Quote for the day

"Hard work compounds like interest, and the earlier you do it, the more time you have for the benefits to pay off." - Sam Altman

Quote for the day

"Successful traders spend as much time studying themselves and their trading as studying markets. In the patterns of your best and worst trades is the information that can make you the best trader you can be." - Brett Steenbarger PH.D.

Quote for the day

"Every adversity, every failure, every heartbreak, carries with it the seed of an equal or greater benefit." - Napoleon Hill

Quote for the day

"Before success comes in any man’s life, he is sure to meet with much temporary defeat, and, perhaps, some failure. When defeat overtakes a man, the easiest and most logical thing to do is to quit. That is exactly what the majority of men do. More than five hundred of the most successful men this country has ever known told the author their greatest success came just one step beyond the point at which defeat had overtaken them." - Napoleon Hill

Quote for the day

"Whatever the mind can conceive and believe, it can achieve." - Napoleon Hill

Quote for the day

"The average person puts only 25% of his energy and ability into his work. The world takes off its hat to those who put in more than 50% of their capacity, and stands on its head for those few and far between souls who devote 100%." - Andrew Carnegie

Quote for the day

"Planning is important, but the most important part of every plan is to plan on the plan not going according to plan." - Morgan Housel

Quote for the day

"Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want." - Morgan Housel

Quote for the day

"A wise man turns chance into good fortune." -  Thomas Fuller

Quote for the day

"If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money. And I am only right when I make money. That is speculating." - Jesse Lauriston Livermore

Quote for the day

"An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative." - Benjamin Graham

Quote for the day

"Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions." - Daniel Kahneman

Quote for the day

"Know your circle of competence, and stick within it. The size of that circle is not very important; knowing its boundaries, however, is vital." - Warren Buffet

Quote for the day

"Speculate with less than 10% of your liquid net worth. Risk less than 1% of your speculative account on a trade. This tends to keep the fluctuations in the trading account small, relative to net worth. This is essential as large fluctuations can engage {emotions} and lead to feeling-justifying drama." - Ed Seykota

Quote for the day

"Intelligence is not only the ability to reason; it is also the ability to find relevant material in memory and to deploy attention when needed." - Daniel Kahneman

Quote for the day

"We are prone to overestimate how much we understand about the world and to underestimate the role of chance in events." - Daniel Kahneman

Quote for the day

"In the world of business, the people who are most successful are those who are doing what they love." -  Warren Buffett

10 Golden Quotes by Rakesh Jhunjhunwala

1) "Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible."

2) "Hastily taken decisions always result in heavy losses. Take your own time before putting money in any stock."

3) "Anticipate trend and benefit from it. Traders should go against human nature."

4) “Never invest at unreasonable valuations. Never run for companies which are in limelight."

5) “Trading always keeps you on your feet, it keeps you alert. That's one of the reasons why I like to trade."

6) “Emotional investment is a sure way to make loss in stock markets."

7) "You cannot make profits in the stock market unless you have the ability to bear losses."

8) "Buy when others sell and sell when others buy – the stock market mantra."

9) “Invest in companies which have strong management and competitive management."

10) “When opportunities come, they can come through technology, marketing, brands, value protections, capital, etc. You need to be able to spot those."

Quote for the day

"If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you’d need." - Warren Buffett

Quote for the day

"The struggle you’re in today is developing the strength you need tomorrow." - Robert Tew

The 80/20 Rule or the Pareto Principle - How it can change your life?

Have you ever wondered something? That some of your mates or even your business partners do a little and get a lot in return. Well, is that black magic? It might not be because a scientific method which is known as the Pareto’s principle or 80/20 Rule is here to explain the whole deal to you. 

Understanding the knowledge of the 80/20 principle

The 80/20 is sometimes known as the Pareto principle. This was originally an observation made by Vilfredo Pareto that around 80 percent of the world’s wealth is only owned by 20 percent of the population. We are not here to discuss economics right. We are here to decipher the whole trick and help you to prepare for your life scores in the best possible way needed.

There are some simple tricks that you need to apply to your Life because mugging up won’t do you any good. Living smart is the option right now, and with that comes the need for your presence of mind. Successful people who know how to advance their Lives already have learned the 80/20 rule. It always helps them to prepare life exams and to ace the results later.

While it does not seem like it is the precisely 80/20 rule which works here, these imbalances are seen in your Life and often in other cases as well.

To this day, the 80/20 rule applies in real Lifelike:

Most of the time, you will see that only 20 percent of the people have the riches of the world, and 80 percent have half of it. This might seem unfair but it is how it is.

In your exam time, you can see that students who only study about as little as they want, they will get 80 percent of the marks. The rest of them will attain lower grades.

In your business analytics, the managers or the workers who only spent less time of their work into the business then they are obtaining 80 percent of the incentives. The 20 percent is attained for the lower part of your motivation.

The 80/20 Rule to advance your Life

You might be wondering what the 80/20 rule is so here we will cover it for you. For instance, living with a limited amount of resources for a day can be hard for you. Under final observation, it is seen that different people have a distinct style of coping, and that is how the whole factor is determined.

Studies have seen that people who have only put 20 percent of their effort have scored above 80 percent of the results towards their achieved goals.

You might be thinking that how it really happens but well, there is a trick to it. Don’t apply if you don’t know the entire rule. The beauty of the 80/20 rule is that it works for you, and it is quite simple to understand as well. Even you can turn around your life in just a single way if you are using this strategy. If your friend is struggling and always finding it hard to cope better with their Life, then you can recommend this to him/her as well.

How does it work?

One of the best mental models that you can get around for yourself is the 80/20 or the Pareto principle. You can basically apply it in your daily life, and it helps you with a lot of things that you want to improve in. Like if you wish to have better learning skills, use this principle to do better. This can also be used by people who want to analyze better ideas for their business and else.

Well, the 80/20 rule is used to improve everything in a well-systematized way.

If you are a typical analyst of Life, then what do you do? You spend half of the time into sulking the fact that why you are not getting your dream job or doing productive work in a single day. Your version of living Life is wasted onto the thoughts that you put inside it. Pareto’s principle is the mental model you can use.

You need to understand where your focus lies and make sure that it sticks to it. You need to have a core and basic understanding of your surroundings. Here, you cannot dive into the growth of the process. You have to get the pieces together, and only then you can dive into the success of Life. By putting the right type of focus on the work that you do, you will be changing your Life for the best. It will help you to get a charge on your Life.

Using the 80/20 rule for your benefit

Well, according to the Pareto principle, you need to devote a few hours of your time and focus on the thing that you want in your life.

The rest of the time which you waste should be accounted for a minimum part. It is only for a smaller potent. This does not usually happen to the majority of the people out there. They will take their time to understand and then focus on their Life. Here is something you can look out for.

1. Make sure that you only spend 20 percent of the time in understanding your goal. Understand that the 80 percent is meant for you to persuade it.
2. When you are wasting your time, waste only for 20 percent, rest, use it for your source.
3. Eighty percent of your time is spent on the mindless hunting of better apps and fiddling with your phone.
4. Use the 80 percent of your time into collecting the information you need to change your Life. The best hack lies here.

Prepare for the best

These preparation strategies are here to improve the potency of your Life and advance the options. Using Pareto’s principle will help you to find the best meaning to Life. Always understand that keeping the priorities ahead of you will help you to land somewhere in Life.
Source: www.tradebrains.in

Quote for the day

"Optimism is a happiness magnet. If you stay positive good things and good people will be drawn to you." - Mary Lou Retton

Quote for the day

"You’re braver than you believe, and stronger than you seem, and smarter than you think." - A.A. Mine

Quote for the day

"Winning doesn’t always mean being first. Winning means you’re doing better than you’ve done before.” - Bonnie Blair

Quote for the day

"You always pass failure on the way to success." - Mickey Rooney

Quote for the day

"Most people fail to realize that in life, it’s not how much money you make, it’s how much money you keep." – Robert Kiyosaki

Quote for the day

"Develop success from failures. Discouragement and failure are two of the surest stepping stones to success." - Dale Carnegie

Quote for the day

"Grit is that ‘extra something' that separates the most successful people from the rest. It's the passion, perseverance, and stamina that we must channel in order to stick with our dreams until they become a reality." - Travis Bradberry

Hagakure: Trade Like A Samurai

By Steve Burns 

The Hagakure: The Book of The Samurai records Yamamoto Tsunetomo’s views on bushido and the warrior code of the samurai. It was written in the early 18th century and explains many principles of the Samurai warrior. Many of these same principles can be used in business, sports, trading, and investing to achieve a warrior mindset and overcome your ego and emotions along with your adversaries.

Bushido Code

The Bushido was a code of conduct for the Samurai consisting of 8 core principles.

1. Righteousness
2. Heroic Courage
3. Benevolence & Compassion
4. Respect
5. Integrity
6. Honor
7. Duty & Loyalty
8. Self-Control

Let’s apply these same principles to success in trading and investing.

Trading Like A Samurai

Doing the right thing: If you have your own system, method, and process with an edge over the competition then if you follow it you should be free of guilt and regret. Knowing you are doing the right thing is a powerful psychological tactic that frees your energy and creates single-mindedness and focus of action.

Confidence in yourself and your strategy: You can take immediate action to follow your strategy when you have faith in yourself and your process. Faith in action leads to less stress when facing unknown future events.

Positive self talk: We must be a friend to ourself with internal self talk. Our own inner dialogue and thoughts should be positive and like that of a friend and coach not an enemy.

Self respect: We must appreciate our past successes and have confidence in our path and future goals. We should never talk negatively about ourself to others. Right action and effort creates self respect, laziness and wrong action hurts it.

Know yourself: Be whole and undivided in who you are and what you believe. Ensure your actions match your words and beliefs.

Honor: Samurai were warriors with a sense of self worth and lived by the highest code of behavior and conduct. To abide by the principle of honor, we must acknowledge your moral responsibilities for taking actions consistent with or systems and beliefs.

Doing the work consistently: We choose the method we will focus our work and effort on at the beginning of our journey. Then our path consists of executing loyally to our goals.

Managing emotions, desires, and ego: The ability to use your mind and your principles to override feelings, wants, and arrogance is true power. A true samurai first defeats their self before facing any external enemy.

Source:www.newtraderu.com

Quote for the day

"Energy and persistence conquer all things." - Benjamin Franklin

Quote for the day

"Challenges are what make life interesting and overcoming them is what makes life meaningful." - Joshua J. Marine

Quote for the day

"Move out of your comfort zone. You can only grow if you are willing to feel awkward and uncomfortable when you try something new." - Brian Tracy

Quote for the day

"I'd rather regret the things I've done than regret the things I haven't done." - Lucille Ball

Quote for the day

"Hire character. Train skill." - Peter Schutz

Quote for the day

"The best leaders are those most interested in surrounding themselves with assistants and associates smarter than they are. They are frank in admitting this and are willing to pay for such talents." - Antos Parrish