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wmck6167
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Posts posted by wmck6167
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"If you don't pay tax on the gains while you are earning your 50%, then you'll be in jail before you get to your million. "
You are absolutely right! We absolutely need to following the rules. Well, Mr. Buffet, I also need you to teach me how to file the tax efficiently since my math is bad, I always calculate 1 + 1 = 1 , please….
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“Assuming you have the ability to become a millionaire,how much do you want it?”
It’s a future question it’s hard to answer the question from my point of view. But Mr. Buffet is a model I respect, enjoying the process (not the money) to achieve the target and I believe that there is no final target if you are enjoying the process.
“There's a price for everything.Do you think you can pay it?” It’s very personal and prefer not to answer the "promise type" question.
It's great to hear your comments.
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“But it may not work with low capital... ? “
You point out a factor about the capital, although I did no know your capital range. During a shareholders meeting in 1999, Mr. Buffett lamented that he could generate 50% returns if only he had less money to invest. He couldn't compound $100 million or $1 billion, at a 50% rate. So I did the calculation, if I conduct trading with the 50k money and with 50% yield annually, then I can become a millionaire after 7th year. The future more, and then the more horrible profits produced based on the investments compounding. One the other hand, is that also inferred the lost risk is also increased if capital increased?
I maybe wrong, but I really want to become a millionaire with righteous time. Have a great weekend. Cheers.
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Well, I just think an interesting question, if I can know Mr. Buffet’s buying (if I had a telescope or a computer hacking program or insider), then I buy what he buy, can I become a millionaire? (of course, billionaire is even better!) If it is the truth, then following a successful person can guarantee my success shall be a norm. But why the world the portion of successful people is still so small? Have a fun and good luck.
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Fundamental or technical analyses are both great tools! For some extent, I believe the mental activities to make the right decision behind these tools maybe the key. There are so many interactions behind the scene, even many use the same tools or same procedures. Could we find a scientific way to predict it? Could we win the game even if we think that we could predict it? Cheers, have a fun.
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I found that conducting trading in stock market is a good way to improve your personality in a very short time since there are not so many events in daily life to provide you the opportunities to strengthen your personality righteously. Here is what I learned from my trading experiences. Most of time, I found, it gave me the better life experience during trading.
1. I found that I may get better result if I can avoid the gambling (guessing)
2. I need to keep good operation habits to consistently earn profit (so I found that I need to start steps by steps starting from daily life activities)
3. I need to manage the risks when I am greedy (prudent)
4. If I make the right decision, then I can feel the peace after market closed (righteousness)
5. If I think more, then I can have better preparations to face the uncertainty (wisdoms)
6. If I think it’s impossible to win, and then the better choice is to think again (never give up)
Thanks God and thanks TradesrLab for providing this place to think and learn. May everyone has win-win results in this game and gain better life experiences. Cheers.
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In my opinions, there are two types of traders, one is used other people’s money and the other is using own money. I believe that it shall have some differences in mentorship learning, no matter you learned from dead or alive person. For retailer trading, if people can easily know your cost information and this interaction game become more complex. Isn’t it?
Cheers,
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Hi, friends,
It really encouraged me since there are more replies than I expected. I can see your good hearts to help clarify what’s right about the mentorship. In my opinion, you guys may look the things from different angles. Some looks from inside out, some stands outside to look the one needed to be helped. It’s an interaction event for mentorship. Good mentor interact with someone sticks his perception, like me in the past, it won’t help a lot since human being may be hard to change the personality if from outside. But I believe the one start to devote his whole heart to figure it out what’s going on in the trading, he may start to receive the crown of life in trading. Isn’t it? Best to your trades with peace.
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You, as a trader, need to be coach-able.....If you're stuck in your ways and beliefs, no mater what a mentor tells you, you will not accept it and you won't change for the better.
The next question is why we stuck in our ways and beliefs without see yourself? Even you know some principles, but still no problem to obey it? It's always a very interesting question to me frankly.
B. Graham and P. Fisher taught me a lot of truths in stock market, but honestly I still hard to catch it when I start to do trading at the beginning, until I learned from failures....
Good luck!
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If we have strategy on investment or trading, we feel better to face the uncertainty in the market. But Do we really need to play the strategy around to maximum our profit? It’s a very interesting question.
Here is what they say:
Mr. Warren Buffet: “Our favorite holding period is forever.” Warren plays for keeps and making amazing gains, like his, takes time.
Mr. Phil. Fisher: “…staying through all the fluctuations of a gyrating market proved far more profitable to far more people than did the more colorful practice of trying to buy them cheap and sell them dear.”
So when next trend is coming… You may play around with fancy strategy or just buy low and keep…see which one will win! Cheers.
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Market must be predictable!
If market is inherently unpredictable, that means it shall be incapable to utilize any model to predict it. This model may be predict the market well in certain time frame, but repeatability will be bad since we cannot control time.(agree?)
So market shall be predictable if we want to make money from the market. One typical example is the insiders, but he may be caught since he steals the unpredictability from the market (I maybe be joking).
So can we make the market predictable? Cheers!
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"http://www.bloomberg.com/news/2012-0...-buchanan.html....."
I noticed a comment:
"Steeloak 11 months ago 1 comment collapsed Collapse Expand
As a trader, I long ago learned not to guess why the market is doing something, I simply wait to see what the market is doing & get onboard the trend. I do trade around news events, but only to see how the market reacts, not to guess what it will do.
Other than that, it is simply cut my losses short & let my winners run. Sounds easy, but it has taken me 5 years to get good at it.
I think anyone who says they can predict markets, or knows the reasons why the market is doing what it is doing is just talking through their hat."
I just wonder why he handled simply cut losses short and let winners run took so long to get good at it..... Indeed this is the question I am thinking to about it this year. I think days and nights, and even in my dream..........
Anyhow, thanks for bring out this question and have a good profit trades next week.
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Trading is not only a skill but also an art...Hope this helps.
What a great say about skill but also an art. For me a beginner, the trading is like the Art of War, The Art of Game and Bridge, The heart of Righteousness and The heart of Peace. Best to your trades!
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1. He (She) had better to be a dead person. Then you won’t have a chance to argue with him and stick on your perception.
2.He shall be a person can set up own strategy and persistently earn the profit both. You probably can easily find lots of people can set up a lot of strategy; on the same time, you also probably can easily find lots of people make significant money without own strategy(follow up others). But the ONE with both can probably know your heart and help you to stand up strong. Cheers,
Best to you to have a wonderful profitable trades!
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So what does everyone think? Do scalpers collect enough pennies throughout the day? Or do the swing traders make more compounding their position?MMS
Thanks for brainstorming! For me, both can make significant money. variable is time and price, but controllable factor is you. The contest is in the future.
Cheers,
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Fundamental analysis or technical analysis are great tools and I believe that many are quite familiar with those. But one day I used my own way and surprised, I found that it also can make money. It’s very simple, just used my eyes looked at the raw data of price curve vs. volume without any makeup tools on it. I used my feeling to feel the trend since stock market only go up or down two directions. Then I found that I still can make money. Believe it or not, I can see 3D picture without using 3D glasses, just refocus my eyes consciously. Cheers, just for fun and have a great weekend.
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“THEN THE NEXT TIME YOU SEE THAT PROCESS DEVELOPING, YOU SEE IT AND STEP IN TO INTERRUPT THE PROCESS....” What a great say!!! I am not a professional trader, but here is my way to share.
Even I developed that kind of process at the beginning, I still felt not easy to control myself. So I developed my way to interrupt it::doh:
When I saw that process developed, I on purpose step in the old one and no surprise see it failed as usual as I expected. Now I told myself that I only have a second chance and I need to hold it right. Then I stepped in to my new process without excuses…. :crap:
Cheers and FYI.
Ps: But in my opinion, mental process may so complicate and obedience is also so complex process. Have a great and peaceful trades in this New Year.:missy:
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".........enjoy huge profits and low taxes."
Yes...... To the future for enjoying the higher profits and lower taxes........ :missy:
Cheers,
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Dear Traders lab, Merry Christmas! I would like to thank you to provide this place and let me have a chance to share my thoughts about the trading. May peace, joys, happiness and good business bring to you in the coming New Year.
Since I start to place my opinion in trade lab, I found that I have more chance to review my trading. I switch my trading style and focus area from fighter to shepherd. My risk control and trading strategy switch focus from present to future. Trying to build a better trading habit based on future profit and risk control, not just on current. It’s an interesting switch and hopefully I can obtain better results under current trading environment.
Anyway, Merry Christmas and Happy new year to you guys.
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Is lost in trading initially is a lost? In the end of year, I am happy if there is lost in my trading because I can deduct my earning tax and put my profit rolling into future year. On the other hand, If I have a full plan strategy for initial trading lost, I think the lost is just a bait. When I examined my trades and found the most profitable trades are the initial trades I lost a lot but with a strategy to win it back. Not hit and run. It's kind interesting. But it seems to have something wrong. I hope I can trade with continues wins with little lost. Is it possible? Need help if you can. Cheers and have a profitable trades.
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......tell us your biggest mistakes you've made.So who wants to go first?
Hi, It's nice to see this thread and found your guys are great to be so straightforward in your trading experience. I like to share my biggest mistake I had. I just start my trading recently, but I like to deep thinking. And thanks God, I got good results this year. Hopeful I can keep going in the future. My big mistake is that “I think I can win based on some factors that I can not control.” so later on I realized that what I can control is only how I not be lost more.” Trading indeed gave me a lot of good transforms in my life. I learned I need to keep right daily habits persistently consciously whenever I lost my mind in doing something autopilot wrong since I learned experience that I know I can not keep bad habit to win in trading. I learned how to keep peace in my life (tried to precept the risk before conduct a guessing). I found that it's not easy to learn how to win persistantly, but it's easier to learn how not to loose. Cheers and have a good profit trades.
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I believe that you might have a chance at least one time to encounter a knocked out big trade loss:doh:. Whether you can step it out and change your operation mode of trading determine your destination, from my experience. Unfortunately, the suffering is so painful and emotional. It's really hard to get it out by yourself I found. My way is to find the support out of my system, e.g. from books, from great persons experience, your most lovely and trust person.... etc. How about you? Have a great trades!
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Today I found that I am not a fighter anymore... I become a shepherd. Thanks God!
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If you had integrity with yourself and your trading then you will be at peace, if not, there will be for sure a feeling of discomfort. Following a trading plan and your own rules is essential to keep yourself balanced in and out of trading.There is nothing more important than to be able to say to yourself: I did what I said I was going to do. Discipline is key!
Hi Eddie,
Thanks for your good comments. I put your factor into a liner equation and add more:
Trade Peace(x,y,z,...)=a*integrity+b*discipline+c*short term profit+d*long term profit+e*risk+f*personal achievement..., where a,b,c,d,e,f are constant. I believe that it will have more factors which very depends on personal demands and situations. Furthermore I believe that these factors are interacted with each other. Now there is a interesting question, could a person control these factors by his own self? If answer is yea, then he is a God blessing person, I think. Cheers,
Trading Mindsets is 80 % of Success
in Trading Psychology
Posted
“By the time anyone's done what needs to be done to get profitable, mindset really isn't an issue.”
There may have an assumption: you can predict the future since you project that you can take the profit… Is this the truth always? What if current set up is a set up and you maybe be hooked to the future….what if It’s like a bridge game and if it’s an interacted.., It’s just my personal opinion.
"Trading Mindsets is 80 % of Success"
It’s a great topic and thanks for bring up this great question. I like to think of why? I remember when I started to think this question, why “a lot”, then I started to trade profit thankfully. I tried to overcome the barrier of setting the strategy and conducting the trading by myself, it takes a long mental thinking process….It seems that I need to deal with invisible enemy and set up a team to fight for it. The battle field is in the future… It’s so great to hear your opinions. Cheers.