EUR eases ..
Greek yields continue to soar, now at 918 bp over bunds in the 10-year maturity, but EU economics commissioner Rehn still sees Greece getting the green light for a second round of EU funding…
EUR/USD has dipped back below 1.2700 after nearing 1.2725 resistance.
LEARNING THROUGH FAILURE
Very often we learn more from our failures than from our successes. The path to success travels inevitably through certain failures.
A look at successful traders and entrepreneurs shows that they have been able to survive failure as many times as they have had to. They use failure as feedback. They learn from it and make changes and go on. Many super traders have experienced crushing loss in their early trading years. All of them picked themselves up, made adjustments, and with the sure belief that they could make it back through better trading, did just that.
Successful traders are able to ride through periods of drawdown easily because they believe the drawdown to be only temporary. They distinguish the difference between simple losses and loss that comes from mistakes. Their confidence in their methods and their ability and their vision of what the markets can provide reassures them about their future success. Any period of loss is viewed as transitory.
Fear of failure keeps many traders from the success they so dearly want. They are afraid to fail and therefore either afraid to trade or to admit the failure and learn from it. I’m not saying you should like loss. Winning traders don’t want to punish themselves, but successful traders don’t dread loss either because they know that whatever happens, they can make it back. And they can learn.
Strangely enough, failure is often a necessary stepping stone to success. Those who are too fearful of failure may never get to the success they long for. Fear can lead us not only away from the thing we fear but also away from the thing we seek. Ironically, fear can also lead us directly into the thing we fear. My thesis is that underneath fear of failure is a sense of scarcity.
Confronted with a drawdown, a trader who fears failure will often stop trading or change methods or systems only to junk the new methods or systems at the next drawdown.
The winning trader will not inflexibly keep doing what doesn’t work. His open mindedness allows him to recognize the difference between market conditions and methodologies that do or don’t have a probability of success. A trader with a sense of abundance and a verified method for trading won’t crumble under temporary loss because he’ll know he’s simply passing through a difficult time that will end. He distinguishes between loss and inept or error prone trading.
The flexible trader with the willingness to admit mistakes will learn from the failure, honor that failure as feedback; make corrections, and proceed with the improvements. The winning trader, just as the winning athlete, is in a constant and never ending process of development and growth.
Look at the history of your trading and write down several major failures. As you study each failure, look for similarities and differences between them. Look for the lessons. Identify and define the problems. Look for valid solutions.
As you trade each day, do the same thing with individual mistakes. Write them down as they occur along with the lesson learned. Look for repetitions. Commit to your own development and growth as you learn through experience. Remember, if you can’t make a mistake, you can’t make anything, including money.
Confronted with a drawdown, a trader who fears failure will often stop trading or change methods or systems only to junk the new methods or systems at the next drawdown.
The winning trader will not inflexibly keep doing what doesn’t work. His open mindedness allows him to recognize the difference between market conditions and methodologies that do or don’t have a probability of success. A trader with a sense of abundance and a verified method for trading won’t crumble under temporary loss because he’ll know he’s simply passing through a difficult time that will end. He distinguishes between loss and inept or error prone trading.
The flexible trader with the willingness to admit mistakes will learn from the failure, honor that failure as feedback; make corrections, and proceed with the improvements. The winning trader, just as the winning athlete, is in a constant and never ending process of development and growth.
Look at the history of your trading and write down several major failures. As you study each failure, look for similarities and differences between them. Look for the lessons. Identify and define the problems. Look for valid solutions.
As you trade each day, do the same thing with individual mistakes. Write them down as they occur along with the lesson learned. Look for repetitions. Commit to your own development and growth as you learn through experience. Remember, if you can’t make a mistake, you can’t make anything, including money.
FROM AN EXPERIENCE
Thinking in Themes – Traders look at different themes across different time frames, but the good ones synthesize market information and arrive at a view of how their markets are likely to trade. Instead of impulsively buying or selling when a market makes a new high or low or when a chart assumes a particular configuration, they see a broader chessboard: how other markets are trading, how the smaller timeframe fits into larger ones, etc. This ability to synthesize data and arrive at themes is a large part of what helps traders make sense of markets and develop the confidence to take meaningful risk in search of superior rewards.
DAY TRADING STRATEGY
OF NIFTY FUTURES – AUG 25
Overall Support @ 5480 & 5450 in EOD card today
Support in intraday chart @ 5519
So no problem for Bulls if trades above 5524
A hike upto 5565-75 is possible above 5545
Below 5517 if trades for 15 minutes see
slide upto 5498-5480
NO CHARM IN MARKET
WILL BE SEEN UNTIL
IT BREAKS 5475 or 5575
Use the levels for your trading, but do not trade blindly..
BANK NIFTY
Trend line Support (in day chart)
Today @ 11010
and @ 10976 in intraday card
Buy btwn 11058-75
T1- 11101-115
T2- 11128-145
Sell btwn 11003-10986 (@ 11009)
T1- 10976-60-45
T2- 10933-16
Nifty, Bank Nifty levels and intraday news updated here gives an astonishing success rate more than 97% is more than enough for the readers to attain a decent profit daily.
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enjoy with our guidance
SHARE TIPS TODAY (AUG 25)
INTRADAY
Sell CENTRALBANK @ 173.75
T1 – 171.75
T2 – 169.75
Sell SIYSIL @ 328
T1 – 325
T2 – 323
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-Mahindeesh (a) Sathish
Cuddalore-2
Tamil Nadu
TODAY’S QUOTE
Belief consists in accepting the affirmations of the soul; unbelief, in denying them. Some minds are incapable of skepticism.
-RALPH WALDO EMERSON, "Montaigne; or, the Skeptic," Representative Men
RELAX CORNER
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*A sardar goes to a restaurant
and his cell phone rings.
Wife: How are you?
*Surprised Sardarji:Oji I am fine but
how did you know where I was?
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