Jumat, 25 April 2014

Boris's Weekly - What Warren Buffett Does That You Don't

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Thoughts on Trading 
What Warren Buffett Does That You Don't      


The longer I live on this planet the more I come to realise that 99% of our misery stems from the 1% of a-holes in our life. In fact the single greatest path to happiness is to simply avoid contact toxic people. Eliminate the rancor and you will be healthier and happier by a wide margin. As the saying goes the best way to avoid a fight is not to have one.

 

I think the question of our environment is more than just an academic exercise for us traders. Trading at it core is a highly psychological activity. That's why any disturbance to our psyche -- be it a fight with a loved one, a nasty illness, horrid family news -- almost always results in disastrous trading.

 

This is a tough lesson to learn, especially for those of us A personality types who have never met a challenge or an argument that that they didn't like. We love to fight, we love to take the world head on and we love to think that we are "mentally tough" to face any problem. In the real world those attributes can be of great help. In trading such attitude is often a major hindrance.

 

Just as I learned that you never fight the market if you want to win, I also learned that you never trade angry or hurt. Trading is such a delicate activity and rife with so many bad judgement calls that it requires a clear mind and a calm environment if you ever want the chance to succeed.

 

Take a look a Warren Buffett. Here is a man who is considered to be one of the greatest investors alive. He could live anywhere he wants and have access to the most up to date information and the most sophisticated software to analyze it. Yet he chooses to live in the middle of nowhere -- in Omaha Nebraska -- in the same modest house that he has lived in since the 1950's. Why? Because there he is undisturbed. He can read and think in peace and therefore make clear headed, intelligent decisions in the calm and comfort of a familiar environment.

 

So if you want to trade like Warren Buffet, try to achieve his state of serenity. Create a pleasant environment to trade and most importantly delete anyone who annoys you from your life.


    

 

 

Forex Weekly Techs Where Are The Trades?  04.28-5.02.2014
Forex Weekly Techs Where Are The Trades? 04.28-5.02.2014

    

Sincerely,
 

BSignature

Boris Schlossberg and Kathy Lien
BKForex.com

Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.

 

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