A Quote by Ari Kiev
To be a super-trader, you'll need an edge to overcome the laws of probability and the uncertainty of the marketplace. That edge comes from information flow, the ability to correct your habits in terms of the market's characteristics, and being able to take risks, cut losses, expand your information network, ferret out ideas, and take recommendations.
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If we want TRULY EXTRAORDINARY VISION then you have to continually expand your horizons, take risks. If we don’t push our edge we’ll never expand our view.. It’s not trespassing to go beyond your own boundaries.
There are three sides to every coin (Heads, Tails, and The Edge). Your ability to understand contrasting points of view and your ability to glean what information you believe to be valuable from each side is a crucial skill.
Take your job seriously, BUT don't take their complaints personally. If you take it personally you'll get upset and lose your edge. If you take it too personally, you'll lose your edge and your job. If you take it seriously -- it's you with them. If you take it personally, it's you against them. What steps can you take to ensure keeping your cool?
Don't take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don't be an impatient trader.
The thing about information is that information is more valuable when people know it. There's an exception for business information and super timely information, but in all other cases, ideas that spread win.
In an information economy, entrepreneurs master the science of information in order to overcome the laws of the purely physical sciences. They can succeed because of the surprising power of the laws of information, which are conducive to human creativity. The central concept of information theory is a measure of freedom of choice. The principle of matter, on the other hand, is not liberty but limitation- it has weight and occupies space.
That ability to take in your surroundings and sort out the important stuff, to be aware, to be vigilant. Then take all that information, put it together, and see if it makes sense to you.
When your awareness is contracted, the flow of energy and information throughout your bodymind is hampered. You tend to stay stuck in toxic emotions such as regret, resentment, and self-pity. Non-nurturing habits such as overeating and not exercising take hold. The feedback loop between your mind and your body turns negative, and stress can hit you instantaneously or grind away at you day after day.
Intelligence is the ability to take in information from the world and to find patterns in that information that allow you to organize your perceptions and understand the external world.
A cardinal principle that we must not stray from - no exceptions - is that your genetic information is your business in terms of who sees it. Nobody should be gaining access to that information without your explicit permission, and nobody should be requiring you to take a genetic test unless you decide that that's what you want to do.
Information flow is what the Internet is about. Information sharing is power. If you don't share your ideas, smart people can't do anything about them, and you'll remain anonymous and powerless.
Communism in Cuba will collapse sooner or later because you can't control the free flow of information. Communism prevents organizations from developing by stopping the flow of information. The system is based on police and listening devices and triggers the worst characteristics in humans.
Both poker and investing are games of incomplete information. You have a certain set of facts and you are looking for situations where you have an edge, whether the edge is psychological or statistical.
The thing I preach constantly is do your research; build your knowledge base. Don't just go into business on a whim or a prayer - and don't think 'I'm an entrepreneur so I have to take risks'. Entrepreneurs don't take risks. They take calculated risks; only the good ones.
My two biggest lessons learned as a trader are take risks and get comfortable with taking losses and setbacks to help move you forward.
If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks.
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