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Will You Add? - Playing a Game You Can Win
One of the biggest mistakes poor salespeople make is THEY TALK TOO MUCH. The second is: THEY GIVE INFORMATION BEFORE THEY GET IT.When you make these mistakes, you will tend to turn off most potential customers or clients. I remember my first sales position back in the early 60s. I worked for one of the top 5 insurance companies in the world. They fired me after 6 months. When you don’t sell anything for 6 months…….well, I am surprised it took them so long. There were a number of reasons why I failed, and I don’t intend to bore you with all of them – just one, to illustrate the point of this week’s tip. (By the way, the industry at
Lastly, reducing the costs of trading is probably the simplest change you can make, and can mean the difference between winning and losing overall – especially for systems that have lower expectancy. There are many online brokers now that charge 1c per share for equity trades (and comparably low fees for other instrument types) and there is no reason why you should be paying more than this if you are trading electronically.
Every trader should do whatever they can to maximize the expectancy of their trading system or method by considering each of the 3 aspects just described. If we do some, or all, of these things then the amount we win now becomes a factor of how much we stake, and how often we play because we have created a true ‘edge’ where we know that the system we are
If you’re new to the world of Internet Marketing (IM), chances are you’ve joined in order to make you’re life financially better. Most likely you’ve been attracted through an information product offered on the internet and will be very excited at the possibility of making sums of money that will be yours and not paid to your employer. This can be hindered by a problem which makes no sense but happens to so many IM’s – The failure to take action.Taking action is the single biggest step you could take that will increase your chance of success in this business. It’s not money, privilege or intellect that separates the average worker
In fact, there is a way to win this game, and that is to understand that the longer you play, the more you will lose, so the optimum strategy is to bet everything you have on just one toss of the coin; just like Ashley Revell did when he sold everything he owned, took the $135,300 to Las Vegas, and bet it all on ‘Red’ on one spin of the roulette wheel. Mr. Revell was fortunate and he won, but I am not recommending that you bet everything you have on one trade!
Obviously risking everything on one trade is not a useful strategy since we want a game we can play for long periods of time to generate a consistent income. So how can we change the game so that we can win? There are three aspects to the game which can be adjusted to increase our chances of winning consistently:
• We can tip the chance of a winner in our favor from 50/50
• We can increase the size of the payout from 1:1
• We can reduce the cost of playing the game
Tipping the chances of a winner is not possible in a fair coin toss game, but it is possible in trading. There are two ways to approach this: identify conditions that are more favorable to your winners and include them in your system definition, or identify circumstances where a loser is more likely, and skip those trades. For example, if you notice that most of your winners are entered on days where the overall market has moved in the same direction as your trade, then only enter trades when the overall market is moving in the correct direction. This means that your trade is in the same direction of the overall market, rather than against it.
Another example might be that trades that are entered just before major news announcements, like earnings calls, often get stopped out as losers due to increased volatility, so you should skip those trades.
There may be many patterns of winners and losers that you can identify for your own systems and careful study of past trades is definitely worthwhile. Note that we do not want to increase our win percentage too significantly (i.e. to greater than 60%) since this would indicate that we have ‘curve-fitted’ our system to historical results that are unlikely to continue into the future.
It is also important to note that for some types of trading (i.e. long-term trend following strategies) it may not be possible to have a win percentage that is greater than 50% (and it may be much lower) and that is where the second aspect of improving your system comes into play: the average size of winners versus losers.
Increasing the size of the payout so that the winners win more on average than the losers lose depends on the way you handle your stops. Having large winners in relation to losers can make up for a low win percentage, and mean that you will still make money playing the game. One method is to have a trailing stop that moves up as a trade becomes a winner. If you have fixed stops for losing trades that limit losses, but trailing stops for winning ones that allow winners to grow, then you are increasing your chances of your average winner being larger than your average loser. Generally it is better to be strict on losers by having tighter stops that keep losses to a minimum and generous with winners by having stops that allow profits to grow. In any case you want to make losers small and winners large, so never add to a losing trade – that would be doing the opposite of what you want to achieve.
Lastly, reducing the costs of trading is probably the simplest change you can make, and can mean the difference between winning and losing overall – especially for systems that have lower expectancy. There are many online brokers now that charge 1c per share for equity trades (and comparably low fees for other instrument types) and there is no reason why you should be paying more than this if you are trading electronically.
Every trader should do whatever they can to maximize the expectancy of their trading system or method by considering each of the 3 aspects just described. If we do some, or all, of these things then the amount we win now becomes a factor of how much we stake, and how often we play because we have created a true ‘edge’ where we know that the system we are t
In spite of the fact that workers monitoring systems do not directly contravene the law, they add to creating a unreceptive work environment, that is offensive both from ethical and legal standpoints. There is Privacy Act that includes primary law related to members of staff privacy rights. This law forbids third parties to receive disclosing or accessing information personal exchange of ideas, to any outer parties without previous consent from the recipient or author. The two major exceptions to the law are that employer has the privilege to monitor workers’ conversation under the circumstances if they take place during the everyday busine
Obviously risking everything on one trade is not a useful strategy since we want a game we can play for long periods of time to generate a consistent income. So how can we change the game so that we can win? There are three aspects to the game which can be adjusted to increase our chances of winning consistently:
• We can tip the chance of a winner in our favor from 50/50
• We can increase the size of the payout from 1:1
• We can reduce the cost of playing the game
Tipping the chances of a winner is not possible in a fair coin toss game, but it is possible in trading. There are two ways to approach this: identify conditions that are more favorable to your winners and include them in your system definition, or identify circumstances where a loser is more likely, and skip those trades. For example, if you notice that most of your winners are entered on days where the overall market has moved in the same direction as your trade, then only enter trades when the overall market is moving in the correct direction. This means that your trade is in the same direction of the overall market, rather than against it.
Another example might be that trades that are entered just before major news announcements, like earnings calls, often get stopped out as losers due to increased volatility, so you should skip those trades.
There may be many patterns of winners and losers that you can identify for your own systems and careful study of past trades is definitely worthwhile. Note that we do not want to increase our win percentage too significantly (i.e. to greater than 60%) since this would indicate that we have ‘curve-fitted’ our system to historical results that are unlikely to continue into the future.
It is also important to note that for some types of trading (i.e. long-term trend following strategies) it may not be possible to have a win percentage that is greater than 50% (and it may be much lower) and that is where the second aspect of improving your system comes into play: the average size of winners versus losers.
Increasing the size of the payout so that the winners win more on average than the losers lose depends on the way you handle your stops. Having large winners in relation to losers can make up for a low win percentage, and mean that you will still make money playing the game. One method is to have a trailing stop that moves up as a trade becomes a winner. If you have fixed stops for losing trades that limit losses, but trailing stops for winning ones that allow winners to grow, then you are increasing your chances of your average winner being larger than your average loser. Generally it is better to be strict on losers by having tighter stops that keep losses to a minimum and generous with winners by having stops that allow profits to grow. In any case you want to make losers small and winners large, so never add to a losing trade – that would be doing the opposite of what you want to achieve.
Lastly, reducing the costs of trading is probably the simplest change you can make, and can mean the difference between winning and losing overall – especially for systems that have lower expectancy. There are many online brokers now that charge 1c per share for equity trades (and comparably low fees for other instrument types) and there is no reason why you should be paying more than this if you are trading electronically.
Every trader should do whatever they can to maximize the expectancy of their trading system or method by considering each of the 3 aspects just described. If we do some, or all, of these things then the amount we win now becomes a factor of how much we stake, and how often we play because we have created a true ‘edge’ where we know that the system we are
Today, December 8th is a big day. It's the launch of a new tool that will make a lot of smart people a lot of money.Nothing. Really NOTHING has been this easy earlier in online marketing. Target a niche by just selecting a keyword. Target 100 niches by the end of this weekend by selecting 100 keywords. NO cloaking involved, so you will not be banned (on the contrary, Search engines will love your site and index loads of pages with real content).EVERYTHING is done for you. You select the keyword; this incredible tool creates a whole video site in 11 seconds for you. Every video (targeted to your niche) carries an ad at the end,
Another example might be that trades that are entered just before major news announcements, like earnings calls, often get stopped out as losers due to increased volatility, so you should skip those trades.
There may be many patterns of winners and losers that you can identify for your own systems and careful study of past trades is definitely worthwhile. Note that we do not want to increase our win percentage too significantly (i.e. to greater than 60%) since this would indicate that we have ‘curve-fitted’ our system to historical results that are unlikely to continue into the future.
It is also important to note that for some types of trading (i.e. long-term trend following strategies) it may not be possible to have a win percentage that is greater than 50% (and it may be much lower) and that is where the second aspect of improving your system comes into play: the average size of winners versus losers.
Increasing the size of the payout so that the winners win more on average than the losers lose depends on the way you handle your stops. Having large winners in relation to losers can make up for a low win percentage, and mean that you will still make money playing the game. One method is to have a trailing stop that moves up as a trade becomes a winner. If you have fixed stops for losing trades that limit losses, but trailing stops for winning ones that allow winners to grow, then you are increasing your chances of your average winner being larger than your average loser. Generally it is better to be strict on losers by having tighter stops that keep losses to a minimum and generous with winners by having stops that allow profits to grow. In any case you want to make losers small and winners large, so never add to a losing trade – that would be doing the opposite of what you want to achieve.
Lastly, reducing the costs of trading is probably the simplest change you can make, and can mean the difference between winning and losing overall – especially for systems that have lower expectancy. There are many online brokers now that charge 1c per share for equity trades (and comparably low fees for other instrument types) and there is no reason why you should be paying more than this if you are trading electronically.
Every trader should do whatever they can to maximize the expectancy of their trading system or method by considering each of the 3 aspects just described. If we do some, or all, of these things then the amount we win now becomes a factor of how much we stake, and how often we play because we have created a true ‘edge’ where we know that the system we are
Heads up to business owners. The recent Federal Reserve short-term interest rate hike was the 15th consecutive increase since June 2004 and the first since Ben Bernanke took over as chairman of the central bank in February.The Fed indicated that even more rate hikes may be necessary in the next few months. "Some further policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance," the Fed said in its statement.Translation: more rate hikes ahead, let’s hope it doesn’t hurt the economy and your business.The target for the federal funds rate is
Increasing the size of the payout so that the winners win more on average than the losers lose depends on the way you handle your stops. Having large winners in relation to losers can make up for a low win percentage, and mean that you will still make money playing the game. One method is to have a trailing stop that moves up as a trade becomes a winner. If you have fixed stops for losing trades that limit losses, but trailing stops for winning ones that allow winners to grow, then you are increasing your chances of your average winner being larger than your average loser. Generally it is better to be strict on losers by having tighter stops that keep losses to a minimum and generous with winners by having stops that allow profits to grow. In any case you want to make losers small and winners large, so never add to a losing trade – that would be doing the opposite of what you want to achieve.
Lastly, reducing the costs of trading is probably the simplest change you can make, and can mean the difference between winning and losing overall – especially for systems that have lower expectancy. There are many online brokers now that charge 1c per share for equity trades (and comparably low fees for other instrument types) and there is no reason why you should be paying more than this if you are trading electronically.
Every trader should do whatever they can to maximize the expectancy of their trading system or method by considering each of the 3 aspects just described. If we do some, or all, of these things then the amount we win now becomes a factor of how much we stake, and how often we play because we have created a true ‘edge’ where we know that the system we are
Do you know what the most valuable asset in your business will be in the next five years? Your email sign up list! Yes, I know it may be difficult to believe right now, but imagine if you were a baker who acquired tons of clients throughout the years and, all of a sudden, something called the Atkins anti-carbohydrate craze comes along? Sure you could come up with an alternative carb-free product, but how could you quickly get in contact with all the people you sold to throughout the years to let them know?Aside from any trends that may be happening now and are timely in nature, think of long-term reasons as well as accomplishments wh
Lastly, reducing the costs of trading is probably the simplest change you can make, and can mean the difference between winning and losing overall – especially for systems that have lower expectancy. There are many online brokers now that charge 1c per share for equity trades (and comparably low fees for other instrument types) and there is no reason why you should be paying more than this if you are trading electronically.
Every trader should do whatever they can to maximize the expectancy of their trading system or method by considering each of the 3 aspects just described. If we do some, or all, of these things then the amount we win now becomes a factor of how much we stake, and how often we play because we have created a true ‘edge’ where we know that the system we are trading should make money (if traded accurately). Calculating the expectancy of your trading system or method tells you whether you are playing a game you can win, and is a very important piece of information that every trader should know before they risk real money.
If the game is rigged against you because your trading methods lose money regardless of how accurately you implement them, how can you ever be a successful trader?
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