Don't throw that coffee cup at your screen, I'm only being honest. Do some people get rich trading?...Absolutely.
Here is something a little different this week. It is still investment related and I venture to suggest that it may be something that will surprise and even shock you. Particularly if you have investments within an offshore fund which makes investments into the UK or perhaps work for an offshore fund! Long story […]
Spain……officially know as the Kingdom of Spain, is the second largest country by size and the 4th largest economy within the European Union. Its 46m population reside within 17 “autonomous regions,” including two archipelagos, the Balearic Islands and the Canary Islands, with Madrid being its capital city. Spain suffered badly following the financial crisis with […]
The cross-winds are swirling in respect of the Oil price, as confusion reigns. In the words of a typical economist, “on the one hand,” OPEC appear likely to renew their recent production cuts, in particular from Saudi Arabia and Russia who are desperate for higher prices, whilst “on the other hand” is the new swing […]
“Bread and circuses” was how the government kept the Roman populace happy by distributing free food and staging huge spectacles, whereas today’s equivalent is the welfare state and to bomb someone as a means of distraction during problematic periods. Well, stock-markets took a hit this week, following the release of a memo by former FBI […]
Impeachment…..Is defined as a charge of misconduct made against the holder of a public office and they do not get any higher in the United States of America than the office of The President. The airwaves and financial talk-shops are abuzz today following the allegation that President “the Donald” Trump asked the former FBI Director […]
When Harold Wilson commenced his first stint as the British Labour Party Prime Minister in 1964, he inherited an unusually large external deficit on the balance of trade from the Conservative administration and despite fighting the markets for a couple of years, the inevitable devaluation of the £GBP came in 1967, when Wilson famously assured […]
“793”…… Global merger and acquisition (M&A) deals have been completed this year as of the end of April 2017, according to “dialogic” who collates the data involving publicly traded corporations. This is 20% lower than the comparable period of 2016 and is the lowest number since 1998, which given that stock and bond markets are […]
French voters face a stark choice in Sunday’s presidential election between joining the wave of populism that has swept across the European and American political landscape over the past year or an attempt to renew the governing principles that have guided their country for decades, albeit via a 39-year-former untested Socialist turned Centrist. With the […]
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Don’t throw that coffee cup at your screen, I’m only being honest. Do some people get rich trading?…Absolutely. The internet is filled with talented pitch men that can hype anything from watching the stars to the latest and greatest make you rich on auto-pilot software program for your trading signals. (but the stars thing does work great with my wife) Well, here today on the World Wide Web I am going to reveal the Holy Grail of trading. The surprise is it won’t be found sold on the ‘net in fact it is not a trading system at all. It is (drum roll please) being honest with yourself. My goodness, that’s not very exciting after all the hype we’ve been fed by the guru’s.
The truth is there are many trading systems that work, but there are precious few people can be honest enough with themselves to pick a system correctly. Most people that want to trade start off by looking for that system that will beat the market. Now I know that some systems out perform others and by all means you should seek the best one. Where many struggling traders miss the boat is they don’t understand the best system is the one that matches your own personality. If one trader has good discipline he may not need a system that is very rigid. On other side of the discipline spectrum, a trader would need many rules to protect him. If either of these traders try to trade with other’s system they would probably fail. When you try to trade a system that does not align with your need for discipline as an individual you are destined to fight the very system your trading. The holy grail that many seek is the ability to correctly identify their strengths and weaknesses. This sounds simple but you would be surprised at how many people will disregard certain weaknesses that they do not want to admit to anyone, even themselves. If more traders would first be brutally honest with themselves and then design a system tailored to their own attributes we would have many more Rich traders.
Will you get rich trading? If you have the honesty to choose the correct system, and the discipline to follow that system it may be possible.