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One last postMarch 4, 2014I meant to make this post before the previous one announcing the decision to stop the blog.After a lot of reflection and analysis of February’s poor trades, if I had to point to the root cause of it, I’d say it was the refusal to take my losses on the yen pairs in late Jan / early Feb.The old proverb is very very true: The first loss is the best loss.Because I didn’t get out of those trades, my view of the market got progressively more distorted. One poor decision led to a string of poor decisions. As those trades slipped further into the red, fear crept into my decision-making leading to further poor trades.The lesson, the rule that I …
via Zen and the Art of FX Trading:
I meant to make this post before the previous one announcing the decision to stop the blog.
After a lot of reflection and analysis of February’s poor trades, if I had to point to the root cause of it, I’d say it was the refusal to take my losses on the yen pairs in late Jan / early Feb.
The old proverb is very very true: The first loss is the best loss.
Because I didn’t get out of those trades, my view of the market got progressively more distorted. One poor decision led to a string of poor decisions. As those trades slipped further into the red, fear crept into my decision-making leading to further poor trades.
The lesson, the rule that I will never break again:
Plan the trade and trade the plan.
The first loss is always the best loss.
When the market proves you wrong, accept it gracefully, don’t fight it.
For more info: One last post
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Quotable: Bill Gates debunks 3 myths about the world’s poor Email share Value ChainsQuotable: Bill Gates debunks 3 myths about the world’s poor By Isaac Otto, January 24, 2014 Gates points to community health systems in “poor” countries as a cost-effective way to land a large impact. Photo: Cassandra Nelson for Mercy Corps.Myth 1: Poor countries are doomed to stay poor. “The easiest way to respond to the myth that poor countries are doomed to stay poor is to point to one fact: They haven’t stayed poor.” — Bill Gates.Find out details and read how Gates debunks two more myths in his 2014 annual letter.Articles You Might Like:Gates CEO to corporations: Nonprofits can help you spur business and fight poverty at the same timeDisruptive sanitation: Can 3-wheeled carts…
via Global Envision:
Myth 1: Poor countries are doomed to stay poor.
"The easiest way to respond to the myth that poor countries are doomed to stay poor is to point to one fact: They haven't stayed poor."
– Bill Gates.
Find out details and read how Gates debunks two more myths in his 2014 annual letter.
For more info: Quotable: Bill Gates debunks 3 myths about the world’s poor
The post Quotable: Bill Gates debunks 3 myths about the world’s poor appeared first on FX FOREX.
