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Trading by yourself vs Letting someone trade for you
I did some heavy study on forex before and finally created a nice system that I did ok with live trading but I still could become a lot greater than that with more study.
But then I found out about being able to invest in other traders.
They take a cut of the profit.
The pro of doing it on yourself is that. first of all you don’t need to share a small cut of your profit with someone.. and you can choose to do high risk trading.. “gambling”.. for a short period.
But if you let a trader do it..
1. You don’t have to spend a million hours on studying and learning how to trade and the education never really stops even once you are successful you can still continue learning.
2. You don’t have to sit in front of the computer boring yourself to death looking at charts several hours per day.
Uhmm, That’s it I guess.
But these 2 points are easily worth giving a pro trader a 20% share of your profit imo.
I just want to see what others think about this and why they insist on learning to trade by themselves.
I recently got this urge to become a great trader because so many pro traders sound really dumb when they talk about their system and method.
It makes me wonder how great I could become if they can become so good.
But the trader I’m investing in right now bring in on average 5% per month.
And he has recently gotten a lot better and it’s probably even more per month now. He is very safe investment too because he has many years of history and thousands of trades done and has had close to none losing months.
So I really can’t make myself stop investing in him and starting to trade on my own because of the pros and cons I’ve already mentioned.
Это новое, существенно обновленное и дополненное издание международного бестселлера Trading for a Living д-ра Александра Элдера. За годы с первого издания книги в 1993 году, она была переведена на многие языки. Сегодня это самое популярное руководство по биржевой торговле в мире, настоящая мировая классика обучения новичков: нет другого издания, которое достойно обозначения the must для всякого трейдера — от домохозяйки до биржевого спекулянта. Решив поиграть на бирже, либо в качестве развлечения, либо дополнительного заработка, либо основного источника доходов, чтобы не остаться в дураках, обязан внимательно изучить эту книгу.
Книга учит, прежде всего, как выжить в толпе биржевых хищников, как не потерять свой капитал, как справиться с буйными эмоциями, как анализировать рынок и фиксировать свои поступки, чтобы научиться играть и выигрывать на бирже. Кстати, русское издание, вышедшее в 1996 году, так и называлось — «Как играть и выигрывать на бирже».
Д-р Элдер своей книгой пытается излечить легкомысленного читателя от романтизации биржевой удачи. Он выкорчевывает всякие ростки азарта, низводя судьбоносную игру с пьедестала экзистенциального знака фортуны до обучения технике пираньи, систематически откусывающей от рынка свои кусочки удачи, превращающиеся, в конечном счете, в финансовый успех. Автор обучает новичков технологии финансового успеха предельно доступно, на наглядных примерах и с неизменным юмором, оживляющим трагический текст. А как иначе его назвать? Разве не трагедия, когда вместо иллюзии свободного полета тебя приковывают к унылой дисциплине и скучным правилам безопасности, чтобы не разбиться насмерть?
Потому-то эта самая необходимая книга для каждого, кто хочет заняться биржевым трейдингом, включена в списки обязательной литературы для начинающих трейдеров. А сам автор часто бывает в разъездах, проводит учебные лагеря на тропических островах, дает интервью деловым телеканалам, ведет семинары и мастер-классы по всему миру — в Лондоне и Сингапуре, Токио и Сан-Паулу, Нью-Йорке и Москве.
Александр Элдер родился в Ленинграде и получил медицинский диплом университета Тарту. Сорок лет назад он радикально изменил свою жизнь: сбежал с советского судна, где был врачом, и оказался в Нью-Йорке, без денег. Теперь он свободно владеет английским, но не забыл и русский язык. Со временем выходец из СССР стал авторитетным специалистом, обучающих капиталистов всего мира правильно делать деньги на бирже. Один из самых грандиозных мастер-классов он провел в Гостином дворе в центре Москвы, собрав тысячи слушателей.
У меня особый роман с этой книгой. Прослышав про русское издание 1996 года, я отправился в Дом книги на Новом Арбате, но в продаже книги не оказалось. Продавец посоветовал спросить у уличных торговцев книгами, обитавших на уличных лотках рядом с крупнейшим книжным магазином. У них я приобрел первое издание «Как играть и выигрывать на бирже». Втридорога. Но ни разу не пожалел. Потом довелось познакомиться с Александром Элдером и взять у него интервью для делового еженедельника.
На моей полке стоит и второе издание «Как играть и выигрывать на бирже» 2001 года издательства «Диаграмма». Переводчики с английского там те же М. Волкова и А Волков. Они выполнили труднейшую задачу: перевели книгу, хотя в русском языке тогда почти не было лексики, связанной с биржей и трейдингом. Даже самого слова «трейдинг» еще не было! За пять лет после первого издания в России появился фондовый рынок, своими терминами и жаргоном обогативший русский язык. Александр Элдер внес заметные поправки в текст перевода второго издания.
После трагической гибели владельца «Диаграммы» Игоря Самотаева, с которым нас связала дружба, многочисленные книги Александра Элдера выпускает издательство «Альпина Паблишер». В их числе опубликовано расширенное издание «Как играть и выигрывать на бирже. Психология. Технический анализ. Контроль над капиталом», включающее задачник, в котором 200 вопросов и ответов привязаны к главам книги. Полагаю, скоро московское издательство «Альпина Паблишер» порадует российских читателей переводом The New Trading for a Living.
С каждым годом в России все больше людей играют на бирже, пользуясь всеми доступными средствами — от домашних компьютеров до смартфонов. Их не удовлетворяет доходность банковских вкладов, не покрывающая инфляцию и другие провалы денежной политики правительства и Центробанка. Игра на бирже — не просто развлечение и источник адреналина, но источник неплохого регулярного дохода.
The New Trading for a Living издательства Wiley великолепна: солидная книга отпечатана на плотной мелованной бумаге с множеством цветных иллюстраций — компьютерные диаграммы, на которых д-р Элдер показывает конкретные биржевые ситуации, теперь цветные. В целом структура книги сохранена. Но некоторые главы, особенно во второй половине книги, подверглись заметной переделке. Что-то удалено, но также появилось немало нового и весьма ценного.
Главы 6, 7 и 8 слились в одну, описывая различные биржевые индикаторы. Глава о торговых системах стала более обширной. Новая глава 8 “Trading Vehicles” говорит о биржевых инструментах — акциях, ETF (торгуемых на бирже инвестиционных фондах), опционах, CFD (контрактах на разницу цен), фьючерсах и форексе. Глава 9 “Risk Management” расширена и более подробно излагает методы контроля над риском. Новая глава 10, на мой взгляд, весьма важна практически: в ней показано, как до начала игры ставить цели и уровень доходности, а также, что еще важнее, как выставлять стопы. Здесь также сказано о методах поиска новых возможных сделок. Чрезвычайно важна и глава 11 “Good Record-Keeping”: первое издание заканчивалось рекомендацией читателям каждый день письменно выполнять «домашнее задание» и проводить работу над ошибками, регулярно ведя и анализируя собственный дневник. Теперь д-р Элдер развернул свой совет до целой главы и показывает, как он сам ведет дневниковые записи, позволяющие постоянно учиться на собственных ошибках, карабкаясь к вершинам совершенства.
Увы, как показывает практика, многие надеются на «авось», так как не любят или не умеют использовать такие «спасательные жилеты» для снижения риска. Предлагаемые д-ром Элдером средства безопасности и самодисциплины меняют стиль игры на бирже, окончательно превращая ее из разновидности казино в несколько рутинную, но надежную технологию извлечения прибыли. Впрочем, рынок ведет себя непредсказуемо, и риск всегда рядом, поэтому для азарта и эмоций в биржевом трейдинге всегда найдется место.
Dr. Alexander Elder. The New Trading for a Living: Psychology, Discipline, Trading Tools and System, Risk Control, Trade Management, 2nd edition. — Издательство John Wiley & Sons, Inc., Hoboken, New Jersey, USA, 2020. — 304 с.
Trading for Yourself: The Trials and the Plus Sides
Y ou’re alive right now. In front of you sits just a handful of hours before the day is through. What tomorrow has in store, you cannot know. Piles of problems could be dumped on you. A surprise call from the doctor could change everything. You could wake up with the flu and spend the next week in bed. You could not wake up at all.
This leaves you with a few options for today: You can muddle through, you can worry about all the things that might happen, or you can seize the day—here and now. The right choice is obvious, but that doesn’t mean it’s easy.
The famous Latin phrase carpe diem, or “seize the day,” has stared at us from coffee cups and motivational posters for as long as we’ve been alive. Longer, in fact; it’s from a poem written in 23 B.C. We’ve been struggling to follow this simple anodyne command basically since the beginning of time. It was hard for the ancients, and it’s hard for us.
What is cool, however, is that since right around Horace’s time, smart people—especially the ancient Stoics—have been developing strategies for how to seize the day. They’re not magical solutions, but they do help. They work if you work them. So let’s get to it.
Get up early
I was 19 years old and in college when I first read Marcus Aurelius’ Meditations. As an underclassman, I found myself stuck in an early class I could never seem to get motivated for. The opening passage of Book V struck me as particularly appropriate:
At dawn, when you have trouble getting out of bed, tell yourself: “I have to go to work—as a human being. What do I have to complain of, if I’m going to do what I was born for—the things I was brought into the world to do? Or is this what I was created for? To huddle under the blankets and stay warm?”
—But it’s nicer in here…
So you were born to feel “nice”? Instead of doing things and experiencing them? …
—But we have to sleep sometime… Agreed. But nature set a limit on that—as it did on eating and drinking. And you’re over the limit.
It’s just so lovely. The most powerful man in the world chiding himself for wanting to stay in bed. A guy reluctant to get out from under the blankets and put his feet on the cold floor—just like the rest of us. But he knows you can’t seize the day lying down. Dante had a similar line: “Beneath the blanket is no way to fame.” You have to get up. And, ideally, you have to get up early.
Getting up early gives you a win before you actually have to do anything. It also allows you to start working before the distractions and interruptions start. I get up around 6:30 a.m., and by 9 or 10, I’ve already gone for a walk, had breakfast with my family, and written enough that I can count the rest of the day as a bonus.
Do it now
There is procrastination—the habit of putting things off until the last minute—and then there is what most of us do. We tell ourselves, “Oh, I’m definitely going to do it, but not right this second.” “I’ve got time later in the week,” we insist. Or we kick the can in the name of efficiency and tell ourselves we’ll do it when we’re doing some other thing. As Steven Pressfield writes, “We don’t tell ourselves, ‘I’m never going to write my symphony.’ Instead we say, ‘I am going to write my symphony; I’m just going to start tomorrow.’” We might even think it’s better to postpone because we’ll be better rested or more prepared. But waiting just increases the chance we don’t do it at all . Life always intervenes, and we might not be lucky enough to have a tomorrow.
As Seneca writes in The Shortness of Life, “Putting things off is the biggest waste of life: It snatches away each day as it comes and denies us the present by promising the future. The greatest obstacle to living is expectancy, which hangs upon tomorrow and loses today… The whole future lies in uncertainty: Live immediately.”
You can’t predict later, so the present moment is your best opportunity to answer those emails, read that book, get in that workout. Don’t waste it.
Put devices away
Seneca wrote constantly about time. One of his most compelling observations is that people are protective of their money, their property, and their possessions, yet careless with the one thing they can’t get back: time.
“It’s not that we have a short time to live,” he said, “but that we waste a lot of it.” Can you imagine what he would say about the fact that today people spend, on average, more than five hours per day on their mobile devices? That’s 76 days a year—nearly 11 weeks—staring into an abyss of distraction.
In his book Digital Minimalism, Cal Newport explains that the people who design devices and social media platforms are not your friends, and you are not their customer. Instead, you are the product they are selling to advertisers, apps, and data providers.
The average user engages with their mobile device more than 2,600 times a day. What if, even just a dozen of those times, we reached for a journal and a pen instead? Or a book? Or our work? Or a loved one? There are few problems we couldn’t solve, few things we couldn’t do, if we spent those five hours being productive instead of addicted and distracted.
Don’t try to be perfect
One of the reasons we have trouble getting stuff done (or getting started) is we expect perfect conditions or hold ourselves to impossible standards. As Churchill said, perfection may also be spelled P-A-R-A-L-Y-S-I-S. If you want to seize today, you’re going to have to be content taking it as it is, as you are. “Don’t go around expecting Plato’s Republic” was Marcus Aurelius’ line. And when you come across brambles in the path, he said, go around. If your food tastes bitter, throw it out. The point is to keep moving, to start making progress.
Productive writers know that a rule of four crappy pages a day is how you create momentum and get through writer’s block. Don’t expect or demand flawless work from yourself — just demand work, period. The dancer Twyla Tharp’s morning ritual is about getting out onto the street and into the taxi — the rest (the time at the gym, the practice, the inspiration) takes care of itself.
“Some lack the fickleness to live as they wish,” Seneca wrote, “and just live as they have begun.” It’s so easy to get stuck in patterns. To feel terrible because we’ve had a bad couple of days. To mope about our failures and mistakes. To live in our daydreams instead of reality.
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Life is too short not to change, not to try, not to take risks. It’s also too short to keep doing things the way you’ve always done them if those methods are no longer working.
My wife and I live on a little farm in Texas, and it’s always interesting to hear people’s reactions. They say stuff like, “I’ve always wanted to do something like that,” or mention that it’s their dream to live in the country. My wife and I did not win a special license from the government that exempts us from living in town. No one gave us permission. We just moved.
If you want to have a different life, if you want to realize your dreams, you’re going to have to take action and accept change. If you want to travel, that means selling some of your stuff and hitting the road. If you want to own your own business, you have to quit your job. Not in the future. Not when someone takes care of all the details. Now.
Don’t leave things hanging
Wellington’s rule for himself was to do the business of the day in the day. He didn’t leave things hanging or half done. He finished what he started. He didn’t have 13 projects in various stages of completion.
Marcus Aurelius and Seneca talk about balancing the book of life each day, or living today as if it was a complete life in and of itself. Knowing that you have to complete things, that you can’t just start and stop, helps you prioritize. It helps you decide if each action is important. It makes you say, If I am going to do this, I am going to do it right.
Following this rule keeps my to-do list short. I include only things I am likely to do, and I derive great satisfaction from tearing up a completed list at the end of the day. It also help me manage my bigger endeavors. To me, a book is not an enormous project, but a series of smaller ones. Technically my next book won’t be done at the end of each day, but I will have finished writing the individual chapter or section I sat down to tackle. And it will be the absolute best I could do.
Eleanor Roosevelt had a great rule: We must do the thing we cannot do. And if you look at her life, she more or less followed it. She conquered her shyness and became a leading public figure. She overcame sexism and preconceptions about the role of a First Lady — a job she never wanted — to turn it into a powerful pulpit for good. She was an embodiment of that famous line from her husband about how the only thing to fear is fear itself.
You can’t seize the day if you are scared all the time. You can’t get the most out of life if you are afraid of taking risks. All the good stuff you want in life — or today — is on the other side of the reservations and fears that have been holding you back.
The Stoics wanted us to know that we are capable of far more than we know. We can do far more than anyone else thinks. We have great strength and power within us, if only we choose to seize it and ignore that can’t/don’t/won’t/shouldn’t voice in our heads. Whether you look at the life of Marcus Aurelius (which was marked by countless betrayals and setbacks) or the tortuous ordeal of James Stockdale (which was a nearly inhuman trial), you see men and women doing things no one thought they could do. Things that, at the outset, even they probably didn’t think they could do. The same is true for you today.
Don’t defer your happiness
Even in ancient times, people fell for the mirage of retirement, the idea of some far-off future where suddenly they would have what they desired and finally live the way they wanted. As Seneca wrote:
You will hear many people saying: “When I am fifty I shall retire into leisure; when I am sixty I shall give up public duties.” And what guarantee do you have of a longer life? Who will allow your course to proceed as you arrange it? Aren’t you ashamed to keep for yourself just the remnants of your life, and to devote to wisdom only that time which cannot be spent on any business? How late it is to begin really to live just when life must end!
Now is now. If you can’t be happy with who you are or what you have (or the time you have), it’s not going to happen. The things you want are attainable. More money or fame or power is not the answer. Living in this moment is. Working yourself to the bone so you can buy a speedboat and a lake house when you’re older is crazy.
That’s not to say you should be reckless or irresponsible. But don’t trade your today for the hope of a tomorrow that moves further away the harder you chase it.
Demand the best of (and for) yourself
My favorite expression is “How you do anything is how you do everything.” I love it because it dispenses with the lie that the task in front of us doesn’t matter, or that certain things are beneath us. If we’re doing something, it’s important. And if we’re going to do it, we should do it right. The person who says, “I don’t care about this job,” “I don’t care about this phone call,” or “None of this says anything about me” is not living in the moment, but in their head or ego.
The better approach is to be present and do your best at everything. If you’re not going to try hard right now, in the moment, when will you?
I love this call to arms from Epictetus, a philosopher who survived slavery to become influential enough to teach emperors. Even so, he was still pushing himself to be better and live up to his principles:
How long are you going to wait before you demand the best for yourself? You have been given the principles that you ought to endorse, and you have endorsed them. What kind of teacher, then, are you still waiting for in order to refer your self-improvement to him? You are no longer a boy but a full-grown man. If you are careless and lazy now and keep putting things off and always deferring the day after which you will attend to yourself, you will not notice that you are making no progress but you will live and die as someone quite ordinary. From now on, then, resolve to live as a grown-up who is making progress, and make whatever you think best a law that you never set aside.
The most powerful exercise in Stoicism is the most intimidating because it requires us to focus on the most unpleasant thought: our own death. That might seem morbid or even counterproductive. If we’re going to die, why does today even matter?
Existence matters because it’s finite. Once the sand goes through the hourglass, we can’t put it back. Death gives our time on this planet meaning and urgency.
In my pocket, I carry this Memento Mori medallion. On the front, it has a skull flanked by a flower and an hourglass. Life. Time. Death. On the back, it has this quote from Marcus Aurelius:
You could leave life right now. Let that determine what you do and say and think.
I never leave home without the medallion. It inspires me. It challenges me to be better and not to take tomorrow for granted, because it isn’t a given. It reminds me to put away my devices. It reminds me to take the task in front of me seriously, because it might be the last time I get to do it. It reminds me to demand the best of and for myself. Because if not now, when?
Today could be the last day of my life. It could be the last day of your life. It could also be the best day of our lives.
6 weird things Russians do that baffle foreigners
People attend the Crimean leg of the 2020 Aviadarts military aviation competition in the Chauda training ground of the Russian Aerospace Forces near Feodosia.
1. Prepare to arrive hungry
The plate should be finished. / Legion Media
“From a Russian’s perspective, when you offer a plate of food it’s important for the guest to finish it, or else it’s seen as disrespectful. From the Arab side, how much you can eat is okay and we don’t really mind if you finish the plate or not.” – Adel Al Khozaae, Bahrain.
“Russians love to cook a lot of food with mayonnaise, and often they cook more than they can eat. Also, caviar doesn’t seem to be a delicacy because you find it in almost every home.” – Daan van Dijk, Netherlands.
2. Drinking culture
Russians like to say many toasts. / Legion Media
“Most, if not all, sittings that involve drinking consist of many toasts. Only lazy Russians simply say, “Na zdorovie” (“cheers”), [which is not a Russian toast at all – Editor’s note]. Instead, most Russians say long complicated toasts, and tell anecdotes or stories from their life.” – Santiago Gómez, Colombia.
“Maslenitsa (an Eastern Slavic religious and folk holiday) and the whole drinking culture seemed weird at first, but when we understood more about it, we realized that it shows how cultured Russian people actually are. So, while they may seem weird at first, you start to appreciate and admire how much Russians value their oldest traditions and try to maintain their culture.” – Kostas Vafeidis, Greece.
3. Always dressing to impress
Russian woman. / Legion Media
“Most females tend to dress up for any occasion outside the home, even walking a dog or shopping for groceries.” – Piotr Kowalski, Poland.
“Unless she’s holding a walking stick, all females must be called “devushka” (“young lady”).” – Noah Schneider, Germany.
4. Paradoxes of standing in line and driving
A traffic jam on Aleutskaya Street, Vladivostok. / Alexandr Kryazhev/RIA Novosti
“There’s no concept of lines anywhere. When one sees a queue, he tends to ask for the last person in line and blatantly follows them, disregarding the possibility to read the information signs and take a ticket number.” – Ji Hoon Kim, South Korea.
“If you allow one car to merge into traffic in front of you, it is a signal to every driver that you are allowing all vehicles to merge in front of you. This results in angering every driver behind you. Perhaps this is why Russian drivers are considered to be some of the most aggressive in the world. This also applies to standing in lines at the airport.” – Adam Collins, U.S.
5. Soviet nostalgia
A still from the animation series ‘Nu, pogodi!’ (You Just Wait!) recorded at Soyuzmultfilm studio. / I. Brenner/RIA Novosti
“It was weird to see Russian adults watch Soviet cartoons over and over again. As we were told later, the cartoons became a cultural phenomenon that reflected Soviet society, and this is why these cartoons are so beloved and still popular.” – Noah Schneider, Germany.
Woman going to leave room. / Getty Images
“Whistling is considered both rude and indicative of being low-class and/or uneducated. In the U.S., whistling is an expression of enjoyment. I have no idea why this is so different in Russia. Also, if my luggage is packed, my apartment is prepared, and my travel documents are in hand, what is the purpose to take a seat immediately before walking out the door? I was told that this is to whisper a silent prayer for good luck. However, when I was a student in the Soviet Union in 1990, this was also standard, and that was a time when religion was largely forbidden. I have no idea why or how this began.” – Adam Collins, U.S.
How do Russians calm their foreign friends if something like this happens?
“Russian people are inclined to say, `This is Russia,’ when confronted by an inexplicable situation, be it a success or failure.” – Ji Hoon Kim, South Korea.
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Missing Mother Russia: The trials and tribulations of life in foreign lands
10 Russian words impossible to translate into English
5 famous Russians who could have starred in Game of Thrones
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