merdel santos' Blurty
 
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Below are the 3 most recent journal entries recorded in merdel santos' Blurty:

    Tuesday, August 31st, 2010
    5:56 pm
    Forex Trading Psychology — The Art Of Mind Control
    Indeed, you really do need to hone your skills at self-discipline and become a virtual Zen Master if you truly want to succeed in the fluid Forex market. Trading 24 hours per day (the market does close from Friday afternoon until Sunday) thanks to a network of inter-linked computers in financial institutions around the world, the Forex market is by far the largest and literally dwarfs the commodities and futures markets. Nearly 1.8 trillion dollars change hands each day and you can profit from the interchange of currencies—if you can control the four most dangerous emotions that tend to cloud judgment and cost you profits. These four emotions include:

    • Greed
    • Fear
    • Hope
    • Faith

    With the right investment strategy, the Forex market can certainly be very profitable but greed is always a factor in any human endeavor—especially investing. Greed causes perhaps the greatest problem when it comes to investing in the Forex—overtrading. When an investor overtrades, there is a greater potential to risk too much and enter too late in the trend. Back testing should identify trends and help you determine whether the window has already passed so be sure to stick with your investment strategy and remember that the market is always right—greed can cloud our judgment quicker than anything else but self-discipline and homework can help you maintain focus and profits.

    Fear is another emotion that has helped drive the markets from the very beginning and will surely continue to do so in the future—predictably. Fear always leads to panic selling but the market will always correct itself. The best way to combat fear is to learn and understand how the emotions affect the markets and then identify long term trends. These trends will help you plan the best investment strategy so that you can maximize profits but you need to have patience and look at what your charts are telling you.

    Hope is something we all need but it can definitely cause some mistaken investment decisions—especially when it comes to staying with a position too long. Exit points exist for a reason so stick with them because the numbers don’t lie—period.

    Unfortunately, we can sometimes have too much faith in our numbers. The short term trend can look fantastic and cause us to invest before we have properly researched all the facts—like the long term trends. If these two trends do not agree with one another, it is probably a bad idea to invest in a position.

    The market may be driven by emotions but it can also be predicted—because it has ALWAYS been driven by the same four basic emotions. To keep your head in the game, the profits up, and your analysis accurate—use these simple tips:

    • Block out noise—short term factors can affect long term profitability if you make rash investment decisions

    • Look at what the charts are telling you—the charts are your lifeblood so never ignore what they are saying because the market is always right and ego investing will kill any great strategy

    • Stick to investment strategy—this does not mean ignore the charts…simply continue to back test and refine analysis of charts to improve a strategy where the results have not been panning out as planned

    You don’t actually have to be a Zen Master to be successful on the Forex market. However, you do need to understand that there is a psychology to investing and that emotions are very powerful forces in any investment market—especially the very fluid Forex. A good investment strategy will consistently produce profits over the long term if properly followed so be sure to control your emotions, do your homework, and stick with your plan—and the pieces will fall in place.

    GRE Computer Adaptive Testing, or CATs, are quite different from the paper-and-pencil standardized tests you probably have seen in the past. Aside from being taken on computer at a special test center, the main difference between Cats and paper-and-pencil tests is that Cats "adapt" to your performance. For more info visit this link - Psychology Graduate School Search.
    5:55 pm
    Psychology Of Opportunity & Business Success
    Undeniably there are certain things that successful business people do with regards to opportunity that others do not. This may be perceived as almost a secret mode of the successful. The various literatures on entrepreneurship agree that there are certainly some traits that are adopted, either by instinct or deliberation.

    Innovation and entrepreneurship – what is the difference?

    Innovation is the adoption of ideas and taking action to implement them.

    Entrepreneurship, on the other hand, is all about spotting opportunities, gathering the resources and potential and getting the idea to market.

    With all this said, what is the psychology of success?

    It may be argued that successful people have the habit of doing things failures don’t like to do; they don’t like to do them either but this dislike is put firmly into second place behind the strength of purpose.

    Upon analysis, successful people seem to have the habit of doing things in a different way from the unsuccessful, thus showing that attitude is a key factor of the secret to success.

    Goals and success

    The very fact that goals are present shows that ambition and drive are present.

    Goals make people work that much harder and provide a reason to work.

    So it is necessary to be clear in one’s desires – lifestyle, car, house social life etc.

    Accept responsibility

    It is very obvious that successful people accept responsibility for the consequences of their actions. They don’t blame others and accept failures as being a product of their own behaviour. This enables people to take control of the situation rather than have the situation take control of them.


    Self – limiting beliefs

    This is the only ting that holds us back. Fear of failure is drummed into us from a very young age with the result that we are scared to mention our deepest ambitions. Believe it or not, fear of success is yet another limiter on our beliefs.
    So it is important to examine just what is holding us back, and realise that most fear is mental and not actual.


    Developing a positive attitude

    If one is surrounded by negative people then it is possible for this negativity to migrate and be absorbed by yourself.

    It is essential not to be surrounded by doom merchants who foist their own sense of inadequacy on to you and tell you why this or that will fail.


    Believe in yourself

    Self-belief and self confidence are probably the most important gifts we can have and pass on to our offspring. The reason for this is that this produces an atmosphere whereby we are willing to experiment and try new ideas.Also, importantly; we don’t measure ourselves by other people’s standards.


    Take the decision to be successful

    Success does not just happen to you, it must be worked at. Concentrated efforts and trade-offs are required but anything can be achieved.


    Time management

    Many successful entrepreneurs are habitual list makers. Time must be managed effectively therefore it is a must to have clarity of what you are trying to achieve.


    Set goals and achieve them

    What are your goals? What do you want to have achieved in the next three weeks, or in the next three months? What is it that you want to achieve in the next three years? A combination of all of the above will certainly improve one’s chance of success, irrespective of the chosen field.

    GRE Computer Adaptive Testing, or CATs, are quite different from the paper-and-pencil standardized tests you probably have seen in the past. Aside from being taken on computer at a special test center, the main difference between Cats and paper-and-pencil tests is that Cats "adapt" to your performance. For more info visit this link - Psychology Graduate School Search.
    5:55 pm
    Trading Psychology- A Losing And Successful Trader’s Mindset
    In trading psychology, there are two kinds of trader’s mindset. One that fails to seal a deal and one the recovers from failures. There are traders who see failures just a small setback. And experience where they get to objectify what went wrong to avoid similar mistakes to happen again. A winning trader sees these setback a parts of the steps towards success.

    The mindset of a losing trader does not work this way. Success only comes to those who really
    really want it. Losing traders tend to take responsibility for their actions. They tend to blame external factors for their mistakes and losses. In order for a losing trader to become a winner trader, one must take responsibility for his action.

    Every successful trader has a dream to succeed. Their thoughts are followed by actions. Losing traders tend to leave their thoughts hanging. They may spend too much of their time talking or visualizing. What is required is action. Traders who think too much tend to look for the perfect opportunity in a deal. What happens is that they also tend to switch or move from one method to another making it difficult for them to find the sign that they are looking for.

    Traders who think too much, needs to know the effect before they make any decision. Trading is a combination of risk taking and use of a good methodology. This kind of trader looks and demands perfection every time. This compromises their ability to take risks and therefore their ability to trade.

    The opposite of thinking traders are those new traders who lack patience and discipline. These type of traders get caught up in their emotions or ideas that they make decisions that they regret in the end. They rush without thinking of the trading plan or method. They are driven by success but they clearly lack discipline. They completely rely on their instincts. They may go on with a deal thinking that eventually everything will go all right if something goes wrong. Unlike thinking traders, undisciplined traders trade recklessly with their capital.

    So if you think you are on the losing trader’s other side of the fence, how to get to the other side? What is the running in head of a successful trader?

    Willpower and discipline are two things that separate a successful trader from the rest. When the trader’s confidence is down and shaken, then there will be bigger to resolve or willpower to finish the job.

    Successful traders are not afraid and overcome of fear when making chances. This does not necessarily mean that traders are reckless. One has to take calculated risks. There are also people who trade because they want to achieve their dreams. Successful traders sit down and depend on the plan that they made. A trading plan will make sure that you are following a trading method.

    Another key to success is implementing your strict management rules and following them mechanically everyday. Traders must be disciplined, stay in control and not let either fear or greed rule them. They must cut losses short, maximise gains and most importantly of all; protect their capital. A losing trader can change their trading mindset for the better. A healthy and a disciplined mindset can be the start of a losing trader’s journey to success and high profits.

    GRE Computer Adaptive Testing, or CATs, are quite different from the paper-and-pencil standardized tests you probably have seen in the past. Aside from being taken on computer at a special test center, the main difference between Cats and paper-and-pencil tests is that Cats "adapt" to your performance. For more info visit this link - Psychology Graduate School Search.
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