Profitable Trader Quotes

Somehow," she said coldly, "you have confused profitable and not profitable for right and wrong. I, however, have not.

Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.

The mind is a fascinating instrument that can make or break you.

Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness... Paradoxically (and as an unintended consequence) your trading performance will improve significantly.

A quiet mind is able to hear intuition over fear.

An astute trader aims to enter the market during quiet times and take profits during wild times.

Even utopias need a tax clause. For example, we could start with a transactions tax to rein in the financial industry. Back in 1970, American stocks were still held for an average of five years; forty years later, it’s a mere five days.21 If we imposed a transactions tax – where you would have to pay a fee each time you buy or sell a stock – those high-frequency traders who contribute almost nothing of social value would no longer profit from split-second buying and selling of financial assets. In

History cannot be explained deterministically and it cannot be predicted because it is chaotic. So many forces are at work and their interactions are so complex that extremely small variations in the strength of the forces and the way they interact produce huge differences in outcomes. Not only that, but history is what is called a ‘level two’ chaotic system. Chaotic systems come in two shapes. Level one chaos is chaos that does not react to predictions about it. The weather, for example, is a level one chaotic system. Though it is influenced by myriad factors, we can build computer models that take more and more of them into consideration, and produce better and better weather forecasts. Level two chaos is chaos that reacts to predictions about it, and therefore can never be predicted accurately. Markets, for example, are a level two chaotic system. What will happen if we develop a computer program that forecasts with 100 per cent accuracy the price of oil tomorrow? The price of oil will immediately react to the forecast, which would consequently fail to materialise. If the current price of oil is $90 a barrel, and the infallible computer program predicts that tomorrow it will be $100, traders will rush to buy oil so that they can profit from the predicted price rise. As a result, the price will shoot up to $100 a barrel today rather than tomorrow. Then what will happen tomorrow? Nobody knows.

Politics had seemed to become, even well before the age of Trump, a mortal affair. It was now zero-sum: When one side profited, another lost. One side’s victory was another’s death. The old notion that politics was a trader’s game, an understanding that somebody else had something you wanted—a vote, goodwill, old-fashioned patronage—and that in the end the only issue was cost, had gone out of fashion. Now it was a battle between good and evil.

Trading is not the same as investing. Trading includes a lot of fear, lack, and scarcity thinking. Traders aim to buy low and sell high in the quickest turnaround time possible, always fearful of potential outcomes and always needing to incessantly monitor the status of things and micromanage results. However, Investing includes a lot of faith, vision, trust, and endurance. Investors look at larger societal patterns and systems. Investors have wealth consciousness and they expect to earn exponentially larger profits over a longer timeframe.

Privilege implies exclusion from privilege, just as advantage implies disadvantage," Celine went on. "In the same mathematically reciprocal way, profit implies loss. If you and I exchange equal goods, that is trade: neither of us profits and neither of us loses. But if we exchange unequal goods, one of us profits and the other loses. Mathematically. Certainly. Now, such mathematically unequal exchanges will always occur because some traders will be shrewder than others. But in total freedom—in anarchy—such unequal exchanges will be sporadic and irregular. A phenomenon of unpredictable periodicity, mathematically speaking. Now look about you, professor—raise your nose from your great books and survey the actual world as it is—and you will not observe such unpredictable functions. You will observe, instead, a mathematically smooth function, a steady profit accruing to one group and an equally steady loss accumulating for all others. Why is this, professor? Because the system is not free or random, any mathematician would tell you a priori. Well, then, where is the determining function, the factor that controls the other variables? You have named it yourself, or Mr. Adler has: the Great Tradition. Privilege, I prefer to call it. When A meets B in the marketplace, they do not bargain as equals. A bargains from a position of privilege; hence, he always profits and B always loses. There is no more Free Market here than there is on the other side of the Iron Curtain. The privileges, or Private Laws—the rules of the game, as promulgated by the Politburo and the General Congress of the Communist Party on that side and by the U.S. government and the Federal Reserve Board on this side—are slightly different; that's all. And it is this that is threatened by anarchists, and by the repressed anarchist in each of us," he concluded, strongly emphasizing the last clause, staring at Drake, not at the professor.

Failure Is Not Predictive

In trading, 80 percent of your profits come from 20 percent of your ideas.

The idea that trading success is tied to finding some specific ideal approach is misguided. There is no single correct methodology.

But the fact is: The people who are really successful in trading are tremendously hard workers.

The trader's ideal entry point is after a stock consolidates in a new trading range and pulls back close to the moving average, then breaks out again above resistance.

Most people think the big money in crypto is in day trading, but the holy grail in cryptocurrency industry right now is spotting the gems before the public knows about it. Understanding pre-sale, public sale and pre-exchange purchase arrangements is so vital for massive profits.

Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.

Events, circumstances, and experiences arise and pass away. Winning trades, losing trades, fear, greed, sadness, happiness, and eventually your own life. Everything is in a constant flux. Learn to go through it with stability of mind. A meditation practice helps a lot.

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.

The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator’s primary interest lies in anticipating and profiting from market fluctuations. The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell. It is far from certain that the typical investor should regularly hold off buying until low market levels appear, because this may involve a long wait, very likely the loss of income, and the possible missing of investment opportunities. On the whole it may be better for the investor to do his stock buying whenever he has money to put in stocks, except when the general market level is much higher than can be justified by well-established standards of value. If he wants to be shrewd he can look for the ever-present bargain opportunities in individual securities. Aside from forecasting the movements of the general market, much effort and ability are directed on Wall Street toward selecting stocks or industrial groups that in matter of price will “do better” than the rest over a fairly short period in the future. Logical as this endeavor may seem, we do not believe it is suited to the needs or temperament of the true investor—particularly since he would be competing with a large number of stock-market traders and first-class financial analysts who are trying to do the same thing. As in all other activities that emphasize price movements first and underlying values second, the work of many intelligent minds constantly engaged in this field tends to be self-neutralizing and self-defeating over the years. The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored. He should never buy a stock because it has gone up or sell one because it has gone down. He would not be far wrong if this motto read more simply: “Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.” An

Investors look at economic fundamentals; traders look at each other; ‘quants’ look at the data. Dealing on the basis of historic price series was once described as technical analysis, or chartism (and there are chartists still). These savants identify visual patterns in charts of price data, often favouring them with arresting names such as ‘head and shoulders’ or ‘double bottoms’. This is pseudo-scientific bunk, the financial equivalent of astrology. But more sophisticated quantitative methods have since proved profitable for some since the 1970s’ creation of derivative markets and the related mathematics. Profitable

The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation when the market goes against you you hope that every day will be the last day and you lose more than you should had you not listened to hope to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you become fearful that the next day will take away your profit, and you get out too soon. Fear keeps you from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does.

Traders at other banks, many of which had outposts in the twin towers, realized that their first instincts had not been to fret about their colleagues’ well-being or the geopolitical implications of the attack, but instead to hunt for profitable trading opportunities. Then again, didn’t money make the world go round?

Investing is not a war or revolution or anything close to this. You are in this business to make an honest profit.

Even a poor trading system could make money with good money management.

Indeed, I have found that confidence is one of the most consistent traits exhibited by the successful traders I have interviewed.

Strive to enrich all lives, hearts and minds not just your own pockets

Generals always fight the last war,

Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.

Psychologists have done tests about how humans approach problem solving and found that we are somehow preprogrammed to look for confirmation and not for disconfirmation.

We see now a complex web of historical threads to ensnare blacks for slavery in America: the desperation of starving settlers, the special helplessness of the displaced African, the powerful incentive of profit for slave trader and planter, the temptation of superior status for poor whites, the elaborate controls against escape and rebellion, the legal and social punishment of black and white collaboration. The point is that the elements of this web are historical, not “natural.” This does not mean that they are easily disentangled, dismantled. It means only that there is a possibility for something else, under historical conditions not yet realized. And one of these conditions would be the elimination of that class exploitation which has made poor whites desperate for small gifts of status, and has prevented that unity of black and white necessary for joint rebellion and reconstruction.

There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.

If I try to teach you what I do, you will fail because you are not me. If you hang around me, you will observe what I do, and you may pick up some good habits. But there are a lot of things you will want to do differently. Colm O’Shea

As a trader, your losses are your cost of doing business and you cannot have profits without those losses. You must learn to think over the next 20 trades, not the next single trade. You must avoid attaching too much importance to any outcome.

never ask a man if he is from Sparta: If he were, he would have let you know such an important fact—and if he were not, you could hurt his feelings.” Likewise, never ask a trader if he is profitable; you can easily see it in his gesture and gait.

When asked what he thought the average trader did wrong, Tom Baldwin, who in the days before electronic trading was the largest individual trader in the Treasury bond pit, replied, “They trade too much. They don’t pick their spots selectively enough.

For many years Father Latour used to wonder if there would ever be an end to the Indian wars while there was one Navajo or Apache left alive. Too many traders and manufacturers made a rich profit out of that warfare; a political machine and immense capital were employed to keep it going.

Glasenberg’s bet on buying assets a decade earlier now helped to deliver profits for Glencore that surpassed even Marc Rich’s golden years. In 2003, the company’s net income exceeded $1 billion for the first time, and the following year it was more than $2 billion, and in 2007 the trading house made $6.1 billion.38

the split-strike conversion strategy. Option traders often referred to it as a “collar” or “bull spread.” Basically, it involved buying a basket of stocks, in Madoff’s case 30 to 35 blue-chip stocks that correlated very closely to the Standard & Poor’s (S&P) 100-stock index, and then protecting the stocks with put options. By bracketing an investment with puts and calls, you limit your potential profit if the market rises sharply; but in return you’ve protected yourself against devastating losses should the market drop. The calls created a ceiling on his gains when the market went up; the puts provided a floor to cut his losses when the market went down.

In the same mathematically reciprocal way, profit implies loss. If you and I exchange equal goods, that is trade: neither of us profits and neither of us loses. But if we exchange unequal goods, one of us profits and the other loses. Mathematically. Certainly. Now, such mathematically unequal exchanges will always occur because some traders will be shrewder than others. But in total freedom—in anarchy—such unequal exchanges will be sporadic and irregular. A phenomenon of unpredictable periodicity, mathematically speaking. Now look about you, professor—raise your nose from your great books and survey the actual world as it is—and you will not observe such unpredictable functions. You will observe, instead, a mathematically smooth function, a steady profit accruing to one group and an equally steady loss accumulating for all others. Why is this, professor? Because the system is not free or random, any mathematician would tell you a priori. Well, then, where is the determining function, the factor that controls the other variables? You have named it yourself, or Mr. Adler has: the Great Tradition. Privilege, I prefer to call it. When A meets B in the marketplace, they do not bargain as equals. A bargains from a position of privilege; hence, he always profits and B always loses. There is no more Free Market here than there is on the other side of the Iron Curtain. The privileges, or Private Laws—the rules of the game, as promulgated by the Politburo and the General Congress of the Communist Party on that side and by the U.S. government and the Federal Reserve Board on this side—are slightly different; that’s all. And it is this that is threatened by anarchists, and by the repressed anarchist in each of us,

Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. They no longer fear the erratic behavior of the market. They learn to focus on the information that helps them spot opportunities to make a profit, rather than focusing on the information that reinforces their fears.

In the decade to 2011, the world’s largest oil, metal and agricultural trading houses – Vitol, Glencore and Cargill, respectively – enjoyed a combined net income of $76.3 billion (see table on page 332). That was an astonishing amount of money. It was ten times the profits the traders were generating in the 1990s.16 It was more than either Apple or Coca-Cola made over the same period.17 And it would have been enough money to buy entire titans of corporate America, such as Boeing or Goldman Sachs.18

During the thirteenth century Genoese traders in the Black Sea port of Caffa struck a deal to run slaves captured in the Caucasus by the Mongols to the Mamluk rulers of Egypt, shipping them to the Nile Delta via the Black Sea and Mediterranean, whereupon the slaves would be forcibly impressed into the Mamluk army. Effectively this meant that the Christian Genoese were directly responsible for supplying workers to a power that was doing its best to crush the western crusader states of Syria and Palestine.

By 1900, a small white minority radiating out from Europe would come to control most of world’s land surface, imposing the imperatives of a commercial economy and international trade on Asia’s mainly agrarian societies. Europeans backed by garrisons and gunboats could intervene in the affairs of any Asian country they wished to. They were free to transport millions of Asian labourers to far-off colonies (Indians to the Malay Peninsula, Chinese to Trinidad); exact the raw materials and commodities they needed for their industries from Asian economies; and flood local markets with their manufactured products. The peasant in his village and the market trader in his town were being forced to abandon a life defined by religion, family and tradition amid rumours of powerful white men with a strange god-on-a-cross who were reshaping the world- men who married moral aggressiveness with compact and coherent nation-states, the profit motive and superior weaponry, and made Asian societies seem lumberingly inept in every way, unable to match the power of Europe or unleash their own potential.

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believe in the trade. On the one hand, you don’t want the loss on the position to get any worse, but, on the other hand, you are concerned that as soon as you get out, the market will turn around in favor of the liquidated trade. This conflict can cause traders to freeze and do nothing as their losses mount. Steve Cohen also had some useful advice about how to handle this type of situation. “If the market is moving against you, and you don’t know why, take in half. You can always put in on again. If you do that twice, you’ve taken in three-quarters of your position. Then what’s left is no longer a big deal.

In spring that year (1930), by a symbolic act whose significance I myself did not grasp, a march through the stifling heat to the sea with a little band of followers to make illegal salt, Gandhi had aroused the Indian people from the lethargy into which they had long sunk after nearly three centuries of British rule, if you counted the incredible period when they were governed for two hundred years not by a foreign country but by a bizarre band of traders greedy for profit, the honourable members and agents of the East India Company. These hustlers had first came out from England early in the seventeenth century, found the pickings beyond their fondest dreams, and by hook and by crook and by armed might, had stolen the country from the Indians. It was the only instance in history, I believe, of a private commercial enterprise taking over a vast, heavily populated subcontinent, ruling it with an iron hand and exploiting it for private profit. Probably only the British, with their odd assortment of talents, their great entrepreneurial drive, their ingrained feeling of racial superiority, of which Rudyard Kipling would sing so shrilly, their guile in dividing the natives and turning them against one another, and their ruthlessness in putting down all who threatened their rule and their profits, could have done it, and got away with it so long. Perhaps only the Indians, divided as they were after the decay of the Mughal Empire into dozens of quarrelling, warring states, great and small, could have succumbed so easily and so quickly to the aggression of a handful determined merchants, backed by a small handful of British troops in the service of the Company, and remained so long in abject subjection. As Radhakrishnan, the great Hindu philosopher, put it in our own time: "The day India lost her freedom, a great curse fell on her and she became petrified.

HANDLE WITH CARE Expectations On 31 January 2006, Google announced its financial results for the final quarter of 2005. Revenue: up 97%. Net profit: up 82%. A record-breaking quarter. How did the stock market react to these phenomenal figures? In a matter of seconds, shares tumbled 16%. Trading had to be interrupted. When it resumed, the stock plunged another 15%. Absolute panic. One particularly desperate trader inquired on his blog: ‘What’s the best skyscraper to throw myself off?’ What had gone wrong? Wall Street analysts had anticipated even better results, and when those failed to materialise, $20 billion was slashed from the value of the media giant. Every investor

They believed that the market was the ultimate judge of their work and their worth. The market created a true meritocracy: you either made money because you made good trading decisions or you lost money because you made bad ones. Enron traders didn't concern themselves with ethics or morality apart from the unyielding judgment of the markets. Maximizing profit was not inconsistent with doing good, they believed, but an inherent part of it, and the judge of good and bad was the immediate consequence of a split-second trade. The highest compliment a trader could pay a colleague was to call him intellectually pure. The worst insult was to accuse someone of making a deal that wasn't economic.

Snowbound up here with you. Without books or business to occupy my time, I wonder what I’ll do,” he added with a leer. She blushed gorgeously, but her voice was serious as she studied his face. “If things hadn’t gone so well for you-if you hadn’t accumulated so much wealth-you could have been happy up here, couldn’t you?” “With you?” “Of course.” His smile was as somber as hers. “Absolutely.” “Although,” he added, linking her hands behind her back and drawing her a little closer, “you may not want to remain up here when you learn your emeralds are back in their cases at Montmayne.” Her head snapped up, and her eyes shone with love and relief. “I’m so glad. When I realized Robert’s story had been fabrication, it hurt beyond belief to realize I’d sold them.” “It’s going to hurt more,” he teased outrageously, “when you realize your bank draft to cover their cost was a little bit short. It cost me $45,000 to buy back the pieces that had already been sold, and $5,000 to buy the rest back from the jeweler you sold them to.” “That-that unconscionable thief!” she burst out. “He only gave me $5,000 for all of them!” She shook her head in despair at Ian’s lack of bargaining prowess. “He took dreadful advantage of you.” “I wasn’t concerned, however,” Ian continued teasing, enjoying himself hugely, “because I knew I’d get it all back out of your allowance. With interest, of course. According to my figures,” he said, pausing to calculate in his mind what it would have taken Elizabeth several minutes to figure out on paper, “as of today, you now owe me roughly $151,126.” “One hundred and- what?” she cried, half laughing and half irate. “There’s the little matter of the cost of Havenhurst. I added that in to the figure.” Tears of joy clouded her magnificent eyes. “You bought it back from that horrid Mr. Demarcus?” “Yes. And he is ‘horrid.’ He and your uncle ought to be partners. They both possess the instincts of camel traders. I paid $100,000 for it.” Her mouth fell open, and admiration lit her face. “$100,000! Oh, Ian-“ “I love it when you say my name.” She smiled at that, but her mind was still on the splendid bargain he’d gotten. “I could not have done a bit better!” she generously admitted. “That’s exactly what he paid for it, and he told me after the papers were signed that he was certain he could get $150,000 if he waited a year or so.” “He probably could have.” “But not from you!” she announced proudly. “Not from me,” he agreed, grinning. “Did he try?” “He tried for $200,000 as soon as he realized how important it was to me to buy it back for you.” “You must have been very clever and skillful to make him agree to accept so much less.” Trying desperately not to laugh, Ian put his forehead against hers and nodded. “Very skillful,” he agreed in a suffocated voice. “Still, I wonder why he was so agreeable?” Swallowing a surge of laughter, Ian said, “I imagine it was because I showed him that I had something he needed more than he needed an exorbitant profit.” “Really?” she said, fascinated and impressed. “What did you have?” “His throat.

Agricultural commodity traders, on the other hand, buy from thousands of individual farmers. That makes the traders’ job harder, but it also provides an opportunity: dealing with so many farmers gives the largest traders valuable information. Long before the concept of ‘big data’ became popular, the agricultural traders were putting it to work, aggregating information from thousands of farmers to get a real-time insight into the state of the markets. Each month, when the US Department of Agriculture published its update on the world’s key crops, the agricultural houses’ traders were able to bet on what it would say with near-certainty that they were right. Within most trading houses, there was a group of traders whose sole job was to speculate profitably with the company’s money – they were known as the proprietary, or ‘prop’, traders.

If a society, a city, or a territory, were to guarantee the necessaries of life to its inhabitants (and we shall see how the conception of the necessaries of life can be so extended as to include luxuries), it would be compelled to take possession of what is absolutely needed for production; that is to say — land, machinery, factories, means of transport, etc. Capital in the hands of private owners would be expropriated and returned to the community. The great harm done by bourgeois society, as we have already mentioned, is not only that capitalists seize a large share of the profits of each industrial and commercial enterprise, thus enabling them to live without working, but that all production has taken a wrong direction, as it is not carried on with a view to securing well-being to all. For this reason we condemn it. Moreover, it is impossible to carry on mercantile production in everybody’s interest. To wish it would be to expect the capitalist to go beyond his province and to fulfill duties that he cannot fulfill without ceasing to be what he is — a private manufacturer seeking his own enrichment. Capitalist organization, based on the personal interest of each individual trader, has given all that could be expected of it to society — it has increased the productive force of work. The capitalist, profiting by the revolution effected in industry by steam, by the sudden development of chemistry and machinery, and by other inventions of our century, has endeavoured in his own interest to increase the yield of work, and in a great measure he has succeeded. But to attribute other duties to him would be unreasonable. For example, to expect that he should use this superior yield of work in the interest of society as a whole, would be to ask philanthropy and charity of him, and a capitalist enterprise cannot be based on charity.

To summarize my trading strategy for VWAP Moving Average Trend trading: When I am monitoring a Stock in Play and notice a trend is establishing around a moving average (usually 9 EMA) in the Late-Morning session, I consider VWAP Moving Average Trend trading. If the stock has already lost the VWAP (from a VWAP False Breakout), it most likely will stay below the VWAP. Similarly, if the stock squeezed above the VWAP in the Late-Morning session, it is most likely that it will stay above the VWAP, as it means the buyers are in control. Once I learn that either 9 or 20 EMA are acting as either a support or resistance, I buy the stock after confirmation of moving averages as a support, but only if I can clearly see it “held” the VWAP. Similarly, I go short below the moving averages if I have the confirmation that it has “lost” the VWAP in the Late-Morning session. I buy or sell short as close as possible to the moving average line (in order to have a small stop). My stop will usually be 5 to 10 cents below the moving average line or, if a candlestick, close below the moving average (for long positions). For short positions, a close above the moving average would stop me out. I ride the trend until the break of 9 or 20 EMA. Usually, 20 EMA is a stronger support or resistance, so it is better to wait for that. I usually do not use trailing stops and I constantly monitor the trend with my eyes, but I know that many traders also use trailing stops. If the stock is moving really high away from the moving average, offering me an equally really nice unrealized profit, I may take some profit, usually at the 1/4 or half-position. I do not always wait until the break of moving average for my exit. Traders will say: you can never go broke by taking good profits. If the price pulls back to the moving average, I may add again to my position and continue the VWAP Moving Average Trend trade. Remember, when you take profit, you should always bring your stop loss to break-even. Never go red on a stock that you already booked some profit on.

If you live in New York City, for example, chances are you will not be going outside for a leisurely stroll down Fifth Avenue in shorts and a T-shirt and flip-flops in the month of February. Why is that? Because, if you’ve lived there for a while and experienced the local seasons, you’ve already identified that in February it will be pretty darn cold. To appropriately adapt, you will want to wear a heavy winter coat and maybe gloves and a scarf and earmuffs. It’s the same with the markets. You need to have “lived there for a while” and experienced a variety of market cycles so you know what “to wear,” or rather how to adapt, so that you are financially comfortable. Instead of knowing to wear a winter coat in February, you will know that in a choppy, sideways, bracketed market you need to adapt your system and rules so that you do not get whipsawed and stopped out a lot. Or you may need to recognize a bull market changing to a bear market so that you can exit your position in a timely fashion to lock in profits.

To summarize my trading strategy for VWAP False Breakouts: Once I’ve made my watchlist for the day, I monitor the price action around VWAP at the Open and during the morning session for the Stocks in Play. A good Stock in Play shows respect toward VWAP. If the Stock in Play sells off below the VWAP but bounces back and breaks out above the VWAP, it means the buyers are gaining control and short sellers perhaps had to cover. However, if it loses the VWAP again in the Late-Morning (from 10:30 a.m. to 12 p.m.), it means that this time the buyers were mostly weak or exhausted. This provides a short opportunity with a stop loss above VWAP. The profit target can be the by then low of the day, or any other important technical level. I try to go short when a Stock in Play has lost the VWAP. Sometimes I go short before the price loses the VWAP, to get a good entry while it is ticking down toward VWAP in the anticipation of a VWAP loss. However, be very careful, for the job of a trader is identification and not anticipation. Take small size and add more shares on the way down if you have truly identified a good trading setup.

And as a long-short fund, he'd also been obligated to take short positions — betting against companies — which was a tactic that, to most experts in finance, was uncontroversial. The thinking went, when companies were performing poorly, or were mismanaged, or were in an industry that was being overrun, or were simply likely to fail, taking a short position wasn't just logical — it protected the marketplace by pointing out overpriced stocks, prevented fraud by acting as a check against dubious management, and poked holes in potential bubbles. Short sellers also added liquidity and volume to a stock — because they were obligated to buy the stock back at some point in the future. Yes, short sellers profited when companies failed, but usually a short seller wasn't banking on a company failing — just that the stock's price would eventually correct toward its true valuation. Sometimes, though, a trader picked up a short position because the company in question really was going to fail. Because, perhaps, it was in an industry that was dying; had management that seemed completely unable or unwilling to pivot; and had deep fundamental issues in its financing that seemed impossible to overcome.

And I’m not kidding when I say “craziness.” The University of St. Gallen, Switzerland, has come out with a study that compares traders with psychopaths. The study reviewed the results from an existing study comparing 24 psychopaths in German high-security hospitals with a control group of 27 “normal” people. The funny thing is, this control group of “normal” people turned out to be traders. Stock guys, currency and commodity traders, and derivative types happened to be the normal control group that was stacked up against the high-security, barbed-wire-enclosed psychopaths. In the end, the performance of the trading group was actually worse than that of the psychopaths. The study indicated that traders, “Have a penchant for immense destruction,” and that their mindset would lead them to the logical conclusion of “beating one of the neighbor’s expensive cars with a baseball bat with the sole objective of owning the most beautiful car in the neighborhood.” In other words, traders are nuts. Indeed if you look up the textbook definition of a psychopath, here are some of the tidbits you’ll uncover: antisocial behavior, poor judgment and failure to learn from experience, inability to see oneself as others do, inexplicable impulsiveness … sounds like a typical trader who is struggling against the market and can’t figure out why.

Cohen continued to struggle with his own well-being. Even though he had achieved his life’s dream of running his own firm, he was still unhappy, and he had become dependent on a psychiatrist named Ari Kiev to help him manage his moods. In addition to treating depression, Kiev’s other area of expertise was success and how to achieve it. He had worked as a psychiatrist and coach with Olympic basketball players and rowers trying to improve their performance and overcome their fear of failure. His background building athletic champions appealed to Cohen’s unrelenting need to dominate in every transaction he entered into, and he started asking Kiev to spend entire days at SAC’s offices, tending to his staff. Kiev was tall, with a bushy mustache and a portly midsection, and he would often appear silently at a trader’s side and ask him how he was feeling. Sometimes the trader would be so startled to see Kiev there he’d practically jump out of his seat. Cohen asked Kiev to give motivational speeches to his employees, to help them get over their anxieties about losing money. Basically, Kiev was there to teach them to be ruthless. Once a week, after the market closed, Cohen’s traders would gather in a conference room and Kiev would lead them through group therapy sessions focused on how to make them more comfortable with risk. Kiev had them talk about their trades and try to understand why some had gone well and others hadn’t. “Are you really motivated to make as much money as you can? This guy’s going to help you become a real killer at it,” was how one skeptical staff member remembered Kiev being pitched to them. Kiev’s work with Olympians had led him to believe that the thing that blocked most people was fear. You might have two investors with the same amount of money: One was prepared to buy 250,000 shares of a stock they liked, while the other wasn’t. Why? Kiev believed that the reluctance was a form of anxiety—and that it could be overcome with proper treatment. Kiev would ask the traders to close their eyes and visualize themselves making trades and generating profits. “Surrendering to the moment” and “speaking the truth” were some of his favorite phrases. “Why weren’t you bigger in the trades that worked? What did you do right?” he’d ask. “Being preoccupied with not losing interferes with winning,” he would say. “Trading not to lose is not a good strategy. You need to trade to win.” Many of the traders hated the group therapy sessions. Some considered Kiev a fraud. “Ari was very aggressive,” said one. “He liked money.” Patricia, Cohen’s first wife, was suspicious of Kiev’s motives and believed that he was using his sessions with Cohen to find stock tips. From Kiev’s perspective, he found the perfect client in Cohen, a patient with unlimited resources who could pay enormous fees and whose reputation as one of the best traders on Wall Street could help Kiev realize his own goal of becoming a bestselling author. Being able to say that you were the

To summarize my trading strategy for the ABCD Pattern: When I find a Stock in Play, either from my Gappers watchlist or from one of my scanners, or when I’m advised by someone in our chatroom that a stock is surging up from point A and reaching a significant new high for the day (point B), I wait to see if the price makes a support higher than point A. I call this point C. I do not jump into the trade right away. I watch the stock during its consolidation period. I choose my share size and stop loss and profit target exit strategy. When I see that the price is holding support at point C, I enter the trade close to the price of point C in anticipation of moving forward to point D or higher. Point C can also be identified from a 1-minute chart. It is important to look at both time frames in order to gain a better insight. My stop is the loss of point C. If the price goes lower than point C, I sell and accept the loss. Therefore, it is important to buy the stock close to point C to minimize the loss. Some traders wait and buy only at point D to ensure that the ABCD Pattern is really working. In my opinion, that approach basically reduces your reward while at the same time increases your risk. If the price moves higher, I sell half of my position at point D, and bring my stop higher to my entry point (break-even). I sell the remaining position as soon as my target hits or I sense that the price is losing steam or that the sellers are acquiring control of the price action. When the price makes a new low on my 5-minute chart, it is a good indicator that the buyers are almost exhausted.

By March, front-line doctors around the world were spontaneously reporting miraculous results following early treatment with HCQ, and this prompted growing anxiety for Pharma. On March 13, a Michigan doctor and trader, Dr. James Todaro, M.D., tweeted his review of HCQ as an effective COVID treatment, including a link to a public Google doc.48,49 Google quietly scrubbed Dr. Todaro’s memo. This was six days before the President endorsed HCQ. Google apparently didn’t want users to think Todaro’s message was missing; rather, the Big Tech platform wanted the public to believe that Todaro’s memo never even existed. Google has a long history of suppressing information that challenges vaccine industry profits. Google’s parent company Alphabet owns several vaccine companies, including Verily, as well as Vaccitech, a company banking on flu, prostate cancer, and COVID vaccines.50,51 Google has lucrative partnerships with all the large vaccine manufacturers, including a $715 million partnership with GlaxoSmithKline.52 Verily also owns a business that tests for COVID infection.53 Google was not the only social media platform to ban content that contradicts the official HCQ narrative. Facebook, Pinterest, Instagram, YouTube, MailChimp, and virtually every other Big Tech platform began scrubbing information demonstrating HCQ’s efficacy, replacing it with industry propaganda generated by one of the Dr. Fauci/Gates-controlled public health agencies: HHS, NIH and WHO. When President Trump later suggested that Dr. Fauci was not being truthful about hydroxychloroquine, social media responded by removing his posts.

In his job as a financial educator, Keith had spent a fair amount of time breaking down the act — and sometimes art — of short selling, in a way that less savvy customers could understand. When a trader believed a company was in trouble, and its stock was overvalued, they could 'borrow' shares, sell them, and then when the stock went down as they'd predicted, rebuy the shares at a lower price, return them to whoever they'd borrowed them from, and pocket the difference. If GameStop was trading at 5, you could borrow 100 shares, sell them for $500; when the stock hit 1, you bought back the 100 shares for $100, returned them, pocketing $400 for yourself. You paid a little fee to the lender for their trouble and came out with a tidy profit. But what happened if the stock went up instead of down? What happened if GameStop figured out how to capitalize on its millions of nostalgic customers, who spent billions on video games every year? What if the stock went to 10 instead of 1? What happened was, the short seller was royally screwed. He'd borrowed those 100 shares and sold them at 5. Now the stock was at 10, but he still needed to return his 100 shares. Buying them on the market at 10 meant spending $1000. And what was worse, when he'd borrowed the shares, he'd agreed on a timeline to return them. There was a ticking clock hanging over his head, so he had a choice — buy the shares back at 10 now, losing $500 on the deal — or wait a little longer, hoping the stock went back down before his time limit was up. And what if he waited, and the stock kept going up? Sooner or later, he had to buy those shares back. Even if the stock went to 15, 20 — he was on the hook for those 100 shares. Theoretically, there was no limit to how much he could lose.

The fragility of the US economy had nearly destroyed him. It wasn't enough that Citadel's walls were as strong and impenetrable as the name implied; the economy itself needed to be just as solid. Over the next decade, he endeavored to place Citadel at the center of the equity markets, using his company's superiority in math and technology to tie trading to information flow. Citadel Securities, the trading and market-making division of his company, which he'd founded back in 2003, grew by leaps and bounds as he took advantage of his 'algorithmic'-driven abilities to read 'ahead of the market.' Because he could predict where trades were heading faster and better than anyone else, he could outcompete larger banks for trading volume, offering better rates while still capturing immense profits on the spreads between buys and sells. In 2005, the SEC had passed regulations that forced brokers to seek out middlemen like Citadel who could provide the most savings to their customers; in part because of this move by the SEC, Ken's outfit was able to grow into the most effective, and thus dominant, middleman for trading — and especially for retail traders, who were proliferating in tune to the numerous online brokerages sprouting up in the decade after 2008. Citadel Securities reached scale before the bigger banks even knew what had hit them; and once Citadel was at scale, it became impossible for anyone else to compete. Citadel's efficiency, and its ability to make billions off the minute spreads between bids and asks — multiplied by millions upon millions of trades — made companies like Robinhood, with its zero fees, possible. Citadel could profit by being the most efficient and cheapest market maker on the Street. Robinhood could profit by offering zero fees to its users. And the retail traders, on their couches and in their kitchens and in their dorm rooms, profited because they could now trade stocks with the same tools as their Wall Street counterparts.

The National Socialist Movement has, besides its delivery from the Jewishcapitalist shackles imposed by a plutocratic-democratic, dwindling class of exploiters at home, pronounced its resolve to free the Reich from the shackles of the Diktat of Versailles abroad. The German demands for a revision were an absolute necessity, a matter of course for the existence and the honor of any great people. Posterity will some day come to regard them as exceedingly modest. All these demands had to be carried through, in practice against the will of the British French potentates. Now more than ever we all see it as a success of the leadership of the Third Reich that the realization of these revisions was possible for years without resort to war. This was not the case-as the British and French demagogues would have it-because we were not then in a position to wage war. When it finally appeared as though, thanks to a gradually awakening common sense, a peaceful resolution of the remaining problems could be reached through international cooperation, the agreement concluded in this spirit on September 29, 1938, at Munich by the four great states predominantly involved, was not welcomed by public opinion in London and Paris, but was condemned as a despicable sign of weakness. The Jewish capitalist warmongers, their hands covered with blood, saw in the possible success of such a peaceful revision the vanishing of plausible grounds for the realization of their insane plans. Once again that conspiracy of pitiful, corrupt political creatures and greedy financial magnates made its appearance, for whom war is a welcome means to bolster business. The international Jewish poison of the peoples began to agitate against and to coroode healthy minds. Men of letters set out to portray decent men who desired peace as weaklings and traitors, to denounce opposition parties as a “fifth column,” in order to eliminate internal resistance to their criminal policy of war. Jews and Freemasons, armament industrialists and war profiteers, international traders and stockjobbers, found political blackguards: desperados and glory seekers who represented war as something to be yearned for and hence wished for. Adolf Hitler - speech to the Reichstag Berlin, July 19, 1940

Should You Risk Buying a Verified Bybit Account? An Unfiltered Guide In today’s high-stakes crypto economy, access is power, and speed is profit. With centralized exchanges tightening their KYC (Know Your Customer) requirements, many traders are turning to the underground to buy verified Bybit accounts. But the question remains: Should you risk it? Just Knock us For Instant Reply Email : infocashappverified@gmail.com ❖❖ WhatsApp: ‪+1 (209) 503-7041‬ ❖❖ Telegram: @cashappverified3 This no-fluff, unfiltered guide breaks down everything you need to know—from legal implications to black-market realities. Let’s explore the full landscape, so you can make a calculated decision, not a costly mistake. What Is a Verified Bybit Account? A verified Bybit account is one that has passed the exchange’s KYC procedures, which typically include: Government-issued ID verification Facial recognition or selfie submission Proof of residence (e.g., utility bills or bank statements) This unlocks full access to features like higher withdrawal limits, fiat on-ramp/off-ramp, derivatives trading, and increased security protocols. Unverified users are significantly limited in what they can do on the platform. Why People Buy Verified Bybit Accounts The motivation behind purchasing a verified account is clear: bypass restrictions and operate anonymously. Here's why this trend is growing: 1. Avoiding KYC Verification Many traders prefer not to submit sensitive personal information to centralized exchanges, fearing data leaks, surveillance, or future tax implications. 2. Access from Restricted Jurisdictions Bybit is not accessible in certain countries due to regulatory restrictions. Buying a verified account allows users from banned regions to participate. 3. Immediate Trading Access Rather than waiting days for KYC approval, a verified account offers instant access to full trading features, including leverage, withdrawals, and API functions. Where Are Verified Bybit Accounts Sold? These accounts are frequently sold on Telegram groups, Discord servers, dark web forums, and shady marketplaces. Pricing varies but typically ranges from $100 to $500, depending on: KYC Level (Level 1 or 2) Origin of documents (some countries have looser regulations) Account age and history However, this leads to the core question… Is It Safe to Buy a Verified Bybit Account? 1. Violation of Bybit’s Terms of Service Buying or selling accounts is a direct breach of Bybit's user agreement. This alone is grounds for permanent suspension and seizure of funds. 2. High Risk of Scams Buyers often receive: Recycled accounts Fake login credentials Accounts that are already flagged or under review Scammers thrive in this niche because there's no legal protection for buyers. 3. Account Repossession The original owner can easily regain access by submitting proof of identity to Bybit’s support. Many buyers are left locked out after transferring funds to such accounts. 4. Legal and Regulatory Consequences Depending on your jurisdiction, using a false identity or stolen credentials can be considered fraud or identity theft, leading to potential criminal charges. Alternatives to Buying a Verified Bybit Account If your goal is privacy or unrestricted access, consider legal and sustainable alternatives: 1. Use Decentralized Exchanges (DEXs) Platforms like Uniswap, dYdX, and PancakeSwap offer full trading functionality without any KYC requirements. You maintain custody of your funds and identity.

How to quickly buy verified Bybit accounts In the ever-evolving world of cryptocurrency trading, speed and access often determine success. As platforms like Bybit continue to tighten their security and compliance regulations, a growing number of traders are tempted to take a shortcut: buying a verified Bybit account. On the surface, it might seem like a fast way to start trading with full privileges. But beneath the convenience lies a web of risks, bans, scams, and legal implications. Just Knock us For Instant Reply Email : infocashappverified@gmail.com ❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖ WhatsApp: ‪+1 (209) 503-7041‬ ❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖❖ Telegram: @cashappverified3 So, what exactly does it mean to buy a verified Bybit account, and is it a quick start to profits or a fast track to disaster? Let’s dig deep into this controversial practice and explore both sides of the coin. What Is a Verified Bybit Account? A verified Bybit account is an account that has completed the platform's full KYC (Know Your Customer) process. This includes: Uploading a government-issued ID Submitting proof of address Performing facial recognition or biometric scans Occasionally participating in video interviews Once verified, the user gains access to: Higher withdrawal limits Fiat on-ramps and off-ramps Bybit Launchpad and Earn features Advanced trading tools and API integrations Reduced platform restrictions and better support Bybit, being a major global exchange, requires this verification for compliance with international anti-money laundering laws and to protect its user base. Why People Are Buying Verified Bybit Accounts 1. Skipping the KYC Process Some traders find the KYC process too time-consuming or intrusive. Purchasing a verified account offers immediate access to trading features without submitting personal documents. 2. Access from Restricted Regions Countries like the United States, China, Canada, and others are restricted from accessing Bybit. Traders from these countries buy accounts created in non-restricted jurisdictions to bypass the geo-block. 3. Using Multiple Accounts Savvy traders often want to use multiple accounts for strategies like arbitrage, bot trading, or referral farming. Rather than registering several identities, they purchase ready-made verified accounts. 4. Preserving Privacy Some crypto users highly value anonymity. Buying a verified account lets them trade under a different identity, protecting their real-world data from centralized platforms. How the Underground Market Works The marketplace for verified Bybit accounts thrives in encrypted corners of the internet, including: Telegram groups and Discord servers The Pros of Buying a Verified Bybit Account Let’s look at the reasons why some people are still taking the risk: ✔️ Instant Access You can start trading immediately, without the hassle of paperwork or approval delays. ✔️ High Limits Enjoy full platform capabilities—higher withdrawal limits, fiat gateways, and advanced trading tools. ✔️ Anonymity You don’t have to reveal your identity if you're using someone else's verified profile (though this is extremely risky). ✔️ Access to Promotions Bybit often runs exclusive promotions for verified users. A purchased account can give you access to rewards that would otherwise be off-limits. The Serious Risks of Buying Verified Accounts Now, here’s where things get dangerous—really dangerous. ⚠️ 1. Permanent Bans Bybit’s systems are highly sophisticated. They monitor IP addresses, device fingerprints, geolocation mismatches, login behaviors, and trade patterns. If your activity doesn’t match the original KYC profile, your account will likely be flagged and banned—with zero

Households supply their labour and capital in return for wages and profits, and then spend that income buying goods and services from firms. It is this interdependence of production and consumption that creates income’s circular flow. And that flow would be uninterrupted if it were not for three outer loops—involving commercial banks, government and trade—that divert some income for other uses. The model shows banks siphoning off income as savings and then returning it as investment. Government extracts income as taxes but re-injects it as public spending. Overseas traders need to be paid for the nation’s imports but in turn pay out for its exports. All three of these diversions create leakages from and injections into the market’s circular flow but, taken as a whole, the system is closed and complete—not unlike a circular set of plumbed pipes with water

Professional traders aim to enter the trade during quiet times and take their profits during the volatile times.

As a retail day trader, you profit from volatility in the market. If the markets are flat, you are not going to make any money; only high frequency traders make money under these circumstances. Therefore, you need to find stocks that will make quick moves to the upside or to the downside in a relatively predictable manner.

premium unrelated to its usefulness, like the fund managers earning a fat fee for doing nothing, or the many talented MIT engineers and scientists hired to write software that allows stock trading at millisecond frequencies, then talented people are lost to firms that might do something more socially useful. Faster trading may be profitable because it allows the trader to react more quickly to new information, but given that the reaction time is already seconds or less, it seems implausible that it improves the allocation of resources in the economy in any meaningful way.

26. Stress your guarantee. “Develop Software Applications Up to 6 Times Faster or Your Money Back.” 27. State the price. “Link 8 PCs to Your Mainframe—Only $2,395.” 28. Set up a seeming contradiction. “Profit from ‘Insider Trading’—100% Legal!” 29. Offer an exclusive the reader can’t get elsewhere. “Earn 500+% Gains with Little-Known ‘Trader’s Secret Weapon.’” 30. Address the reader’s concern. “Why Most Small Businesses Fail—and What You Can Do About It.” 31. “As Crazy as It Sounds…” “Crazy as It Sounds, Shares of This Tiny R&D Company, Selling for $2 Today, Could Be Worth as Much as $100 in the Not-Too-Distant Future.

Short sellers profit when the price of the stock they borrowed and sold drops. Short selling is important because stock prices usually drop much more quickly than they go up. Fear is a more powerful feeling than greed. Therefore, short sellers, if they trade right, can make astonishing profits while other traders panic and start to sell off.

The most important question for us humans is, "What is human?" "What is life?" "What is life?" If you can't answer this question, you can't live your life seriously. So Tolstoy, Russia's main gate, for a long time of 15 years I wrote my last book at the end of my career. What is life?It's 입니다. In this book, Tolstoy defines life like this. "Life is holding onto a thin arrowroot vine in a desperate situation where it doesn't know when it's going to break off." What do you think life is? Someone said that life is about luck. What is "WOON 7G3"? It means that luck is 70% and opportunity is 30%. Life is luck. Do you really think life is luck? Then you're lucky to live well, Is it bad luck not to be able to buy it? Being healthy is good luck, Is it bad luck to be sick? That's not true. Life is not luck. Victor Wigor thinks about what life is and then expresses it in one word. It's a voyage. Life is a voyage in which a boat floating on the sea plumped and sailed through a port. Ships floating in the sea of the world have calmness, rough waves, and scary typhoons. Life is not easy. So Job says life like this. "Isn't there hard labor in life on this land?" (Job 7:1) There is a theory of life in today's text. Section 13 of the body. "Those who say they will profit by doing business" (approximately 4:13) What is business and profit? Business is selling things to make money. What are the benefits? It's money from the business. Jews thought it was important to make money. So Jewish tactics are world-famous. The Jews were the geniuses of the tactics. In the old days, money was all coins. Our country also made money into a not. This is called Yupjeon. Heavy coins were very uncomfortable for traders. So the Jews made bills instead of coins, they made checks, they made bills. And the Jews thought about how to sell things without discounting them I made a department store in America. The Jews also taught their children this way. "The whole world is a business. Even white clouds become rain when squeezed." These people are Jewish. Trade was the best way to make money in the days of the First Church. Especially in the early church era, it was the best environment to make money from trade. In this era, it was Pax Romana.

2. Don’t trade penny stocks. A penny stock is any stock that trades under $5. Unless you are an advanced trader, you should avoid all penny stocks. I would extend this by encouraging you to also avoid all stocks priced under $10. Even if you have a small trading account ($5,000) or less, you are better off buying fewer shares of a higher-priced stock than a lot of shares of a penny stock. That is because low-priced stocks are most often associated with lower quality companies. As a result, they are not usually allowed to trade on the NYSE or the Nasdaq. Instead, they trade on the OTCBB ("over the counter bulletin board") or Pink Sheets, both of which have much less stringent financial reporting requirements than the major exchanges do. Many of these companies have never made a profit. They may be frauds or shell companies that are designed solely to enrich management and other insiders. They may also include former “blue chips” that have fallen on hard times like Eastman Kodak or Lehman Brothers. In addition, penny stocks are inherently more volatile than higher-priced stocks. Think of it this way: if a $100 stock moves $1, that is a 1% move. If a $5 stock moves $1, that is a 20% move. Many new traders underestimate the kind of emotional and financial damage that this kind of volatility can cause. In my experience, penny stocks do not trend nearly as well as higher-priced stocks. They tend to be more mean-reverting (Mean reversion occurs when a stock moves up sharply from its average trading price, only to fall right back down again to its average trading price). Many of them are eventually headed to zero, but they are still not good short candidates. Most brokers will not let you short them. And even if you do find a broker who will let you short a penny stock, how would you like to wake up to see your penny stock trading at $10 when you just shorted it at $2 a few days before? I learned that lesson the hard way. It turned out that I was risking $8 to make $2, which is not a good way to make money over the long term. To add injury to insult, a penny stock might appear to be liquid one day, and the next day, the liquidity dries up and you are confronted by a $2 bid/ask spread. Or the bid might completely disappear. Imagine owning

They are limited in their power to stop profitable traders from taking risks,

I do not care to be admired causelessly, emotionally, intuitively, instinctively—or blindly. I do not care for blindness in any form, I have too much to show—or for deafness, I have too much to say. I do not care to be admired by anyone’s heart—only by someone’s head. And when I find a customer with that invaluable capacity, then my performance is a mutual trade to mutual profit. An artist is a trader, Miss Taggart, the hardest and most exacting of all traders. Now do you understand me?

Trading is a challenging domain. It requires a perfect balance of science and art to become a successful trader. It is, indeed, true that only about 5% of the traders end up being profitable and successful; however, what segregates successful traders from the unsuccessful ones is the attitude and passion for learning.

In practice, it is done by threshold, for ease of execution, not complicated rules: you start betting aggressively whenever you have a profit, never when you have a deficit, as if a switch was turned on or off. This method is practiced by probably every single trader who has survived.

Though many details of these schemes are either complex or not yet public knowledge, one of the mechanisms is. Some exchanges, such as NASDAQ, let HF traders peek at customer orders ahead of everyone else for thirty milliseconds before the order goes to the exchange. Seeing an order to buy, for instance, the HF traders can buy first, pushing the stock price up, then resell to the customer at a profit. Seeing someone’s order to sell, the HF trader sells first, causing the stock to fall, and then buys it back at the lower price. How is this different from the crime of front-running, described in Wikipedia as “the illegal practice of a stock broker executing orders on a security for its own account while taking advantage of advance knowledge of pending orders from its customers”?

Switzerland also dragged its feet in prosecuting bribery of foreign government officials. Its first foreign corruption case against a company in Switzerland came only in 2011.15 And the penalties, beyond public shame, remained very low. For companies whose employees bribe a foreign official, the maximum penalty is five million Swiss francs, plus forfeiture of profit. The IMF has described the fines as ‘not effective, proportionate or dissuasive’.16

Somehow,’ she said coldly, ‘you have confused profitable and not profitable with right and wrong.

Stop-loss and Profit Target for intraday trades I suggest you adapt your SL and PT pip values to the volatility of the instrument you are trading. An easy way to determine this is to use ATR (Average True Range) indicator and set it for a long period, for example, 200. Then load around 300-500 days (daily timeframe) in your charts and see what the average ATR value for this period was (= what the average daily volatility in this period was). Then you need to multiply the ATR number by 10.000 to get the value in pips.

Arbitrage is a "risk-free" profit, but for most of us, it might as well be a mirage. Markets are quick to eliminate such opportunities.

But I hope you’ll consider the following, my favorite quote from my favorite book on management, The Winning Performance by Clifford and Cavanaugh: The fourth [general theme in winning corporations] is a view of profit and wealth-creation as inevitable by-products of doing other things well. Money is a useful yardstick for measuring quantitative performance and profit and an obligation to investors. But . . . making money as an end in itself ranks low. In 1994 Stanford Business School published a study of winning companies (companies that have endured for a hundred years) called “Built to Last,” which came to pretty much the same conclusion.

For a while I wondered how that association, which lasted almost forty years until his death in 1993, was forged, until I realized it was simple: we were both left-handed. I think that handedness is the most important thing one can know about a person. The question was never on the employment application forms, and it’s probably verboten to ask these days. But dyslexia lurks in the brain of every left-hander, which means, we see the world differently, sometimes profitably. That’s why, when I interview people, I try to get them to write something. At one point I was accused of running a cabal of left-handers at Trader Joe’s. One of them, Doug Rauch, is President of Trader Joe’s on the East Coast as of this writing

The audience for Channel 28, the PBS station in Los Angeles, was demographically perfect for Trader Joe’s. In those days, however, PBS did not accept overt commercials. Alice had been quite active as a volunteer at the station. Through her contacts, we made arrangements to sponsor reruns of shows that tied to Trader Joe’s, such as the Julia Child shows, The Galloping Gourmet, and Barbara Wodehouse’s series on training dogs, which proved very effective! These reruns were not expensive compared with sponsoring first-runs and they had very good audiences. All we got was a “billboard” announcing that Trader Joe’s was sponsoring the show, but this was a cost-effective way of building our presence in the community. Another way we promoted ourselves on public TV was to “man the phones” during pledge drives. Our employees, led by Robin Guentert who was running advertising at that time (Robin became one of the most important members of store supervision after 1982, then President of Trader Joe’s in 2002), would show up en masse at the station. They loved being on TV, and we got the publicity. Promoting through Nonprofits Most retailers, when they’re approached by charities for donations, do their best to stiff-arm the would-be donees, or ask that a grueling series of requirements need to be met. In general they hate giving except to big, organized charities like United Way, because that way they escape being solicited by all sorts of uncomfortable pressure groups. At the very beginning of Trader Joe’s, however, we adopted a policy of using non-profit giving as an advertising and promotional tool. We established these policies: Never give cash to anyone. Never buy space in a program. That is money thrown away. Give freely, give generously, but only to nonprofits that are focused on the overeducated and underpaid. Any museum opening, any art gallery opening, any hospital auxiliary benefit, any college alumni gathering, the American Association of University Women, the Assistance League, any chamber orchestra benefit—their requests got a very warm welcome. But nothing for Little League, Pop Warner, et al.; that was not what Trader Joe’s was about.

Carry individual items as opposed to whole lines. We wouldn’t try to carry a whole line of spices, or bag candy, or vitamins. Each SKU (a single size of a single flavor of a single item) had to justify itself, as opposed to riding piggyback into the stores just so we had a “complete” line. Depth of assortment now was of no interest. As soon as Fair Trade ended in 1978, we began to get rid of the hundred brands of Scotch, seventy brands of bourbon, and fifty brands of gin. And slowly (it was like pulling teeth) we dismantled the broad assortment of California boutique wines. No fixtures. By 1982, the store would have most of its merchandise displayed in stacks with very little shelving. This implied a lower SKU count: a high-SKU store needs lots of shelves. The average supermarket carries about 27,000 SKUs in 30,000 square feet of sales area, or roughly one SKU per square foot. Trader Joe’s, by 1988, carried one SKU per five square feet! Price-Costco, one of my heroes, carried about one SKU per twenty square feet. As much as possible I wanted products to be displayed in the same cartons in which they were shipped by the manufacturers. This was already a key element in our wine merchandising. Each SKU would stand on its own two feet as a profit center. We would earn a gross profit on each SKU that was justified by the cost of handling that item. There would be no “loss leaders.” Above all we would not carry any item unless we could be outstanding in terms of price (and make a profit at that price per #7) or uniqueness. By the end of 1977, we increased the size of the buying staff, adding one very key person, Doug Rauch, whom we hired out of the wholesale health food trade. Leroy, Frank Kono, Bob Berning, and Doug rolled out Five Year Plan ’77, which for purposes of this history I call Mac the Knife. Back in those days we had no idea how sharp that knife would become! We just wanted to survive deregulation. Everything now depended on buying. So here we go into the next chapter, Intensive Buying.

Instead of listening to Hoffman and his lapdog analysts, traders should have heeded the honest warning in Commerce One’s annual report for 1999: “We have never been profitable. We expect to incur net losses for the foreseeable future and we may never be profitable.

Richard Wyckoff and Stan Weinstein.

Eleven years at school, two years at college, three years at university, and all I needed to do was learn how to draw a horizontal line — Tom Dante.

It is surprising how many experienced traders there are who look incredulous when I tell them that when I buy stocks for a rise I like to pay top prices and when I sell I must sell low or not at all. It would not be so difficult to make money if a trader always stuck to his speculative guns that is, waited for the line of least resistance to define itself and began buying only when the tape said up or selling only when it said down. He should accumulate his line on the way up. Let him buy one-fifth of his full line. If that does not show him a profit he must not increase his holdings because he has obviously begun wrong; he is wrong temporarily and there is no profit in being wrong at any time. The same tape that said UP did not necessarily lie merely because it is now saying NOT YET. In

You need to focus on a sound strategy, system, and trading plan and not profits. Good trading will create your profits, but focusing on your profits will usually lead to bad trading.

The boundary is powerful because you just don't cross it; if you have justified crossing it once, there's nothing to stop you from doing so again and again. Similarly, in trading, giving a trade more room “just this once” is an act of desperation arising from wishful thinking. Professional traders will accept a small loss and stay alert for another trade. They often take several quick stabs at a trade before it starts running in their favor and toward a large profit.

Now, there are times when it’s impossible to classify the market structure, and if that’s the case, move on to something else; don’t force your analysis on the charts.

Despite arguments against speculation and its place in the commodity markets that shape our economy—and, therefore, our lives—without it, producers and users of commodities would have a difficult time facilitating transactions. Thanks to speculators, there is always a buyer for every seller and a seller for every buyer. Without them and the liquidity they provide, hedgers would likely be forced to endure much larger bid/ask spreads and, in theory, price volatility. Consumers would also suffer in the absence of speculators simply because producers would be forced to pass on their increased costs to allow for favorable profit margins.

I have a proper regard for the prosperity of my country: every native of it appropriates to himself some share of the power, or the fame, which, as a nation, it acquires, but I cannot throw off the man so much as to rejoice at our conquests in India. You tell me of immense territories subject to the English: I cannot think of their possessions without being led to inquire by what right they possess them. They came there as traders, bartering the commodities they brought for others which their purchasers could spare; and however great their profits were, they were then equitable. But what title have the subjects of another kingdom to establish an empire in India? to give laws to a country where the inhabitants received them on the terms of friendly commerce? You say they are happier under our regulations than the tyranny of their own petty princes. I must doubt it, from the conduct of those by whom these regulations have been made. They have drained the treasuries of Nabobs, who must fill them by oppressing the industry of their subjects. Nor is this to be wondered at, when we consider the motive upon which those gentlemen do not deny their going to India. The fame of conquest, barbarous as that motive is, is but a secondary consideration: there are certain stations in wealth to which the warriors of the East aspire. It is there, indeed, where the wishes of their friends assign them eminence, where the question of their country is pointed at their return. When shall I see a commander return from India in the pride of honourable poverty? You describe the victories they have gained; they are sullied by the cause in which they fought: you enumerate the spoils of those victories; they are covered with the blood of the vanquished.

Davad…” She shook her head slowly. “You have turned against us, Davad Restart. Open your eyes. Think what you are doing. Right and wrong is not profit and loss. Some things are too evil to make money from them. Right now, you may be gaining handsomely from the conflict between the Old and New Traders. But this conflict will not go on forever, and when it does end, there you will be. One side will see you as a runagate, the other as a traitor. Who will be your friends then?

Fur traders reaped in profits from trading with the Native Americans of the northwest coast of America. Expeditions from India, England, China, and various parts of the Americas set out to engage in this trade, with the main rendezvous point being Vancouver Island. The island was located just above what is now the northern border between the United States of America and Canada. The small body of water that lay on the western edge of Vancouver Island was called Nootka Sound, with “sound” meaning a part of the sea that turns into an inlet of sorts.

its trend. And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine—that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.

Très peu de Traders déjà pensé à l'importance de ces deux questions. Ils sont indispensables pour la réussite commerciale. Comme je l'ai présenté au début je vous ai montré un trading pour compte propre dont les résultats sont superbes. Cependant, dans les résultats que j'ai intentionnellement montré les longues périodes où rien ne s'est passé. Il n'y avait pas de profits pour quelques mois ... non mais en fait ans. Si je l'avais quitté, ce qui est facile à faire, je n'aurais pas tombé sur quelques-uns des grands gagnants. En réalité, lorsque vous négociez vous allez passer de longues périodes où rien ne se passe. Vous devez avoir la patience d'endurer ce sinon vous ne réussirez pas. Ce n'est pas facile. Trade réussie est d'être cohérent et suivre votre plan de Trade à plusieurs reprises. J'ai appris au fil des années que mes bénéfices proviennent d'un ensemble de Trades. Il est devenu évident pour moi que je n'ai pas besoin de connaître l'avenir. J'ai simplement suivi mon plan de trading et me mettre dans la position d'être disponible pour les Trades potentiels. Il n'y avait rien d'avoir raison ou tort. J'ai pris l'aspect financier de la question. Il était