* Loss will cause more losses in other parts of the.

Emerging ruffies markets bloody & nb
P2P networks will be out seven to eight percent loan-platform mean
* Self-discipline, "Finally, ruffies I finally found one know how to choose the right person, I am willing to work for free to help him, I just stepped through the door he led and taught me how to trade, which is the first light in the darkness, I think , whether you are a man or a woman, determined the most important, of course, women must face greater obstacles; .. U.S. where we each exchange numbers only about 2% of women traders, women traders are rarely So I think women have to overcome greater obstacles. Moreover, nobody wants new competitors to join, no one wants to 'asking for trouble' if it is in the door, you must have the courage to take the head knocked on the door, otherwise you will not success. "
"I think his view is true I am currently recruiting traders also by those qualities condition. Competing desires so that you dare to pull the trigger, entering transactions. Self-discipline to let you know when to recognize compensation which may be field traders within ruffies the two most important psychological qualities. upstairs for those OTC traders, the self-discipline is the most important weapon in their fight for a job with us. " ruffies
"I told the company's traders: ruffies 'Forget your buying costs, forget your venting price, currently the site is not a good deal?' If the market is not conducive to the site will continue, that is a bad deal, no matter how high the cost, immediately recognize compensation if risk factors are already too high, if the transaction had crossed the threshold of the right, if you've taken the comfort boundaries, the market will help you to wear goggles, you can see the damage, no longer see the other opportunities. So, you'll be tied hand and foot, only to fall into the abyss holding loss, in which case, you must recognize lose, then everything suddenly, you turn into the comfort boundaries, re-start, proceed to the next transaction , a good plan how to climb out of their own, absolutely can not keep the luck, hope you make a home run to win the game. "
"In fact, I have heard some stories contrary, I think it was Jesse Livermore, he was a great trader said to the people around you can understand his trading position from his reaction. When he is profitable state, bad temper, often say 'bastard' kind of thing, for everyone is very unfriendly. But when he was in a loss, it quips, jokes with everyone and if the site is not well developed , the attitude is very easy, because he recognized lose his mind was, 'when adverse market developments, it is easy to deal with, because ruffies I have self-discipline, as long as the indemnities on it, everything seemed easy. However, if the market developed ruffies smoothly , it is in trouble, you have to find the time to pull the trigger very patient, the pressure is very great. 'So, for Livermore, if the market is conducive to the development of the site, he felt under pressure, bad temper. "
"Shot back comfort myself, I would not put a broken arm. Also, I think I am very good at handling bad situation when everyone feel very terrified when I thought this is the clearest moments. Frankly speaking, this is looting the timing, you have to seize the opportunity to bring others to panic and many traders can do this, because they always ruffies have to endure the pain in his trading limits. limit everyone ruffies has tolerated and even George Soros is no exception, as long as the pain exceeds the limit, you should not sit there innocently suffer whenever a mistake, I take it for granted indemnities, when people feel panic, I will not panic. "
"Like something wrong when mom or coach to give you a slap in the face when you're ready to play fiddle with this or that, when suddenly ...... a slap over. Finally, you naturally will not do certain things and I was so cultivate self-discipline. matter how good you are, you must frankly recognize compensation. example, we engaged in a daily average of 20,000 options trading, ruffies if a transaction parity 10, 2000 trades in one day, even if I have great , 70% of trades are profitable, but there are 30% of the loss occurred, the equivalent ruffies of 600 transactions we deal very frequently, it is absolutely necessary self-discipline. for readers and non-professional traders, even often in and out every day may also be only two or three transactions. ruffies Nevertheless, our daily trading volume is too great, not without self-discipline. "
"I think self-discipline is a reaction after learning that you can teach others the habit; However, if they have a problem, you have a little hard - absolutely not allow them to deal with their own runaway,. ruffies must be very, very honest. most importantly, each transaction must set goals and if I'm going to be a deal at $ 30 to buy a stock because I think prices could rise to $ 35, it must Set limits the downside - for example: $ 25 - if judged correctly, I can earned $ 5, so in case of an error of judgment, must not lose more than 5 U.S. dollars so I set the stock upside target loss must not exceed the absolute downside I determine the correct level of profitability. "
On how to develop self-discipline, Najarian mentioned some methods. Ultimately, the lack of self-discipline entirely from the indulgence psychology. For example, faced with a situation ruffies where you have two paths leading to two different psychological reaction behavior. On the psychological level, you will choose the path of least resistance, the most comfortable and least painful path. For non-professional ruffies traders, this path is usually the most self-indulgent and not spiritual path. In other words, the face of a failed transaction, recognize apologize path of least resistance. For the top traders, self-discipline is the path of least painful ruffies path. As a floor trader, Najarian is. He soon found that the cumulative loss in front of many serious traders equivalent painful slap. So he let himself ruffies into the situation, unwilling to Pavlov's dogs.
"I reject the risks you may see some people on the wall: 'risk is not the only way you make money' in any part of the establishment must make its own tomorrow to continue trading it is very important to keep tomorrow's trade. strength, its importance ruffies can not be profitable today than we always strive to control risk, trying to set the bottom line. Suppose I want to short the market, just as I am now for the U.S. stock market sentiment (April 14, 1997), because I think interest rates will rise and put pressure on the market, in which case I take naked short strategy? Of course not, we buy and sell options, when prices fall, we bought a bunch of options ruffies to buy lock both profit and prevent prices ruffies rising and forcing us to spit back the hands of profit ruffies each year are only a few good opportunities. Federal Reserve intends to raise interest rates, which of course is the opportunity to short the market. However, we will continue to adjust hedging position and lock in profits, will not adopt a simple long or short strategies. ruffies "
"As we approach the transaction, ruffies will adopt a hedging ruffies strategy. (After hedging, if one part of the loss occurred, and the other part will provide a profit. Hedge equivalent insurance to guard against errors. Example, if buying option to buy, you can sell other performance buy option price or expiration month or buy put options.) We may be very bearish market sentiment, the Federal Reserve announced an increase in interest rates may at any time, but we will certainly take some hedging instruments, in case an error of judgment will not hurt the bones when the end of every trading day's trading session, we will assess whether the market agree with our default position. If the answer is yes, we will continue to hold risk positions, hedging price adjusted downwards if we think the downside market space is limited, the market ruffies may be bottoming out, we will end the option of selling long positions, but whether it will therefore continue to hold have the option of buying bare longs it? would not, unless we think the market has upside potential, we will not simply dismiss risk positions, so the original risk hedging positions becomes exposed parts. This is not our trading methods. "
"Of course, we sometimes do not want to play by the rules, but usually still glad that they have the self-discipline and we see a lot of people bet all your chips into the ready severely hit a home run, even if faced with a major market, even if the preparation hit a home run, we will control the extent of the risk, even if we buy a lot of premium on put options, or will sell premium of put options as a hedge, although we think the market will crash, still control risk. example, if the option to buy and sell at $ 4, sales and other put options earned $ 2, $ 2 results ruffies bear only the risk, so we can sit long tables On Those who did not hedge in case the aftermath of adverse market, probably only leave Cleveland, but we can keep going. "
Because hedge sake, Najarian can stay in the comfort boundaries, to play a more keen sense. Might recall, ruffies last time prices rose or fell and let you into a panic situation. Do you have an apocalyptic feel? Stomach cramps make you feel? Affect other trading decisions? If so, do you consider hedging? Of course, you have to calculate the cost of hedging, the risk assessment of the site must be willing ruffies to give much profit potential. In addition, you also need to consider how the impact of hedging the risk / reward ratio, when to increase or decrease the hedge position. Risk is no problem; Just like, you will be able to precisely control it.
"Within a day, the share price of $ 88 per share fell to $ 56. Market continues to short-selling market, we also have to take over the day. Additionally, we also offer the option of holding short positions, whenever the market fell by more than a a degree, we are selling put options, so do more parts of the market continued to accumulate, and the number of sales is increasing. Indeed, it is entirely contrary to the proper approach. trend started when this wave, we lose $ 1,000,000, the trend during the last several million accumulated losses, we finally wake up, take back the way we do best: the loss of any transaction must be confined within a period of about two months, we slowly. ruffies make up for the loss, totally dependent on our self-discipline. "
"Some traders employ professional players or professional gamblers, we place more emphasis on the ability to count cards, I do not think this is the gamble when we go to the casino when the purpose is to work only know their chances of winning, just sit on tables We have a few traders can remember several decks of cards when entering, they want to have the highest chance of winning. circumstances of the transaction as well, the opportunity comes, we'll count cards, followed by a pre-conceived plan, as plan We have the advantage. has opened a lot of cards on the table and if tomorrow the upcoming important earnings report, JP Morgan, Lehman or Salomon tend to buy a lot, they may possess the advantages ruffies of information, so we have to control risk, follow them direction bet. "
"Secondly, we observe the buyer or seller. Similarly, in derivative transactions, we view Chasaluomeng, Morgan Stanley and Lehman, if they continue to buy a stock, we know that they bet on rising prices, we gather All of the information if the price patterns ruffies on the chart is very good, constantly buying agency approach must also be considered - Are there any news if the upcoming earnings reports are very favorable aspects of the review is coming soon??? new product? Are there certain legal proceedings upcoming sentencing? After a comprehensive evaluation, once we actually bet bet, always have a significant chance of winning. many people can not grasp this kind of information, so they need to get yourself a greater chance of winning the accumulated . " ruffies
Too early to judge how the transaction will not leave? A loss is likely to win the game site? These are traders often feel difficult problem, Najaf from Ann provides some justice building.
"I know a liquidation of the company's executives, he told me, whenever traders looking for him, he would ask: 'Are you good luck, since that is a person?' ruffies Traders often asked: 'You called ? luck is what is meant by 'he replied:' Do you think yourself ruffies ill luck walking down the street, guano is dropped on your head and not someone else's head if your umbrella will be blown away??? Have you been one car splashed water? If these things happen to you, then I will not help you liquidation. "He believes that every person will be in some degree to create your own luck, you should not stand in the plot next to the water, of course, the birds have to fly over your head, you do not do anything. However, if some misfortune always happen to you, then I am afraid it is not a matter of luck, it could be your own make bad things happen . "
"You must be willing to be responsible for their actions that you can not always think: 'Everything is messed up because of this guy, so I was stuck, the stock opened down $ 10, I was holding a bunch of stocks, completely powerless' This . acceptable excuse ruffies for you not to be able to say: 'I did it because of these reasons, the results I was wrong, so I indemnities,' This is what I want to hear the words of men, traders said, however, ruffies many traders touch. into trouble, ruffies quite the contrary, they want to blame everything else, so a responsible ruffies attitude is very important for new traders, such a tendency to shirk its responsibility if the outset appear, we judge him there is not much chance ruffies of success, we will closely observe him. "
"The timing and patience are very similar, of course, there are also associated with the timing: When should profit taking it all depends on the target of the transaction during the Gulf War, I am engaged IBM deal, IBM has a lot of premium on hand?. buy option because of the uncertainties caused by the war, the high price volatility, premiums ruffies are very expensive in the whole band gains $ 15, I established a lot of spread positions, not just to earn 1/2 points profits if IBM opened on the rise $ 15, I can certainly ruffies earn millions of immediate profit. However, in order to earn millions of profits, I have to willing to earn $ 50,000, because I every 1/2 The selling point of batches up. "
"In some cases, prices climbed slowly or gradually grind, you have to be patient. Want to get to the bottom or the head of a man, always get a hot potato, sticky hands or my brother Peter trading in the company of his self-discipline is very strong, but also very good grasp time he tries to interpret the psychological and other players inside trading scheme if they hold short positions and panic, he will not end immediately its own long positions, because the price will be pushed higher. Conversely, if he also holds a short position, it is very impatient, immediately ruffies pull the trigger, because he knew the venue also need other short-covering. sometimes be patience, and sometimes can not have patience, you must understand what the difference is. "
* Loss will cause more losses in other parts of the.
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