Matthew Todorovski / Perfil
- Informações
10+ anos
experiência
|
1
produtos
|
554
versão demo
|
0
trabalhos
|
0
sinais
|
0
assinantes
|
“A billion dollars ain’t sh*t, for what I’m tryin’ to do.” (Akon)
http://bit.ly/34dBmRJ
[̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅]
Greetings and salutations fellow entrepreneur. Welcome to my profile.
I hope you will find some inspiration and encouragement here to assist you on your trading journey.
For the best trading conditions, I recommend using the world's largest true-ECN forex broker (2015): http://bit.ly/2t8SCL2
If you are unable to due to regulations, I recommend this one: http://bit.ly/2L9mdd2
Earn CashBack on your trading commissions: http://bit.ly/3ryoceI
If you want answers, this will help you: https://bit.ly/3gfkBM0
Thank you for visiting my profile.
May you enjoy many green pips!
Matt Todorovski
Maverick trader, currency speculator, professional gambler
◦ Computer Operator, Technological micro Data (2003-2006)
◦ Shop Assistant, Woolworths Supermarkets (2005 - 2017)
◦ Security Officer, [undisclosed employer] (2006 - today)
◦ Station Officer, [undisclosed employer] (2008 - today)
◦ Entrepreneur and property investor (2003-2012)
◦ Forex Wannabe, aspired self-employment (2008 - 2018)
◦ Forex Millionaire, achieved self-employment (2018 - today)
◦ Forex Trillionaire, achieved financial freedom (fait accompli): https://bit.ly/3e0fNcA
My opinion is gratuitous, your munificence is magnanimous!
http://bit.ly/34dBAs3
◦ High Hopes: http://bit.ly/2PbuVKp
◦ Remember The Name: http://bit.ly/2YCE02h
◦ Trader’s Anthem: http://bit.ly/2YIT2DC
THIS IS NOT DEMO
__________________________________________________
►MODERN DAY ALCHEMY: CREATING MONEY FROM "NOTHING"
"Before you start some work, always ask yourself three questions - Why am I doing it, What the results might be and Will I be successful. Only when you think deeply and find satisfactory answers to these questions, go ahead." (Chanakya, Indian teacher, philosopher, economist, jurist and royal advisor, c.371-283 BC)
➊ AIM
To generate a perpetual income on auto-pilot.
➋ HYPOTHESIS
▸ Hypothesis 1:
Foreign Exchange (forex) is the PRE-EMINENT method to make money:
◦ http://bit.ly/35d2v8p
◦ http://bit.ly/2Pem36Z
The benefits compared to conventional business, property, shares, etc:
◦ greater profit potential (high leverage, volatility) (Time + Leverage = Profit);
◦ lower entry barriers: easier to get started, few overhead costs (no employees, no inventory);
◦ highly liquid: immediate entry & exit of the market;
◦ better risk management: custom position sizing between 0.01 - 100 Lots, using trading strategies (eg. hedging);
◦ business-automation: trading robots (Expert Advisors);
◦ market is open 24 hours x 5 days: more trade opportunities, work when you choose;
◦ simplicity: fewer instruments to analyse and trade;
◦ ease of tax calculations: trading statements provide all evidence;
◦ scalability: ease of multiplying results;
◦ enormous volume: market manipulation more difficult;
◦ geographic independence: trade anywhere, mobile business;
◦ recession-proof: business continuity unaffected by disasters, macroeconomics, etc.;
◦ immediate analysis: obtain an accurate "statement of financial position" at all times.
"The most successful investors don't diversify. Rather, they FOCUS (Follow-One-Course-Until-Successful) and specialize. They get to know the investment category they invest in and how the business works better than anyone else." (Robert Kiyosaki, American businessman and author)
“Wide diversification is only required when investors do not understand what they are doing.” (Warren Buffett, American business magnate, investor, speaker and philanthropist)
“The price of a commodity will never go to zero. When you invest in commodities futures, you are not buying a piece of paper that says you own an intangible of a company that can go bankrupt.” (Jim Rogers, American businessman and financial commentator)
▸ Hypothesis 2:
"All unsustainable moves are corrected." (Scott Barkley, Forex Trainer and analyst, President ProAct Traders)
"This makes sense when you step back and look at the big picture. Nothing goes up in a straight line forever. Not stocks. Not real estate. Not anything. There always have to be periods of corrections… booms followed by busts." (Simon Black, international investor, entrepreneur, founder of Sovereign Man)
➌ EQUIPMENT / PREREQUISITES
☐ reliable external income source;
☐ Australian Business Number (ABN);
☐ Personal Computer (PC) with ADSL internet;
☐ FSA/ASIC-regulated ECN/STP broker (recommended: http://bit.ly/2t8SCL2 );
☐ Virtual Private Server (VPS) or Dedicated Server (DS);
☐ MetaTrader 4 (MT4) trading platform;
☐ minimum $10,000 risk capital;
☐ Expert Advisor (EA) trading robot (recommended EA here: https://bit.ly/3aDT7i1 )
☐ registered tax agent;
☐ determination, fortitude, patience, courage, FOCUS.
➍ METHOD OF PROCEDURE (MOP)
☐ have a reliable income source eg. a JOB (Just Over Broke) or a solid conventional business;
☐ register an ABN for taxation purposes;
☐ open a free $10,000 DEMO account at a regulated broker: http://bit.ly/2t8SCL2
☐ obtain a VPS (broker-sponsored or direct from provider);
☐ install MT4 terminal from broker's website;
☐ install EA on MT4 terminal;
☐ backtest EA in MT4's Strategy Tester;
☐ forward test EA on Demo Account for at least three months;
☐ destroy useless robots: http://bit.ly/2sm1OuV
☐ pending satisfactory forward test, open a Real account with a minimum $10,000 risk capital;
☐ register Real account for rebates on broker commissions at www.rebatekingfx.com
☐ retain all trading statements and expense receipts for taxation;
☐ DON’T GIVE UP: if you fail, return to Step 6;
☐ cumulatively compound profits;
☐ declare all profits and pay your tax honestly;
☐ regularly withdraw profits, maintaining sufficient margin at all times;
☐ upgrade VPS to DS; use FIX API trade execution;
☐ make a positive difference to the world; be generous and help others.
➎ SAFETY/RISKS
▸ Forex trading involves a high degree of risk, including the loss of your entire investment:
◦ Do not invest money you cannot afford to lose;
◦ Do not trade unless you understand the risks;
◦ Past performance is no guarantee of future performance;
◦ Results will vary depending upon broker conditions, VPS provider and EA settings.
▸ Market odds are 1:1 - either up or down. That's better odds than the casino, sports betting and lottery. You then improve your odds by observing:
◦ Long-Term Support / Resistance levels;
◦ Long-Term Overbought / Oversold levels (correlations of same currency with different pairs);
◦ 4H, Daily, Weekly charts;
◦ Fibonacci confirmations;
◦ positive Swaps;
◦ fundamentals and market dynamics.
▸ Forex is the fastest way to wealth and paradoxically to penury. Before considering VPS costs, broker commissions, latency, slippage, low liquidity, etc., the odds are mathematically stacked against you:
◦ a loss of 10% requires a gain of 11.11% to recover;
◦ a loss of 20% requires a gain of 25% to recover;
◦ a loss of 30% requires a gain of 42.86% to recover;
◦ a loss of 40% requires a gain of 66.67% to recover;
◦ a loss of 50% requires a gain of 100% to recover.
▸ Risks in forex include:
◦ high leverage;
◦ broker conditions;
◦ "Black Swan" events: eg. Swiss Franc January 2015, Brexit June 2016, GBPUSD Flash Crash October 2016, Yen Flash Crash January 2019;
◦ News events eg. NFP, FOMC;
◦ strategy, user settings, programming quality of EA or system;
◦ "opportunity cost" when losing time or money.
"Many great entrepreneurs have had a moment when they have lost everything. Monks create this situation intentionally through 'Vairagya' when they give up all money and possessions. Many entrepreneurs end up in the same situation unintentionally." (Roger Hamilton, world renowned futurist and social entrepreneur, http://bit.ly/2E552px )
"A wise man says: 'HIGH RISK HIGH PROFIT, LOW RISK LOW PROFIT, AND NO RISK NO PROFIT.'
Another wise man says: 'THERE IS A DIFFERENCE BETWEEN TAKING RISK AND BEING FOOLISH.' (anon)
➏ RESULTS
Archived Myfxbook profile: http://bit.ly/2EaQVPA
Current Myfxbook profile: http://bit.ly/2YLQp40
THIS IS NOT DEMO
▸ TAX ASSESSED BUSINESS PROFIT (LOSS):
FY2009: $ (30,499) $5,300 refund
FY2010: $ (37,280) plus $3,693 debt (wrong tax treatment)
FY2011: $ (19,288) plus $5,448 debt (wrong tax treatment)
FY2012: $ (2,904) plus $9,681 debt (wrong tax treatment)
FY2013: $ (159,324) $18,973 refund
FY2014: $ (74,721) $16,719 refund
FY2015: $ (71,542) $18,958 refund
FY2016: $ (91,413) $23,272 refund
FY2017: $ (58,031) $11,758 refund
FY2018: $ (137,530) $29,710 refund
FY2019: $ (1,376,387) $23,496 refund (future tax offset: $1,478,678)
FY2020: $ (213,177) $27,672 refund
FY2021: $ ...
▸ MILESTONES:
$32,000: invested $4k and made 800% return in 4.5 days using CFDs (Aug 2008)
$1.69: started primary account 313166 (22 Nov, 2013)
-$327,127: nadir of primary account 313166 (27 Aug, 2018)
$0 profit: zero point of primary account 313166 (27 Sep, 2018)
$1 million net profit: Posted 9 Oct, 2018
$2 million net profit: Achieved 16 Oct, 2018
$4 million net profit: Achieved 19 Oct, 2018
$6 million net profit: Achieved 1 Nov, 2018
$8 million net profit: Achieved 28 Nov, 2018
$10 million net profit: Posted 4 Dec, 2018
$11 million net profit: Posted 5 Dec, 2018
$12 million net profit: Posted 13 Dec, 2018
$13 million net profit: Posted 21 Dec, 2018
$13.5 million loss (approx) (96%): Posted 3 Jan, 2019
◦ http://bit.ly/2sm431j
◦ http://bit.ly/2E6tvdR
$604: nadir of 20 accounts. Posted 06 June 2020.
$100 million net profit: Posted... http://bit.ly/2sm3i8s
$1 billion net profit: Posted...
$10 billion net profit: Posted...
$100 billion net profit: Posted...
$1 trillion net profit: Posted... http://bit.ly/2ShTeHb
▸ Other examples:
◦ "Gann held a trading record which has been unsurpassed by anyone since. In front of a customs inspector he turned $130 into $12,000 in less than 1 month." ( http://bit.ly/2sn9zkj )
◦ http://bit.ly/34ep3V0
◦ http://bit.ly/2E9iRTL
"Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner.” (Robert De Niro, American actor)
“When I thought I couldn't go on, I forced myself to keep going. My success is based on persistence, not luck.” (Norman Lear, American television writer)
“You may be disappointed if you fail, but you are doomed if you don't try.” (Beverly Sills, American operatic soprano)
"The AMOUNT of money you have does not matter; what matters is the SYSTEM you use. No AMOUNT of money can save you if you have a bad SYSTEM. Conversely, if you have a good SYSTEM you can start with a small AMOUNT and easily become rich." (Matthew Todorovski)
➐ DISCUSSION
▸ Trading vs Gambling
With experience comes understanding. By this method you will tell who has experience and who has none:
◦ traders with little experience will resent comparisons between "trading" and "gambling" as anathema.
◦ traders with much experience will understand "trading is by very definition gambling".
Refer:
◦ Rule 4 and 5 "Michael Steinhart" (below)
◦ http://bit.ly/2sjo1K6
◦ https://bit.ly/39uiF0m
◦ http://bit.ly/2sjoR9I
◦ http://bit.ly/2PbxvA5
◦ http://bit.ly/35azWZy
◦ http://bit.ly/2E7FckD
◦ http://bit.ly/2PbFFse
◦ http://bit.ly/2E57355
◦ http://bit.ly/2seGd7Y
◦ http://bit.ly/35daCSF
◦ http://bit.ly/349kV8L
◦ http://bit.ly/2qMvuBe
◦ http://bit.ly/2seGub0
◦ http://bit.ly/2P9PGWZ
◦ http://bit.ly/35eSwPZ
◦ http://bit.ly/2E9bpbu
◦ http://bit.ly/2U3I7lW
◦ http://bit.ly/38bBnuN
▸ Expert Advisors
There is a plethora of Expert Advisors (EA) to consider. Essential criterion include:
◦ positive user reviews: http://bit.ly/35cYcKv
◦ verified Real monitoring account(s) with over three months' trade history;
◦ prompt and helpful pre-sales / after-sales support;
◦ fair price and license options;
◦ details of trading strategy;
◦ clear user instructions: pairs, timeframes, parameters;
◦ margin requirements.
◦ During Demo forward test performance, confirm:
- suitability of broker trading conditions;
- EA settings for desired performance;
- reasonable frequency of trading;
- stable EA operations.
◦ Red flags to avoid:
- excessive server messages;
- large StopLoss in comparison to TakeProfit;
- Lotsize increases;
- multiple orders.
▸ Curriculum Vitae
◦ 2003-2008: I attended many investment seminars on shares, property, options, etc. Spent upwards of approximately AUD$50,000.
◦ Oct 2008: I became interested in forex during the GFC (Global Financial Crisis) of 2008, when front-page news highlighted the opportunity. For the first time ever, the Aussie Dollar reached parity with the US Dollar (August 2008) and my first foray into forex began with CFDs at CMC Markets. I heavily sold AUDUSD, turning $4K into $32K within 4.5 days from the Monday until Friday afternoon, but my account was over-leveraged to the extent that open profit dropped by $10K to $22K within 30 minutes! At US$0.89 I decided the market still had a long way to go down, so I kept my positions open expecting I would survive. Unfortunately, the market corrected to US$0.92 and I received my first ever margin call. It was a thrilling learning experience and I was convinced!
◦ 2008-2018: Many hopeful moments, but overall results were quite depressive and devastating. The main failures were over-leveraging, risk-taking, overconfidence (in my own skills and EAs) and impatience. Estimated trading losses approximated AUD$700K(?), but be reminded:
- "You pay for education, whether university or real-life experience";
- "No one becomes successful from Day 1";
- “Nothing worth doing is ever easy" (Theodore Roosevelt, American statesman and writer, 26th POTUS, 1858-1919);
- "Make all your mistakes early in life" (Rule 1 “Michael Steinhardt”, below).
- Losses are offset against Assessable Tax Income with an ABN business. A good tax agent is essential - the difference can be seen in Results above.
◦ Sep 2018: I stopped focusing on low timeframes of 1M, 5M, 15M, 1H, and began focusing on high timeframes of 4H, Daily, and Weekly. With AUD$50,000 ($20K of savings + $30K FY2018 tax refund), I happen-chanced upon the CHFSGD being overbought and nearing long-term resistance after seven-straight Long days. Short CHFSGD was Swap-positive, so even more encouragement to hold the positions for the ride down! I Shorted heavily and made over 800% in less than a month (posted 28 Sep 2018).
◦ Oct 2018: I Shorted EURTRY and boosted my equity from $450K to over $9M (29 November 2018). I could have made at least three times as much, if not for my broker's Trading Desk coercing me to reduce my exposure by half, under duress of reduced leverage. Exposure was reduced by 70%, from 670 Lots to only 200 Lots (posted 16 Oct 2018). Refer Rule 4 and 6 “Michael Steinhart” (below). Opened 20 new broker accounts and received broker sponsorship for 12 new VPS. Daily profits exceeded $100k; monthly volumes exceeded 20,000 Lots (broker rebate = USD$58,000 / 0.375 / $7(RTL).
◦ Jan 2019: Yen Flash Crash costs me $13.5 million (approx. 96% loss) (posted 3 Jan, 2019) due to a combination of factors:
- mirroring the same system and settings to all accounts;
- trading many pairs (correlation risk);
- increasing Risk by 40x;
- splitting money across 20 accounts (lowered available margin);
- not using an equity stoploss;
- exceptional market conditions.
◦ Jan 2020: consolidated 12 VPS (20 accounts) onto one broker-sponsored DS. Use of FIX API.
➑ CONCLUSION
To be DETERMINED...
◦ To be determined: (inconclusive, future tense) to ascertain or establish exactly by research or calculation;
◦ (It has been) DETERMINED: (conclusive, past participle) has been proven definitively; learnt with certainty or assurance; facts have been ascertained.
◦ DETERMINATION will overcome any obstacle: http://bit.ly/35boXik
Prepare yourself for success ( http://bit.ly/34ffNjw )
"The biggest challenge after success is shutting up about it." (Criss Jami, American poet, essayist, philosopher, songwriter, creator/designer)
"Success unshared is failure." (John Paul DeJoria, Greek-Italian-American entrepreneur, a self-made billionaire, philanthropist)
"Don't blame Wall Street. Don't blame the big banks. If you don't have a job and you're not rich, blame yourself!" (Herman Cain, American Politician)
___________________________________________________
►HALL OF SHAME
“Our critics make us strong! Our fears make us bold! Our haters make us wise! Our foes make us active! Our obstacles make us passionate! Our losses make us wealthy! Our disappointments make us appointed! Our unseen treasures give us a known peace! Whatever is designed against us will work for us!” (Israelmore Ayivor, writer)
▸ DISSES
Recorded herein for posterity. All made before I turned $50,000 into $13million in Sep-Oct 2018.
“Matthew you are poor man! The worst trader I know! Probably the worst trader in the world! Why do you comment free products that you are not interest in and you do not know nothing about these products, you financial moron! Just for points? It is your new way of making money? Anyone who lost less money than you is better trader than you!!! Even koala bear LMAO!" (Krzysztof Lorenc, hater, 2018)
“You can't stop, you have an addiction, that's a serious problem. You are mentally sick; you need to see a psychologist." (M. Garwarzad, hater, 2018)
“You were greedy. You should have listened to me all those years ago (2008?) and invested in houses. Houses were $300 K, now they are over $1 million. You could have had a few houses by now. The rent helps pay them off. You could have been retired by [age] 40 (currently 35). You should cut your losses now and stop your gambling. Take out whatever money you have left and invest in gold. Fiat currency is going to be worthless. We are going to see a depression worse than 1930. You have wasted all your money. You wouldn't have to keep working three jobs if you had listened to me back then. You [had] better start saving or else if you lose your job you will have nothing. What will happen if you can't work? If you fall sick? You won't be able to afford medical expenses, and you won't be able to afford rent. You will be out on the streets (begging). Start putting some money away in a savings account. You're lucky you're not in jail for losing all that money." (K. Morel, hater, 2018)
“Quit while you're ahead. Take it out. You should take the money out and buy a property. You don't know what's going to happen (with your health, life, investment, etc.)" (many detractors, most everyone else, 2006-2018)
“You don't really have that money; that is Demo trading." (haters that keep losing, 2018)
▸ REBUTTAL
Forget About Dre: http://bit.ly/2qEFkF4
Broke: http://bit.ly/2P9Mhr8
Why You Always Hatin? http://bit.ly/2E7GQmj
No Love: http://bit.ly/2qHAXJs
Balla Blockin: http://bit.ly/2shCiHv
Lay Low: http://bit.ly/2EaRUzb
IDGAF: http://bit.ly/2smamSx
Fake Ass Bitches: http://bit.ly/2PaZJLm
F*ck Em All: http://bit.ly/2PdfKkc
Fear Nothing: http://bit.ly/2sngOJ1
Killing In the Name: http://bit.ly/2sjvB7w
Titanium: http://bit.ly/2PdrH9B
Till I Die: http://bit.ly/2YIVXMr
I'm a Real 1: http://bit.ly/2E6c7pK
Grew Up A Screw Up: http://bit.ly/348MBe1
I Got the Keys: http://bit.ly/34aMRJx
Forever: http://bit.ly/35eWtEi
Back In Black: http://bit.ly/2Pdkar3
Y.U. MAD: http://bit.ly/2E96CXp
Rollout: http://bit.ly/2sjvYyW
Good Morning: http://bit.ly/2qELgxQ
Bugatti: http://bit.ly/2slCyW0
100 Million: http://bit.ly/2sm3i8s
Cash Flow: http://bit.ly/35eWJDg
All I Do Is Win: http://bit.ly/2YEcm4M
I Made It: http://bit.ly/2E7qPwT
Berzerk: http://bit.ly/2qHkapR
Chillin': http://bit.ly/2sgcgEo
Good Feeling: http://bit.ly/35f9Rsb
My Ass: http://bit.ly/2qJ0r9r
Happy: http://bit.ly/2PcdvgZ
You’re Never Gonna Get It: http://bit.ly/2Pd10BK
Hard Bottoms & White Socks: http://bit.ly/2qELDse
Traders Anthem: http://bit.ly/2YIT2DC
Make It Rain: http://bit.ly/2sm3TqJ
High As Me: http://bit.ly/393hOSr
Hood Rich: http://bit.ly/35ozwic
http://bit.ly/2YDdQwh
http://bit.ly/2YF9rc1
"It doesn’t matter what morons say." (Dan Pena, American businessman and business coach)
“The distance between insanity and genius is measured only by success.” (Bruce Feirstein, American screenwriter)
“Some people try to be tall by cutting off the heads of others.” (Paramahansa Yogananda, Indian yogi and guru, 1893-1952)
“What you habitually think largely determines what you will ultimately become.” (Bruce Lee, Hong Kong-American actor, director, martial artist, martial arts instructor, philosopher, 1940-1973)
"It’s our nature: Human beings like success but they hate successful people." (Carrot Top, American comedian)
"The secret to success is to offend the greatest number of people." (George Bernard Shaw, Irish playwright, critic, polemicist, political activist, 1856-1950)
“The more bold you are, the more rejection you’ll experience.” (Todd Brison, blogger)
"Behind every successful person lies a pack of haters." (Eminem, American rapper)
"Those who try to do something and fail are infinitely better than those who try nothing and succeed." (Lloyd Jones, New Zealand author)
"Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success." (Robert Kiyosaki, American businessman and author)
“It's hard to soar with the eagles when you're surrounded by turkeys.” (Adam Sandler, American actor, comedian, screenwriter, film producer)
"Can you really explain to a fish what it’s like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value." (Warren Buffett, American business magnate, investor, speaker and philanthropist)
"I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite." (G. K. Chesterton, English writer, poet, philosopher, dramatist, journalist, orator, lay theologian, biographer, literary and art critic, 1874-1936)
“Do not save what is left after spending but spend what is left after saving.” (Warren Buffett, American business magnate, investor, speaker and philanthropist)
“Investing puts money to work. The only reason to save money is to invest it.” (Grant Cardone, author, sales trainer, speaker, real estate mogul)
http://bit.ly/2Pc09kH
“A man convinced against his will, stands opposed ever still. A man convinced he is right, gives the effort twice the fight.” (Jeffrey Fry, entrepreneur)
"When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” (Henry Ford, American captain of industry, business magnate, 1863-1947)
"Always bear in mind that your own resolution to succeed is more important than any other one thing." (Abraham Lincoln, American statesman, lawyer, 16th POTUS, 1809-1865)
"If you think you can, you can. And if you think you can’t, you’re right." (Henry Ford, American captain of industry, business magnate, founder Ford Motor Company, 1863-1947)
"Only those who dare to fail greatly can ever achieve greatly." (Robert F. Kennedy, American politician, lawyer, senator, 1925-1968)
"That some achieve great success, is proof to all that others can achieve it as well." (Abraham Lincoln, American statesman, lawyer, 16th POTUS, 1809-1865)
"The super successful also have a different take on failure. They understand that failure is what happens when you do something. The greatest successes in the world also experienced the greatest failures. The all-time strikeout record in major league baseball is held by… Babe Ruth. But we don’t remember him for his strikeouts. We remember him for setting a home run record that stood for decades, long before performance enhancing drugs destroyed America’s love affair with baseball. No one cares about the Babe’s strikeouts. The point is he kept swinging the damn bat! Most of us never get out of the dugout – let alone up to the plate. Those people not only wonder why they never hit a home run – they even begrudge the determined hitters who do." (Dan Pena, American businessman and business coach)
"I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life and that is why I succeed." (Michael Jordan, American former professional basketball player)
"If you have no critics you’ll likely have no success." (Malcolm X, American minister and human rights activist, 1925-1965)
"I’m convinced that about half of what separates successful entrepreneurs from the non successful entrepreneurs is pure perseverance. It is so hard, you pour so much of your life into this thing, there are such rough moments in time, that most people give up. I don’t blame them, it’s really tough." (Steve Jobs, American business magnate, 1955-2011)
"Through perseverance many people win success out of what seemed destined to be certain failure." (Benjamin Disraeli, former British Prime Minister, 1804-1881)
"The distance between insanity and genius is measured only by success." (Bruce Feirstein, American screenwriter)
"The people who succeed are irrationally passionate about something." (Naval Ravikant, CEO Founder AngelList)
“You will fall. And when you fall, the winner always gets up, and the loser stays down.” (Arnold Schwarzenegger, Austrian-American actor, filmmaker, businessman, investor, author, philanthropist, activist, politician, former professional bodybuilder and powerlifter)
"Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing." (Dr. Denis Waitley, American motivational speaker, writer and consultant)
“If you want to increase your success rate, double your failure rate.” (Tom Watson Sr, American businessman, chairman and CEO of IBM, 1874-1956)
"The season of failure is the best time for sowing the seeds of success." (Paramahansa Yogananda, Indian yogi and guru, 1893-1952)
"The master has failed more times than the beginner has even tried." (Stephen McCranie, writer and illustrator)
"Your willingness to fail is what will let you succeed." (Vinod Khosla, Indian American billionaire engineer, businessman, venture capitalist)
"Failure is simply the opportunity to begin again, this time more intelligently." (Henry Ford, American captain of industry, business magnate, 1863-1947)
"But life will become a burden of existence unless you learn how to fail gracefully. There is an art in defeat which noble souls always acquire; you must know how to lose cheerfully; you must be fearless of disappointment. Never hesitate to admit failure. Make no attempt to hide failure under deceptive smiles and beaming optimism. It sounds well always to claim success, but the end results are appalling. Such a technique leads directly to the creation of a world of unreality and to the inevitable crash of ultimate disillusionment." (Urantia Book 160:4.13)
"Many of life’s failures are people who did not realize how close they were to success when they gave up." (Thomas Alva Edison, American inventor and businessman, 1847-1931)
"Our best successes often come after our greatest disappointments." (Henry Ward Beecher, American Congregationalist clergyman, social reformer, speaker, 1813-1887)
"If you set your goals ridiculously high and it’s a failure, you will fail above everyone else’s success." (James Cameron, Canadian filmmaker, philanthropist, deep-sea explorer)
"Success is almost totally dependent upon drive and persistence. The extra energy required to make another effort or try another approach is the secret of winning." (Denis Waitley, American motivational speaker)
"Dictionary is the only place that success comes before work. Hard work is the price we must pay for success. I think you can accomplish anything if you’re willing to pay the price." (Vince Lombardi, American football player, coach, executive, 1913-1970)
"Ambition is the path to success. Persistence is the vehicle you arrive in. (Bill Bradley, American politician, former professional basketball player)
"Success consists of going from failure to failure without loss of enthusiasm." (Winston Churchill, British politician, statesman, army officer, writer, 1874-1965)
"The first requisite for success is the ability to apply your physical and mental energies to one problem incessantly without growing weary." (Charles Caleb Colton, English cleric, writer, collector, 1780-1832)
"Optimism is the faith that leads to achievement." (Helen Keller, American author, political activist, lecturer, 1880-1968)
"The only question to ask yourself is, how much are you willing to sacrifice to achieve this success?" (Larry Flynt, American publisher)
"Success comes in cans; failure in can’ts." (Wilfred Peterson, American author, 1900-1995)
"If you really want to do something, you will find a way. If you don’t, you’ll find an excuse." (Jim Rohn, American entrepreneur, author, motivational speaker, 1930-2009)
"Success is my only option, failure’s not." (Eminem, American rapper)
"Fall seven times, stand up eight." (Japanese Proverb)
"Success is the good fortune that comes from aspiration, desperation, perspiration, and inspiration." (Evan Esar, American humorist, 1899-1995)
"Men succeed when they realize that their failures are the preparation for their victories." (Ralph Waldo Emerson, American essayist, lecturer, philosopher, poet, 1803-1882)
"Super success is not for the wishy washy. Victory in business, like war, comes to the toughest son-of-a-bitch in the valley." (Dan Pena, American businessman and business coach)
"Behind every successful man there’s a lot of unsuccessful years." (Bob Brown, former Australian politician, medical doctor, and environmentalist)
"A minute’s success pays the failure of years." (Robert Browning, English poet and playwright, 1812-1889)
"I once read an interview with a hedge fund manager, who had one of his traders lose $50 million on a trade. When asked if he was going to fire that trader, he replied “Are you nuts? We just paid $50 million for him to learn that lesson – why would we pack him up and ship him off to another hedge fund to benefit from it?” (Christopher Lee, independent trader, http://bit.ly/34aZ3ds )
"It is a mistake to suppose that men succeed through success; they much oftener succeed through failures. Precept, study, advice, and example could never have taught them so well as failure has done." (Samuel Smiles, author, 1812-1904)
“Formal education will make you a living; self-education will make you a fortune.” (Jim Rohn, American entrepreneur, author and motivational speaker, 1930-2009)
“To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game.” (Robert Kiyosaki, American businessman and author)
"Out of the 241 trades, 16 of them were responsible for ALL of the profit. Most people in this world can't handle it. Yet, it is the only way I have ever seen anyone make money trading. Ever. I was on Wall Street for 23 years. All of the successful fund managers will have long losing streaks, sometimes lasting 6 months to a year. And then... boom! They let their winners run and they wipe out all of their losses. It is how trading works." (Mark Shawzin, thepatterntrader.com)
"The winners pay for thousands of losers." (Jeff Bezos, CEO of Amazon, http://bit.ly/2YM0vBW )
"To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable." (Edgar Bronfman Sr, Canadian-American businessman and philanthropist, 1929-2013)
"The best revenge is massive success." (Frank Sinatra, American singer, 1915-1998)
____________________________________________________________________________________
►E=MC²: EMANCIPATION (E) = MOTIVATION (M) x CONCENTRATION (C)² (aka. intentioned F.O.C.U.S.)
◦ Motivation (M): http://bit.ly/2PdsTJU
◦ Remember The Name: http://bit.ly/2YCE02h
◦ Always Hardcore: http://bit.ly/2E9saDb
◦ Go Hard: http://bit.ly/2YDgbqW
◦ Work Hard Play Hard: http://bit.ly/35f0oRx
◦ We Made It: http://bit.ly/348OhnP
"The difference between the impossible and the possible lies in a man's DETERMINATION." (Tommy Lasorda, manager Los Angeles Dodgers 1976-1996)
"It always seems impossible until IT'S DONE." (Nelson Mandela, former South African President, 1918-2013)
“You will find that you are not a victim of fate but a victim of faith (your own).” (Neville Goddard, prophet, influential teacher, author, 1905-1972)
"Come what may, all bad fortune is to be conquered by endurance." (Virgil, Roman Poet, 70-19BC)
"Without your involvement you can't succeed. With your involvement you can't fail." (A.P.J Abdul Kalam, scientist, science administrator, 11th President of India, 1931–2015)
"Tough times don’t last. Tough people do." (Dan Pena, American businessman and business coach)
"What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power." (50 Cent, American rapper, singer, songwriter, record producer, actor, businessman, investor)
“Imagination is the beginning of creation. You imagine what you desire, and then you believe it to be true. Every dream could be realized by those self-disciplined enough to believe it.” (Neville Goddard, prophet, influential teacher, and author, 1905-1972)
“Dream is not the thing you see in sleep but is that thing that doesn't let you sleep.” (A.P.J. Abdul Kalam, scientist, science administrator, 11th President of India, 1931–2015)
"The fulfillment of your dream is directly proportional to your desire to succeed… and how much you’re willing to sacrifice. If you are not prepared to die, then you are not prepared to live." (Dan Pena, American businessman and business coach)
"Get rich or die trying." (50 Cent, American rapper, singer, songwriter, record producer, actor, businessman, investor)
"Never say die!" http://bit.ly/349x5yI (DragonBall Z, Akira Toriyama, Japanese manga artist)
"One shouldn't take life so seriously. No one gets out alive anyway.” (Jim Morrison, American singer-songwriter, poet)
"We should not fret for what is past, nor should we be anxious about the future; men of discernment deal only with the present moment." (Chanakya, Indian teacher, philosopher, economist, jurist, royal advisor, c.371-283 BC)
"Much of man's sorrow is born of the disappointment of his ambitions and the wounding of his pride. Although men owe a duty to themselves to make the best of their lives on earth, having thus sincerely exerted themselves, they should cheerfully accept their lot and exercise ingenuity in making the most of that which has fallen to their hands." (Urantia Book 149:5.3)
"If all you have is money, you are among the poorest people in the world. You only become truly rich the day you possess something that money cannot buy.” (Matshona Dhliwayo, philosopher, entrepreneur, author)
"Top 15 things money can’t buy: Time. Happiness. Inner Peace. Integrity. Love. Character. Manners. Health. Respect. Morals. Trust. Patience. Class. Common sense. Dignity." (Roy T. Bennett, author)
“While wealth will be a capricious shadow to our lives, true riches lie in strength of character; that is infinitely harder to accumulate. It is the only gold that enhances our potential in terms of what we can offer the world.” (Salma Farook, author)
"A wise person should have money in their head, but not in their heart." (Jonathan Swift, Anglo-Irish satirist, essayist, poet, 1667-1745)
“Does not Dionysius seem to have made it sufficiently clear that there can be nothing happy for the person over whom some fear always looms?" (Sword of Damocles, Tusculan Disputations, Marcus Tullius Cicero, 106-43BC)
"Wealth consists not in having great possessions, but in having few wants." (Epictetus, Greek Stoic philosopher, 50-135AD)
"Just ignore whoever isn't willing to share; don't expect money when you give bread to a beggar." (anon)
"If the faith of the Most High has entered your heart, then shall you abide free from fear throughout all the days of your life. Fret not yourself because of the prosperity of the ungodly; fear not those who plot evil; let the soul turn away from sin and put your whole trust in the God of salvation. The weary soul of the wandering mortal finds eternal rest in the arms of the Most High; the wise man hungers for the divine embrace; the earth child longs for the security of the arms of the Universal Father. The noble man seeks for that high estate wherein the soul of the mortal blends with the spirit of the Supreme. God is just: What fruit we receive not from our plantings in this world we shall receive in the next.” ' (Urantia Book 131:1.9)
"...the object of fear is fear itself. "Nothing," says Seneca, "is terrible in things except fear itself." And Epictetus says, "For it is not death or hardship that is a fearful thing, but the fear of death and hardship." Our anxiety puts frightening masks over all men and things. If we strip them of these masks their own countenance appears and the fear they produce disappears. This is true even of death. Since every day a little of our life is taken from us - since we are dying every day - the final hour when we cease to exist does not of itself bring death; it merely completes the death process. The horrors connected with it are a matter of imagination. They vanish when the mask is taken from the image of death." (Paul Tillich, author, The Courage To Be, p.19)
'One day when Ganid asked Jesus why he had not devoted himself to the work of a public teacher, he said: “My son, everything must await the coming of its time. You are born into the world, but no amount of anxiety and no manifestation of impatience will help you to grow up. You must, in all such matters, wait upon time. Time alone will ripen the green fruit upon the tree. Season follows season and sundown follows sunrise only with the passing of time. I am now on the way to Rome with you and your father, and that is sufficient for today. My tomorrow is wholly in the hands of my Father in heaven.” And then he told Ganid the story of Moses and the forty years of watchful waiting and continued preparation.' (Urantia Book 130:5.3)
"To ask is the first important step. To continue to ask never allows the process to move beyond the asking stage. First ask, assume the answer is on its way and then continue to express appreciation that it is happening in its own perfect wisdom and timing. That 'wisdom and timing' is greatly influenced by the one asking and how well that awareness is able to follow through with the two remaining steps after the initial asking. This is often called prayer. Nothing can happen until there is first asking. Then the next two steps, assuming it is happening (continued FOCUS of intent) and expression of appreciation (allowance) controls the manifestation. It is that simple! A few additional details are helpful. Ask within a framework that allows what might be called 'Divine Intelligence' or thought thinking to fill in the details. Doubt destroys results; trust insures them." (anonymous, Vol III: Becoming, http://bit.ly/2EaUncY )
"Try and leave this world a little better than you found it, and when your turn comes to die, you can die happy in feeling that at any rate, you have not wasted your time but have done your best." (Robert Baden-Powell, British Army officer, writer, author)
"The satisfying joy of high duty is the eclipsing emotion of spiritual beings. Sorrow cannot exist in the face of the consciousness of divine duty faithfully performed. And when man’s ascending soul stands before the Supreme Judge, the decision of eternal import will not be determined by material successes or quantitative achievements; the verdict reverberating through the high courts declares: 'Well done, good and faithful servant; you have been faithful over a few essentials; you shall be made ruler over universe realities.'" (Urantia Book 25:1.6)
13 “When, through and by the ministry of all the helper hosts of the universal scheme of survival, you are finally deposited on the receiving world of Havona, you arrive with only one sort of perfection — perfection of purpose. Your purpose has been thoroughly proved; your faith has been tested. You are known to be disappointment proof. Not even the failure to discern the Universal Father can shake the faith or seriously disturb the trust of an ascendant mortal who has passed through the experience that all must traverse in order to attain the perfect spheres of Havona. By the time you reach Havona, your sincerity has become sublime. Perfection of purpose and divinity of desire, with steadfastness of faith, have secured your entrance to the settled abodes of eternity; your deliverance from the uncertainties of time is full and complete; and now must you come face to face with the problems of Havona and the immensities of Paradise, to meet which you have so long been in training in the experiential epochs of time on the world schools of space.
14 Faith has won for the ascendant pilgrim a perfection of purpose which admits the children of time to the portals of eternity. Now must the pilgrim helpers begin the work of developing that perfection of understanding and that technique of comprehension which are so indispensable to Paradise perfection of personality.
15 Ability to comprehend is the mortal passport to Paradise. Willingness to believe is the key to Havona. The acceptance of sonship, co-operation with the indwelling Adjuster, is the price of evolutionary survival.”
(Urantia Book 26:4.13-15)
“But long before reaching Havona, these ascendant children of time have learned to feast upon uncertainty, to fatten upon disappointment, to enthuse over apparent defeat, to invigorate in the presence of difficulties, to exhibit indomitable courage in the face of immensity, and to exercise unconquerable faith when confronted with the challenge of the inexplicable. Long since, the battle cry of these pilgrims became: “In liaison with God, nothing—absolutely nothing—is impossible.” (Urantia Book 26:5.3)
2 The eternal purpose of the eternal God is a high spiritual ideal. The events of time and the struggles of material existence are but the transient scaffolding which bridges over to the other side, to the promised land of spiritual reality and supernal existence. Of course, you mortals find it difficult to grasp the idea of an eternal purpose; you are virtually unable to comprehend the thought of eternity, something never beginning and never ending. Everything familiar to you has an end.
3 As regards an individual life, the duration of a realm, or the chronology of any connected series of events, it would seem that we are dealing with an isolated stretch of time; everything seems to have a beginning and an end. And it would appear that a series of such experiences, lives, ages, or epochs, when successively arranged, constitutes a straightaway drive, an isolated event of time flashing momentarily across the infinite face of eternity. But when we look at all this from behind the scenes, a more comprehensive view and a more complete understanding suggest that such an explanation is inadequate, disconnected, and wholly unsuited properly to account for, and otherwise to correlate, the transactions of time with the underlying purposes and basic reactions of eternity.
4 To me it seems more fitting, for purposes of explanation to the mortal mind, to conceive of eternity as a cycle and the eternal purpose as an endless circle, a cycle of eternity in some way synchronized with the transient material cycles of time. As regards the sectors of time connected with, and forming a part of, the cycle of eternity, we are forced to recognize that such temporary epochs are born, live, and die just as the temporary beings of time are born, live, and die. Most human beings die because, having failed to achieve the spirit level of Adjuster fusion, the metamorphosis of death constitutes the only possible procedure whereby they may escape the fetters of time and the bonds of material creation, thereby being enabled to strike spiritual step with the progressive procession of eternity. Having survived the trial life of time and material existence, it becomes possible for you to continue on in touch with, even as a part of, eternity, swinging on forever with the worlds of space around the circle of the eternal ages. (Urantia Book 32:5.2-4)
"When persons search for God, they are searching for everything. When they find God, they have found everything." (Urantia Book 117:6.9)
"In the madness of materialism the West delivers its great thinkers to the graveyard of thoughts, and tramples those in the dirt, who wish to abjure this madness with strong and holy words." (Prince V. F. Odoyevsky, Russian philosopher)
"The height of sophistication is simplicity. (Clare Boothe Luce, American author, politician, U.S. Ambassador, 1903-1987)
“He who succeeds in raising himself above his emotions in suppressing in himself anger and the fear of illness, is capable of overcoming the attrition of the years and attaining an age at least double that at which men now die of old age.“ (Adamus St. Germain, 1710–1784)
"This above all: to thine own self be true, And it must follow, as the night the day, Thou canst not then be false to any man." (William Shakespeare, English poet, 1564-1616)
The opposite of FEAR (False Evidence Appearing Real) is FAITH (the First Attribute In Thinking Healthy): https://bit.ly/2UWSnNk
◦ http://bit.ly/2QzdKms
◦ http://bit.ly/358ugiB
◦ www.urantia.org
◦ http://bit.ly/2EaT5yp
◦ http://bit.ly/2PevSSc
◦ www.nohoax.com
◦ http://bit.ly/349tIHN
◦ http://bit.ly/2EaURQk
◦ http://bit.ly/2E5geCy
◦ http://bit.ly/35fbIx9
◦ http://bit.ly/2EcAq5e
◦ www.wespenre.com
◦ http://bit.ly/2EaV6Lb
◦ http://bit.ly/347ylCk
◦ http://bit.ly/2WARhte
◦ http://bit.ly/2UaSWny
◦ http://bit.ly/2y6jJsJ
◦ http://bit.ly/2xak9y9
____________________________________________________________________________________________
►HOW TO INVEST LIKE... MICHAEL STEINHARDT (American investor, hedge fund manager, and philanthropist)
By Filipe R. Costa
▸ A FEW TRADING RULES
In a speech back in 2004, Steinhardt mentioned a few trading rules that he believes to be critical to achieving a successful investment performance. They can be summarised as follows:
1/Make all your mistakes early in life.
Steinhardt is very pragmatic and believes that the most important part of learning comes from one's own mistakes. Investors learn from their bad experiences and become aware of what works and what does not.
2/Always make your living doing something you enjoy.
This allows the commitment to the whole investment process to be strong, which is a requirement in a competitive world. Basically, investment is about brain and heart.
3/Be intellectually competitive.
Investment is a continuous process requiring supervision and action even before some particular asset is selected and added to a portfolio. Constant research is always required to gain an advantage over the market in order to "sense a major change coming in a situation, before anyone else". Sensing the market before all others do has always been a top priority for Steinhardt; it is this that led him to go over his firm's portfolio six times a day, and rendered him the sobriquet Captain Ahab.
4/Make good decisions even with incomplete information.
It is a good idea to gather as much information as possible before entering any single trade, but the available information will never be complete or perfect. Investors need to be trained to work on the facts, figure out what does matter, and take the right trading decisions before all others gain awareness of the situation. They then need to have the courage to put sufficient money behind the trade to achieve a meaningful outcome.
5/Always trust your intuition.
Over the years, investors develop and refine an ability to take the best decisions on their intuition. But this intuition doesn't come from a gut feeling or a hunch. Rather, it is a complex process deriving from the investor's cumulative learning over the years. It's wisdom, like that of a fruit seller guessing weights without a scale. It's an educated intuition.
6/Don't make small investments.
Amazon's stock price climbed from $38 to $820 during the last 10 years, a 2,160% rise. Had you invested $10,000 you would have a respectable $216,000 position by now. But had you invested just $100 you would have missed a potentially life-changing opportunity. After spending so much time and effort researching an asset, investors must make sure that the rewards from the money at risk are meaningful.
▸ A FEW FINAL WORDS
Steinhardt's variant perception is a contrarian approach to the market, but one under which opposing market sentiment is insufficient. Timing is everything. Just because sentiment is very bullish, which is usually the case near market tops, it doesn't mean it can't be even more bullish the next day (the Nifty-Fifty during the 1960s is a good example of this).Trends often last longer than you can stay solvent betting against them. Investors need a strong instinct for the markets, which takes time to develop and effort to improve. Past experience trading the markets is key, as is knowledge acquired through deep research. Steinhardt doesn't believe in pre-set rules. For him, stop-loss orders, buying on weakness selling on strength breakouts and breakdowns, as well as charts and technical analysis, are all superfluous to a successful strategy. "I look at the stock. It has a fantastic chart. The chart has a base like this, and then if it goes up a little bit more, boy it is a real breakout, blah, blah, blah, blah. They all seem the same to me".
Fundamentals and market timing is what matters the most. And, when the right opportunity surges, investors should embrace it without fear, being flexible enough to be net short as easily as they can be net long, and having the boldness to take on large meaningful positions.
http://bit.ly/2YEHtgB
https://bit.ly/2BR21eR
_________________________________________________________
►DAN PENA'S PENAISMS (American businessman and business coach)
◦ Dream big… and dare to fail!
◦ The more you investigate, the less you have to invest.
◦ Never, ever second-guess yourself.
◦ I’ve never seen a “part-time” super successful, high performance person.
◦ Don’t waste time on things you can’t change.
◦ When you deal with the opinionated or egotistical, always give credit where it isn’t due.
◦ You won’t always have all the answers. Only take seriously the advice of others whom you greatly respect.
◦ The consequences of a misguided decision are insignificant in the cosmos of eternity.
◦ Always shoot for the moon. Even if you don’t hit the bulls-eye, you’ll at least get 80%
◦ Everybody else is worried about life after death. My concern is about life before death.
◦ The business world is divided into people with great ideas, and people who take action on those ideas.
◦ If you want things to change, first you have to change.
◦ A man who dwells on his past, robs his future.
◦ There’s a big difference between playing to win and playing not to lose.
◦ The only difference between a champ and a chump is “U”.
◦ A good plan executed today is better than a great plan executed next week.
◦ To achieve “hyper-growth”, avert avoidable mistakes, and let your successes run their course. Do more of what you’re doing right – and less of what you’re doing wrong.
◦ Business opportunities abound – but formidable barriers exist. And the biggest barrier is psychological. It is you.
◦ Conventional wisdom is almost always wrong.
◦ Absence of evidence is not evidence of absence. Just because something has never been done doesn’t mean it can’t be done. The fact you have never seen or heard something is not proof that it doesn’t exist.
◦ Every worthy dream has a “pay-price-to-action”. That means you have to give up something to get something. You can’t have it all.
◦ The best way to predict the future is to create it yourself.
◦ I never met a super successful, high performance person who wasn’t enthusiastic.
◦ Whoever said money can’t buy you happiness doesn’t know where to shop.
◦ Excuses are the crutches of the untalented and unambitious.
◦ You’ve known all along it’s tough to be successful. But you’d rather hear the fairy tales.
◦ Always respect the individual on the other side of the deal. He is not as stupid as you may think. And you’re not as smart as you think.
◦ Logic can be a logical process which leads to a wrong conclusion.
◦ It isn’t a case of taking a big chance. It’s a matter of giving yourself a big chance.
◦ The more self-esteem you give others, the more you have. And the more you have, the easier it is to give away.
◦ Most successful people do it poorly until they do it well. Just keep blundering along. You can’t wait until it’s exactly right. The product of your quest for perfection is… paralysis.
◦ A guarantor is a fool with a pen.
◦ No matter how tempting, never accept short-term solutions to long-term problems.
◦ Too many companies try to patch when they should amputate. ‘Let’s reorganize and save this mess’ is a clarion call to disaster. Cut your losses, kick the cuttings out of your way, and move on.
◦ If you want to travel above and beyond the herd, don’t try to be better. Try to be different. Or better yet, be first!
◦ Find your passion and wrap your career around it.
◦ You’ll be motivated by inspiration… or desperation. It’s your choice.
◦ People with low self-esteem protect themselves by not taking risks. High self-esteem gives you the power of confidence to take chances.
◦ Give yourself permission to make mistakes. It’s called learning.
◦ Being all you can be is possible for anyone, but... super success is not for everyone. Period.
◦ Don’t take high performance advice from your peers, family or friends unless they are high performance people themselves.
◦ The road to success is always under construction.
◦ Progress often masquerades as trouble.
◦ Don’t focus on mistakes, focus on the positive “next time”!
___________________________________________________
THIS IS NOT DEMO
http://bit.ly/34dBmRJ
[̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅]
Greetings and salutations fellow entrepreneur. Welcome to my profile.
I hope you will find some inspiration and encouragement here to assist you on your trading journey.
For the best trading conditions, I recommend using the world's largest true-ECN forex broker (2015): http://bit.ly/2t8SCL2
If you are unable to due to regulations, I recommend this one: http://bit.ly/2L9mdd2
Earn CashBack on your trading commissions: http://bit.ly/3ryoceI
If you want answers, this will help you: https://bit.ly/3gfkBM0
Thank you for visiting my profile.
May you enjoy many green pips!
Matt Todorovski
Maverick trader, currency speculator, professional gambler
◦ Computer Operator, Technological micro Data (2003-2006)
◦ Shop Assistant, Woolworths Supermarkets (2005 - 2017)
◦ Security Officer, [undisclosed employer] (2006 - today)
◦ Station Officer, [undisclosed employer] (2008 - today)
◦ Entrepreneur and property investor (2003-2012)
◦ Forex Wannabe, aspired self-employment (2008 - 2018)
◦ Forex Millionaire, achieved self-employment (2018 - today)
◦ Forex Trillionaire, achieved financial freedom (fait accompli): https://bit.ly/3e0fNcA
My opinion is gratuitous, your munificence is magnanimous!
http://bit.ly/34dBAs3
◦ High Hopes: http://bit.ly/2PbuVKp
◦ Remember The Name: http://bit.ly/2YCE02h
◦ Trader’s Anthem: http://bit.ly/2YIT2DC
THIS IS NOT DEMO
__________________________________________________
►MODERN DAY ALCHEMY: CREATING MONEY FROM "NOTHING"
"Before you start some work, always ask yourself three questions - Why am I doing it, What the results might be and Will I be successful. Only when you think deeply and find satisfactory answers to these questions, go ahead." (Chanakya, Indian teacher, philosopher, economist, jurist and royal advisor, c.371-283 BC)
➊ AIM
To generate a perpetual income on auto-pilot.
➋ HYPOTHESIS
▸ Hypothesis 1:
Foreign Exchange (forex) is the PRE-EMINENT method to make money:
◦ http://bit.ly/35d2v8p
◦ http://bit.ly/2Pem36Z
The benefits compared to conventional business, property, shares, etc:
◦ greater profit potential (high leverage, volatility) (Time + Leverage = Profit);
◦ lower entry barriers: easier to get started, few overhead costs (no employees, no inventory);
◦ highly liquid: immediate entry & exit of the market;
◦ better risk management: custom position sizing between 0.01 - 100 Lots, using trading strategies (eg. hedging);
◦ business-automation: trading robots (Expert Advisors);
◦ market is open 24 hours x 5 days: more trade opportunities, work when you choose;
◦ simplicity: fewer instruments to analyse and trade;
◦ ease of tax calculations: trading statements provide all evidence;
◦ scalability: ease of multiplying results;
◦ enormous volume: market manipulation more difficult;
◦ geographic independence: trade anywhere, mobile business;
◦ recession-proof: business continuity unaffected by disasters, macroeconomics, etc.;
◦ immediate analysis: obtain an accurate "statement of financial position" at all times.
"The most successful investors don't diversify. Rather, they FOCUS (Follow-One-Course-Until-Successful) and specialize. They get to know the investment category they invest in and how the business works better than anyone else." (Robert Kiyosaki, American businessman and author)
“Wide diversification is only required when investors do not understand what they are doing.” (Warren Buffett, American business magnate, investor, speaker and philanthropist)
“The price of a commodity will never go to zero. When you invest in commodities futures, you are not buying a piece of paper that says you own an intangible of a company that can go bankrupt.” (Jim Rogers, American businessman and financial commentator)
▸ Hypothesis 2:
"All unsustainable moves are corrected." (Scott Barkley, Forex Trainer and analyst, President ProAct Traders)
"This makes sense when you step back and look at the big picture. Nothing goes up in a straight line forever. Not stocks. Not real estate. Not anything. There always have to be periods of corrections… booms followed by busts." (Simon Black, international investor, entrepreneur, founder of Sovereign Man)
➌ EQUIPMENT / PREREQUISITES
☐ reliable external income source;
☐ Australian Business Number (ABN);
☐ Personal Computer (PC) with ADSL internet;
☐ FSA/ASIC-regulated ECN/STP broker (recommended: http://bit.ly/2t8SCL2 );
☐ Virtual Private Server (VPS) or Dedicated Server (DS);
☐ MetaTrader 4 (MT4) trading platform;
☐ minimum $10,000 risk capital;
☐ Expert Advisor (EA) trading robot (recommended EA here: https://bit.ly/3aDT7i1 )
☐ registered tax agent;
☐ determination, fortitude, patience, courage, FOCUS.
➍ METHOD OF PROCEDURE (MOP)
☐ have a reliable income source eg. a JOB (Just Over Broke) or a solid conventional business;
☐ register an ABN for taxation purposes;
☐ open a free $10,000 DEMO account at a regulated broker: http://bit.ly/2t8SCL2
☐ obtain a VPS (broker-sponsored or direct from provider);
☐ install MT4 terminal from broker's website;
☐ install EA on MT4 terminal;
☐ backtest EA in MT4's Strategy Tester;
☐ forward test EA on Demo Account for at least three months;
☐ destroy useless robots: http://bit.ly/2sm1OuV
☐ pending satisfactory forward test, open a Real account with a minimum $10,000 risk capital;
☐ register Real account for rebates on broker commissions at www.rebatekingfx.com
☐ retain all trading statements and expense receipts for taxation;
☐ DON’T GIVE UP: if you fail, return to Step 6;
☐ cumulatively compound profits;
☐ declare all profits and pay your tax honestly;
☐ regularly withdraw profits, maintaining sufficient margin at all times;
☐ upgrade VPS to DS; use FIX API trade execution;
☐ make a positive difference to the world; be generous and help others.
➎ SAFETY/RISKS
▸ Forex trading involves a high degree of risk, including the loss of your entire investment:
◦ Do not invest money you cannot afford to lose;
◦ Do not trade unless you understand the risks;
◦ Past performance is no guarantee of future performance;
◦ Results will vary depending upon broker conditions, VPS provider and EA settings.
▸ Market odds are 1:1 - either up or down. That's better odds than the casino, sports betting and lottery. You then improve your odds by observing:
◦ Long-Term Support / Resistance levels;
◦ Long-Term Overbought / Oversold levels (correlations of same currency with different pairs);
◦ 4H, Daily, Weekly charts;
◦ Fibonacci confirmations;
◦ positive Swaps;
◦ fundamentals and market dynamics.
▸ Forex is the fastest way to wealth and paradoxically to penury. Before considering VPS costs, broker commissions, latency, slippage, low liquidity, etc., the odds are mathematically stacked against you:
◦ a loss of 10% requires a gain of 11.11% to recover;
◦ a loss of 20% requires a gain of 25% to recover;
◦ a loss of 30% requires a gain of 42.86% to recover;
◦ a loss of 40% requires a gain of 66.67% to recover;
◦ a loss of 50% requires a gain of 100% to recover.
▸ Risks in forex include:
◦ high leverage;
◦ broker conditions;
◦ "Black Swan" events: eg. Swiss Franc January 2015, Brexit June 2016, GBPUSD Flash Crash October 2016, Yen Flash Crash January 2019;
◦ News events eg. NFP, FOMC;
◦ strategy, user settings, programming quality of EA or system;
◦ "opportunity cost" when losing time or money.
"Many great entrepreneurs have had a moment when they have lost everything. Monks create this situation intentionally through 'Vairagya' when they give up all money and possessions. Many entrepreneurs end up in the same situation unintentionally." (Roger Hamilton, world renowned futurist and social entrepreneur, http://bit.ly/2E552px )
"A wise man says: 'HIGH RISK HIGH PROFIT, LOW RISK LOW PROFIT, AND NO RISK NO PROFIT.'
Another wise man says: 'THERE IS A DIFFERENCE BETWEEN TAKING RISK AND BEING FOOLISH.' (anon)
➏ RESULTS
Archived Myfxbook profile: http://bit.ly/2EaQVPA
Current Myfxbook profile: http://bit.ly/2YLQp40
THIS IS NOT DEMO
▸ TAX ASSESSED BUSINESS PROFIT (LOSS):
FY2009: $ (30,499) $5,300 refund
FY2010: $ (37,280) plus $3,693 debt (wrong tax treatment)
FY2011: $ (19,288) plus $5,448 debt (wrong tax treatment)
FY2012: $ (2,904) plus $9,681 debt (wrong tax treatment)
FY2013: $ (159,324) $18,973 refund
FY2014: $ (74,721) $16,719 refund
FY2015: $ (71,542) $18,958 refund
FY2016: $ (91,413) $23,272 refund
FY2017: $ (58,031) $11,758 refund
FY2018: $ (137,530) $29,710 refund
FY2019: $ (1,376,387) $23,496 refund (future tax offset: $1,478,678)
FY2020: $ (213,177) $27,672 refund
FY2021: $ ...
▸ MILESTONES:
$32,000: invested $4k and made 800% return in 4.5 days using CFDs (Aug 2008)
$1.69: started primary account 313166 (22 Nov, 2013)
-$327,127: nadir of primary account 313166 (27 Aug, 2018)
$0 profit: zero point of primary account 313166 (27 Sep, 2018)
$1 million net profit: Posted 9 Oct, 2018
$2 million net profit: Achieved 16 Oct, 2018
$4 million net profit: Achieved 19 Oct, 2018
$6 million net profit: Achieved 1 Nov, 2018
$8 million net profit: Achieved 28 Nov, 2018
$10 million net profit: Posted 4 Dec, 2018
$11 million net profit: Posted 5 Dec, 2018
$12 million net profit: Posted 13 Dec, 2018
$13 million net profit: Posted 21 Dec, 2018
$13.5 million loss (approx) (96%): Posted 3 Jan, 2019
◦ http://bit.ly/2sm431j
◦ http://bit.ly/2E6tvdR
$604: nadir of 20 accounts. Posted 06 June 2020.
$100 million net profit: Posted... http://bit.ly/2sm3i8s
$1 billion net profit: Posted...
$10 billion net profit: Posted...
$100 billion net profit: Posted...
$1 trillion net profit: Posted... http://bit.ly/2ShTeHb
▸ Other examples:
◦ "Gann held a trading record which has been unsurpassed by anyone since. In front of a customs inspector he turned $130 into $12,000 in less than 1 month." ( http://bit.ly/2sn9zkj )
◦ http://bit.ly/34ep3V0
◦ http://bit.ly/2E9iRTL
"Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner.” (Robert De Niro, American actor)
“When I thought I couldn't go on, I forced myself to keep going. My success is based on persistence, not luck.” (Norman Lear, American television writer)
“You may be disappointed if you fail, but you are doomed if you don't try.” (Beverly Sills, American operatic soprano)
"The AMOUNT of money you have does not matter; what matters is the SYSTEM you use. No AMOUNT of money can save you if you have a bad SYSTEM. Conversely, if you have a good SYSTEM you can start with a small AMOUNT and easily become rich." (Matthew Todorovski)
➐ DISCUSSION
▸ Trading vs Gambling
With experience comes understanding. By this method you will tell who has experience and who has none:
◦ traders with little experience will resent comparisons between "trading" and "gambling" as anathema.
◦ traders with much experience will understand "trading is by very definition gambling".
Refer:
◦ Rule 4 and 5 "Michael Steinhart" (below)
◦ http://bit.ly/2sjo1K6
◦ https://bit.ly/39uiF0m
◦ http://bit.ly/2sjoR9I
◦ http://bit.ly/2PbxvA5
◦ http://bit.ly/35azWZy
◦ http://bit.ly/2E7FckD
◦ http://bit.ly/2PbFFse
◦ http://bit.ly/2E57355
◦ http://bit.ly/2seGd7Y
◦ http://bit.ly/35daCSF
◦ http://bit.ly/349kV8L
◦ http://bit.ly/2qMvuBe
◦ http://bit.ly/2seGub0
◦ http://bit.ly/2P9PGWZ
◦ http://bit.ly/35eSwPZ
◦ http://bit.ly/2E9bpbu
◦ http://bit.ly/2U3I7lW
◦ http://bit.ly/38bBnuN
▸ Expert Advisors
There is a plethora of Expert Advisors (EA) to consider. Essential criterion include:
◦ positive user reviews: http://bit.ly/35cYcKv
◦ verified Real monitoring account(s) with over three months' trade history;
◦ prompt and helpful pre-sales / after-sales support;
◦ fair price and license options;
◦ details of trading strategy;
◦ clear user instructions: pairs, timeframes, parameters;
◦ margin requirements.
◦ During Demo forward test performance, confirm:
- suitability of broker trading conditions;
- EA settings for desired performance;
- reasonable frequency of trading;
- stable EA operations.
◦ Red flags to avoid:
- excessive server messages;
- large StopLoss in comparison to TakeProfit;
- Lotsize increases;
- multiple orders.
▸ Curriculum Vitae
◦ 2003-2008: I attended many investment seminars on shares, property, options, etc. Spent upwards of approximately AUD$50,000.
◦ Oct 2008: I became interested in forex during the GFC (Global Financial Crisis) of 2008, when front-page news highlighted the opportunity. For the first time ever, the Aussie Dollar reached parity with the US Dollar (August 2008) and my first foray into forex began with CFDs at CMC Markets. I heavily sold AUDUSD, turning $4K into $32K within 4.5 days from the Monday until Friday afternoon, but my account was over-leveraged to the extent that open profit dropped by $10K to $22K within 30 minutes! At US$0.89 I decided the market still had a long way to go down, so I kept my positions open expecting I would survive. Unfortunately, the market corrected to US$0.92 and I received my first ever margin call. It was a thrilling learning experience and I was convinced!
◦ 2008-2018: Many hopeful moments, but overall results were quite depressive and devastating. The main failures were over-leveraging, risk-taking, overconfidence (in my own skills and EAs) and impatience. Estimated trading losses approximated AUD$700K(?), but be reminded:
- "You pay for education, whether university or real-life experience";
- "No one becomes successful from Day 1";
- “Nothing worth doing is ever easy" (Theodore Roosevelt, American statesman and writer, 26th POTUS, 1858-1919);
- "Make all your mistakes early in life" (Rule 1 “Michael Steinhardt”, below).
- Losses are offset against Assessable Tax Income with an ABN business. A good tax agent is essential - the difference can be seen in Results above.
◦ Sep 2018: I stopped focusing on low timeframes of 1M, 5M, 15M, 1H, and began focusing on high timeframes of 4H, Daily, and Weekly. With AUD$50,000 ($20K of savings + $30K FY2018 tax refund), I happen-chanced upon the CHFSGD being overbought and nearing long-term resistance after seven-straight Long days. Short CHFSGD was Swap-positive, so even more encouragement to hold the positions for the ride down! I Shorted heavily and made over 800% in less than a month (posted 28 Sep 2018).
◦ Oct 2018: I Shorted EURTRY and boosted my equity from $450K to over $9M (29 November 2018). I could have made at least three times as much, if not for my broker's Trading Desk coercing me to reduce my exposure by half, under duress of reduced leverage. Exposure was reduced by 70%, from 670 Lots to only 200 Lots (posted 16 Oct 2018). Refer Rule 4 and 6 “Michael Steinhart” (below). Opened 20 new broker accounts and received broker sponsorship for 12 new VPS. Daily profits exceeded $100k; monthly volumes exceeded 20,000 Lots (broker rebate = USD$58,000 / 0.375 / $7(RTL).
◦ Jan 2019: Yen Flash Crash costs me $13.5 million (approx. 96% loss) (posted 3 Jan, 2019) due to a combination of factors:
- mirroring the same system and settings to all accounts;
- trading many pairs (correlation risk);
- increasing Risk by 40x;
- splitting money across 20 accounts (lowered available margin);
- not using an equity stoploss;
- exceptional market conditions.
◦ Jan 2020: consolidated 12 VPS (20 accounts) onto one broker-sponsored DS. Use of FIX API.
➑ CONCLUSION
To be DETERMINED...
◦ To be determined: (inconclusive, future tense) to ascertain or establish exactly by research or calculation;
◦ (It has been) DETERMINED: (conclusive, past participle) has been proven definitively; learnt with certainty or assurance; facts have been ascertained.
◦ DETERMINATION will overcome any obstacle: http://bit.ly/35boXik
Prepare yourself for success ( http://bit.ly/34ffNjw )
"The biggest challenge after success is shutting up about it." (Criss Jami, American poet, essayist, philosopher, songwriter, creator/designer)
"Success unshared is failure." (John Paul DeJoria, Greek-Italian-American entrepreneur, a self-made billionaire, philanthropist)
"Don't blame Wall Street. Don't blame the big banks. If you don't have a job and you're not rich, blame yourself!" (Herman Cain, American Politician)
___________________________________________________
►HALL OF SHAME
“Our critics make us strong! Our fears make us bold! Our haters make us wise! Our foes make us active! Our obstacles make us passionate! Our losses make us wealthy! Our disappointments make us appointed! Our unseen treasures give us a known peace! Whatever is designed against us will work for us!” (Israelmore Ayivor, writer)
▸ DISSES
Recorded herein for posterity. All made before I turned $50,000 into $13million in Sep-Oct 2018.
“Matthew you are poor man! The worst trader I know! Probably the worst trader in the world! Why do you comment free products that you are not interest in and you do not know nothing about these products, you financial moron! Just for points? It is your new way of making money? Anyone who lost less money than you is better trader than you!!! Even koala bear LMAO!" (Krzysztof Lorenc, hater, 2018)
“You can't stop, you have an addiction, that's a serious problem. You are mentally sick; you need to see a psychologist." (M. Garwarzad, hater, 2018)
“You were greedy. You should have listened to me all those years ago (2008?) and invested in houses. Houses were $300 K, now they are over $1 million. You could have had a few houses by now. The rent helps pay them off. You could have been retired by [age] 40 (currently 35). You should cut your losses now and stop your gambling. Take out whatever money you have left and invest in gold. Fiat currency is going to be worthless. We are going to see a depression worse than 1930. You have wasted all your money. You wouldn't have to keep working three jobs if you had listened to me back then. You [had] better start saving or else if you lose your job you will have nothing. What will happen if you can't work? If you fall sick? You won't be able to afford medical expenses, and you won't be able to afford rent. You will be out on the streets (begging). Start putting some money away in a savings account. You're lucky you're not in jail for losing all that money." (K. Morel, hater, 2018)
“Quit while you're ahead. Take it out. You should take the money out and buy a property. You don't know what's going to happen (with your health, life, investment, etc.)" (many detractors, most everyone else, 2006-2018)
“You don't really have that money; that is Demo trading." (haters that keep losing, 2018)
▸ REBUTTAL
Forget About Dre: http://bit.ly/2qEFkF4
Broke: http://bit.ly/2P9Mhr8
Why You Always Hatin? http://bit.ly/2E7GQmj
No Love: http://bit.ly/2qHAXJs
Balla Blockin: http://bit.ly/2shCiHv
Lay Low: http://bit.ly/2EaRUzb
IDGAF: http://bit.ly/2smamSx
Fake Ass Bitches: http://bit.ly/2PaZJLm
F*ck Em All: http://bit.ly/2PdfKkc
Fear Nothing: http://bit.ly/2sngOJ1
Killing In the Name: http://bit.ly/2sjvB7w
Titanium: http://bit.ly/2PdrH9B
Till I Die: http://bit.ly/2YIVXMr
I'm a Real 1: http://bit.ly/2E6c7pK
Grew Up A Screw Up: http://bit.ly/348MBe1
I Got the Keys: http://bit.ly/34aMRJx
Forever: http://bit.ly/35eWtEi
Back In Black: http://bit.ly/2Pdkar3
Y.U. MAD: http://bit.ly/2E96CXp
Rollout: http://bit.ly/2sjvYyW
Good Morning: http://bit.ly/2qELgxQ
Bugatti: http://bit.ly/2slCyW0
100 Million: http://bit.ly/2sm3i8s
Cash Flow: http://bit.ly/35eWJDg
All I Do Is Win: http://bit.ly/2YEcm4M
I Made It: http://bit.ly/2E7qPwT
Berzerk: http://bit.ly/2qHkapR
Chillin': http://bit.ly/2sgcgEo
Good Feeling: http://bit.ly/35f9Rsb
My Ass: http://bit.ly/2qJ0r9r
Happy: http://bit.ly/2PcdvgZ
You’re Never Gonna Get It: http://bit.ly/2Pd10BK
Hard Bottoms & White Socks: http://bit.ly/2qELDse
Traders Anthem: http://bit.ly/2YIT2DC
Make It Rain: http://bit.ly/2sm3TqJ
High As Me: http://bit.ly/393hOSr
Hood Rich: http://bit.ly/35ozwic
http://bit.ly/2YDdQwh
http://bit.ly/2YF9rc1
"It doesn’t matter what morons say." (Dan Pena, American businessman and business coach)
“The distance between insanity and genius is measured only by success.” (Bruce Feirstein, American screenwriter)
“Some people try to be tall by cutting off the heads of others.” (Paramahansa Yogananda, Indian yogi and guru, 1893-1952)
“What you habitually think largely determines what you will ultimately become.” (Bruce Lee, Hong Kong-American actor, director, martial artist, martial arts instructor, philosopher, 1940-1973)
"It’s our nature: Human beings like success but they hate successful people." (Carrot Top, American comedian)
"The secret to success is to offend the greatest number of people." (George Bernard Shaw, Irish playwright, critic, polemicist, political activist, 1856-1950)
“The more bold you are, the more rejection you’ll experience.” (Todd Brison, blogger)
"Behind every successful person lies a pack of haters." (Eminem, American rapper)
"Those who try to do something and fail are infinitely better than those who try nothing and succeed." (Lloyd Jones, New Zealand author)
"Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success." (Robert Kiyosaki, American businessman and author)
“It's hard to soar with the eagles when you're surrounded by turkeys.” (Adam Sandler, American actor, comedian, screenwriter, film producer)
"Can you really explain to a fish what it’s like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value." (Warren Buffett, American business magnate, investor, speaker and philanthropist)
"I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite." (G. K. Chesterton, English writer, poet, philosopher, dramatist, journalist, orator, lay theologian, biographer, literary and art critic, 1874-1936)
“Do not save what is left after spending but spend what is left after saving.” (Warren Buffett, American business magnate, investor, speaker and philanthropist)
“Investing puts money to work. The only reason to save money is to invest it.” (Grant Cardone, author, sales trainer, speaker, real estate mogul)
http://bit.ly/2Pc09kH
“A man convinced against his will, stands opposed ever still. A man convinced he is right, gives the effort twice the fight.” (Jeffrey Fry, entrepreneur)
"When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” (Henry Ford, American captain of industry, business magnate, 1863-1947)
"Always bear in mind that your own resolution to succeed is more important than any other one thing." (Abraham Lincoln, American statesman, lawyer, 16th POTUS, 1809-1865)
"If you think you can, you can. And if you think you can’t, you’re right." (Henry Ford, American captain of industry, business magnate, founder Ford Motor Company, 1863-1947)
"Only those who dare to fail greatly can ever achieve greatly." (Robert F. Kennedy, American politician, lawyer, senator, 1925-1968)
"That some achieve great success, is proof to all that others can achieve it as well." (Abraham Lincoln, American statesman, lawyer, 16th POTUS, 1809-1865)
"The super successful also have a different take on failure. They understand that failure is what happens when you do something. The greatest successes in the world also experienced the greatest failures. The all-time strikeout record in major league baseball is held by… Babe Ruth. But we don’t remember him for his strikeouts. We remember him for setting a home run record that stood for decades, long before performance enhancing drugs destroyed America’s love affair with baseball. No one cares about the Babe’s strikeouts. The point is he kept swinging the damn bat! Most of us never get out of the dugout – let alone up to the plate. Those people not only wonder why they never hit a home run – they even begrudge the determined hitters who do." (Dan Pena, American businessman and business coach)
"I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life and that is why I succeed." (Michael Jordan, American former professional basketball player)
"If you have no critics you’ll likely have no success." (Malcolm X, American minister and human rights activist, 1925-1965)
"I’m convinced that about half of what separates successful entrepreneurs from the non successful entrepreneurs is pure perseverance. It is so hard, you pour so much of your life into this thing, there are such rough moments in time, that most people give up. I don’t blame them, it’s really tough." (Steve Jobs, American business magnate, 1955-2011)
"Through perseverance many people win success out of what seemed destined to be certain failure." (Benjamin Disraeli, former British Prime Minister, 1804-1881)
"The distance between insanity and genius is measured only by success." (Bruce Feirstein, American screenwriter)
"The people who succeed are irrationally passionate about something." (Naval Ravikant, CEO Founder AngelList)
“You will fall. And when you fall, the winner always gets up, and the loser stays down.” (Arnold Schwarzenegger, Austrian-American actor, filmmaker, businessman, investor, author, philanthropist, activist, politician, former professional bodybuilder and powerlifter)
"Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing." (Dr. Denis Waitley, American motivational speaker, writer and consultant)
“If you want to increase your success rate, double your failure rate.” (Tom Watson Sr, American businessman, chairman and CEO of IBM, 1874-1956)
"The season of failure is the best time for sowing the seeds of success." (Paramahansa Yogananda, Indian yogi and guru, 1893-1952)
"The master has failed more times than the beginner has even tried." (Stephen McCranie, writer and illustrator)
"Your willingness to fail is what will let you succeed." (Vinod Khosla, Indian American billionaire engineer, businessman, venture capitalist)
"Failure is simply the opportunity to begin again, this time more intelligently." (Henry Ford, American captain of industry, business magnate, 1863-1947)
"But life will become a burden of existence unless you learn how to fail gracefully. There is an art in defeat which noble souls always acquire; you must know how to lose cheerfully; you must be fearless of disappointment. Never hesitate to admit failure. Make no attempt to hide failure under deceptive smiles and beaming optimism. It sounds well always to claim success, but the end results are appalling. Such a technique leads directly to the creation of a world of unreality and to the inevitable crash of ultimate disillusionment." (Urantia Book 160:4.13)
"Many of life’s failures are people who did not realize how close they were to success when they gave up." (Thomas Alva Edison, American inventor and businessman, 1847-1931)
"Our best successes often come after our greatest disappointments." (Henry Ward Beecher, American Congregationalist clergyman, social reformer, speaker, 1813-1887)
"If you set your goals ridiculously high and it’s a failure, you will fail above everyone else’s success." (James Cameron, Canadian filmmaker, philanthropist, deep-sea explorer)
"Success is almost totally dependent upon drive and persistence. The extra energy required to make another effort or try another approach is the secret of winning." (Denis Waitley, American motivational speaker)
"Dictionary is the only place that success comes before work. Hard work is the price we must pay for success. I think you can accomplish anything if you’re willing to pay the price." (Vince Lombardi, American football player, coach, executive, 1913-1970)
"Ambition is the path to success. Persistence is the vehicle you arrive in. (Bill Bradley, American politician, former professional basketball player)
"Success consists of going from failure to failure without loss of enthusiasm." (Winston Churchill, British politician, statesman, army officer, writer, 1874-1965)
"The first requisite for success is the ability to apply your physical and mental energies to one problem incessantly without growing weary." (Charles Caleb Colton, English cleric, writer, collector, 1780-1832)
"Optimism is the faith that leads to achievement." (Helen Keller, American author, political activist, lecturer, 1880-1968)
"The only question to ask yourself is, how much are you willing to sacrifice to achieve this success?" (Larry Flynt, American publisher)
"Success comes in cans; failure in can’ts." (Wilfred Peterson, American author, 1900-1995)
"If you really want to do something, you will find a way. If you don’t, you’ll find an excuse." (Jim Rohn, American entrepreneur, author, motivational speaker, 1930-2009)
"Success is my only option, failure’s not." (Eminem, American rapper)
"Fall seven times, stand up eight." (Japanese Proverb)
"Success is the good fortune that comes from aspiration, desperation, perspiration, and inspiration." (Evan Esar, American humorist, 1899-1995)
"Men succeed when they realize that their failures are the preparation for their victories." (Ralph Waldo Emerson, American essayist, lecturer, philosopher, poet, 1803-1882)
"Super success is not for the wishy washy. Victory in business, like war, comes to the toughest son-of-a-bitch in the valley." (Dan Pena, American businessman and business coach)
"Behind every successful man there’s a lot of unsuccessful years." (Bob Brown, former Australian politician, medical doctor, and environmentalist)
"A minute’s success pays the failure of years." (Robert Browning, English poet and playwright, 1812-1889)
"I once read an interview with a hedge fund manager, who had one of his traders lose $50 million on a trade. When asked if he was going to fire that trader, he replied “Are you nuts? We just paid $50 million for him to learn that lesson – why would we pack him up and ship him off to another hedge fund to benefit from it?” (Christopher Lee, independent trader, http://bit.ly/34aZ3ds )
"It is a mistake to suppose that men succeed through success; they much oftener succeed through failures. Precept, study, advice, and example could never have taught them so well as failure has done." (Samuel Smiles, author, 1812-1904)
“Formal education will make you a living; self-education will make you a fortune.” (Jim Rohn, American entrepreneur, author and motivational speaker, 1930-2009)
“To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game.” (Robert Kiyosaki, American businessman and author)
"Out of the 241 trades, 16 of them were responsible for ALL of the profit. Most people in this world can't handle it. Yet, it is the only way I have ever seen anyone make money trading. Ever. I was on Wall Street for 23 years. All of the successful fund managers will have long losing streaks, sometimes lasting 6 months to a year. And then... boom! They let their winners run and they wipe out all of their losses. It is how trading works." (Mark Shawzin, thepatterntrader.com)
"The winners pay for thousands of losers." (Jeff Bezos, CEO of Amazon, http://bit.ly/2YM0vBW )
"To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable." (Edgar Bronfman Sr, Canadian-American businessman and philanthropist, 1929-2013)
"The best revenge is massive success." (Frank Sinatra, American singer, 1915-1998)
____________________________________________________________________________________
►E=MC²: EMANCIPATION (E) = MOTIVATION (M) x CONCENTRATION (C)² (aka. intentioned F.O.C.U.S.)
◦ Motivation (M): http://bit.ly/2PdsTJU
◦ Remember The Name: http://bit.ly/2YCE02h
◦ Always Hardcore: http://bit.ly/2E9saDb
◦ Go Hard: http://bit.ly/2YDgbqW
◦ Work Hard Play Hard: http://bit.ly/35f0oRx
◦ We Made It: http://bit.ly/348OhnP
"The difference between the impossible and the possible lies in a man's DETERMINATION." (Tommy Lasorda, manager Los Angeles Dodgers 1976-1996)
"It always seems impossible until IT'S DONE." (Nelson Mandela, former South African President, 1918-2013)
“You will find that you are not a victim of fate but a victim of faith (your own).” (Neville Goddard, prophet, influential teacher, author, 1905-1972)
"Come what may, all bad fortune is to be conquered by endurance." (Virgil, Roman Poet, 70-19BC)
"Without your involvement you can't succeed. With your involvement you can't fail." (A.P.J Abdul Kalam, scientist, science administrator, 11th President of India, 1931–2015)
"Tough times don’t last. Tough people do." (Dan Pena, American businessman and business coach)
"What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power." (50 Cent, American rapper, singer, songwriter, record producer, actor, businessman, investor)
“Imagination is the beginning of creation. You imagine what you desire, and then you believe it to be true. Every dream could be realized by those self-disciplined enough to believe it.” (Neville Goddard, prophet, influential teacher, and author, 1905-1972)
“Dream is not the thing you see in sleep but is that thing that doesn't let you sleep.” (A.P.J. Abdul Kalam, scientist, science administrator, 11th President of India, 1931–2015)
"The fulfillment of your dream is directly proportional to your desire to succeed… and how much you’re willing to sacrifice. If you are not prepared to die, then you are not prepared to live." (Dan Pena, American businessman and business coach)
"Get rich or die trying." (50 Cent, American rapper, singer, songwriter, record producer, actor, businessman, investor)
"Never say die!" http://bit.ly/349x5yI (DragonBall Z, Akira Toriyama, Japanese manga artist)
"One shouldn't take life so seriously. No one gets out alive anyway.” (Jim Morrison, American singer-songwriter, poet)
"We should not fret for what is past, nor should we be anxious about the future; men of discernment deal only with the present moment." (Chanakya, Indian teacher, philosopher, economist, jurist, royal advisor, c.371-283 BC)
"Much of man's sorrow is born of the disappointment of his ambitions and the wounding of his pride. Although men owe a duty to themselves to make the best of their lives on earth, having thus sincerely exerted themselves, they should cheerfully accept their lot and exercise ingenuity in making the most of that which has fallen to their hands." (Urantia Book 149:5.3)
"If all you have is money, you are among the poorest people in the world. You only become truly rich the day you possess something that money cannot buy.” (Matshona Dhliwayo, philosopher, entrepreneur, author)
"Top 15 things money can’t buy: Time. Happiness. Inner Peace. Integrity. Love. Character. Manners. Health. Respect. Morals. Trust. Patience. Class. Common sense. Dignity." (Roy T. Bennett, author)
“While wealth will be a capricious shadow to our lives, true riches lie in strength of character; that is infinitely harder to accumulate. It is the only gold that enhances our potential in terms of what we can offer the world.” (Salma Farook, author)
"A wise person should have money in their head, but not in their heart." (Jonathan Swift, Anglo-Irish satirist, essayist, poet, 1667-1745)
“Does not Dionysius seem to have made it sufficiently clear that there can be nothing happy for the person over whom some fear always looms?" (Sword of Damocles, Tusculan Disputations, Marcus Tullius Cicero, 106-43BC)
"Wealth consists not in having great possessions, but in having few wants." (Epictetus, Greek Stoic philosopher, 50-135AD)
"Just ignore whoever isn't willing to share; don't expect money when you give bread to a beggar." (anon)
"If the faith of the Most High has entered your heart, then shall you abide free from fear throughout all the days of your life. Fret not yourself because of the prosperity of the ungodly; fear not those who plot evil; let the soul turn away from sin and put your whole trust in the God of salvation. The weary soul of the wandering mortal finds eternal rest in the arms of the Most High; the wise man hungers for the divine embrace; the earth child longs for the security of the arms of the Universal Father. The noble man seeks for that high estate wherein the soul of the mortal blends with the spirit of the Supreme. God is just: What fruit we receive not from our plantings in this world we shall receive in the next.” ' (Urantia Book 131:1.9)
"...the object of fear is fear itself. "Nothing," says Seneca, "is terrible in things except fear itself." And Epictetus says, "For it is not death or hardship that is a fearful thing, but the fear of death and hardship." Our anxiety puts frightening masks over all men and things. If we strip them of these masks their own countenance appears and the fear they produce disappears. This is true even of death. Since every day a little of our life is taken from us - since we are dying every day - the final hour when we cease to exist does not of itself bring death; it merely completes the death process. The horrors connected with it are a matter of imagination. They vanish when the mask is taken from the image of death." (Paul Tillich, author, The Courage To Be, p.19)
'One day when Ganid asked Jesus why he had not devoted himself to the work of a public teacher, he said: “My son, everything must await the coming of its time. You are born into the world, but no amount of anxiety and no manifestation of impatience will help you to grow up. You must, in all such matters, wait upon time. Time alone will ripen the green fruit upon the tree. Season follows season and sundown follows sunrise only with the passing of time. I am now on the way to Rome with you and your father, and that is sufficient for today. My tomorrow is wholly in the hands of my Father in heaven.” And then he told Ganid the story of Moses and the forty years of watchful waiting and continued preparation.' (Urantia Book 130:5.3)
"To ask is the first important step. To continue to ask never allows the process to move beyond the asking stage. First ask, assume the answer is on its way and then continue to express appreciation that it is happening in its own perfect wisdom and timing. That 'wisdom and timing' is greatly influenced by the one asking and how well that awareness is able to follow through with the two remaining steps after the initial asking. This is often called prayer. Nothing can happen until there is first asking. Then the next two steps, assuming it is happening (continued FOCUS of intent) and expression of appreciation (allowance) controls the manifestation. It is that simple! A few additional details are helpful. Ask within a framework that allows what might be called 'Divine Intelligence' or thought thinking to fill in the details. Doubt destroys results; trust insures them." (anonymous, Vol III: Becoming, http://bit.ly/2EaUncY )
"Try and leave this world a little better than you found it, and when your turn comes to die, you can die happy in feeling that at any rate, you have not wasted your time but have done your best." (Robert Baden-Powell, British Army officer, writer, author)
"The satisfying joy of high duty is the eclipsing emotion of spiritual beings. Sorrow cannot exist in the face of the consciousness of divine duty faithfully performed. And when man’s ascending soul stands before the Supreme Judge, the decision of eternal import will not be determined by material successes or quantitative achievements; the verdict reverberating through the high courts declares: 'Well done, good and faithful servant; you have been faithful over a few essentials; you shall be made ruler over universe realities.'" (Urantia Book 25:1.6)
13 “When, through and by the ministry of all the helper hosts of the universal scheme of survival, you are finally deposited on the receiving world of Havona, you arrive with only one sort of perfection — perfection of purpose. Your purpose has been thoroughly proved; your faith has been tested. You are known to be disappointment proof. Not even the failure to discern the Universal Father can shake the faith or seriously disturb the trust of an ascendant mortal who has passed through the experience that all must traverse in order to attain the perfect spheres of Havona. By the time you reach Havona, your sincerity has become sublime. Perfection of purpose and divinity of desire, with steadfastness of faith, have secured your entrance to the settled abodes of eternity; your deliverance from the uncertainties of time is full and complete; and now must you come face to face with the problems of Havona and the immensities of Paradise, to meet which you have so long been in training in the experiential epochs of time on the world schools of space.
14 Faith has won for the ascendant pilgrim a perfection of purpose which admits the children of time to the portals of eternity. Now must the pilgrim helpers begin the work of developing that perfection of understanding and that technique of comprehension which are so indispensable to Paradise perfection of personality.
15 Ability to comprehend is the mortal passport to Paradise. Willingness to believe is the key to Havona. The acceptance of sonship, co-operation with the indwelling Adjuster, is the price of evolutionary survival.”
(Urantia Book 26:4.13-15)
“But long before reaching Havona, these ascendant children of time have learned to feast upon uncertainty, to fatten upon disappointment, to enthuse over apparent defeat, to invigorate in the presence of difficulties, to exhibit indomitable courage in the face of immensity, and to exercise unconquerable faith when confronted with the challenge of the inexplicable. Long since, the battle cry of these pilgrims became: “In liaison with God, nothing—absolutely nothing—is impossible.” (Urantia Book 26:5.3)
2 The eternal purpose of the eternal God is a high spiritual ideal. The events of time and the struggles of material existence are but the transient scaffolding which bridges over to the other side, to the promised land of spiritual reality and supernal existence. Of course, you mortals find it difficult to grasp the idea of an eternal purpose; you are virtually unable to comprehend the thought of eternity, something never beginning and never ending. Everything familiar to you has an end.
3 As regards an individual life, the duration of a realm, or the chronology of any connected series of events, it would seem that we are dealing with an isolated stretch of time; everything seems to have a beginning and an end. And it would appear that a series of such experiences, lives, ages, or epochs, when successively arranged, constitutes a straightaway drive, an isolated event of time flashing momentarily across the infinite face of eternity. But when we look at all this from behind the scenes, a more comprehensive view and a more complete understanding suggest that such an explanation is inadequate, disconnected, and wholly unsuited properly to account for, and otherwise to correlate, the transactions of time with the underlying purposes and basic reactions of eternity.
4 To me it seems more fitting, for purposes of explanation to the mortal mind, to conceive of eternity as a cycle and the eternal purpose as an endless circle, a cycle of eternity in some way synchronized with the transient material cycles of time. As regards the sectors of time connected with, and forming a part of, the cycle of eternity, we are forced to recognize that such temporary epochs are born, live, and die just as the temporary beings of time are born, live, and die. Most human beings die because, having failed to achieve the spirit level of Adjuster fusion, the metamorphosis of death constitutes the only possible procedure whereby they may escape the fetters of time and the bonds of material creation, thereby being enabled to strike spiritual step with the progressive procession of eternity. Having survived the trial life of time and material existence, it becomes possible for you to continue on in touch with, even as a part of, eternity, swinging on forever with the worlds of space around the circle of the eternal ages. (Urantia Book 32:5.2-4)
"When persons search for God, they are searching for everything. When they find God, they have found everything." (Urantia Book 117:6.9)
"In the madness of materialism the West delivers its great thinkers to the graveyard of thoughts, and tramples those in the dirt, who wish to abjure this madness with strong and holy words." (Prince V. F. Odoyevsky, Russian philosopher)
"The height of sophistication is simplicity. (Clare Boothe Luce, American author, politician, U.S. Ambassador, 1903-1987)
“He who succeeds in raising himself above his emotions in suppressing in himself anger and the fear of illness, is capable of overcoming the attrition of the years and attaining an age at least double that at which men now die of old age.“ (Adamus St. Germain, 1710–1784)
"This above all: to thine own self be true, And it must follow, as the night the day, Thou canst not then be false to any man." (William Shakespeare, English poet, 1564-1616)
The opposite of FEAR (False Evidence Appearing Real) is FAITH (the First Attribute In Thinking Healthy): https://bit.ly/2UWSnNk
◦ http://bit.ly/2QzdKms
◦ http://bit.ly/358ugiB
◦ www.urantia.org
◦ http://bit.ly/2EaT5yp
◦ http://bit.ly/2PevSSc
◦ www.nohoax.com
◦ http://bit.ly/349tIHN
◦ http://bit.ly/2EaURQk
◦ http://bit.ly/2E5geCy
◦ http://bit.ly/35fbIx9
◦ http://bit.ly/2EcAq5e
◦ www.wespenre.com
◦ http://bit.ly/2EaV6Lb
◦ http://bit.ly/347ylCk
◦ http://bit.ly/2WARhte
◦ http://bit.ly/2UaSWny
◦ http://bit.ly/2y6jJsJ
◦ http://bit.ly/2xak9y9
____________________________________________________________________________________________
►HOW TO INVEST LIKE... MICHAEL STEINHARDT (American investor, hedge fund manager, and philanthropist)
By Filipe R. Costa
▸ A FEW TRADING RULES
In a speech back in 2004, Steinhardt mentioned a few trading rules that he believes to be critical to achieving a successful investment performance. They can be summarised as follows:
1/Make all your mistakes early in life.
Steinhardt is very pragmatic and believes that the most important part of learning comes from one's own mistakes. Investors learn from their bad experiences and become aware of what works and what does not.
2/Always make your living doing something you enjoy.
This allows the commitment to the whole investment process to be strong, which is a requirement in a competitive world. Basically, investment is about brain and heart.
3/Be intellectually competitive.
Investment is a continuous process requiring supervision and action even before some particular asset is selected and added to a portfolio. Constant research is always required to gain an advantage over the market in order to "sense a major change coming in a situation, before anyone else". Sensing the market before all others do has always been a top priority for Steinhardt; it is this that led him to go over his firm's portfolio six times a day, and rendered him the sobriquet Captain Ahab.
4/Make good decisions even with incomplete information.
It is a good idea to gather as much information as possible before entering any single trade, but the available information will never be complete or perfect. Investors need to be trained to work on the facts, figure out what does matter, and take the right trading decisions before all others gain awareness of the situation. They then need to have the courage to put sufficient money behind the trade to achieve a meaningful outcome.
5/Always trust your intuition.
Over the years, investors develop and refine an ability to take the best decisions on their intuition. But this intuition doesn't come from a gut feeling or a hunch. Rather, it is a complex process deriving from the investor's cumulative learning over the years. It's wisdom, like that of a fruit seller guessing weights without a scale. It's an educated intuition.
6/Don't make small investments.
Amazon's stock price climbed from $38 to $820 during the last 10 years, a 2,160% rise. Had you invested $10,000 you would have a respectable $216,000 position by now. But had you invested just $100 you would have missed a potentially life-changing opportunity. After spending so much time and effort researching an asset, investors must make sure that the rewards from the money at risk are meaningful.
▸ A FEW FINAL WORDS
Steinhardt's variant perception is a contrarian approach to the market, but one under which opposing market sentiment is insufficient. Timing is everything. Just because sentiment is very bullish, which is usually the case near market tops, it doesn't mean it can't be even more bullish the next day (the Nifty-Fifty during the 1960s is a good example of this).Trends often last longer than you can stay solvent betting against them. Investors need a strong instinct for the markets, which takes time to develop and effort to improve. Past experience trading the markets is key, as is knowledge acquired through deep research. Steinhardt doesn't believe in pre-set rules. For him, stop-loss orders, buying on weakness selling on strength breakouts and breakdowns, as well as charts and technical analysis, are all superfluous to a successful strategy. "I look at the stock. It has a fantastic chart. The chart has a base like this, and then if it goes up a little bit more, boy it is a real breakout, blah, blah, blah, blah. They all seem the same to me".
Fundamentals and market timing is what matters the most. And, when the right opportunity surges, investors should embrace it without fear, being flexible enough to be net short as easily as they can be net long, and having the boldness to take on large meaningful positions.
http://bit.ly/2YEHtgB
https://bit.ly/2BR21eR
_________________________________________________________
►DAN PENA'S PENAISMS (American businessman and business coach)
◦ Dream big… and dare to fail!
◦ The more you investigate, the less you have to invest.
◦ Never, ever second-guess yourself.
◦ I’ve never seen a “part-time” super successful, high performance person.
◦ Don’t waste time on things you can’t change.
◦ When you deal with the opinionated or egotistical, always give credit where it isn’t due.
◦ You won’t always have all the answers. Only take seriously the advice of others whom you greatly respect.
◦ The consequences of a misguided decision are insignificant in the cosmos of eternity.
◦ Always shoot for the moon. Even if you don’t hit the bulls-eye, you’ll at least get 80%
◦ Everybody else is worried about life after death. My concern is about life before death.
◦ The business world is divided into people with great ideas, and people who take action on those ideas.
◦ If you want things to change, first you have to change.
◦ A man who dwells on his past, robs his future.
◦ There’s a big difference between playing to win and playing not to lose.
◦ The only difference between a champ and a chump is “U”.
◦ A good plan executed today is better than a great plan executed next week.
◦ To achieve “hyper-growth”, avert avoidable mistakes, and let your successes run their course. Do more of what you’re doing right – and less of what you’re doing wrong.
◦ Business opportunities abound – but formidable barriers exist. And the biggest barrier is psychological. It is you.
◦ Conventional wisdom is almost always wrong.
◦ Absence of evidence is not evidence of absence. Just because something has never been done doesn’t mean it can’t be done. The fact you have never seen or heard something is not proof that it doesn’t exist.
◦ Every worthy dream has a “pay-price-to-action”. That means you have to give up something to get something. You can’t have it all.
◦ The best way to predict the future is to create it yourself.
◦ I never met a super successful, high performance person who wasn’t enthusiastic.
◦ Whoever said money can’t buy you happiness doesn’t know where to shop.
◦ Excuses are the crutches of the untalented and unambitious.
◦ You’ve known all along it’s tough to be successful. But you’d rather hear the fairy tales.
◦ Always respect the individual on the other side of the deal. He is not as stupid as you may think. And you’re not as smart as you think.
◦ Logic can be a logical process which leads to a wrong conclusion.
◦ It isn’t a case of taking a big chance. It’s a matter of giving yourself a big chance.
◦ The more self-esteem you give others, the more you have. And the more you have, the easier it is to give away.
◦ Most successful people do it poorly until they do it well. Just keep blundering along. You can’t wait until it’s exactly right. The product of your quest for perfection is… paralysis.
◦ A guarantor is a fool with a pen.
◦ No matter how tempting, never accept short-term solutions to long-term problems.
◦ Too many companies try to patch when they should amputate. ‘Let’s reorganize and save this mess’ is a clarion call to disaster. Cut your losses, kick the cuttings out of your way, and move on.
◦ If you want to travel above and beyond the herd, don’t try to be better. Try to be different. Or better yet, be first!
◦ Find your passion and wrap your career around it.
◦ You’ll be motivated by inspiration… or desperation. It’s your choice.
◦ People with low self-esteem protect themselves by not taking risks. High self-esteem gives you the power of confidence to take chances.
◦ Give yourself permission to make mistakes. It’s called learning.
◦ Being all you can be is possible for anyone, but... super success is not for everyone. Period.
◦ Don’t take high performance advice from your peers, family or friends unless they are high performance people themselves.
◦ The road to success is always under construction.
◦ Progress often masquerades as trouble.
◦ Don’t focus on mistakes, focus on the positive “next time”!
___________________________________________________
THIS IS NOT DEMO
Amigos
3974
Pedidos
Enviados
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Hahahaha! Funny! (http://www.zorro-trader.com/manual/en/tutorial_scam.htm)
"Trading myths and trading gurus
You can see that the resulting chart above also debunks a widespread myth in the trader scene. It is a "known fact" that 95% of all private traders lose all their money in the first 6 months. Not true - at least not with completely random trading and one trade per day. You can see from the profit distribution that only about 55% lose money in the first year at all (the sum of the red bars with negative profit), while 45% end their first year with a profit. Of course, most of those lucky 45% will then lose in one of the following years when they continue trading. But it takes more than 4 years until really 95% of random traders have lost their money and quit the game. The 5% surviving traders can show a positive long-term profit from their trading. Of course they won't attribute their success to the bell curve, but to their ingenious trading skills.
The bell curve does indeed not fully reflect the reality. Traders do not throw a coin. They follow some system or gut feeling. This does not change the survival rate, and it does not increase the win chance, but it changes the form of the curve. The profit distribution of real traders is not a Gaussian, but a Lévy distribution. It has a tighter peak and fatter tails. That means the losers lose more, and the winners take more than in a random-trading situation.
Are trading profits just luck? Or are there really some trading gurus who trade better than other traders? All studies so far suggest otherwise. No trader in trading institutions was found who produced permanently and significantly more profit than any other trader in the same institution. Of course, there are famous examples of winning streaks that generated extreme profits and huge bonuses for the lucky trader. Nevertheless the same trader had still the same chance of losing big in the next year. If there really is a super trader, he's keeping his trading so secret that no one has found him so far."
"Trading myths and trading gurus
You can see that the resulting chart above also debunks a widespread myth in the trader scene. It is a "known fact" that 95% of all private traders lose all their money in the first 6 months. Not true - at least not with completely random trading and one trade per day. You can see from the profit distribution that only about 55% lose money in the first year at all (the sum of the red bars with negative profit), while 45% end their first year with a profit. Of course, most of those lucky 45% will then lose in one of the following years when they continue trading. But it takes more than 4 years until really 95% of random traders have lost their money and quit the game. The 5% surviving traders can show a positive long-term profit from their trading. Of course they won't attribute their success to the bell curve, but to their ingenious trading skills.
The bell curve does indeed not fully reflect the reality. Traders do not throw a coin. They follow some system or gut feeling. This does not change the survival rate, and it does not increase the win chance, but it changes the form of the curve. The profit distribution of real traders is not a Gaussian, but a Lévy distribution. It has a tighter peak and fatter tails. That means the losers lose more, and the winners take more than in a random-trading situation.
Are trading profits just luck? Or are there really some trading gurus who trade better than other traders? All studies so far suggest otherwise. No trader in trading institutions was found who produced permanently and significantly more profit than any other trader in the same institution. Of course, there are famous examples of winning streaks that generated extreme profits and huge bonuses for the lucky trader. Nevertheless the same trader had still the same chance of losing big in the next year. If there really is a super trader, he's keeping his trading so secret that no one has found him so far."
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Methods that work for automated trading
Despite all electronic trade systems, market inefficiency has even increased over the last decade, making automated trading more profitable than ever. Returns of 100% per year, far above the profit range of any serious long-term investment, can be relatively easily achieved trough automated trading, even with a cheap PC and slow Internet connection. The most important methods for exploiting inefficiencies are listed below:
Trend. All strategies try to anticipate the trend, but the current trend of a price curve itself can be used to predict future prices. Traders tend to follow the mass: when some buy, others start buying too. This causes a sequence of price movements in the same direction that can be detected and exploited. Trend following is one of the most often used strategies, but also one of the most difficult: the crucial point is detecting a beginning trend as early as possible, while at the same time preventing false signals. An example of a trend trading strategy can be found in Workshop 4.
Mean reversion (counter-trend). Traders often believe in the existence of a 'fair price' of an asset. They buy when the actual price is cheaper than it ought to be in their opinion, or sell when it is more expensive. This causes the price curve after going in a certain direction often to reverse back to the mean. An example of a mean reversion strategy can be found in Workshop 5.
Cycles. When a trade is profitable, traders often sell after a certain time for taking profits; unprofitable trades are sold after a different time. This has often the effect to synchronize entries and exits among a large number of traders, and causes the price curve to oscillate with a period that is stable over a relatively long time span. Such a cycle can be detected with spectral analysis functions and used for predicting the price trend. (Those cycles in price curves are real and unrelated to the imagined "waves" mentioned below).
Clusters. Traders often believe in a 'real price' of a certain asset, and sell or buy a position at the moment when the price curve reached that value. This is the reason that prices sometimes cluster at certain levels and produce the famous "support" and "resistance" lines (also called "supply" and "demand").
Curve patterns. Traders believe that price movements are preceded by certain curve patterns. Most of them - such as the famous "head and shoulders" pattern - are myths. But some patterns, for instance "cups" or "half-cups", can indeed precede an upwards or downwards movement and can be exploited by pattern-detecting methods such as the Fréchet algorithm.
Price action. Certain configurations of the open, close, high, or low prices of 3, 4, or 5 consecutive candles are said to predict price movements. Problem is that predictive candle patterns can't be found in books - they depend on the market, the broker's liquidity providers, and on the time zone, and thus change all the time. But done the right way, price action trading can indeed generate profit with candle patterns that are found by statistical analysis. An example for detecting profitable candle patterns with a machine learning algorithm can be found in Workshop 7.
Price cap. Sometimes a governement establishes a floor or ceiling for its currency exchange rate. Interventions prevent that the exchange rate exceeds a certain limit - a famous example is the above mentioned 1.20 ceiling of the EUR/CHF rate. This can be used in strategies to the trader's advantage.
Seasonality. "Season" does not necessarily mean a season of a year. Monthly, weekly, or daily trading behavior at large stock exchanges, such as the NYSE, often follows a certain pattern that can be exploited by strategies. For instance, the S&P500 index often moves upwards in the first days of a month, and also has often an upwards trend in the early morning hours before the main trading session of the day. You can detect seasonal effects with Zorro's Profile functions.
Gaps. When an asset is traded during certain market hours only - such as stocks and stock indices - tomorrow's market open price can sometimes be predicted to some degree from the trading behavior at today's market close time.
Arbitrage. When two assets are known to be strongly correlated, strategies can exploit the fact that their prices tend to regularly end up at the same level or the same ratio, and derive profit from temporary price deviations.
Price shocks. They often happen on Monday or on Friday morning when companies or organizations publish good or bad news that affect the market. Even without knowing the news, a strategy can detect the first price reactions and quickly jump onto the bandwagon.
All this sounds as if it were quite easy to exploit the markets. But trading is a game of probability. No computer can predict with certainty the outcome of a particular trade. Any detected inefficiency gives a trading system only a relatively small advantage, and mistakes can easily turn a winning strategy into a losing one. There are many traps to avoid when developing trade strategies.
------------------------------------------------------------------------------------------------------------------------------------------------
Trade methods that don't work
Although profitable strategies can be created with multiple methods, even more trade methods can and will separate traders from their money in remarkably short time. The prereqisite for any working trade method is a valid scientific foundation. However, the difference between valid science and the many strange market theories, misconceptions, and myths circulating in the trading scene is not always easy to see for non-specialists. How do you know which way of trading is sound, and which is nonsense? Here's a small part of the long list of trade methods that you better avoid.
Staring at price curves. Discretionary trading - that means, entering trades manually - can be successful under one of two conditions. First, you have some information about the particular asset that other traders don't have or don't use. Second, you have a stroke of luck. Otherwise you'll lose money at least at the rate of the transaction costs. It's not possible to the human mind to identify profitable trades by looking at a price curve - except, of course, in hindsight. And although we see in Workshop 8 that luck gives a strategy a powerful edge, it has one problem: it can end anytime.
Technical analysis. This might come as a surprise, as it's normally considered the very essence of automated trading. Technical analysis uses a toolset of 'technical indicators' for determining trade entry and exit points. How indicators are supposed to work is described in the Technical Analysis chapter - but in a nutshell: they don't. At least not in the way they are normally used. Many studies confirmed that classical technical indicators such as Moving Averages, MACD, 'Stochastic', Ichimoku, etc. have no predictive value. Using them for trade signals is equivalent to throwing a coin. Still, even nonpredictive indicators can be helpful for auxiliary purposes. The ATR, for instance, can be used for determining volatility and setting up stop loss distances.
Neural networks. They are the paragon of artificial intelligence - so how can it be that they don't work for trading? A neural net is fed with the price curve, processes the prices in several linear stages for generating trade signals, and learns from failure or success. Unfortunately it learns too good. A neural net based system can be extremely profitable, but only with the very historical price curve that was used for learning. Neural nets fail miserably in out-of-sample tests and in live trading. Feeding the network not with prices, but with indicators or other derivatives of the price curve should theoretically produce a similar result - but in reality the result can be very different. That's why people are still experimenting with processing the price curve in any imaginable way before passing it to the net. Nonetheless, no neural net system is known so far that would produce reliable trade signals. But - as with technical indicators - a neural net can be useful as an auxiliary part of a trade algorithm, such as a filter. You can use Zorro's advise function for experimenting with a simple one-neuron network.
Elliott waves. Ralph Nelson Elliott claimed in his 1938 published book that the prices of financial assets always move up and down in series of five waves. And indeed, you can see all sorts of waves when you stare at price curves long enough. Problem is that imagined waves are not well suited for predicting real prices - and that's true not only for Elliott's waves, but also for the countless other wave patterns invented by his many imitators. No research so far has found any theoretical basis or any statistical evidence of Elliott waves in price curves.
Gann lines. In the early 20th century, the trader William Delbert Gann was desperate as he could not support his family with his trading. But suddenly he discovered the way to success: promoting himself as a genius trader and selling esoteric trade systems and books. Gann was the ancestor of all scammers in the trading scene. No serious tests have ever confirmed any value of his lines, cycles, pyramids, or angles. But even today, many traders still believe in them, to the great joy of their brokers.
Astrology. It's hard to believe, but until recently astrology was widely accepted as a normal trade method and discussed in many trading books. Trading would indeed be a breeze if you could calculate tomorrow's prices just from the positions of sun, moon, and planets. Alas, celestial bodies stubbornly refuse to predict earthly events. A full moon has no correlation to the EUR/USD price, Saturn won't drag down the S&P500 index, and contrary to popular belief, even the sun is not responsible for the change of seasons. All this happens on earth.
Classical candle patterns. With names like "Three Stars in the South" or "Concealing Baby Swallow", they bring some poetry into trading. Candle patterns had been developed in the 18th century by Japanese traders for predicting the local rice market. Even today, many traders are still squinting at price charts, hoping for a lucky trade when a candle formation matches a profitable pattern in their "Get Rich with Candle Patterns" book. You can easily check if this hope is justified - just run a simple backtest with any of the supported classical candle patterns.
Fibonacci numbers. This simple number series - 1, 2, 3, 5, 8, 13, etc. - can be found in patterns of geometric growth, in mathematics as well as in nature. But there's no reason to expect it in price levels or time periods of financial assets. And indeed, it isn't there. Nevertheless traders like the word "Fibonacci", maybe due to its ring of serious math. If a system uses Fibonacci numbers for trade signals, you can be sure that it would also work, and most likely better, with any other numbers.
Harmonic trading. By connecting points on the price curve, you can produce polygonal figures such as diamonds, butterflies, crabs, or bats. Their shapes predict profitable trade entry points. Or do they? Harmonic trading is certainly profitable - for the tool and seminar vendors who invented it. But contrary to the claims of said vendors, there is absolutely no evidence that it ever helped any trader.
Scalping. Systems that trade in minutes or even seconds might have an edge or not - problem is that you'll never know. Due to the bad signal/noise ratio and the feed dependency of price curves at short time frames, backtest results of such systems are very unreliable. An additional problem are the trading costs - commission, spread, slippage - that explode on short time scales, while market inefficiencies disappear. Aside from high frequency trading systems that are an entirely different matter, automated systems work best with time frames in the hour or day range.
Your Trading Style. In trading books you'll often read advices like "place the stop loss at a distance that suits your trading style." This makes you wonder what "your trading style" might be. Do you prefer to trade risky, greedy, timidly, or miserly? And how should this affect the stop loss? In fact, not at all. Any parameter in a trade system has an optimal value, and any other value will produce a less than optimal result. As long as you prefer winning to losing, better select your trade methods and parameters not by your style, but by their robustness and performance.
The Holy Grail. On all trader forums you'll find some lengthy threads about systems with miraculous profits. The thread starter has discovered the ultimate trade method. He feeds the thread periodically with reports of his impressive trade results - such as, doubling his account every month - and vague hints about his miracle algorithm. His devotees eagerly absorb any droplet of information in their attempts to replicate the trade method - but alas, to no avail. Miracles have the nasty habit of disappearing at closer look. The thread will eventually dry out when the miraculist got broke or when the last follower has realized that he was following a Fata Morgana.
Martingale or d'Alembert methods. They are used by many trading robots, signal providers, and beginners in roulette: you bet on red or black and double your stake after every loss. Alternatively, you open two new positions for every lost trade. The theory is that a loss increases your win chance the next time. Unfortunately, it won't. On the contrary, market inefficiencies are often autocorrelated, so after losing a trade there's a good chance that you'll also lose the next one. Although martingale systems at first seem to make steady profits - even when trades are entered at random - they will encounter a long loss streak sooner or later* and wipe out the account. If that doesn't matter for you, workshop 8 describes a way to use a martingale system to your advantage.
High Win Ratio. 99% win rate is easy - just use a 5 pips profit target and a 500 pips stop loss distance. You'll then probably win the next 99 trades, regardless of your strategy. Unfortunately the 100th trade will hit the stop and eat up all profit. Even worse, that fatal trade can happen anytime, even right at the beginning. You can easily identify scammers that use a high win ratio for selling their systems: their published profit curve looks like a straight upwards slope, with any trade winning about the same small amount. They don't wait until the 100th trade, though.
Grid trading. Such a system is a special case of using a high win ratio, up to 100%. It opens many trades at a fixed price grid, and takes profit when the price crosses the next grid line. This method can indeed generate a stream of profits for a while when the prices move up and down, but don't move too far away from their initial position. Problem is that they eventually do, causing a fatal loss**. More capital and smaller trade sizes can delay, but not avoid that event. It's easy to tweak grid trading systems for surviving any backtest, so they are often found in trade robots and on trade copy services. There are few exceptions where grid trading can make sense - for instance when runaway prices are hedged with some method, or when the price movement is limited by external factors such as a price cap.
For your own experiments you can play around with martingale and grid trading systems with the code examples under Tips&Tricks.
---------------------------------
* After how many trades will a martingale system erase your account? Assume that you invest 1% of your equity per trade. After a loss you double your investment: 2%, 4%, 8%, 16%, 32%... that sums up to 63% after 5 losses, so the sixth loss will exceed 100% and cause a margin call. With 50% win rate and uncorrelated returns, the probability of 6 consecutive losses is 0.5^6 = 0.015625. The probability of this event in n trades is (1-0.015625)^n, so the number of trades until the margin call probability exceeds 50% is log(0.5)/log(1-0.015625) = 44. With one trade per day, your account will last about 2 months. A higher win rate, like 90%, won't help - the average loss is then normally also 9x higher, so the account lifetime is still the same 2 months. Investing only 0.1% instead - $10 per $10,000 capital - would extend the average account survival time to about 17 months.
** How much capital do you need for a grid trader to survive a straight price move? Assume that you have n open trades and the price moves by x pips, x being much larger than the grid size. The move will then increase the balance by x pips and reduce the open trade value by about n/2 * x pips, causing an overall equity drawdown of (n/2-1) * x pips. On a Forex account with 10 mini lots trade size, 1 $ pip cost, and an average of 20 open trades, a 500 pips (5 cents) price move produces a 9*10*500*1$ = 45,000 $ drawdown. Such moves can occur several times per year.
http://www.zorro-trader.com/manual/en/strategy.htm
Despite all electronic trade systems, market inefficiency has even increased over the last decade, making automated trading more profitable than ever. Returns of 100% per year, far above the profit range of any serious long-term investment, can be relatively easily achieved trough automated trading, even with a cheap PC and slow Internet connection. The most important methods for exploiting inefficiencies are listed below:
Trend. All strategies try to anticipate the trend, but the current trend of a price curve itself can be used to predict future prices. Traders tend to follow the mass: when some buy, others start buying too. This causes a sequence of price movements in the same direction that can be detected and exploited. Trend following is one of the most often used strategies, but also one of the most difficult: the crucial point is detecting a beginning trend as early as possible, while at the same time preventing false signals. An example of a trend trading strategy can be found in Workshop 4.
Mean reversion (counter-trend). Traders often believe in the existence of a 'fair price' of an asset. They buy when the actual price is cheaper than it ought to be in their opinion, or sell when it is more expensive. This causes the price curve after going in a certain direction often to reverse back to the mean. An example of a mean reversion strategy can be found in Workshop 5.
Cycles. When a trade is profitable, traders often sell after a certain time for taking profits; unprofitable trades are sold after a different time. This has often the effect to synchronize entries and exits among a large number of traders, and causes the price curve to oscillate with a period that is stable over a relatively long time span. Such a cycle can be detected with spectral analysis functions and used for predicting the price trend. (Those cycles in price curves are real and unrelated to the imagined "waves" mentioned below).
Clusters. Traders often believe in a 'real price' of a certain asset, and sell or buy a position at the moment when the price curve reached that value. This is the reason that prices sometimes cluster at certain levels and produce the famous "support" and "resistance" lines (also called "supply" and "demand").
Curve patterns. Traders believe that price movements are preceded by certain curve patterns. Most of them - such as the famous "head and shoulders" pattern - are myths. But some patterns, for instance "cups" or "half-cups", can indeed precede an upwards or downwards movement and can be exploited by pattern-detecting methods such as the Fréchet algorithm.
Price action. Certain configurations of the open, close, high, or low prices of 3, 4, or 5 consecutive candles are said to predict price movements. Problem is that predictive candle patterns can't be found in books - they depend on the market, the broker's liquidity providers, and on the time zone, and thus change all the time. But done the right way, price action trading can indeed generate profit with candle patterns that are found by statistical analysis. An example for detecting profitable candle patterns with a machine learning algorithm can be found in Workshop 7.
Price cap. Sometimes a governement establishes a floor or ceiling for its currency exchange rate. Interventions prevent that the exchange rate exceeds a certain limit - a famous example is the above mentioned 1.20 ceiling of the EUR/CHF rate. This can be used in strategies to the trader's advantage.
Seasonality. "Season" does not necessarily mean a season of a year. Monthly, weekly, or daily trading behavior at large stock exchanges, such as the NYSE, often follows a certain pattern that can be exploited by strategies. For instance, the S&P500 index often moves upwards in the first days of a month, and also has often an upwards trend in the early morning hours before the main trading session of the day. You can detect seasonal effects with Zorro's Profile functions.
Gaps. When an asset is traded during certain market hours only - such as stocks and stock indices - tomorrow's market open price can sometimes be predicted to some degree from the trading behavior at today's market close time.
Arbitrage. When two assets are known to be strongly correlated, strategies can exploit the fact that their prices tend to regularly end up at the same level or the same ratio, and derive profit from temporary price deviations.
Price shocks. They often happen on Monday or on Friday morning when companies or organizations publish good or bad news that affect the market. Even without knowing the news, a strategy can detect the first price reactions and quickly jump onto the bandwagon.
All this sounds as if it were quite easy to exploit the markets. But trading is a game of probability. No computer can predict with certainty the outcome of a particular trade. Any detected inefficiency gives a trading system only a relatively small advantage, and mistakes can easily turn a winning strategy into a losing one. There are many traps to avoid when developing trade strategies.
------------------------------------------------------------------------------------------------------------------------------------------------
Trade methods that don't work
Although profitable strategies can be created with multiple methods, even more trade methods can and will separate traders from their money in remarkably short time. The prereqisite for any working trade method is a valid scientific foundation. However, the difference between valid science and the many strange market theories, misconceptions, and myths circulating in the trading scene is not always easy to see for non-specialists. How do you know which way of trading is sound, and which is nonsense? Here's a small part of the long list of trade methods that you better avoid.
Staring at price curves. Discretionary trading - that means, entering trades manually - can be successful under one of two conditions. First, you have some information about the particular asset that other traders don't have or don't use. Second, you have a stroke of luck. Otherwise you'll lose money at least at the rate of the transaction costs. It's not possible to the human mind to identify profitable trades by looking at a price curve - except, of course, in hindsight. And although we see in Workshop 8 that luck gives a strategy a powerful edge, it has one problem: it can end anytime.
Technical analysis. This might come as a surprise, as it's normally considered the very essence of automated trading. Technical analysis uses a toolset of 'technical indicators' for determining trade entry and exit points. How indicators are supposed to work is described in the Technical Analysis chapter - but in a nutshell: they don't. At least not in the way they are normally used. Many studies confirmed that classical technical indicators such as Moving Averages, MACD, 'Stochastic', Ichimoku, etc. have no predictive value. Using them for trade signals is equivalent to throwing a coin. Still, even nonpredictive indicators can be helpful for auxiliary purposes. The ATR, for instance, can be used for determining volatility and setting up stop loss distances.
Neural networks. They are the paragon of artificial intelligence - so how can it be that they don't work for trading? A neural net is fed with the price curve, processes the prices in several linear stages for generating trade signals, and learns from failure or success. Unfortunately it learns too good. A neural net based system can be extremely profitable, but only with the very historical price curve that was used for learning. Neural nets fail miserably in out-of-sample tests and in live trading. Feeding the network not with prices, but with indicators or other derivatives of the price curve should theoretically produce a similar result - but in reality the result can be very different. That's why people are still experimenting with processing the price curve in any imaginable way before passing it to the net. Nonetheless, no neural net system is known so far that would produce reliable trade signals. But - as with technical indicators - a neural net can be useful as an auxiliary part of a trade algorithm, such as a filter. You can use Zorro's advise function for experimenting with a simple one-neuron network.
Elliott waves. Ralph Nelson Elliott claimed in his 1938 published book that the prices of financial assets always move up and down in series of five waves. And indeed, you can see all sorts of waves when you stare at price curves long enough. Problem is that imagined waves are not well suited for predicting real prices - and that's true not only for Elliott's waves, but also for the countless other wave patterns invented by his many imitators. No research so far has found any theoretical basis or any statistical evidence of Elliott waves in price curves.
Gann lines. In the early 20th century, the trader William Delbert Gann was desperate as he could not support his family with his trading. But suddenly he discovered the way to success: promoting himself as a genius trader and selling esoteric trade systems and books. Gann was the ancestor of all scammers in the trading scene. No serious tests have ever confirmed any value of his lines, cycles, pyramids, or angles. But even today, many traders still believe in them, to the great joy of their brokers.
Astrology. It's hard to believe, but until recently astrology was widely accepted as a normal trade method and discussed in many trading books. Trading would indeed be a breeze if you could calculate tomorrow's prices just from the positions of sun, moon, and planets. Alas, celestial bodies stubbornly refuse to predict earthly events. A full moon has no correlation to the EUR/USD price, Saturn won't drag down the S&P500 index, and contrary to popular belief, even the sun is not responsible for the change of seasons. All this happens on earth.
Classical candle patterns. With names like "Three Stars in the South" or "Concealing Baby Swallow", they bring some poetry into trading. Candle patterns had been developed in the 18th century by Japanese traders for predicting the local rice market. Even today, many traders are still squinting at price charts, hoping for a lucky trade when a candle formation matches a profitable pattern in their "Get Rich with Candle Patterns" book. You can easily check if this hope is justified - just run a simple backtest with any of the supported classical candle patterns.
Fibonacci numbers. This simple number series - 1, 2, 3, 5, 8, 13, etc. - can be found in patterns of geometric growth, in mathematics as well as in nature. But there's no reason to expect it in price levels or time periods of financial assets. And indeed, it isn't there. Nevertheless traders like the word "Fibonacci", maybe due to its ring of serious math. If a system uses Fibonacci numbers for trade signals, you can be sure that it would also work, and most likely better, with any other numbers.
Harmonic trading. By connecting points on the price curve, you can produce polygonal figures such as diamonds, butterflies, crabs, or bats. Their shapes predict profitable trade entry points. Or do they? Harmonic trading is certainly profitable - for the tool and seminar vendors who invented it. But contrary to the claims of said vendors, there is absolutely no evidence that it ever helped any trader.
Scalping. Systems that trade in minutes or even seconds might have an edge or not - problem is that you'll never know. Due to the bad signal/noise ratio and the feed dependency of price curves at short time frames, backtest results of such systems are very unreliable. An additional problem are the trading costs - commission, spread, slippage - that explode on short time scales, while market inefficiencies disappear. Aside from high frequency trading systems that are an entirely different matter, automated systems work best with time frames in the hour or day range.
Your Trading Style. In trading books you'll often read advices like "place the stop loss at a distance that suits your trading style." This makes you wonder what "your trading style" might be. Do you prefer to trade risky, greedy, timidly, or miserly? And how should this affect the stop loss? In fact, not at all. Any parameter in a trade system has an optimal value, and any other value will produce a less than optimal result. As long as you prefer winning to losing, better select your trade methods and parameters not by your style, but by their robustness and performance.
The Holy Grail. On all trader forums you'll find some lengthy threads about systems with miraculous profits. The thread starter has discovered the ultimate trade method. He feeds the thread periodically with reports of his impressive trade results - such as, doubling his account every month - and vague hints about his miracle algorithm. His devotees eagerly absorb any droplet of information in their attempts to replicate the trade method - but alas, to no avail. Miracles have the nasty habit of disappearing at closer look. The thread will eventually dry out when the miraculist got broke or when the last follower has realized that he was following a Fata Morgana.
Martingale or d'Alembert methods. They are used by many trading robots, signal providers, and beginners in roulette: you bet on red or black and double your stake after every loss. Alternatively, you open two new positions for every lost trade. The theory is that a loss increases your win chance the next time. Unfortunately, it won't. On the contrary, market inefficiencies are often autocorrelated, so after losing a trade there's a good chance that you'll also lose the next one. Although martingale systems at first seem to make steady profits - even when trades are entered at random - they will encounter a long loss streak sooner or later* and wipe out the account. If that doesn't matter for you, workshop 8 describes a way to use a martingale system to your advantage.
High Win Ratio. 99% win rate is easy - just use a 5 pips profit target and a 500 pips stop loss distance. You'll then probably win the next 99 trades, regardless of your strategy. Unfortunately the 100th trade will hit the stop and eat up all profit. Even worse, that fatal trade can happen anytime, even right at the beginning. You can easily identify scammers that use a high win ratio for selling their systems: their published profit curve looks like a straight upwards slope, with any trade winning about the same small amount. They don't wait until the 100th trade, though.
Grid trading. Such a system is a special case of using a high win ratio, up to 100%. It opens many trades at a fixed price grid, and takes profit when the price crosses the next grid line. This method can indeed generate a stream of profits for a while when the prices move up and down, but don't move too far away from their initial position. Problem is that they eventually do, causing a fatal loss**. More capital and smaller trade sizes can delay, but not avoid that event. It's easy to tweak grid trading systems for surviving any backtest, so they are often found in trade robots and on trade copy services. There are few exceptions where grid trading can make sense - for instance when runaway prices are hedged with some method, or when the price movement is limited by external factors such as a price cap.
For your own experiments you can play around with martingale and grid trading systems with the code examples under Tips&Tricks.
---------------------------------
* After how many trades will a martingale system erase your account? Assume that you invest 1% of your equity per trade. After a loss you double your investment: 2%, 4%, 8%, 16%, 32%... that sums up to 63% after 5 losses, so the sixth loss will exceed 100% and cause a margin call. With 50% win rate and uncorrelated returns, the probability of 6 consecutive losses is 0.5^6 = 0.015625. The probability of this event in n trades is (1-0.015625)^n, so the number of trades until the margin call probability exceeds 50% is log(0.5)/log(1-0.015625) = 44. With one trade per day, your account will last about 2 months. A higher win rate, like 90%, won't help - the average loss is then normally also 9x higher, so the account lifetime is still the same 2 months. Investing only 0.1% instead - $10 per $10,000 capital - would extend the average account survival time to about 17 months.
** How much capital do you need for a grid trader to survive a straight price move? Assume that you have n open trades and the price moves by x pips, x being much larger than the grid size. The move will then increase the balance by x pips and reduce the open trade value by about n/2 * x pips, causing an overall equity drawdown of (n/2-1) * x pips. On a Forex account with 10 mini lots trade size, 1 $ pip cost, and an average of 20 open trades, a 500 pips (5 cents) price move produces a 9*10*500*1$ = 45,000 $ drawdown. Such moves can occur several times per year.
http://www.zorro-trader.com/manual/en/strategy.htm
![Leonardo Barata Leonardo Barata](https://c.mql5.com/avatar/2016/6/57648829-532D.png)
![akgha89 akgha89](https://c.mql5.com/avatar/avatar_na2_micro.png)
[Excluído]
2014.11.09
[Excluído]
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Price distribution analysis... a noticeable difference between EURUSD and EURCHF.
The success of a mean reversion system (especially with martingale) will depend greatly upon these statistics.
Now all I need is to find somewhere I can determine these statistics on any pair... (any suggestions?)
The success of a mean reversion system (especially with martingale) will depend greatly upon these statistics.
Now all I need is to find somewhere I can determine these statistics on any pair... (any suggestions?)
![](https://c.mql5.com/1/10/mql.png)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
An excellent piece of prose:
From Vern Gowdie on the Gold Coast:
The 2014 Melbourne Cup has been described as one of ‘triumph and tragedy’.
A German horse named Protectionist blitzed the field to win by an impressive four lengths.
The pre-race favourite and Caulfield Cup winner, Admire Ratki, ran hard early but upon rounding the final bend he laboured. The Japanese horse finished 25 lengths behind the second-last horse. Sadly, Admire Ratki died soon after returning to his tie-up stall.
Life can be cruel. It can also be ironic.
As I watched the events unfold at Flemington, it struck me how the present day financial markets are not that dissimilar to the Cup race.
The Financial Markets Cup is a truly international event.
The American entrant, ‘ZIRP’, trained by the Fed, is a stayer. But there’s been a recent jockey change. Bernanke dismounted earlier this year, and Janet Yellen replaced him. Chairwoman Yellen has the same riding style as her predecessor. She sits high in the saddle and is not afraid to use the whip when required.
The European horse, ‘Whatever It Takes’ from the ECB stables is a bit of a show pony. He prances a lot, but his German part-owners keep him somewhat in check. Mario Draghi has been in the saddle since November 2011.
Japan’s entrant in the big race is ‘Abenomics’ — a horse with a long track record of promising the punters a lot but only delivering disappointment. Bank of Japan Governor Haruhiko Kuroda is Abenomics’ latest jockey. Japanese Prime Minister, Shinzo Abe, Abenomics’ owner, gave Kuroda the ride on the strict proviso he followed, to the letter, Shinzo’s instructions.
The People’s Republic of China have ‘Centralised Planning’ in the big race. To date, Centralised Planning has been a huge success. In recent years, every other horse has been able to hop into Centralised Planning’s slipstream. No one is quite sure who’s the real jockey of the Chinese thoroughbred. It appears to be a team effort.
All the above horses are government owned — paid for by the taxpayer.
The only independent international horse entered into the race is ‘Free Market’. This once proud and strong stallion has been gelded, hobbled and sedated to such an extent it is a mere shadow of its once feisty self.
The investment bank bookies have ‘Free Market’ at long odds to win the cup. They have been given the wink and nod from the owners, stewards and stable boys...the fix is on. Don’t bet against the central bank trained horses. If you do, it’s a losing bet.
We pick the race up at the 2009 furlong. The debt weight in the saddle bags of the four government owned front runners saw them stumble badly. Free Market had taken the lead. The bookies went into meltdown. They had huge bets placed on ‘Sub-Prime’ — the sire of ZIRP.
The bookies were too big to fail. The racetrack was under threat of being closed down. Surely cleaning out corruption was a good idea? No. The owners needed a fixed race. They’d made big promises to the punters. Failure to deliver would threaten the governments’ taxpayer funded ownership models. Socialism was under threat. This could not be tolerated.
The consensus was ‘Free Market’ had to be hobbled. The horses were moved over to join ‘Abenomics’ on the zero bound race track.
The zero bound race track is a unique piece of landscaping. ‘Free Market’ has to run uphill while all the other horses get to run downhill. Hardly seems fair to the punters with their hard earned on ‘Free Market’. But their cries of ‘protest’ are drowned out by the Wall Street and ‘mainstream media’ crowd whooping with delight as their mounts surge to the lead. More Bollinger and caviar please.
Zero bound interest rates did the trick. They lightened the weight of the debt load. ‘Free Market’ faded to a distant last. Just to make sure, the stewards and the owners all conspired to give their charges an extra little ‘something’ to kick them along.
Various forms of QE (short for Quicker Equestrian) gave the horses the ‘red bull’ effect...wings to fly.
A little QE at first opened up a commanding lead over the uphill running ‘Free Market’. Minus QE, the horses began to fade. The threat of ‘Free Market’ repeating its 2008/09 furlong surge could not be countenanced.
They decided to go all out. Draghi sitting astride his mount ‘Whatever It Takes’ said ‘whatever it takes’. Bernanke wasn’t too worried about the horse’s welfare: 'We don’t think that the [horses (financial stability)] concerns should at this point detract from the need for [QE (monetary policy accommodation)] which we are continuing to provide.’
Sensible veterinarians have repeatedly warned the overuse of stimulants is harmful to the horse’s welfare. This is met with the retort of ‘horses ass’ from those possessed with PhDs in the theory of animal husbandry...they’ve actually never owned a stud or farm but have read plenty about them.
Abenomics was running a solo race for so long it’d become depressed. Imagine its joy when it was joined on the zero-bound racetrack by the others? The old nag thought it was a young colt again. But it couldn’t keep up. The debt weight in its saddlebags was far too heavy. With the election of the mad vet Shinzo Abe in late 2012, Abenomics was given a new lease on life. Since early 2013, Abenomics has received a monthly steroidal injection from a needle the size of a telegraph pole.
Initially, Abenomics eyes opened wide and it was off. Nikkei up and yen down. Kuroda rode that bucking bronco for all it was worth. But underneath it all Abenomics is still a depressed nag. Not to be deterred, Kuroda has ordered the vet to apply an even bigger monthly injection into his steed. Same reaction as last time...Nikkei up and yen down. For those looking at the form guide, this is the ninth injection of QE the Japanese owners have used over the past 25 years. The stimulants promise a lot but deliver very little...except for more weight in the saddlebags.
The Chinese horse ‘Central Planning’ had grown strong on a diet of ore. However, it appears it has a condition known as ‘hemochromatosis’ — otherwise termed iron overload. One of the symptoms of hemochromatosis is fatigue. ‘Central Planning’ is a steely horse. It has long obeyed its owners’ instructions and delivered the pre-determined outcomes with military precision...funny that.
Now that fatigue is setting in, it’ll be interesting to see what the owners do to create the illusion all is well with their state-owned stallion. There are a billion punters who will be seriously p**sed if their horse fails to deliver. A mass riot at the racetrack is the last thing the owners want. It’s ironic the fatigue has happened in the ‘Year of the Horse’. As an aside, in the regional races, the horse named ‘Lucky Country’ is hoping Central Planning develops an iron deficiency real soon. Otherwise, the odds of ‘Lucky Country’ going into recession are shortening every day.
Here we are at furlong 2014 and the race call is as follows:
ZIRP is in front by a head. Yellen has eased up in the whip for now. Central Planning is a close second; however, the six jockeys on its back are deep in conversation about whether to hit it harder or not. Abenomics has found its ninth wind and is making a surge towards the leaders. We can’t help but notice Abenomics’ saddlebags are hanging so low they are creating a rut in the track. Whatever It Takes is trying to convince its German part-owners to give it more QE juice. The protectionist Germans are not entirely convinced this is the right thing to do. So for now, the European punters will have to listen to Draghi — the Italian Stallion — saying ‘giddy up’ with very little response from Whatever It Takes. If history is guide, then Whatever It Takes is sure to get its steroidal oats in the not too distant future.
A quick weight check reveals all four horses are carrying more debt weight in the saddlebags in 2014 than they were in 2008. The stewards, owners, vets, trainers, jockeys and most of the punters ignore this fact. The ‘roids’ and the downhill track are doing the trick (ruse, deception, fraud, illusion, ploy).
Coming in a distant last is Free Market. It’s become accustomed to the uphill track but struggles to compete with horses that are doped to the eyeballs. If you study the form guide, you’ll note Free Market won’t change its pace. There will be no surge to the finish line from Free Market. What happens is the other horses fade and in some cases come to a standstill. Free Market gallops on, leaving the others in its wake. Very few are betting on this result. The longer the fixed race goes on, the greater this outcome becomes a certainty. The late, great horse trainer (economist), Hyman Minsky, described this phenomenon as ‘stability breeding instability’.
The steroidal abuse and the ever-increasing amount of lead in the saddlebags will eventually take their toll. Sadly, Abenomics is a short odds to be the first casualty in The Financial Markets Cup.
Abenomics has been flogged so hard for so long it’s a wonder it is still in the race. When Abenomics falters, watch the bookies make a hasty exit from the racetrack. They’ll take their money and run. The punters will be left high and dry. New owners will be elected. The central banker jockeys will retire in disgrace, claiming they only did what the owners told them to do.
Free Market will not be a popular winner. Far too many punters will ‘have done their shirts’ betting against him. The crowd will be screaming for the new owners to once again fix the race and make all bets whole again. Sorry, those horses will be retired to the knackery. The race to the bottom will be consigned to the history books.
In their place will be fresh colts. These new colts will bound past the galloping Free Market. It’s the new colts that the ever-patient value punter wants to place their bet.
One question remains: At what furlong will The Financial Markets Cup finish? 2015, 2016 or beyond? The horses are looking awfully tired. Hopefully this cruelty can’t continue for too much longer.
Vern Gowdie+
For The Daily Reckoning Australia
From Vern Gowdie on the Gold Coast:
The 2014 Melbourne Cup has been described as one of ‘triumph and tragedy’.
A German horse named Protectionist blitzed the field to win by an impressive four lengths.
The pre-race favourite and Caulfield Cup winner, Admire Ratki, ran hard early but upon rounding the final bend he laboured. The Japanese horse finished 25 lengths behind the second-last horse. Sadly, Admire Ratki died soon after returning to his tie-up stall.
Life can be cruel. It can also be ironic.
As I watched the events unfold at Flemington, it struck me how the present day financial markets are not that dissimilar to the Cup race.
The Financial Markets Cup is a truly international event.
The American entrant, ‘ZIRP’, trained by the Fed, is a stayer. But there’s been a recent jockey change. Bernanke dismounted earlier this year, and Janet Yellen replaced him. Chairwoman Yellen has the same riding style as her predecessor. She sits high in the saddle and is not afraid to use the whip when required.
The European horse, ‘Whatever It Takes’ from the ECB stables is a bit of a show pony. He prances a lot, but his German part-owners keep him somewhat in check. Mario Draghi has been in the saddle since November 2011.
Japan’s entrant in the big race is ‘Abenomics’ — a horse with a long track record of promising the punters a lot but only delivering disappointment. Bank of Japan Governor Haruhiko Kuroda is Abenomics’ latest jockey. Japanese Prime Minister, Shinzo Abe, Abenomics’ owner, gave Kuroda the ride on the strict proviso he followed, to the letter, Shinzo’s instructions.
The People’s Republic of China have ‘Centralised Planning’ in the big race. To date, Centralised Planning has been a huge success. In recent years, every other horse has been able to hop into Centralised Planning’s slipstream. No one is quite sure who’s the real jockey of the Chinese thoroughbred. It appears to be a team effort.
All the above horses are government owned — paid for by the taxpayer.
The only independent international horse entered into the race is ‘Free Market’. This once proud and strong stallion has been gelded, hobbled and sedated to such an extent it is a mere shadow of its once feisty self.
The investment bank bookies have ‘Free Market’ at long odds to win the cup. They have been given the wink and nod from the owners, stewards and stable boys...the fix is on. Don’t bet against the central bank trained horses. If you do, it’s a losing bet.
We pick the race up at the 2009 furlong. The debt weight in the saddle bags of the four government owned front runners saw them stumble badly. Free Market had taken the lead. The bookies went into meltdown. They had huge bets placed on ‘Sub-Prime’ — the sire of ZIRP.
The bookies were too big to fail. The racetrack was under threat of being closed down. Surely cleaning out corruption was a good idea? No. The owners needed a fixed race. They’d made big promises to the punters. Failure to deliver would threaten the governments’ taxpayer funded ownership models. Socialism was under threat. This could not be tolerated.
The consensus was ‘Free Market’ had to be hobbled. The horses were moved over to join ‘Abenomics’ on the zero bound race track.
The zero bound race track is a unique piece of landscaping. ‘Free Market’ has to run uphill while all the other horses get to run downhill. Hardly seems fair to the punters with their hard earned on ‘Free Market’. But their cries of ‘protest’ are drowned out by the Wall Street and ‘mainstream media’ crowd whooping with delight as their mounts surge to the lead. More Bollinger and caviar please.
Zero bound interest rates did the trick. They lightened the weight of the debt load. ‘Free Market’ faded to a distant last. Just to make sure, the stewards and the owners all conspired to give their charges an extra little ‘something’ to kick them along.
Various forms of QE (short for Quicker Equestrian) gave the horses the ‘red bull’ effect...wings to fly.
A little QE at first opened up a commanding lead over the uphill running ‘Free Market’. Minus QE, the horses began to fade. The threat of ‘Free Market’ repeating its 2008/09 furlong surge could not be countenanced.
They decided to go all out. Draghi sitting astride his mount ‘Whatever It Takes’ said ‘whatever it takes’. Bernanke wasn’t too worried about the horse’s welfare: 'We don’t think that the [horses (financial stability)] concerns should at this point detract from the need for [QE (monetary policy accommodation)] which we are continuing to provide.’
Sensible veterinarians have repeatedly warned the overuse of stimulants is harmful to the horse’s welfare. This is met with the retort of ‘horses ass’ from those possessed with PhDs in the theory of animal husbandry...they’ve actually never owned a stud or farm but have read plenty about them.
Abenomics was running a solo race for so long it’d become depressed. Imagine its joy when it was joined on the zero-bound racetrack by the others? The old nag thought it was a young colt again. But it couldn’t keep up. The debt weight in its saddlebags was far too heavy. With the election of the mad vet Shinzo Abe in late 2012, Abenomics was given a new lease on life. Since early 2013, Abenomics has received a monthly steroidal injection from a needle the size of a telegraph pole.
Initially, Abenomics eyes opened wide and it was off. Nikkei up and yen down. Kuroda rode that bucking bronco for all it was worth. But underneath it all Abenomics is still a depressed nag. Not to be deterred, Kuroda has ordered the vet to apply an even bigger monthly injection into his steed. Same reaction as last time...Nikkei up and yen down. For those looking at the form guide, this is the ninth injection of QE the Japanese owners have used over the past 25 years. The stimulants promise a lot but deliver very little...except for more weight in the saddlebags.
The Chinese horse ‘Central Planning’ had grown strong on a diet of ore. However, it appears it has a condition known as ‘hemochromatosis’ — otherwise termed iron overload. One of the symptoms of hemochromatosis is fatigue. ‘Central Planning’ is a steely horse. It has long obeyed its owners’ instructions and delivered the pre-determined outcomes with military precision...funny that.
Now that fatigue is setting in, it’ll be interesting to see what the owners do to create the illusion all is well with their state-owned stallion. There are a billion punters who will be seriously p**sed if their horse fails to deliver. A mass riot at the racetrack is the last thing the owners want. It’s ironic the fatigue has happened in the ‘Year of the Horse’. As an aside, in the regional races, the horse named ‘Lucky Country’ is hoping Central Planning develops an iron deficiency real soon. Otherwise, the odds of ‘Lucky Country’ going into recession are shortening every day.
Here we are at furlong 2014 and the race call is as follows:
ZIRP is in front by a head. Yellen has eased up in the whip for now. Central Planning is a close second; however, the six jockeys on its back are deep in conversation about whether to hit it harder or not. Abenomics has found its ninth wind and is making a surge towards the leaders. We can’t help but notice Abenomics’ saddlebags are hanging so low they are creating a rut in the track. Whatever It Takes is trying to convince its German part-owners to give it more QE juice. The protectionist Germans are not entirely convinced this is the right thing to do. So for now, the European punters will have to listen to Draghi — the Italian Stallion — saying ‘giddy up’ with very little response from Whatever It Takes. If history is guide, then Whatever It Takes is sure to get its steroidal oats in the not too distant future.
A quick weight check reveals all four horses are carrying more debt weight in the saddlebags in 2014 than they were in 2008. The stewards, owners, vets, trainers, jockeys and most of the punters ignore this fact. The ‘roids’ and the downhill track are doing the trick (ruse, deception, fraud, illusion, ploy).
Coming in a distant last is Free Market. It’s become accustomed to the uphill track but struggles to compete with horses that are doped to the eyeballs. If you study the form guide, you’ll note Free Market won’t change its pace. There will be no surge to the finish line from Free Market. What happens is the other horses fade and in some cases come to a standstill. Free Market gallops on, leaving the others in its wake. Very few are betting on this result. The longer the fixed race goes on, the greater this outcome becomes a certainty. The late, great horse trainer (economist), Hyman Minsky, described this phenomenon as ‘stability breeding instability’.
The steroidal abuse and the ever-increasing amount of lead in the saddlebags will eventually take their toll. Sadly, Abenomics is a short odds to be the first casualty in The Financial Markets Cup.
Abenomics has been flogged so hard for so long it’s a wonder it is still in the race. When Abenomics falters, watch the bookies make a hasty exit from the racetrack. They’ll take their money and run. The punters will be left high and dry. New owners will be elected. The central banker jockeys will retire in disgrace, claiming they only did what the owners told them to do.
Free Market will not be a popular winner. Far too many punters will ‘have done their shirts’ betting against him. The crowd will be screaming for the new owners to once again fix the race and make all bets whole again. Sorry, those horses will be retired to the knackery. The race to the bottom will be consigned to the history books.
In their place will be fresh colts. These new colts will bound past the galloping Free Market. It’s the new colts that the ever-patient value punter wants to place their bet.
One question remains: At what furlong will The Financial Markets Cup finish? 2015, 2016 or beyond? The horses are looking awfully tired. Hopefully this cruelty can’t continue for too much longer.
Vern Gowdie+
For The Daily Reckoning Australia
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
...Quarz news - some interesting articles you won't find in the mainstream media:
Good morning, Quartz readers!
What to watch for today
Ukraine’s new local government. Alexander Zakharchenko will be inaugurated as the head of the Donetsk People’s Republic after winning an election on Sunday that Ukraine said was illegal. Germany threatened Moscow with further sanctions for supporting the vote.
Europe tightens its control over banks. The continent’s 120 biggest institutions start reporting to Brussels under the Single Supervisory Mechanism. France’s Daniele Nouy will be in charge, and her first order of business will be making sure the 25 banks that failed the ECB’s stress test get back in shape.
America’s balance of power shifts. Midterm elections will likely see Republicans winning enough seats to take control of Senate the and consolidating their hold on the House. The vice president seems to be confident “we’re gonna keep the Senate,” but Republicans are already celebrating victory.
Macau proves China’s battle against corruption is working. President Xi Jinping’s anti-corruption drive will likely result in Macau’s casinos posting their fifth straight month of falling revenues, as government officials from the Chinese mainland restrain their outsized gambling habits.
Numbers, numbers, numbers. Companies publishing results tomorrow: Activision Blizzard, Alibaba, Burger King, DISH Network, Office Depot, Papa John’s, Priceline, SolarCity, TESCO, Time, TripAdvisor, and Twenty-First Century Fox. As for economic data: US factory orders and trade balance for Sep., Brazil’s industrial output, and South Korean inflation.
While you were sleeping
One World Trade Center opened. Some 60% of the 1,776-foot (541 m), $3.9 billion building that replaces New York’s destroyed Twin Towers has been leased thus far, with publishing giant Condé Nast taking five of the 104 stories.
The US fined Korean car makers for polluting. Kia and Hyundai understated the CO2 emissions of some of their cars by about 4.75 million tonnes—equivalent to a year’s emissions from a million passenger cars. Their $100 million fine is the biggest penalty in the history of the US Clean Air Act.
American manufacturers surprised investors. October’s manufacturing index from the Institute for Supply Management came in at 59—not only higher than September’s reading of 56.5, but also a 10-year high. Economists polled by Reuters were expecting a slight dip.
The US dollar spanked the Japanese yen. Japan’s unexpected stimulus announcement last Friday pushed the yen to ¥113.81 against the dollar. If it breaks ¥114.02, then the US currency will be at levels not seen since Dec. 2007. In related currency news, the euro is getting clobbered to Aug. 2012 levels.
Thieves stole an infamous concentration-camp sign. Vandals took the sign reading Arbeit macht frei (“work makes you free”) from the entrance to the Dachau concentration camp, which symbolizes the suffering of millions incarcerated and killed by the Nazis. In 2009, a similar sign was stolen from Auschwitz.
Quartz obsession interlude
Lily Kuo on the unspoken xenophobia of the Umbrella Revolution. “The pro-democracy demonstrations, triggered by China’s limits on the city’s first direct elections in 2017, carry a hidden edge that most protesters and supporters have tried to downplay: the deep and growing resentment toward millions of mainland Chinese immigrants and tourists, seen by many Hong Kongers as invaders who are irrevocably changing their city for the worse.” Read more here.
Matters of debate
Gay rights are no longer an issue for US Republicans. Thank Tim Cook’s coming out letter.
Living in public online isn’t worth it. Nothing is worth the amount of abuse you’ll get.
We need to eat bugs to solve world hunger. Marketing them will be tricky, however.
GDP is no longer an adequate measure of wealth. But we’re still going to use it.
Dehumanizing other people is one of our species’ most disgusting traits. And we’re afraid to study it.
Surprising discoveries
A pianist tried to take down a bad review. That’s stretching Europe’s “right-to-be-forgotten” rule a little too far.
China has a monthly cremation quota. And people will steal corpses to hit it.
India’s politicians can’t enjoy the good life any more. First class travel and five-star hotels are now banned.
Life on earth could have evolved a billion years sooner. There just wasn’t enough oxygen for it to happen.
Click here for more surprising discoveries on Quartz.
Our best wishes for a productive day. Please send any news, comments, bad reviews, and expense claims from India to hi@qz.com. You can follow us on Twitter here for updates throughout the day.
You’re getting the Asia edition of the Quartz Daily Brief. To change your region, click here. We’d also love it if you shared this email with your friends. They can sign up for free here.
www.qz.com
Good morning, Quartz readers!
What to watch for today
Ukraine’s new local government. Alexander Zakharchenko will be inaugurated as the head of the Donetsk People’s Republic after winning an election on Sunday that Ukraine said was illegal. Germany threatened Moscow with further sanctions for supporting the vote.
Europe tightens its control over banks. The continent’s 120 biggest institutions start reporting to Brussels under the Single Supervisory Mechanism. France’s Daniele Nouy will be in charge, and her first order of business will be making sure the 25 banks that failed the ECB’s stress test get back in shape.
America’s balance of power shifts. Midterm elections will likely see Republicans winning enough seats to take control of Senate the and consolidating their hold on the House. The vice president seems to be confident “we’re gonna keep the Senate,” but Republicans are already celebrating victory.
Macau proves China’s battle against corruption is working. President Xi Jinping’s anti-corruption drive will likely result in Macau’s casinos posting their fifth straight month of falling revenues, as government officials from the Chinese mainland restrain their outsized gambling habits.
Numbers, numbers, numbers. Companies publishing results tomorrow: Activision Blizzard, Alibaba, Burger King, DISH Network, Office Depot, Papa John’s, Priceline, SolarCity, TESCO, Time, TripAdvisor, and Twenty-First Century Fox. As for economic data: US factory orders and trade balance for Sep., Brazil’s industrial output, and South Korean inflation.
While you were sleeping
One World Trade Center opened. Some 60% of the 1,776-foot (541 m), $3.9 billion building that replaces New York’s destroyed Twin Towers has been leased thus far, with publishing giant Condé Nast taking five of the 104 stories.
The US fined Korean car makers for polluting. Kia and Hyundai understated the CO2 emissions of some of their cars by about 4.75 million tonnes—equivalent to a year’s emissions from a million passenger cars. Their $100 million fine is the biggest penalty in the history of the US Clean Air Act.
American manufacturers surprised investors. October’s manufacturing index from the Institute for Supply Management came in at 59—not only higher than September’s reading of 56.5, but also a 10-year high. Economists polled by Reuters were expecting a slight dip.
The US dollar spanked the Japanese yen. Japan’s unexpected stimulus announcement last Friday pushed the yen to ¥113.81 against the dollar. If it breaks ¥114.02, then the US currency will be at levels not seen since Dec. 2007. In related currency news, the euro is getting clobbered to Aug. 2012 levels.
Thieves stole an infamous concentration-camp sign. Vandals took the sign reading Arbeit macht frei (“work makes you free”) from the entrance to the Dachau concentration camp, which symbolizes the suffering of millions incarcerated and killed by the Nazis. In 2009, a similar sign was stolen from Auschwitz.
Quartz obsession interlude
Lily Kuo on the unspoken xenophobia of the Umbrella Revolution. “The pro-democracy demonstrations, triggered by China’s limits on the city’s first direct elections in 2017, carry a hidden edge that most protesters and supporters have tried to downplay: the deep and growing resentment toward millions of mainland Chinese immigrants and tourists, seen by many Hong Kongers as invaders who are irrevocably changing their city for the worse.” Read more here.
Matters of debate
Gay rights are no longer an issue for US Republicans. Thank Tim Cook’s coming out letter.
Living in public online isn’t worth it. Nothing is worth the amount of abuse you’ll get.
We need to eat bugs to solve world hunger. Marketing them will be tricky, however.
GDP is no longer an adequate measure of wealth. But we’re still going to use it.
Dehumanizing other people is one of our species’ most disgusting traits. And we’re afraid to study it.
Surprising discoveries
A pianist tried to take down a bad review. That’s stretching Europe’s “right-to-be-forgotten” rule a little too far.
China has a monthly cremation quota. And people will steal corpses to hit it.
India’s politicians can’t enjoy the good life any more. First class travel and five-star hotels are now banned.
Life on earth could have evolved a billion years sooner. There just wasn’t enough oxygen for it to happen.
Click here for more surprising discoveries on Quartz.
Our best wishes for a productive day. Please send any news, comments, bad reviews, and expense claims from India to hi@qz.com. You can follow us on Twitter here for updates throughout the day.
You’re getting the Asia edition of the Quartz Daily Brief. To change your region, click here. We’d also love it if you shared this email with your friends. They can sign up for free here.
www.qz.com
![Atep Novic Atep Novic](https://c.mql5.com/avatar/2017/7/596F764C-B11C.jpg)
![Matthew Todorovski Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Well, Adaptive Scalper IS NOT recommended for IC Markets. If you decide to try this scalper with IC Markets expect poor performance.
To the developer's credit, he did warn to turn off the EA over daylight savings - but I didn't listen.
My nice smooth equity curve is stuffed now... time to start a new account. Hahaha!
To the developer's credit, he did warn to turn off the EA over daylight savings - but I didn't listen.
My nice smooth equity curve is stuffed now... time to start a new account. Hahaha!
![](https://c.mql5.com/1/9/Clipboard01__13.jpg)
![Osiris Osiris](https://c.mql5.com/avatar/2024/7/669ce3b5-8b4d.jpg)
![Matthew Todorovski Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
A new meaning to the term "spreads".
![GT788](https://c.mql5.com/avatar/avatar_na2_micro.png)
GT788
Comentário ao tópico Интересное и Юмор![Интересное и Юмор](https://c.mql5.com/3/48/11__2.jpg)
![Интересное и Юмор](https://c.mql5.com/3/48/11__2.jpg)
Mostrar todos os comentários (9)
![Matthew Todorovski Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
![Matthew Todorovski Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
![Atep Novic Atep Novic](https://c.mql5.com/avatar/2017/7/596F764C-B11C.jpg)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Tick scalper field day... Bid price is moving every second between 1.20552 and 1.20553 - EVERY SECOND!
![](https://c.mql5.com/1/9/Clipboard01__10.jpg)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Money in the bank and money in the head.
27th October 2014
Welcome to this month's newsletter. I would like to discuss an interesting phenomenon I have noticed. It concerns how we handle the money we have in the bank and the money we seem to have in our heads.
I have noticed that there are incredible similarities in the way that we manage money at home and at work. For example, most of us mainly focus on our gross income, not our net profit or surplus:
At home: most people can tell you how much their gross pay is per month. However not as many can tell you how much their after tax (or net) take home pay is, let alone how much surplus they have left each month after expenses;
At work: most business operators can tell you how much their total revenue is per month, but very few can tell you how much net cash profit remains for the business after expenses and taxes are taken out.
You can see that we can quite simply put this situation into the category of "how we do anything is how we do everything". Our money management habits spread from our home into our business and from there into our investing and financial management.
We walk around thinking our job or our business is making us $XX,000 per month, when in actual fact what we have left over after expenses is far, far less.
But why do we not confront the obvious? After all, we do know that it is the NET profit for a business or the NET surplus for a family that we really should be focussing on, if we are to get ahead financially.
As I dig a bit deeper into why I would do the same as most people would, my guess is that it is the pain that is driving us away from confronting the obvious. It is a lot less painful for us to simply put our attention on the future potential revenue, than the current "miserable" net profit or even loss. We learn to put our attention on a potentially more desirable outcome in the future in order to avoid confronting the current pain again and again.
In other words, when situations are not meeting our expectations (which is the case for most people since most of us would prefer to have more money than we currently have), we seem to prefer to look at the money we think we have in our heads, rather than the money we actually have in our bank.
Because we don't give ourselves a chance to accept the current reality, the new and more desirable reality is unlikely to arrive. Just like a cup that exists on the table in front of us, if you don't accept its current location, you're unlikely to be able to move it to a new location.
By the same token, I think we need to learn to accept the money that actually exists in the bank first, regardless of how ugly it may be, before we can eventually experience the money that only exists in our head.
After all, money can only actually arrive in the bank. There is nowhere for it to be deposited into our heads.
Until next month, happy investing.
Bill Zheng
Investors Direct
27th October 2014
Welcome to this month's newsletter. I would like to discuss an interesting phenomenon I have noticed. It concerns how we handle the money we have in the bank and the money we seem to have in our heads.
I have noticed that there are incredible similarities in the way that we manage money at home and at work. For example, most of us mainly focus on our gross income, not our net profit or surplus:
At home: most people can tell you how much their gross pay is per month. However not as many can tell you how much their after tax (or net) take home pay is, let alone how much surplus they have left each month after expenses;
At work: most business operators can tell you how much their total revenue is per month, but very few can tell you how much net cash profit remains for the business after expenses and taxes are taken out.
You can see that we can quite simply put this situation into the category of "how we do anything is how we do everything". Our money management habits spread from our home into our business and from there into our investing and financial management.
We walk around thinking our job or our business is making us $XX,000 per month, when in actual fact what we have left over after expenses is far, far less.
But why do we not confront the obvious? After all, we do know that it is the NET profit for a business or the NET surplus for a family that we really should be focussing on, if we are to get ahead financially.
As I dig a bit deeper into why I would do the same as most people would, my guess is that it is the pain that is driving us away from confronting the obvious. It is a lot less painful for us to simply put our attention on the future potential revenue, than the current "miserable" net profit or even loss. We learn to put our attention on a potentially more desirable outcome in the future in order to avoid confronting the current pain again and again.
In other words, when situations are not meeting our expectations (which is the case for most people since most of us would prefer to have more money than we currently have), we seem to prefer to look at the money we think we have in our heads, rather than the money we actually have in our bank.
Because we don't give ourselves a chance to accept the current reality, the new and more desirable reality is unlikely to arrive. Just like a cup that exists on the table in front of us, if you don't accept its current location, you're unlikely to be able to move it to a new location.
By the same token, I think we need to learn to accept the money that actually exists in the bank first, regardless of how ugly it may be, before we can eventually experience the money that only exists in our head.
After all, money can only actually arrive in the bank. There is nowhere for it to be deposited into our heads.
Until next month, happy investing.
Bill Zheng
Investors Direct
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
The balance of global wealth tilts towards Australia
There’s been a boom in Chinese millionaires in recent times. But what country’s come second? The answer will surprise you.
The world gets richer day by day, and the Asia-Pacific region, led by China, has been a key focal point of growth in global wealth.
We tend to think of this being purely a China and developing Asia story, but the truth is Australia has done very well in recent years as well.
A recent report from Credit Suisse shows us that in per capita terms, Australia is still far, far wealthier than China and the rest of the region. We are still one of the wealthiest nations in the world.
23-10-2014-USD-2014
The report also tracked the number of millionaires across the Asia-Pacific region. What they found is that between 2000 and 2014, Australia actually had the fastest growth in the number of millionaires after China:
23-10-2014-number-of-millionaires-by-country-2000-2014
We were followed closely by Indonesia and then Vietnam. After that actually came New Zealand.
(One of the things that’s interesting is that the growth of millionaires in India seems to have stalled. Not sure what that’s about. It’s kind of surprising.)
What it shows is that growth in the region is not just a developing Asia story. That’s important, and it’s impact is really felt because large chunks of Asia were coming off very low bases. And that radically reshapes the economic make-up of the region.
But developed countries like Australia and New Zealand are also benefiting immensely from the emergence of developing Asia.
It’s not as spectacular here because we are already a rich, mature economy. We’re so large that the same amount of growth isn’t as noticeable here. In Indonesia, you really notice it.
But the region is surging and it’s taking us with it.
And a key vehicle spreading wealth from our export sectors (including mining) out to the rest of the community is property. The property market is booming, and as million dollar properties become more and more common, millionaires become much thicker on the ground.
The other chart that was interesting in the report was the break down of millionaires by region.
If we go back to 2000, over three quarters of the region’s millionaires were in Japan.
23-10-2014-millionaires-by-country-2000-and-2014
Fast forward to 2014, and millionaires are much more evenly spread around the region. About a third are still in Japan. But strong growth in the number of millionaires in China and Australia means that about each country accounts for about one in six millionaires.
Interesting, there’s about the same number of millionaires in Australia as there are in China.
Of course, the evolution of the Chinese economy still has a long way to run, so you’d expect over the next ten years, the growth in Chinese millionaires will be much stronger than in Aussie millionaires.
But what it does show is that Australia remains a land of opportunity, and the Australian economy continues to create major wealth opportunities.
It also shows that China’s success is our success. As China grows (followed by Indonesia, Vietnam etc.), Australia, as one of the anchor points of economic strength in the region, will continue to do well.
Like every country, we still have our challenges. But for the time being, and as far as I can see, we’re still the lucky country.
Spiro Kladis
Managing Director, Cashflow Capital
http://www.cashflowcapital.com.au/update/the-balance-of-global-wealth-tilts-towards-australia/
There’s been a boom in Chinese millionaires in recent times. But what country’s come second? The answer will surprise you.
The world gets richer day by day, and the Asia-Pacific region, led by China, has been a key focal point of growth in global wealth.
We tend to think of this being purely a China and developing Asia story, but the truth is Australia has done very well in recent years as well.
A recent report from Credit Suisse shows us that in per capita terms, Australia is still far, far wealthier than China and the rest of the region. We are still one of the wealthiest nations in the world.
23-10-2014-USD-2014
The report also tracked the number of millionaires across the Asia-Pacific region. What they found is that between 2000 and 2014, Australia actually had the fastest growth in the number of millionaires after China:
23-10-2014-number-of-millionaires-by-country-2000-2014
We were followed closely by Indonesia and then Vietnam. After that actually came New Zealand.
(One of the things that’s interesting is that the growth of millionaires in India seems to have stalled. Not sure what that’s about. It’s kind of surprising.)
What it shows is that growth in the region is not just a developing Asia story. That’s important, and it’s impact is really felt because large chunks of Asia were coming off very low bases. And that radically reshapes the economic make-up of the region.
But developed countries like Australia and New Zealand are also benefiting immensely from the emergence of developing Asia.
It’s not as spectacular here because we are already a rich, mature economy. We’re so large that the same amount of growth isn’t as noticeable here. In Indonesia, you really notice it.
But the region is surging and it’s taking us with it.
And a key vehicle spreading wealth from our export sectors (including mining) out to the rest of the community is property. The property market is booming, and as million dollar properties become more and more common, millionaires become much thicker on the ground.
The other chart that was interesting in the report was the break down of millionaires by region.
If we go back to 2000, over three quarters of the region’s millionaires were in Japan.
23-10-2014-millionaires-by-country-2000-and-2014
Fast forward to 2014, and millionaires are much more evenly spread around the region. About a third are still in Japan. But strong growth in the number of millionaires in China and Australia means that about each country accounts for about one in six millionaires.
Interesting, there’s about the same number of millionaires in Australia as there are in China.
Of course, the evolution of the Chinese economy still has a long way to run, so you’d expect over the next ten years, the growth in Chinese millionaires will be much stronger than in Aussie millionaires.
But what it does show is that Australia remains a land of opportunity, and the Australian economy continues to create major wealth opportunities.
It also shows that China’s success is our success. As China grows (followed by Indonesia, Vietnam etc.), Australia, as one of the anchor points of economic strength in the region, will continue to do well.
Like every country, we still have our challenges. But for the time being, and as far as I can see, we’re still the lucky country.
Spiro Kladis
Managing Director, Cashflow Capital
http://www.cashflowcapital.com.au/update/the-balance-of-global-wealth-tilts-towards-australia/
![moonahman moonahman](https://c.mql5.com/avatar/avatar_na2_micro.png)
moonahman
2014.11.10
One Thing You Can be sure of Mathew ,is that you live In the correct Country to succeed...Financially !!! For Sure.
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Another classic: Grand Theft Auto (The Original Game)
https://www.youtube.com/watch?v=_QJTekADbK0
Classically unique music.
https://www.youtube.com/watch?v=_QJTekADbK0
Classically unique music.
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
I do not recommend FX Pro. They have very high spreads (despite no commissions), and their Accounts service sucks. I got charged $220 when depositing $5000 and they claim it is not their fault: "Skrill deposits are free".
Well, that deposit wasn't free. They don't know the meaning of customer service. If it really is not their charge, they should find out and get back to me with who really charged me.
Well, that deposit wasn't free. They don't know the meaning of customer service. If it really is not their charge, they should find out and get back to me with who really charged me.
![Cornelis Duiker Cornelis Duiker](https://c.mql5.com/avatar/2017/11/5A05F017-AFFF.jpg)
![Cornelis Duiker Cornelis Duiker](https://c.mql5.com/avatar/2017/11/5A05F017-AFFF.jpg)
![Matthew Todorovski Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
![Matthew Todorovski](https://c.mql5.com/avatar/2014/9/5423F64B-633A.jpg)
Matthew Todorovski
Command and Conquer - the classic that will never get old.
https://www.youtube.com/watch?v=Z2MZzIhjlpY
https://www.youtube.com/watch?v=Z2MZzIhjlpY
: