeping me away from making any emotional decisions.

    I am a strong believer of the 50/50/80 rule, meaning when you are confronted with a 50/50 choice you will certainly always be wrong 80% of the time.

    Image This
    Could you imagine leaving a trading decision in my hands ?

    Skate.
     
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  8. Skate

    Skate

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    @tech/a I want to endorse every word you posted & take the liberty to add a few more words..

    Financial independence
    Happiness is really about is creating an extraordinary quality of life—life on our terms.
    Money and financial independence can have a significant effect on everything from our psychology, to our health, to our relationships.
    But it’s important to remember that it’s impossible to live an extraordinary life if you don’t also master the game of relationships, the game of fulfillment, and the game of health.

    Skate
     
  9. Skate

    Skate

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    I want to apologise

    Apology to all members
    I don't proof read before I post - I know if I get most of the post correct, whats not I'm sure members will work it out.

    Why don't I proof read
    "Ain't Nobody Got Time for That"

    Its much better expressed by Ms Sweet Brown - who would of 'thunk' you could make a ton of money from this ?





    Skate.
     
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  10. Skate

    Skate

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    I'm asking for help

    This thread is designed to be different a place to dump helpful information that may help other traders but the thread lacks traction.

    Reasons
    1. The content is not interesting
    2. The content has no perceived value
    3. The 'Thread Title' is just plain wrong

    The BIGGEST Prize ever has been offered here on ASF - The competition is a thread name change

    I'm reaching out for a name change. I'm prepared to do most things if it's for the betterment of other members. (I've been told to ease up on posting, even though its been hard - I've done my best to comply)

    I can't accept item #1 or #2 to be the reason for the lack of traction

    #3
    It must be item #3

    The members below listed below in "alphabetical order" have been referenced in this thread so I'm asking for help with a name change for the thread.

    If that's not possible something better still - post some gems that you hold related to trading or investing that will help others ?

    Every member listed below has something of value to offer - just have a look at the impressive list.

    @Ann
    @barney
    @bigdog
    @captain black
    @Commons
    @cynic
    @Darc Knight
    @explod
    @Garpal Gumnut
    @greggles
    @Gringotts Bank
    @jbocker
    @Joe Blow
    @kid hustlr
    @luutzu
    @mcgrath111
    @myrtie100
    @qldfrog
    @Sdajii
    @Smurf1976
    @sptrawler
    @tech/a
    @Tink
    @Trav.
    @Value Collector
    @Wyatt

    Skate.
     
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  11. Skate

    Skate

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    Tag

    @Joe Blow - how did I ever miss this..

    My apologies for missing an important tag
    @Joe Blow - Be kind and respectful to others at all times and help them if you can.

    Skate.
     
  12. Skate

    Skate

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    A response to a reader

    Background

    I've written 3 religious books referencing 'The Bible'

    1. Translation of the Old Testament
    2. Translation of the New Testament

    The third book is about the 'The Bible & a Bit More' (6 1/2 years 14 hour days research - I was retired & plenty of time)

    Generic answers

    "All religions create their own Gods because they are seeking to explain what they do not know"

    "God didn't make man in HIS image - but - Man made God in OUR image is closer to the truth"

    Summary of the Bible (if interested)

    1. The Old Testament - "Do unto others as you want done unto you" - the rest of The Old Testament is filler.
    2. The New Testament - The 11th Commandment - Jesus said "This is my commandment, that ye love one another, as I have loved you" (John 15:12) and the rest of The New Testament is filler.

    Why reference 'The Bible' in a trading thread ?

    1. The summary #2 sums up the tag of @Joe Blow
    2. I personally trade a large account (well to me it is) and like most traders I pray a lot

    I just had an idea
    I should post about grief and the stages of grief & relate it to trading

    Skate
     
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  13. Skate

    Skate

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    Grief

    When investors have large unrealized losses in a poor market environment, this can greatly impair their objectivity. They struggle to reassure themselves about why they bought a particular stock. They can bring themselves to admit defeat only when the final stage of grief kicks in ‘Acceptance’ and sell only when the losses are so big they can’t bear to take the pain any longer.

    Skate.
     
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  14. Skate

    Skate

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    On Mourning and the Market

    A useful application of psychological principles to the stock market is to consider major changes in the trend of the market in the context of the emotions that someone goes through when mourning a loss.

    In other words, what do investors think and feel when a steadily rising market suddenly starts to die?

    In 1969, Dr. Elisabeth Kubler-Ross wrote On Death and Dying, which set forth the five stages of mourning that individuals go through when confronted with a loss:

    1. Denial
    2. Anger
    3. Bargaining
    4. Depression
    5. Acceptance

    When the market undergoes a breakdown, many market participants go through this same series of emotions. At first, when the market shows signs of weakening, widespread denial occurs.

    Market participants simply ignore the possibility that the status quo could possibly change. When the weakness persists, the feeling shifts to anger.

    Individuals are mad at themselves for not taking action sooner to prevent losses, and they become mad at those who warned them of the developing problems.

    The next phase is where we start making deals with ourselves. “If the market will just hold steady or bounce back a little, I will quit fighting and shift my thinking” is something I have found myself saying to myself on occasion.

    When that doesn’t work and the market continues to do something other than what we hoped, we become depressed and feel hopeless: “I really messed up. Now there’s no chance I can make any money.”

    Skate.
     
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  15. Skate

    Skate

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    @So_Cynical will a pep talk help ?

    Patience

    You need to have patience, discipline and realise drawdowns and losses are part of the trading process, so take it on the chin, be the ‘best loser’ you can possible be.

    Skate.
     
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  16. Skate

    Skate

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    General advice

    You also need to understand your own psychology, where you are mentally strong and weak and how you will deal with the stressful situations, the roller coaster of emotions, particularly fear and greed will decide your trading fate.

    Skate.
     
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  17. Skate

    Skate

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    TAG

    My apologies are in order once again - what a great tag..

    @CanOz - Life is a magnificent, exhilarating show, its a pity that those of us born into freedom and democracy don't realise it until the last act...

    Skate.
     
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  18. sptrawler

    sptrawler

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    Skate a lot of investment boils back to personality, a friend of mine is a great believer in the market and has been all in for 10 years.
    I'm much more conservative and always carry enough cash, to be able to afford to lose everything in the market.
    ATM he is braking out in hives, I'm enjoying Chrismas.
    Like I said it boils back to personalities, you still have to be able to sleep at night.
    Having said that, my new year resolution is to become more proactive, and that is due to your thread.
    So thankyou, it has been a great Xmas present.
     
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  19. Skate

    Skate

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    There will be no more apologies for missing great TAGS

    Sorry
    Instead I would like to sorry to two great ASF members who both have great tags..

    @barney - Don't bite the hand that feeds you ... and don't bite off more than you can chew!
    @fiftyeight - The speculator's deadly enemies are: Ignorance, greed, fear and hope.

    Skate.
     
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  20. Skate

    Skate

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    @sptrawler I'm so happy that you have been motivated by my thread.

    Let me quote an old saying "your kind words warms the cockles of my heart"

    Skate.
     
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