Skip to main content

Accurate Thinking Part 2

It would be a mistake to believe that what you hear, see, or read is fact. It only means that today bias is less obvious and we must be even more astute when searching for the facts necessary for accurate thinking.

Most of people say they.. get their news from television. That means they're inadequately informed, too poorly informed to exercise their rights in a democracy. You cannot give people enough information on the nightly news.
-Walter Cronkite

In the realm of legal procedure there is a principle called the law of evidence, and the object of this law is to get all the facts. Any judge can proceed  with justice to all concerned if they have the facts upon which to base their judgement, but they may play havoc with innocent people if they circumvent the law of evidence and reach a conclusion or judgement that is based on hearsay information.

The specific rules of evidence vary according to the subject and circumstances with which they are used, but you will not go far wrong if you follow this rule: If you do not have hand facts to work from, Form judgement on the part of the evidence before you you that furthers your own interests without working any hardship on others and is based on facts.

Many people mistake, knowingly or otherwise, expediency for fact doing something, or refraining from doing it, for the sole reason that their action furthers their own interests without consideration as to whether it interferes with the rights of others.

The accurate thinker deals with facts, regardless of how they affect his or her own interests, for they know that ultimately this policy will bring them out on top, in full possession of the object of their definite chief aim in life, They understand the soundness of the philosophy that Croseues had in mind when he said, "There is a wheel on which the affairs of men revolve, and its mechanism is such that it prevents any man from being always fortunate."

The accurate thinker adopts a standard by which they guide them self, and they follow that standard at all times. The standard is observed as faithfully when it brings temporary disadvantage as it is when it brings outstanding advantage. Using Accurate Thinking, they know that by the law of averages they will more than regain, at some future time, that which is lost when the result of applying this standard is to their own temporary detriment.

You must understand that it requires the staunchest and most unshakable character to become an accurate thinker, for there can be a certain amount of temporary penalty attached to accurate thinking. But the compensating reward is so overwhelmingly greater that you will gladly pay this penalty.

To many a man, and sometimes to a youth, there comes the opportunity to choose between honorable competence and tainted wealth.

The young man who starts out to be poor and honorable, holds in his hand one of the strongest elements of success.
-Orison Sett Marden

Comments

Popular posts from this blog

 All great leaders in every walk of life are highly sexed, but they follow the habit of controlling their sex desires, switching them into a driving force behind their occupation. The person who has self discipline understands the emotion of sex, respects it, and learns to control and transmute it into contructive activities. Q: Just what damage is there in over-indulgence of sex? A: The greatest damage is that it depletes the source of man's greatest driving force, and wastes, without adequate compensation, man's creative energy. Controlled sex supplies the magnetic force that attracts people to one another. It is the most important factor of a pleasing personality. It gives quality to the tone of voice and enables one to convey through the voice any feeling desired. It serves, as nothing else can serve, to give motive power to one's desires. It keeps the nervous system changed with the energy needed to carry on the work of maintaining the body. It sharpens the imagination...

SURVIVE THE LEARNING CURVE

 Those who can give trading more time when they start have a better chance to succeed. you must be patient. But your time will come. At the start of your trading, you should trade with small size and with one stock. You should not increase your tier size until you are positive 7/10 trading days. You should set a small max loss when you begin. You should be limited in your buying power. For example, when a new trader begins, he should not write more than 10k shares in a day, total. you are not going to be a great trader on Day One Gladwell explains, “Working hard is what really successful people do.” t deep practice, often with continuous feedback, is necessary to become great. Concentrated practice is key Daniel Coyle in The Talent Code: Greatness Isn’t Born. It’s Grown. If you want to be good at something, practice. Practice deliberately, and do so for many years. FOCUS ON IMPROVING EVERY DAY “I know of no more encouraging fact than the unquestioned ability of man to elevate his l...

CAN A FIRM ALWAYS SPOT THE NEXT GREAT TRADER?

 No. But a prop firm can tell who has a poor chance to become a CPT. To be good at anything will take everything you have. Not having developed the skills to work hard is a turn-off. Trading is a skill learned by doing, not just by reading a lot, theorizing, or the faux art of “paper trading.” THE PROS AND CONS OF RECRUITING EXPERIENCED TRADERS Loyalty is a good thing to a point, but it cannot trump logistics and reality. losing money should really bother you. If I am negative three days in a row, I spend a long evening on my couch with a bottle of red wine and comfort food. As traders, we can all recite the memorable line from Wall Street: “A man looks in the abyss, there is nothing staring back at him. At that moment he discovers his character. That keeps the man out of the abyss.”  Traders don’t talk about how they want to trade, what they want to read about trading, or how they wish they could talk about trading. Traders trade, read about trading, and talk about trading.