My Father’s Lesson Thursday, Jan 17 2008 

Diane remembers : My father was the smartest man I ever met, and he knew how to live well. He had 21 patents; he taught me think, to make decisions. The more options you have, the smarter choices you’ll make. If you think you have only two options, you will not make a smart decision. Your job is to create more options. He learned early the importance of having your own business, not working for someone else. He made money selling his ideas. He taught me the value of learning – anything you learn cannot be taken away from you. That was the lesson from Europe – possessions can be confiscated, but skills cannot. He had a successful business and used to say, “I am responsible for 62 mortgage payments.” because he had that many employees. He remained physically and mentally active until his death at 83. I know he would have enjoyed watching me make 5% a month selling options on his beloved Bell stocks.

By Diane Buffalin

Entries and Exits, Visits to 16 trading rooms – Alexander Elder

anything you learn cannot be taken away from you – what a wonderful words

04716780581.jpg

Financial Market Holy Grail Thursday, Jan 17 2008 

After a year
Eat,

drink,

sleep with the financial markets .. and has no other hobbies ..

  1. Stay in the game as long as you can.
  2. When you have a strong opinion about the market, go away from your computer, go walking the town. Don’t make your strong opinion change your trading size.
  3. Loss control, Loss Control, Loss Control.
  4. Keep repeating what you did right.
  5. Keep the trading size Thin, < 2 %  from assets ,if one trades is a losing trades, keep in your mind that there’ra other 100 goods entry points aheads.
  6. Loss is a part of the game.
  7. Dont make a monetary profit target, but set a goal of following a trading plan (entries,position sizes,exits) on 90+% of all occasions.
  8. Perform mental checklist before go trading, make a trader’s daily notecards!!
  9. Monetary goals end up creating unnecessary pressures.
  10. Be brutally honest with yourself.
  11. Don’t be too proud if you win and don’t be too sad if you loss, because winning is long term objective.
  12. Let the winners run, let the losers stop.
  13. Accept small loss, Avoid Big Loss