Tags |
|
|
Links |
|
|
Member You - The Power of Small Numbers: Trading Success is Based on Consistency, Not Home Runs
I used the word develop, not write on purpose in the title of this article. While your Operations Manual, Ops Manual, is a crucial tool in your Internal Management tool kit, you don't really write it.Instead you collect it. You gather in one place lots of the bits of information your business depends on to run smoothly, face crises calmly, and allow you to back fill in a hurry. With a complete Ops Manual in place, you, or
Imagine training yourself to take 10% profits. And what if you also train yourself never to put too much of your money into one trade, but instead to manage it carefully? Say you put only 10% or less of your total trading account into any one trade? If you could make just a 5% profit on only half of your total accoun
Microsoft Powerpoint is what I consider the most powerful presentation tool available on the market and whilst there are competitors, it is pretty obvious that Microsoft Powerpoint ranks as the number one presentation tool in the world. Just look at the number of seminars, lectures or presentations you go to and how many people are using Microsoft PowerPoint, in my experience, about 95% of them. Let me ask you a question th
Many beginning traders are seduced by the lure of the "home run", that big trade that makes you an instant millionaire and retires you overnight to your own private island paradise.
But then they wake up.
To really succeed at trading of any type, you need consistency, even if it's with small amounts. The ultimate goal is to keep trading over and over to eventual riches, but by always going for the big wins they usually wind up with big losses instead.
It's perfectly understandable for people to not be interested in small profits. After all, which would you rather have, big profits or small? But the fact is it's not such a simple choice. Small profits are more frequently achieved but when traders refuse to take them, they often lose much, much more.
Small but steady gains over time can add up to some truly massive numbers. For example, in options trading (my main area of focus for the last few years) it is not at all uncommon to hear about profits of 100%, 300%, even 1000% in a single trade! And while these results are absolutely possible, by expecting them to be our every day results we train our mind to accept nothing less, and eventually doom ourselves to disappointment.
Imagine training yourself to take 10% profits. And what if you also train yourself never to put too much of your money into one trade, but instead to manage it carefully? Say you put only 10% or less of your total trading account into any one trade? If you could make just a 5% profit on only half of your total account
When deciding on loans, it is important to be sure to do plenty of research. It is important to compare all the possible offers you have to choose from. Many times a cash advance from a loan agency is often one of the best choices as far as getting a low APR and finance charges. One aspect of cash advances that makes them appeal to almost anyone is that even if you have bad credit or no credit almost all companies that offer c
But then they wake up.
To really succeed at trading of any type, you need consistency, even if it's with small amounts. The ultimate goal is to keep trading over and over to eventual riches, but by always going for the big wins they usually wind up with big losses instead.
It's perfectly understandable for people to not be interested in small profits. After all, which would you rather have, big profits or small? But the fact is it's not such a simple choice. Small profits are more frequently achieved but when traders refuse to take them, they often lose much, much more.
Small but steady gains over time can add up to some truly massive numbers. For example, in options trading (my main area of focus for the last few years) it is not at all uncommon to hear about profits of 100%, 300%, even 1000% in a single trade! And while these results are absolutely possible, by expecting them to be our every day results we train our mind to accept nothing less, and eventually doom ourselves to disappointment.
Imagine training yourself to take 10% profits. And what if you also train yourself never to put too much of your money into one trade, but instead to manage it carefully? Say you put only 10% or less of your total trading account into any one trade? If you could make just a 5% profit on only half of your total accoun
India is a major market for BPO Outsourcing Services. Although young in the country, BPO industry has grown phenomenally and has become a very important part of the IT software and outsourcing services environment.Business Process Outsourcing or BPO is one of the fastest growing segments of the Information Technology Enabled Services or ITES industry. It is the long-term contracting of certain business processes to an outs
Small but steady gains over time can add up to some truly massive numbers. For example, in options trading (my main area of focus for the last few years) it is not at all uncommon to hear about profits of 100%, 300%, even 1000% in a single trade! And while these results are absolutely possible, by expecting them to be our every day results we train our mind to accept nothing less, and eventually doom ourselves to disappointment.
Imagine training yourself to take 10% profits. And what if you also train yourself never to put too much of your money into one trade, but instead to manage it carefully? Say you put only 10% or less of your total trading account into any one trade? If you could make just a 5% profit on only half of your total accoun
I talk to business owners every day. A common question I am asked is how to get clients.The number one mistake that I see these professionals making constantly is that they do passive marketing instead of action-oriented marketing, with no clear developed plan for securing clients.Passive marketing is really expecting business to come to you. We do it all the time. We expect our friends, family and colleagues to ref
Imagine training yourself to take 10% profits. And what if you also train yourself never to put too much of your money into one trade, but instead to manage it carefully? Say you put only 10% or less of your total trading account into any one trade? If you could make just a 5% profit on only half of your total accoun
Finding an internet market is easy. Finding a niche internet market that is PROFITABLE can be a bit more difficult, but actually quite simple when you understand what you are doing. The world of internet marketing and niche marketing is so vast that over 90% of internet marketers spend weeks and even months on the wrong market, only to find out after great investments of time and money, that there is nothing profitable to be made
Imagine training yourself to take 10% profits. And what if you also train yourself never to put too much of your money into one trade, but instead to manage it carefully? Say you put only 10% or less of your total trading account into any one trade? If you could make just a 5% profit on only half of your total account every month, compounding the profits monthly, you would have a better than 31% return in 1 year's time and over 115% in just 3 years! How many investments are you currently involved in that have returns like that?!
The key is small numbers, not large ones.
In trading, there are typically only 4 possible outcomes:
1. A large gain
2. A small gain
3. A large loss
4. A small loss
Assume that over time, your small gains and small losses will average each other out. That leaves you with only large gains and large losses. If you absolutely, positively never allow yourself to take a large loss, that leaves only the large gain. These large gains will ensure that you make a lot of money over the long run. You aren't specifically aiming for them, but we know statistically that as long as you can survive in the trading game long enough, you are bound to get some lucky "home runs" every now and then.
You can't win if you're not in the game, and the way to stay in the game is through proper money management, risk assessment, position sizing, etc. Without these components most new traders blow their accounts out and never return to the game.
Don't be one of those traders.
There are fortunes to be made in online trading, but you must be able to stay in the game. It is said that "the best offense is a good defense" and nowhere i
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.memberyou.net/article/104500/memberyou-The-Power-of-Small-Numbers-Trading-Success-is-Based-on-Consistency-Not-Home-Runs.html">The Power of Small Numbers: Trading Success is Based on Consistency, Not Home Runs</a>
BB link (for phorums):
[url=http://www.memberyou.net/article/104500/memberyou-The-Power-of-Small-Numbers-Trading-Success-is-Based-on-Consistency-Not-Home-Runs.html]The Power of Small Numbers: Trading Success is Based on Consistency, Not Home Runs[/url]
Related Articles:
Human Resources Job Description
Public Relations for Building Material Supply Companies
How To Have A Successful Home Based Business On The Internet
Bookmark it:
|