Skip to main content

Wisdom is never thrust upon one. It is acquired, if at all, by positive thinking, through voluntary effort!

It is never safe for anyone to have extensive knowledge without wisdom.

The majority of people who acquire wisdom do so after they have passed the age of forty. Prior to that time the majority of people are too busy gathering knowledge and organizing it into plans to spend any effort seeking wisdom.

Adversity and failure. These are nature's universal languages through which she imparts wisdom to those who are ready to receive it.

Do adversity and failure always bring wisdom?
No, only to those who are ready for wisdom and have voluntarily sought it.

What determines one's readiness to receive wisdom?
Time and the nature of one's thought-habits.

One never can be sure of knowledge that has not been tested.

What is dependable knowledge?
It is knowledge which harmonizes with natural law, which means that it is based upon positive thought.

Time modifies and alters all values. That which is accurate knowledge today may become null and void tomorrow because of time's rearrangement of facts and values. Time modifies all human relationships for better or for worse, depending upon the policy through which people relate themselves to one another.

In the realm if thought there is a time when it is proper to sow the seeds of thought, and there is a proper time to reap the harvest of those thoughts, the same as there is a time to sow and a time to reap from the soil of the earth. Without the proper measurement of time between the sowing and the reaping, nature modifies or withholds the rewards of the sowing.

Comments

Post a Comment

Popular posts from this blog

Maximizing Your Profits with Scoring

SETTING YOUR MAXIMUM INTRADAY TRADING LOSS First things first: set a max intraday trading loss. There will be days when you just do not have it. Why do you think coaches pull their players when they are not playing well? They are more harmful on the field than off. When you are underperforming, you are hurting your team and your trading business. You need a system to yank yourself over to the bench. A stop loss is your answer. TRADING BASED UPON THE TIME OF DAY A good trader makes note of what time of day it is, when he trades most profitably, and adjusts his trading to fit such times. Your numbers at the end of the month will not reflect your true trading potential. Make the most trades with the most size during the trading periods that statistically are most profitable for you. Money saved during your weaker trading periods is money earned. Consistency The fact is that most trades you make will start working for you right away. But the new traders also hold stocks that are trading ag...
Post a Comment
Read more

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.
Post a Comment
Read more

Reading the Tape

 Dr. Steenbarger, aka the godfather of modern trading psychology, wrote: “My experience is that an understanding of (and ability to read) order flow is one important factor that separates the older, successful generation of day traders from the newbies who only know simple chart patterns and indicator readings.” continue working on the skill of reading the tape and to sell the stock on the offer when the tape showed weakness. “Reading the tape must be learned through personal experience and long observation.” keep in mind that nothing can top experience. Don’t give up. It is not always this easy to Read the Tape. But there are plays where it really is simple. And reading the tape will offer pattern recognition plays that you can exploit. Overcoming a Confirmation Bias We all fight confirmation bias. But it will harm our performance if we do not overcome it. Let the tape talk to you. And use online vehicles like StockTwits and your peers sitting next to you to gain second ...
Post a Comment
Read more