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PostHeaderIcon The Two Primary Indicators For Success in Life

Two of the biggest indicators of success in life is the ability to say no to yourself at crucial times and sacrifice your present moment fun and enjoyment for future goals and accomplishments. Self control is the path to getting what you really want out of life while following the natural path of your own emotions and impulses in almost always a well worn path down the wrong road. Most people get the most satisfaction and enjoyment from accomplishments and a job well done, not in their leisure time or on a vacation. One of the greatest enjoyments in life is working in a field you are passionate about and finding meaning for your life through the work of creating value for others through that work. A lot of the unhappiness, boredom, and purposeless that we run into is when we say yes to our self at the wrong time and close doors to alternate futures through the lack of right actions in the present moment.

Here is some proof of the power of self control and discipline:

The Stanford marshmallow experimentwas a series of studies on delayed gratification in the late 1960s and early 1970s led by psychologist Walter Mischel, then a professor at Stanford University. In these studies, a child was offered a choice between one small reward (sometimes a marshmallow, but often a cookie or a pretzel, etc.) provided immediately or two small rewards if he or she waited until the tester returned (after an absence of approximately 15 minutes). In follow-up studies, the researchers found that children who were able to wait longer for the preferred rewards tended to have better life outcomes, as measured by SAT scores, educational attainment,body mass index (BMI) and other life measures.

The purpose of the original study was to understand when the control of deferred gratification, the ability to wait to obtain something that one wants, develops in children. The original experiment took place at the Bing Nursery School located at Stanford University, using children age four to six as subjects. The children were led into a room, empty of distractions, where a treat of their choice (Oreo cookie, marshmallow, or pretzel stick) was placed on a table, by a chair.The children could eat the marshmallow, the researchers said, but if they waited for fifteen minutes without giving in to the temptation, they would be rewarded with a second marshmallow. Mischel observed as some would “cover their eyes with their hands or turn around so that they can’t see the tray, others start kicking the desk, or tug on their pigtails, or stroke the marshmallow as if it were a tiny stuffed animal”, while others would simply eat the marshmallow as soon as the researchers left.

In over 600 children who took part in the experiment, a minority ate the marshmallow immediately. Of those who attempted to delay, one third deferred gratification long enough to get the second marshmallow.Age was a major determinant of deferred gratification. FULL STORY at wikipedia


PostHeaderIcon 10 Bad Habits Successful Traders Have To Stop


Here are ten bad habits that new traders have to stop to become profitable and success traders.

  1. Stop wanting to be right all the time and just settle for being profitable by cutting losses short.

  2. Stop trying to predict the future and just focus on entering robust trading  signals.

  3. Stop taking small profits and open up the possibility of big profits by letting winners run.

  4. Stop trading based on your own fear and greed and trade off the emotions of others.

  5. Stop trying to call tops and bottoms and start trading with the trend in your time frame.

  6. Stop trading so big to lower the emotional impact and stress of each individual trade.

  7. Stop being stubborn to cut losses short and afraid to let winners run.

  8. Work hard when the market is closed to make it simple to execute trades when the market is open.

  9. Stop trading based on your ego and start trading with a plan.

  10. Be patient and wait for th eright pitch and stop swinging at everything thrown over the plate.

PostHeaderIcon Fast Facts About the Index Charts and My Dip Buy Points. $SPY $QQQ $IWM

  1.  The long term uptrend in the stock market is still in place.

  2. This is not the stright up parabolic move of 2013 where the 5 day ema and 10 day sma worked as a trend filter. This year indexes are trading in a wider range with the 21 day ema and 50 day sma are the key lines to watch for pull backs and swing long entries.

  3. This is a fast market and requires buying dips fast, there are no follow through days either way, quick retracements then bounce backs are fast. Rarely are we even down two days in a row.

  4. Short side traders have been getting hurt when they short into weakness right before a snap back or try to short strength and the market goes yet higher. Swing trades from the long side have the best odds for success.

  5. $QQQ is the strongest index and $IWM is the weakest.

  6. $IWM has met resistance at both the 21 day ema and the 50 day sma last week.

  7. Buying $IWM at the 30 RSI would be a very high probability long if we get there.

  8. Buying $SPY at the 50 day sma is a very high probability long set up if we get there.

  9. $QQQ at the 21 day is a high probability set up if it dips again.

  10. With all the headline risk with Ukraine and Israel and volatility expansion we may get some of these levels, we’ll see.




PostHeaderIcon 5 Great Trading Articles For Weekend Reading










If You’re Not Feeling Stupid, You’re Not Managing Risk

An Interview With Trend Following Technical Analyst Jon Boorman

Bet on Green: double digit gains are the norm for the Dow Jones, not the exception

The Slight Edge by Jeff Olson

10 Failures Who Became Huge Successes

PostHeaderIcon Top Trading Tweets Of The Week