Trader Quote #31

Trader Quote #31 

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“Common Sense  is Not common practice” Rhonda Scharf

==== This is a great quote for all the traders reading. I guess, it is an adaptation of Voltaire’s classical quote “Common sense is not so common”. We as traders all know about the typical themes such as: risk management, lot assignment, technical analysis , fundamental analysis  stop loss, limit orders, probabilities etc etc. and we are all well-aware that these are very important elements for successful trading, so the question is: Why is this common knowledge not a common practice in our trading overall? Why are there periods of time where we follow our rules by the book and then we go totally off-course? 

Don’t feel bad if you have experienced this episode, I have passed through it and any serious trader who has been long enough in this business has lived it. The key is to not repeat it, right? 

Knowing is not the same as doing! hahaha! there are many examples: Everybody knows how to lose weight but it is not the same as to always go too the gym and have a balanced diet etc etc. A typical trader knows that he must follow a risk protocol, stop orders but does he constantly execute it?

Doing takes time! Traders always ask me, why can’t I follow my rules all the time? I simply reply, habits take time to develop. Just as bad habits in trading seem to be “faster” to learn, “good” trading habits take time, a long time (but its worth it 🙂 ). It takes many repetitions  documentation, learning from mistakes to progressively train ourselves to follow our book of rules!

Start by staring! If you are having problems following your own trading rules, my suggestion would be to first have a set of simple rules you understand and can execute (daily, weekly, monthly) with the appropriate risk management rules. If you don’t have any, investigate, learn, test and share your questions with the trader community to help you polish them,

The most important constant should be the constancy in Something! Common sense is not common practice, let your rules be common practice!

Please feel free to share your comments, experiences or doubts! Best of Luck in your trading and always use stops! Cheers,  Dimitri =====


Technically, What the Fuck is Money?

Technically, What the Fuck is Money?

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Hello Traders, this is a meme I just created right now,  but its about a training am going to give in Mexico City this 28th September. With this, I will soon write an article about just this topic, especially for my international readers!

Please keep in touch! Cheers! 🙂 

The Money Machine®

Haz que el Dinero trabaje para ti y aprende sus mecanismos: cómo se crea, se emite, se controla y el impacto que el contexto macroeconómico tiene en tú negocio. 
Anticipa los comportamientos y mecanismos del flujo del Dinero para incrementar tu efectividad en la toma de decisiones e impactar tu desempeño financiero.

“No puedes predecir el futuro, ni lo intentes, solo puedes gestionar tu riesgo” Dimitri Feria

Contenido:

1. El Origen del dinero: Aprende el origen del dinero, sus mecanismos atraves de la historia monetaria y benefíciate conociendo el rumbo del dinero. 

2. Visión Macroeconómica: Interpreta y analiza la trayectoria de los mercados financieros en beneficio de tú negocio.

3. Análisis de Riesgo y disminución de pérdidas. Anticipa las condiciones y toma decisiones de negocio con una visión macroeconómica y dirigida. 

4. Criterios para la evaluación de, inversiones y administración de riqueza. 

5. Criterios para detectar fraudes y negocios infructuosos

6. Tendencias globales, e impacto financiero.

7. Nuevas tendencias monetarias.

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1st Anniversary Trader2Trader, Thank you! + Top 5 Posts

1st Anniversary Trader2Trader, Thank you! + Top 5 Posts

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Top 5 Post 2012-2013 (Most Views)

#5 

Trader Psychology – The Dangers of “Analysis Paralysis”

#4

Historical Coffee Prices – 1980 – 2013

#3

Historic Bubbles – Tulip Mania – 1637

#2

Trading Cheat Sheet #1 – Candle Formations

#1

Historic Bubbles – South Sea Company 1720

1st Anniversary Trader2Trader, Thank you! + Top 5 Posts

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I am a Speaker at the TradersWorld Expo #13

I am a Speaker at the TradersWorld Expo #13

I am a speaker for the second consecutive year at the Tradersworld Expo #13 together with 35+ expert Traders.

My topic is entitled “7 Dogmas of Traders”.   An e-book was also launched with the name “Finding your Trading Method” and has hit #1 Best seller at Amazon.com 

Here are the links to enter my presentation at the expo (open until the 29th) and access the Kindle Book.

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Tradersworld Expo #13 Link

Speaker Schedule List 

Directly to my presentation “7 Dogmas of Traders”

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Kindle Book “Finding your Trading Method”

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Hope you enjoy it, let me know what you think? Best of luck in your trading. Dimitri Feria


Trader Quote #26

Trader Quote #26

“It’s not whether you’re right or wrong that’s important, 
but how much money you make when your right and how much you lose when you’re wrong” George Soros

==== This quote is from one of the greatest traders & investors of our times. It is rather simple and straight to the point thus it should be taken this way.

Dont focus on the calls you made Right or Wrong rather focus on how much you Loose when you are wrong and how much you Make when you are right!

It is basic math and should be incorporated in any trading strategy. If your a new or veteran trader this is defenintely the “pivot” rule for the success of any sized-account.

On a series of 10 trades you take, ask yourself how much do i lose on a wrong call and how much do i make on the winning calls. The winning amount should be larger than the lossing one, this way you will know if you are doing it correctly.

Keep risk & money mangement simple and stick to this way of evaulating your  trading performance in the short medium & long term.

Best of luck in your trading, always use stops! Dimitri Feria =====