Monday, 30 April 2018

Quote for the day

"Destiny grants us our wishes, but in its own way, in order to give us something beyond our wishes." - Johann Wolfgang von Goethe

Sunday, 29 April 2018

Quote for the day

"Destiny has two ways of crushing us - by refusing our wishes and by fulfilling them." - Henri Frederic Amiel

Saturday, 28 April 2018

Quote for the day

"Seeking knowledge is like opening doors. And I know the doors are everywhere." - Georges St-Pierre

Friday, 27 April 2018

Colombo Stock Exchange Trade Summary 27-Apr-2018

Quote for the day

"Trust is earned, respect is given, and loyalty is demonstrated. Betrayal of any one of those is to lose all three." - Ziad K. Abdelnour

Thursday, 26 April 2018

Colombo Stock Exchange Trade Summary 26-Apr-2018

Quote for the day

"Everything that irritates us about others can lead us to an understanding of ourselves." - Carl Jung

Wednesday, 25 April 2018

Tuesday, 24 April 2018

Colombo Stock Exchange Trade Summary 24-Apr-2018

Quote for the day

"You don't learn to walk by following rules. You learn by doing, and by falling over." - Richard Branson

Monday, 23 April 2018

Colombo Stock Exchange Trade Summary 23-Apr-2018

Quote for the day

"Run when you can, walk if you have to, crawl if you must; just never give up." - Dean Karnazes

Sunday, 22 April 2018

10 Habits of Top Traders

By Steve Burns

In my thousands of hours of study of top traders and what has enabled me to make money in the market I have noticed 10 common habits of billionaires, millionaires. and skills I had to develop in my own years of profitable trading:

They think for themselves. They have their own system, methodology, and plan already predetermined, they don’t have to go looking for others opinions.

They do not care when others disagree. They are trading signals, systems, and managing risk/reward ratios they are not concerned with others disagreeing or heckling their trades. Many times that is a good sign they are on the right side as the majority is losing money.

They can trade safely through chaos. Their position sizing keeps them safe from big losses, when the market gets volatile their trades get smaller.

They are always learning. They are always reading, studying markets, and backtesting systems. They are looking to improve on their edge, not reinvent the wheel.

They do not participate in market debate. They do not waste time and energy on arguing with others about a nonexistent future. The market chooses the winners and losers in real trades not by arguments.

They cut losses quickly. They do not waste time on losing trades. They keep losses small and limit the time they spend in trades that go nowhere. They free up capital to use in winning trends, they are quick to quit holding and hoping on losing trades.

Their opinion matches the price action. Great traders are simply long in bull markets and short in bear markets. They are using systems to stay on the right side of a trend.

They trade small. Their money is from consistent wins and an up trending equity curve not big gambles and risky bets. No one position puts too much capital at risk. Each of their trades is just one of the next 100 trades.

They have confidence. They believe in their method and process and their own ability to execute it with discipline.

They never quit. Trading is their life passion, they love the game of the market. They never give up the path to profits and wealth building.

The more of these habits you develop the greater the odds of your long term trading success.

Quote for the day

"Sometimes, when tragedy strikes, people give up hope that they can expect anything more from life, when the real quest is finding out what life expects from them." - Richard Paul Evans

Saturday, 21 April 2018

Quote for the day

"The real danger is not that computers will begin to think like men, but that men will begin to think like computers." - Sydney J. Harris

Friday, 20 April 2018

Colombo Stock Exchange Trade Summary 20-Apr-2018

Quote for the day

"Karma is the universal law of cause and effect. You reap what you sow. You get what you earn. You are what you eat. If you give love, you get love. Revenge returns itself upon the avenger." - Mary Browne

Thursday, 19 April 2018

Colombo Stock Exchange Trade Summary 19-Apr-2018

Quote for the day

"Strength does not come from physical capacity. It comes from an indomitable will." - Mahatma Gandhi

Wednesday, 18 April 2018

Colombo Stock Exchange Trade Summary 18-Apr-2018

Quote for the day

"Too many of us are not living our dreams because we are living our fears." - Les Brown

Monday, 16 April 2018

Sunday, 15 April 2018

Why Arrogance is Expensive in the Markets

By: Steve Burns

There are two kinds of traders:

1. Those who are humble.

2. Those who are going to be humbled.

In the markets competence must come before confidence or the market will give you an expensive education. No one can predict the future prices of markets the stronger the belief that you can then the harder it is to exit a position when you are wrong. The future can not be predicted because it does not exist yet and there are endless variables that will play into how prices play out due to news, buyers and sellers motives, along with mass fear and greed. The height of arrogance is in making big risky bets believing you can predict the future when most know variables are already public. The bigger the position size of a trade the more arrogant or ignorant the trader usually is. The bigger the trade the bigger potential loss, the longer you wait to take a stop loss the bigger a loss will grow. The market will charge you a high price to teach you to exit your losing trade for a small loss.

What can a humble trader do in the place of opinions, predictions, and arrogance? Trade a system that reacts to what the market is doing not what you think it will do. Up trends, downtrends, and ranges give you clues as to the nature of a markets price action.

A humble trader looks at the past history of price action to give them a better chance of trading future price action profitably. Backtesting a trading system does not guarantee it will continue to work but it greatly increases the odds. The patterns and trends of the markets do not repeat exactly but they are similar enough to trade with good risk/reward ratios.

Have confidence in your trading system and your discipline to execute your trading plan with discipline. But also be humble and take your planned stop loss when the market shows you that your trade entry is likely not going to work out as a profit.

“There are old traders and there are bold traders, but there are very few old, bold traders.” – Ed Seykota


Quote for the day

"The unexamined life is not worth living." - Socrates

Saturday, 14 April 2018

How to Think More Like a Rich Person (and Actually Become Wealthy)

The right mindset drastically ups the odds of becoming financially set.

By Wanda Thibodeaux 

If you want to be rich, it makes sense to model what wealthy people do. But behaviors are driven by underlying beliefs and ways of thinking, meaning that getting rich often requires a mindset shift, too. To make it super clear where to focus your attention, the infographic below breaks down the key differences in the way rich and poor people tend to view money.

In essence, much of what separates rich people and poor people is a sense of being personally responsible for one's own fate and an unwillingness to accept defeat in the face of failure. Individuals who enjoy wealth also are willing to learn and take help, and they are able to look at life in the long-term rather than being swept away by the emotions of the moment. If you need to get thinking like this, reading classic books like Napoleon Hill's Think and Grow Rich is a great, simple way to start. But be brave, too. Expand your social circle and surround yourself with people who have strong financial sense. The more you're around them, the more their mindset will rub off on you.

Quote for the day

"Time and tide wait for no man." - Geoffrey Chaucer

Friday, 13 April 2018

Quote for the day

"It doesn't matter how many times you almost get it right. No one is going to know or care about your failures, and neither should you. All you have to do is learn from them and those around you because all that matters in business is that you get it right once. Then everyone can tell you how lucky you are." - Mark Cuban

Thursday, 12 April 2018

Colombo Stock Exchange Trade Summary 12-Apr-2018

Quote for the day

"Never apologize for showing feeling. When you do so, you apologize for the truth." - Benjamin Disraeli

Wednesday, 11 April 2018

Colombo Stock Exchange Trade Summary 11-Apr-2018

Quote for the day

"You have to know when to be arrogant. You have to when to be humble. You have to know when to be hard and you have to know when to be soft." - Talib Kweli

Tuesday, 10 April 2018

Colombo Stock Exchange Trade Summary 10-Apr-2018

Quote for the day

"Don't worry about failures, worry about the chances you miss when you don't even try." - Jack Canfield

Monday, 9 April 2018

Colombo Stock Exchange Trade Summary 09-Apr-2018

Quote for the day

"Work is a rubber ball. If you drop it, it will bounce back. The other four balls - family, health, friends, integrity - are made of glass. If you drop one of these, it will be irrevocably scuffed, nicked, perhaps even shattered." - Gary W. Keller

Sunday, 8 April 2018

10 Ways To Reduce Stress

Don’t respond to negative people: You do not have to answer to people that do not understand what you are trying to do with your life. The odds are that your critics and naysayers have no idea how it will be possible for you to achieve your goals.

Get exercise: A lot of your mindset and well being can be correlated to your fitness level and daily activity. Exercise is a great way to manage stress by releasing it.

Eat healthy: Consuming food that is nutrient dense and gives you energy can help your perspective and mood by giving your energy and helping you feel good.

Read: Always read books that help you structure your thoughts, grow, and fill in gaps in your thinking.

Write: Putting your thoughts and feelings on paper can help bring them into your conscious mind and help you understand them and manage them.

Be generous: Giving to others will come back to you in the long term in ways you will not expect. It will also help you break out of a scarcity mindset and open your mind to also receive.

Sleep 8 hours a night: A good night’s sleep can heal a lot of mental and emotional pains. Sleep deprivation will increase stress levels and lead to bad moods and exhaustion.

Have healthy family time: Spend time with your family that loves you and supports you. They can recharge you. Knowing you are supported and loved unconditionally can energize you and give you strength to overcome doubt.

Be thankful: Appreciate what you have, thankfulness for what you have can lower the stress about what you don’t have.

Be a good friend: If you are a good friend you will have good friends. Calling good friends when you need someone to talk through your stressful events with will help lower stress levels.

Do not take your eyes off the prize: A big enough future goal can make your current problems and obstacles seem small. It takes a big vision of your future to bring down your present stress levels.

Quote for the day

"To succeed in the world, it is much more necessary to possess the penetration to discern who is a fool, than to discover who is a clever man." - Charles Maurice de Talleyrand

Saturday, 7 April 2018

Quote for the day

"It is not so important to be serious as it is to be serious about the important things." - Robert M. Hutchins

Friday, 6 April 2018

Colombo Stock Exchange Trade Summary 06-Apr-2018

Quote for the day

"Remorse sleeps during prosperity but awakes bitter consciousness during adversity." - Jean-Jacques Rousseau

Thursday, 5 April 2018

Colombo Stock Exchange Trade Summary 05-Apr-2018

Quote for the day

“Trading can be your passion and a way to make money and create wealth but it is not the meaning of life. Your highest goal should be happiness and trading should just be a stepping stone on your path there.” – Steve Burns

Wednesday, 4 April 2018

Colombo Stock Exchange Trade Summary 04-Apr-2018

Quote for the day

"Some men change their party for the sake of their principles; others their principles for the sake of their party" - Winston Churchill

Tuesday, 3 April 2018

Colombo Stock Exchange Trade Summary 03-Apr-2018

Quote for the day

"People willing to trade their freedom for temporary security deserve neither and will lose both." - Benjamin Franklin

Monday, 2 April 2018

Colombo Stock Exchange Trade Summary 02-Apr-2018

Quote for the day

"To become an ace a fighter must have extraordinary eyesight, strength, and agility, a huntsman's eye, coolness in a pinch, calculated recklessness, a full measure of courage and occasional luck!" - Jimmy Doolittle

Sunday, 1 April 2018

Quote for the day

"Keep exploring. Keep dreaming. Keep asking why. Don’t settle for what you already know. Never stop believing in the power of your ideas, your imagination, your hard work to change the world." - Barack Obama