Wednesday, November 13, 2013

It is said that the forces of fear and greed rule the trader and whether they succed in their endeavours in the market. In Malaysia though, the EGO is especially more prominent, judging from the irrational behaviour of the traders. 99% of them are too caught up in the emotion of EGO that gives them the urge to show off, they make forecasts out of thin air, just to say "I told you so" when their forecast comes true. They will also incessant talk about and focus on 'their great trade"... as well, they will announce their daily results such that they can say to the other trader:"I made xxx dollars today, have you made moneytoady?"(if you did not, then you are inferior)

1 Comments:

At 10:06 PM, Blogger chincherng said...

Hi master,as a learning trader in bursa malaysia, can i ask some advise from you...
how do we determine when its the time to not trade ?
u mentioned about livermore's sitting capacity, are you suggesting people to look at a more longer time frame ? wouldn't we should continuously monitoring our position even after the market go in our favor ?
Really appreciate your view.

 

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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From Dragons and Bulls by Stanley Kroll
Introduction and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system