Are F1 Racers Aggressive Traders?

Are F1 racers aggressive traders?
Mini-Article by Winston Ng

It was amusing that these few weeks, everyone is asking me if I am an aggressive trader. Apparently, I was told that I am not aggressive enough as a trader.

Of course, every single time, someone asks that... I would then ask them.. "Are you asking for fun?.. or you actually want to know?"

70% of the time.. they would just laugh it off and change subject...

which is pretty nice.. saves my breath.

but now, i've found a better way for the 30% who say yes they want to know!!!

I'll answer it here!

so... Am I an Aggressive Trader?

NO.

... Because I don't know what's an aggressive trader...

Some possible explanations?:
[Poss. Defn.] Aggressive Trader
(i) Turns Aggressive when losing
(ii) Consistent loss write-off via vehicle called "Aggressive"
(iii) Turns Aggressive when winning

can't think of anything else... anyone knows.. feel free to chip in.. :D

But i do know... what's a Profitable Trader!

Someone who is consistently profitable in the short and long run!

I also know that in Intra-day and in Core trading, it requires different skill and different psychology. They are slightly related, but totally different.

Would you say that the ah beng driver on the road is actually an F1 driver in disguise?

... Likewise, there was an F1 driver who was jailed for speeding last year?? (haha.. what's his name.. i can't remember)

Whichever trading environment you choose, you have to fit yourself to it. No one is aggressive or not, merely profitable or not.

Likewise, if you want long-term profits... It is your trading plan and money management that will make the difference.

You can have the most secret strategy in the world, but no trading plan.. and you'll still be a lousy trader 1 year down the road.

Enjoy your F1 and appreciate the amount of skill and devotion they put into practising their art.


Trading is an art too. Practice and get good at it.

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Hey,

2 Things today!

First, its still a rare season with the $700 BILLION TARA (Troubled Asset Relief Act) bailout. We wonder where the U.S. is going to get money they don't have and how much are they going to pay for these "Troubled Assets" because the key issue here is if they pay "current" market rate for troubled assets like defaulting debt, then the market will not be kick-started. If they pay too much, then the people with defaulting debt notes will actually profit. So, the magic sweet spot is in the price they pay for the defaulting debt.

Hence, no Core Trading. Stay out. Stay safe. Enjoy Yourself.

Second, we are starting a Graduates Forum together with a Newbie Forex Education portal.

I find that there is so much nonsense online, getting people to try out Forex at such high leverage levels and burning their pockets.

I wanted a space where our graduates can learn from each other, as well as contribute in the "Newbie" forex space as a gift to the community.

When we teach, we get better at what we do. As you know, i truly believe that we do not live alone as selfish people, but instead a community that helps in growing the world to a better place.

So, the forum is here: http://www.forexdrivingschool.com/ ... Can guess why thats the name?

We are building it up with the internal computer work.

I am also looking for volunteers!!!!!! Add comment / email me/ register than PM me, if you want to support as a moderator or administrator or topic specialist (even if you are not an FFR grad, point me to your other posts in other forums. Has to be responsible in helping forummers grow.)

So, sign up now online as we build.




cheers,


winston

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What's Up with this Financial "Storm"?

Why do I ask you to stay out of this market?

This is a snap shot of the day candles on Monday 21st Sept 2008. I actually cancelled my set-ups as you can see from the 3 pinkish squares.

I sent out a mail to my grads to cancel, and I cancelled an hour after that.

Printscreen belongs to Oanda.com

I always like to take out from Warren Buffet with his famous line. It goes something like this.

"To make money in the stock markets, first learn to manage your emotions."(paraphrased)

So, how do we manage our emotions?

Firstly, get clear.

Secondly, free yourself.... no FLEE... from the mindset of scarcity.

Why do people take bad trades over and over again?

Because they are scared that they will lose out the profit. 

Inherently, it also says that there is an inherent believe, there may not be profit next week or next month.

Is that true?... does the market really stop?

What does it mean to get clear?

See through the fog of confusion, and take high probability trade setp-ups.

How?

1) Avoid volatility.

2) Avoid high leverage.

3) Always respect the markets. Take what it gives you, not what you want.

Why did I cancel my set-ups on 21st Sept 08?

In our Core Trading (wealth building) style of trading, we AVOID volatility to keep to low returns on negative years, and high returns on trending years (compare that to the S&P500 index, which has negative years.)

Hence, even if the set-ups were triggered in, I would be in a state of distress because a typical core position lasts 2 weeks to 4 weeks. In this volatile market, the 2 week - 4 week time frame is full of inherent speculation and uncertainty.

So, stay out.

Yes, I may have made money on this, or may have lost. It doesn't matter. But I know that if I took the trade, it clearly means I have no discipline and focus, to wait for high probability set-ups.

Long Term Consistency is the reflection of skill. Short term profit is called luck.

Cheers,

Winston

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[ADV] - Are You getting inconsistent trading results? 

Get Clarity from the only structured 8 week Forex Education Programme in Singapore.

Call us at 61002264 to find out why 8 Weeks of structure helps you learn at a totally new level of clarity and confidence to trade safely and profitably.

Or visit us at http://www.ForexForRetirement.com to read more. 

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Saxo - 9 Sept 08 Tuesday

>> USD

"During the rallying phase of the EURUSD's history, the big round numbers served as important resting points along the way, yet we wonder if this is the case on the way down, as numbers previously traversed would seem to have less significance. Still, we watch 1.4000 with interest now, as it was a barrier on the way higher, even if many are talking up the 1.3700 area for good reason, as this area was twice very important resistance over the last few years - first towards the end of 2004 and then in the spring of 2007 before it gave way. Ahead of this level we have 80.00 in the USD Index, which more closely coincides with the 1.4000 level in EURUSD and is also a significant technical area stretching back years."


Summary: Highly Speculative Strength on the USD, Time Frame: Next 3 Months at least, Remark: I don't like putting up such a long "clip" as this is supposed to be a distilled version! However, with the undecided-ness in the market. This is about the best I can get. Everyone seems to be very sure that the USD is going UP UP UP. Yet, we are always reminded that when everything is 100% sure, it gets 100% wrong. So, I consider this a volatile season, wait out or be more conservative, unless you are skilled enough to swim these choppy seas.

>> No idea what we are talking about? Or overwhelmed by news? Sign up for our Forex class for consistency and constant results.

Copyright Saxo Bank Commentaries - Do Sign up at their link, via http://www.forexforretirement.com/client/

Summary from ihtLabs


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Our New Up/ Down Arrows for Quick Reading!

I've got some Up/ Down Arrows, so you all can see things in a quick glance!

Remember always, that news should not dictate your trade. It only re-confirms a trade.


cheers!

Take a look at our new arrows!

TravelEx - 1 Sept 08 Monday

>>> Aussie


"Markets are pricing in a 25 basis point cut at the Reserve Bank of Australia's (RBA) board meeting, the first cut in seven years."


Summary: Watered down effect, Time Frame: Next statement, Remark: Remember the rules of news? The effect of the news is directly related to its certainty of expectation.

>> No idea what we are talking about? Or overwhelmed by news? Sign up for our Forex class for consistency and constant results.

Copyright Travelex Currency Commentaries - Do Sign up at their link, via http://www.forexforretirement.com/client/

Summary from ihtLabs


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[ADV] - Are You getting inconsistent trading results? Join the No. 1 Forex Foundation School in Singapore - We have the most value for money, across 8 weeks of tutorials and structured curriculum with homework, guidance and only one goal - to make you a confident, consistent part-time Forex Trader. Call us at 61002264 to speak to our Education Consultants to assess your suitability or visit us at http://www.financeyourpassion.com/fx/ to read more.

We are moving to our new premises at http://www.forexforretirement.com/! Watch the construction as it happens, and remember to bookmark this new link, because everything is going to shift over in a while!
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