Saturday, March 03, 2007

If you have to look, it isn’t there.

Everyone is looking for the perfect system. How can we have a perfect system when we are living in an imperfect world? No point looking for the Holy Grail; it just isn’t there.

Stock market wisdom is the key to success. Don’t confuse wisdom with knowledge. Of what use is the computer without the software? You need wisdom to implement your knowledge correctly.

How much you put on a trade will affect the outcome. If you overtrade, you become overly concerned when there is slight drop. This may lead you to all kinds of wrong decisions. We want to be comfortable to win. Never play with borrowed money as this will make you feel very uncomfortable.

Investing is the secondary school; trading is the university. The problem is that people want to go into the university without completing their secondary schooling.

When you sit down for a game of poker, you must know who is going to be the contributor to the others’ holiday funds. If you don’t, that person is you.

Self discipline begins with the mastery of your thoughts. If you don’t control what you think, you can’t control what you do. Simply, self-discipline enables you to think first & act afterward........Napoleon Hill.