Quote for the day

"Your attitude, not your aptitude, will determine your altitude." - Zig Ziglar

Quote for the day

"Courage is not having the strength to go on; it is going on when you don't have the strength." - Theodore Roosevelt

Quote for the day

"Riches get their value from the mind of the possessor; they are blessings to those who know how to use them, and curses to those who do not." - Terence

Quote for the day

"Through perseverance many people win success out of what seemed destined to be certain failure." - Benjamin Disraeli

Quote for the day

"A failure is not always a mistake. It may simply be the best one can do under the circumstances. The real mistake is to stop trying." - B.F. Skinner

Mourinho’s simple seven-point plan for winning big games (Applied to trading)

Football’s 7 point plan can be applied to trading.

1) The game is won by the team who commits fewer errors. (Trader who commits few error wins)

2) Football favours whoever provokes more errors in the opposition.
(Longer the trend higher is the chance of a fade of new highs/lows)

3) Away from home, instead of trying to be superior to the opposition, it’s better to encourage their mistakes.
(When capitalizing opportunities outside one’s expertise/skill set its usually a good call to follow superior risk management controls)

4) Whoever has the ball is more likely to make a mistake.
(More trades one makes ,more mistakes one can make by over trading)

5) Whoever renounces possession reduces the possibility of making a mistake.
(Anticipating trends rather than following trends aka contrarians have lower risk/higher reward)

6) Whoever has the ball has fear.
(After putting on a trade emotions are evoked)

7) Whoever does not have it is thereby stronger.
(Be selective in trades, avoid lower probability trades)

Source: www.newtraderu.com

Quote for the day

"Your rewards in life will be determined by what you do, how well you do it, and the difficulty of replacing you." - Brian Tracy