Playing to Win or Playing not to lose
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     smallworld
Member
Username: smallworld
Post Number: 556
Registered: 01-2004Rating: N/A
Votes: 0
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| | Wednesday, March 21, 2007 - 01:32 pm: |  
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The Cricket World cup is here, and the pressure on Ricky Ponting must be immense for not letting down the Aussie supporters. The thought of "Hell, what if we dont win" and this and that must have crossed his mind at least once or twice. Now, in situation like that it could drive someone into playing not to lose where fear dominate the psyche (Not that Ponting ever will). I dont know if Rick was ever asked that question, but a captain of another elite sport team was, and here is his answer "Why dont we look the other way? you know, how good would it be if we won and it's exciting to be able to play for our country"
Do you see people struggling to come to term with the risks in the market? Playing not to lose is not a bad thing, especially when you're new to the market. But Once you've been there for awhile, you surely want more.
Cheers
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peterloh
Member
Username: peterloh
Post Number: 2439
Registered: 03-2003Rating: N/A
Votes: 0
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| | Wednesday, March 21, 2007 - 02:14 pm: |
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You articulate it so well,smallworld.It is all what it is about.You and I have the confidence in what we are doing and as a result commit ourselves to the shares we have.The shares are the evidence of the success or failure of our commitment.It is not a matter of getting it all right but by staying in longer if we get it right and to limit our losses if we get it wrong.However, not everyone is comfortable with what we are doing, I accept that. I will leave things as there are.You and I are sharing our experience with what we are doing and how we view the market, however the market can be view so many different way, that it is impossible to say who is right or wrong.As the saying goes, I DO IT MY WAY.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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eric
Member
Username: eric
Post Number: 114
Registered: 09-2006Rating: N/A
Votes: 0
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| | Friday, March 23, 2007 - 11:42 am: |
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Knowing what we really want and focus on it creates success. Focus creates reality. And I am sure that both Paul and Peter are focussed, that is why they are successful. Do you really want to be a successful share trader? Why do you want that? Is it for money? is it for adrenalin? Is it to win? No, successful traders want to be a share trader because their dream is their lifestyle. They focus on having that lifestyle for themselves and their family, that is their dream.The are not so much worried about gains and losses, about oodles of indicators. The focus on their plan and they know that they will be doing well. Focus on the dream. Thoughts and feelings are there to distract us, but they are not reality.
I am sure that the handful of successful traders (yes, there is only a handful) are focussed on their dream.
For what it is worth
Eric
Time frame: as long as it takes
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peterloh
Member
Username: peterloh
Post Number: 2455
Registered: 03-2003Rating: N/A
Votes: 0
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| | Friday, March 23, 2007 - 12:16 pm: |
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Hi eric,
Nice to hear your words of wisdom.For a moment I was wandering whether someone was trying to peddle to me some new products or share trading programme, my apologies for having such thoughts.Upon reading your profile as a psychologist, I like to share with you what I am doing.Please let me know whether I am on the right track.PASSION is what makes me thrive, without that I won't participate in anything that I do for a purpose.I could have retired any time that I want to BUT what makes me stay on is that I enjoy what I do, it is not work to me, it is what I love to do, the reason that it is ahead of my travelling which I also love and other interesting hobbies like fishing, bush walking or golf.
In the past I have always relied on my staff to do a lot of things and I know zilc about the computer.Only started learning a few years back and used outlook express. Now I am trying to change over to OUTLOOK.Also we changed our company from PJ Loh & Sons Pty Ltd to FOCUS PLANNING GROUP PTY LTD.The idea behind the company name is many of us do not focus on our job, now the name will remind us, the purpose of the company,our commitments to our clients,our staff work ethics and our objectives in life,social and at work, we should not forget what we are here for, hence the name change.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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eric
Member
Username: eric
Post Number: 115
Registered: 09-2006Rating: N/A
Votes: 0
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| | Friday, March 23, 2007 - 06:05 pm: |
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Peter, thank you for you very interesting post. Yes, I feel that you are on the right track. Focus creates energy, creates passion, creates reality. And just in passing, we both seem to have similar hobbies. I love traveling, travel for 3 months every year. In June we will be off to Thailand for 3 months. I also love fishing and bush walking, but have stayed clear of golf so far.
I retired some years ago, but am still quite involved in psychology. I too will not do anything unless it fits in with my dream, thus giving me passion.
I am interested to hear about your company FOCUS PLANNING GROUP, true enough most people do not focus on anything hard enough.
Anytime you feel like sending me an email, please feel free to do so.
Eric
Time frame: as long as it takes
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