story of stuff

Check the 20 minutes video on storyofstuff.com. Very powerful information in there.

易经八卦与股票期货市场（ZT)

易经八卦与股票期货市场,听起来是风马牛不相及的两样东西,用易经预测股票期货市场更被一些人诟病,这是对易经八卦的不了解不理解,以至于有了误解.
易经八卦是一个时空模型,能预测事物的将来结果,当然也能预测股票期货市场的未来走势,关键是找出两者之间的联系,搭起一座桥梁,用易经八卦预测股票期货市场的未来走势,就会成为可能!
市场有涨有落,八卦有阴有阳;
市场有强有弱,八卦有旺有衰;
市场有利多利空,八卦有吉有凶;
市场有价位,八卦有卦数;
市场有市值价格,八卦有财星财门;
市场有消息,八卦有消息卦;
市场有价值缩水,八卦有天蓬发威;
市场价值增长,八卦财神当值!
…….
把这些相同相似之处联系起来,用已知的八卦时空模型,去比附未知的股票期货市场,就会给你一个惊奇的结果!经过一段时间的实践,你就会感叹易经的神奇,祖国传统文化的伟大!

Goal setting for 2007

After I read Tyro’s new trading goal, I got an email about goal setting which I think worth sharing here:

“Make 2007 the Year You Finally _________”

How would YOU fill in that blank?

For example, let’s say your primary aspiration for the coming year is this:

“Make 2007 the year I finally become financially independent.”

But how do you make the leap from where you are today, to where you want to be in a year?

You can do that in 2 straightforward steps:

Determine your most important goals. Then, stay on track by breaking each goal into specific objectives and attacking those objectives on a monthly, weekly and daily basis.

Take ACTION each day towards achieving those goals. Spend the first hour of every day doing something important (not urgent, but important) that will advance you toward those objectives.

If you followed these steps, there would be a very high probability you could, for example, “Make 2007 the Year You Finally BECOME FINANCIALLY INDEPENDENT.“

One study tracked Harvard graduates. Those who didn’t set goals were no better off than anyone else in America. Imagine that — having a Harvard degree and getting nowhere with it!

Those who wrote down their goals did much better than their college-educated colleagues. And those who followed up on their goals on a daily basis, with ACTION, had extraordinarily successful lives!

many people fail to achieve their goals because of two reasons:

1) They believe that a goal setting program is not much different from writing down task lists on a scrap of paper, and so they don’t use one; or

2) They eagerly set their goals but find that they get distracted, side-tracked or discouraged.

Breaking down your dreams into measurable steps may seem to take away the romance of it all, at first… but the truth is, this process makes it much more likely you’ll actually achieve everything you set out to do.

People normally set their measurable goals to be happier, healthier, wealthier and/or wiser. So what’s my goals? Spending one month with my parents to care them more will make me happier; Establishing one habit to do exercise 1 hour a day, 3 days a week will be good for my health; Being a consistently profitable day-trader to achieve $120,000 annual gain. The following actions are needed:

• breaking each goal into specific objectives
• attacking those objectives on a monthly, weekly and daily basis
• Take ACTION each day towards achieving those goals.
• Spend the first hour of every day doing something important (not urgent, but important) that will advance you toward those objectives.

outside of trading life

Last night I thought about my afternoon trading. In past 3 months, I lost more than $20K in afternoon trading hours. I do not know what the reasons are. Some possible ones come to my mind:

• My strategy is counter-trend based. The afternoon trend is more trending than morning session with less pullback. My strategy need those small pullbacks to work. When market is trending strongly and I keep averaging down, the result is big loss.
• I did many impulse trades which not in my trading plan. In the morning I still have time to fix my mistake during lunch hour or afternoon session, but afternoon is short, when I was wrong I had no way out.
• Morning’s profit took me off guard. As I already had some profit in the morning, I started to think that I may be able to take more risks and trade those not so-good setup. A common scenario is, I was up several hundreds in the morning, then I start to think how about $1K today. It looks easy: just short 400 shares here and price down $0.25, I will have more than $1k today. But the real situation was that the price went up $0.25, then I averaged down another 400 shares because now I only needed $0.13 to reach my evil $1k target. You know the rest of the story. I might put myself in a 4000 shares position and only exit with $100-$200 profit if I was lucky, if not, I was is a deep hole forcing me to either realize big loss or carry overnight.
• Day work interruption or drained energy/focus could contribute some too.

The solution: No trade in afternoon.

With only 2 to 2.5 hours (6:30-9:00 PST) spent on trading, what can the time and energy saved  from no afternoon trading do for me? There are many things on my list:

• Be more concentrated on my day work. Without one eye on my trading PC, I can put both eyes on my day work PC (with brain too). It will definitely improve my productivity and cut my time to finish my assignments too. My day job not only provides me the money I need to pay bills, cover insurance, invest for retirement, it also saves me from isolation most traders suffered. Daily email exchange/phone calls with teammates keep me refreshed.
• Better for my health, more time to exercise, less time for eye glued to monitor.
• Enjoy more with my little son.
• Review past trades more closely.
• If I can success in this 2-hr trading method, I can move back to China and do day trading back there and still can go to sleep by midnight.
• Study penny stock/option trading for higher leverage
• Develop mechanic swing trading system using strategies like Laurence Conner’s “Turtle Soup”, “three-day unfilled gap reversals”, Linda Raschke’s “ANTI”, Joe Ross’s ” Camelback technique”. If mechanic trading system can be automated and result is profitable, it could be a good source for passive income.
• Have time to write e-book about my strategy and rules. I think writing a book is very good to sharp my trading mind and also good for me to improve my English skills.
• Develop more trading tools for better trade scanning, recording and analysis. I have an immediate need for a scanner which can combine my scanning rules with IB’s “hot by price range” market scanner.
• Read Chinese online novels and play online games. 起点cmfu.com has more than 1 million books (finished or unfinished). chinagames.com have more games than I can ever play.
• …

I come out this post just to convince myself that life outside of trading is also exciting and meaningful.

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