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A leap of faith after a career in software engineering: Jian’s story

Here is the link. 

Jian worked at Google for a decade before deciding to make the move to bp earlier this year. Already an experienced software engineering manager, he realised he wanted to become more involved on the technology side of a digitally minded business.

 

Now working as a principal data engineer as part of bp’s data & analytics Centre of Excellence team, Jian is one of the most senior data engineers within the organisation, providing technical guidance and direction across a range of data driven projects.

A defining moment for bp as a digital-first organisation

While at Google, Jian’s work focused on digital transformation for the company’s data centre operations. There he led a team of engineers, developing data platforms, mobile platforms, and highly complex server computations.

Despite being relatively new to the energy sector, Jian was pleased to learn about the importance of digital transformation as part of bp’s new strategy. “bp is far more digitally orientated than I originally thought” he says. “The company is reinventing itself as a digital-first organisation and that’s why I’m so excited to be working as a data engineer at this time – there’s a chance to play a revolutionary role within the company that will define our history”.

Jian has worked on exciting projects since joining bp, such as the development of bp’s Unified Data Experience, a tool that will help to inspire users from across the business to discover and leverage data for business insights. Speaking about the project, Jian says: “I’m proud that the Unified Data Experience has been a success so far, even though it’s still in its early stages! We’re starting from scratch, but it’s been a real team effort and we’ve made incredible progress.”

Becoming a data engineer

Jian was in the process of relocating to Texas when bp reached out to him and he admits he was hesitant.

 

 

They were looking for someone to fill the role of data engineer and at the time I didn’t think I was qualified enough”, he explains. “I’d always considered myself more of a software engineer.

The turning point for Jian was his interview. He learnt about bp’s digital strategy and met with bp experts who explained more about the work that bp is doing to reinvent itself. “I was blown away”, Jian recalls. “It was only then that I realised how little I knew about bp, and I remember thinking that now was the right time to take a leap of faith.”

 

Although Jian had not previously worked in data engineering, bp have supported him as he has developed new skills. “I believe that a career should be a platform to grow and appreciate the fact that bp were willing to put their trust in me” he says. “From the very beginning I knew they would help me learn and grow into my role.”

 

bp is exposed to a vast array of technologies and in Jian’s mind this equals a vast array of opportunities. “There’s a genuine belief that things can be challenged and transformed, alongside a determination to see it happen”, he reflects.

在股票、期货或选择权市场中进行交易

 赌博是根据技巧或分析机会而下赌注，希望赢取彩头，社会上普遍存在这种行为，大多数人在一生之中都曾经进行某种形式的赌博。

弗洛伊德认为，赌博具有普遍性的诱惑，因为它是自慰的替代品。赌博与自慰之间有许多关联：手部所产生的重复性刺激行为、难以抗拒的欲望、戒除的决心、令人上瘾的愉悦与罪恶的感觉。

加州的一位杰出心理分析学家葛林博士（Dr.Ralph Greenson）将赌徒分为三类：正常人基于消遣而从事的赌博，他随时能够停止；职业的赌徒，他们选择赌博为谋生的方法；病态的赌徒，他们是基于潜意识的需要而赌博，没有能力克制或停止。

病态的赌徒或是觉得自己很有“偏财运”，或是想测试自己的运气。获胜能够带来权力的感受，他觉得愉悦，就如同婴儿吸吮乳头。病态的赌徒注定是输家，因为他仅希望重建那种无所不能的无上愉悦，不专注于现实世界的长期游戏计划。

纽约“南橡医院”戒赌中心的执行长布伦博士，她称赌博为“没有毒品的毒瘾”。大部分的赌徒都是男性，他们为了追求而赌博，女性通常是藉由赌博而逃避。输家通常会掩饰他们的损失，并试图表现得像赢家一样，但终究不能逃脱自我怀疑的折磨。

在股票、期货或选择权市场中进行交易，可以让赌徒享有所需要的高潮，而且看起来比较正常。另外，相对于在赌场里吆喝来说，金融市场的赌博看起来比较有学问，带着一层精打细算的色彩。

当交易顺手时，赌徒会得意忘形；当发生损失时，则垂头丧气。他们完全不同于成功的专业交易者，后者专注于长期的计划，不会因为短暂的获利而兴奋，或因为损失而沮丧。

经纪人非常了解，许多客户都是赌徒。他们尽可能避免留话给客户的妻子，即使是交易的回报也是如此。赌徒并不完全是来自于业余者，许多专业交易员也有这类的问题。Sonny Kleinfield在他的作品The Traders中提到，场内交易员普遍有赌博的倾向，尤其是针对运动比赛的赌博。

病态赌博的主要征兆，是你无法抗拒下场一博的欲望。如果你觉得自己的交易过度频繁而结果很差，最好停止交易一个月，让自己有机会重新评估交易的方法。

如果交易的欲望如此强烈，实在没有办法停留在场外一个月，“戒赌中心”恐怕才是你应该去的地方；

自我破坏

多年的诊疗经验让我相信，生活中的失败大多是起因于自我破坏。在专业中，事业上与人际关系之间的失败，并不是因为愚蠢或无人能及，而是为了实现潜意识中的失败欲望。

我有一位聪明绝顶的朋友，他一辈子都不断摧毁自己的成功。年轻的时候，他曾经是非常成功的业务员，但被解雇了；他接受训练而成为经纪人，几乎爬上公司的最高层职位，但因故被控告；他成为一位著名的交易员，但仍然摆脱不了先前的灾难，于是又失败了。他将一切归咎于嫉妒的主管、无能的执法人员与不够体贴的妻子。

最后，他非常潦倒，没有工作与金钱。他向另一位被迫出局的交易者借用报价的终端机，向一些知道他过去擅长交易的人们募集资本，他确实知道如何进行交易，所管理的基金赚了不少钱，风评逐渐传开，投入资金的人愈来愈多。这位朋友又开始攀向成功的高峰。在这个时候，他前往亚洲演讲，沿途仍然继续交易。在演讲会的空档阶段，他前往一个以色情著称的国家，但留下一个未设定停损的庞大未平仓部位，当他重返文明世界之前，市场发生一波重大的走势，所管理的基金被一扫而空。他是否尝试了解自己的问题？是否尝试改变？没有----他责怪他的经纪人！

反省自己失败的内在原因，这是一种极度痛苦的程序。当交易者陷入困境，他们习惯于责怪别人、运气或任何其他事物。

一位非常杰出的交易员前来我的诊所，他的帐户被美元的一波升值走势击垮，因为他大量放空美元。他的童年时期是在父亲残暴的阴影下度过。交易圈内的人都知道，他非常擅长于针对既定趋势的反转走势押下庞大的赌注。这一次，他不断追加空头部位，因为无法承认市场----代表他的父亲----强过他。

这仅是两个例子，但可以说明人们的行为如何源自于自我破坏的心理。我们的行为象冲动的小孩而不是明智的成人----破坏与打击自己，我们陷入自我摧毁的模式中而无法自拔；但是，它们是可以避免的----失败是一种可以治疗的疾病。

大毁灭的竞赛

几乎所有的行业都为其成员提供某种安全网，当你呈现自我破坏的危险行为时，主管、同事或客户都会提醒你。交易没有提供这方面的设施，所以它的危险性远高于其他的人类行为，市场提供许多自我摧毁的机会，而且没有安全网。

社会上的每一位成员都拨出一部分的心力，彼此防范错误的后果。驾车的时候，你避免撞击其他的车辆，其他的车辆也避免撞击你。如果某部车子突然打开车门，你会闪开。在高速公路上，如果某人突然切入你的车道，你或许会“fuck”，但还是把车子慢下来，你避免发生车祸，因为双方所付出的代价都太高。

在市场中，人们缺乏正常的互助心理。每位交易者都希望撞毁对方，每位交易者都会被对方撞伤。交易的高速公路上哀鸿遍野，沿途都是车祸遗留下来的残破车辆。交易是最危险的人类行为，仅次于战争。

在盘中的高点买进，就如同在车流中突然打开车门，当你的交易指令到达场内时，交易员都争先恐后的卖给你----撞毁你的车门，包括你的手在内。交易对手希望你失败，因为他们希望占有你的损失。

控制自我摧毁的倾向

在一生之中，许多人在60岁仍然触犯20岁的错误。另一些人在某个领域内非常成功，在另一个领域内却充满内在的冲突，很少人可以由挫折中学习。

你需要了解自我破坏的倾向，不要再把损失归咎于他人或运气。你必须承担所有的责任，开始登录交易日志----记录每笔交易的过程，进场与出场的理由。评估成功与失败的重复性形态。如果不能由过去的经验中记取教训，势必重蹈覆辙。

你需要张开心理的安全网，就如同登山者需要一套求生设备。我发现“戒酒互助会”的原则很有助益，另外，严格的资金管理也可以提供安全网的功能。

如果你希望透过心理治疗来解决交易的问题，请找一位胜任的心理医师，而且他懂得交易。在治疗过程中，最终的责任仍然在于你，密切观察进度与发展。我经常告诉我的患者，如果一个月之内没有明显的改变，治疗方法显然有问题。如果两个月之内还没有进展，你应该另外寻找心理医师。

你的感受将立即影响帐户的净值。你可能拥有一套最棒的交易系统，但如果你感觉害怕、傲慢或懊恼，一定会殃及你的帐户。当你察觉自己有赌徒的陶醉或恐惧心理，立即停止交易。身为交易者，成败是取决于你如何控制自己的情绪。

交易的时候，你是与全世界第一流的心智做搏斗。搏斗的竞技场稍有倾斜，你是处于不利的地位。如果你允许情绪干扰交易，这场搏斗已经结束了。

对于所进行的每一笔交易，你都必须自己承担所有的责任。交易起始于你的进场决策，结束于你的出场决策。一套理想的交易系统并不足够，虽然拥有第一流的交易系统，许多交易者还是被市场冲刷得体无完肤，因为他们在心理上没有获胜的准备。

违背既定的法则

市场将提供无限的诱惑，就像走过黄金宝库或国王的后宫，市场将挑逗你，让你兴起追求更多获利的贪婪欲望，也会掀起恐惧的心理，让你担心失去既有的获利，这些情绪将遮蔽你对于机会与危险的判断。

经过一连串的获利之后，大多数的业余交易者都非常佩服自己的交易才华，这确实是一种飘飘然的感受。你认为自己的境界已经不受任何规范的约束，你可以违背既定的法则而继续成功。于是，交易者开始漠视自己所设定的法则，进入自我摧毁的模式。

交易者汲取一些知识，他们开始有所进展，然后情绪浮现，他们自我摧毁。大多数交易者都立即把他们的“斩获”交还给市场。市场中充满“看他起高楼，看他楼塌下”的故事，真正成功的交易者，他有能力累积净值。

交易的程序应该尽可能保持客观，记录交易的日志，附上交易之前与之后的走势图。利用一张清单列示所有的交易资料，包括佣金与滑移价差在内，采取严格的资金管理法则。你从事自我分析的认真程度，至少应该等于你的行情分析。

刚开始学习交易的时候，我尽可能阅读全部有关交易心理的书籍。许多作者所提供的建议都很合理。某些强调纪律：“你不可以让市场撼动你，不可以在盘中拟定决策。预先拟定交易计划，根据计划进行交易。”另一些则强调弹性：“不可执着成见进场，随着市场情况调整计划。”某些专家建议孤立----不收听经济新闻，不阅读《华尔街日报》，不听从其他交易者的意见----只有你与市场之间的对决。另一些专家则主张保持开放的心胸，尽量与其他交易者沟通，吸收新的观念。每项建议似乎都很有道理，但彼此之间却相互矛盾。

我继续阅读，进行交易，专注于系统的发展。我也继续从事精神治疗的门诊业务。我从来没想到这两个领域将有所关联----直到我突然体会一种观念，这个观念改变我的交易方法，它是来自于精神病理学。

改变交易模式的观念

如同大部分的精神医生一样，我有一些酗酒的病患，我也担任一家大型戒毒中心的顾问。经过不久，我发现酗酒者与吸毒者参加“互助会”的团体之后，其复原的效果远胜过传统的心理治疗环境。

心理治疗、药物治疗、昂贵的医院与诊所设备，它们虽然可以让酗酒者清醒，但很难让他们保持清醒。大部分的酗酒者很快又沉迷在酒精中，如果让他们积极参加“戒酒互助会”（Alcoholics Anonymous，简称AA）或其他类似的团体，复原的机会将大得多。

当我发觉AA的成员有很高的治疗比率之后，我成为“戒酒互助会”的忠实赞助者。我开始把酗酒的病患送往AA或其他类似的团体，例如：ACOA。现在，如果有酗酒问题的病患前来找我治疗，我都坚持他同时参加AA的聚会。我告诉他，如果不这么做，将是浪费我们双方的时间与他的金钱。

多年以前的某一天晚上，我前往一位朋友的办公室，邀他一起参加同业的晚会。当时距离晚会开始的时间还有两个小时，我的朋友问我：“你是想去看一场电影，或陪我参加一场AA的聚会？”虽然我曾经送很多病患前往AA，但本身还没有参与这类的取舍，因为我没有酗酒的问题。我及时掌握这个机会----让自己体会一个崭新的经验。

聚会的地点是本地的“青年会”，一间朴实的房间里，大约有十几位男人与几位女人，坐在折叠椅上。聚会的时间将近一小时，非常讶意地，他们似乎在谈论我的交易情况！

他们谈论着酒精，但只要把“酒精”换成“亏损”，他们的谈话内容完全适用于我。在那段期间，我的帐户净值还是像打摆子一样的起伏不定。当我离开“青年会”时，我知道自己处理亏损的方法应该如同AA处理酒精一样。

Are You Investing or Gambling? | Investopedia | Cory Mitchell

 Gambling is defined as staking something on a contingency — wagering money on something that has an uncertain and potentially negative outcome. However, when trading is considered, gambling takes on a much more complex dynamic than the definition presents. Many traders are gambling without even knowing it — trading in a way, or for a reason that is completely dichotomous with success in the markets.

In this article, we will look at the hidden ways in which gambling creeps into trading practices, as well as the stimulus that may drive an individual to trade (and possibly gamble) in the first place.

KEY TAKEAWAYS

• There are two common traits in those who exhibit gambling tendencies when trading.
• If a person trades for excitement or social proofing reasons, rather than in a methodical way, they are likely trading in a gambling style.
• If a person trades only to win, they are likely gambling. Traders with a "must-win" attitude will often fail to recognize a losing trade and exit their positions.

Hidden Gambling Tendencies

It is quite likely that anyone who believes they don't have gambling tendencies will not happily admit to having them if it turns out they are in fact acting on gambling impulses. Yet discovering the underlying motives behind our actions can help us change the way we make decisions in the future.

Before delving into gambling tendencies when actually trading, one tendency is apparent in many people before trading even takes place. This same motivator continues to impact traders as they gain experience and become regular market participants.

Social Proofing

Some people may not even have an interest in trading or investing in the financial markets, but social pressure induces them to trade or invest anyway. This is especially common when large numbers of people are talking about investing in the markets (often during the final phase of a bull market). People feel pressure to fall in line with their social circle. Thus they invest so as not to disrespect or disregard others' beliefs or feel left out.

Making some trades to appease social forces is not gambling in and of itself if people actually know what they are doing. However, entering into a financial transaction without a solid investment understanding is gambling. Such people lack the knowledge to exert control over the profitability of their choices.

There are many variables in the market, and misinformation among investors or traders creates a gambling scenario. Until knowledge has been developed that allows people to overcome the odds of losing, gambling is taking place with each transaction that occurs.

Contributing Gambling Factors

Once someone is involved in the financial markets, there is a learning curve, which based on the social proofing discussion above may seem like it is gambling. This may or may not be true based on the individual. How the person approaches the market will determine whether they become a successful trader or remain a perpetual gambler in the financial markets.

The following two traits (among many) are easily overlooked but contribute to gambling tendencies in traders.

Gambling (Trading) for Excitement

Even a losing trade can stir emotions and a sense of power or satisfaction, especially when related to social proofing. If everyone in a person's social circle is losing money in the markets, losing money on a trade will allow that person to enter the conversation with their own story.

When a person trades for excitement or social proofing reasons, it is likely they are trading in a gambling style, rather than in a methodical and tested way. Trading the markets is exciting—it links the person into a global network of traders and investors with different ideas, backgrounds, and beliefs. Yet getting caught up in the "idea" of trading, the excitement, or emotional highs and lows, is likely to detract from acting in a systematic and methodical way.

Trading to Win, and Not Trading a System

Trading in a methodical and systematic way is important in any odds-based scenario. Trading to win seems like the most obvious reason to trade. After all, why trade if you can't win? But there is a hidden detrimental flaw when it comes to this belief and trading.

While making money is the desired overall result, trading to win can actually drive us further away from making money. If winning is our prime motivator, the following scenario is likely to play out:

Taylor buys a stock they feel is oversold. The stock continues to fall, placing Taylor in a negative position. Instead of realizing the stock is not simply oversold and something else must be going on, Taylor continues to hold, hoping the stock will come back so they can win (or at least break even) on the trade. The focus on winning has forced the trader into the position where they don't get out of bad positions, because to do so would be to admit they lost.

Good traders take many losses—they admit they are wrong and keep the damage small. Not having to win on every trade and taking losses when conditions indicate they should is what allows them to be profitable over many trades. Holding losing positions after original entry conditions have changed or turned negative means the trader is now gambling and no longer using sound trading methods (if they ever were).

Is Investing Basically Gambling?

Investing is the act of committing capital to an asset like a stock, with the expectation of generating income or profit. Gambling, on the other hand, is wagering money on an uncertain outcome, that statistically is likely to be negative. A gambler owns nothing, while an investor owns a share of the underlying company. 

Is Gambling a Smart Way to Make Money?

Statistically, gambling is not a smart way to make money. The odds are against the gambler, with the house having a built-in mathematical advantage that grows over time. While it is possible to win a big payout, or to mitigate risk through selective playing based on research and odds, overall, most gamblers will end up losing money. 

Is It Better to Invest Than Gamble?

While both involve minimizing risk to reap rewards, an investor's odds are generally better than that of a gambler. That's because with gambling, the house has an edge, a statistical advantage over the gambler that grows the longer the person is playing. A gambler can still strike it big, but it's more likely the person will ultimately lose. Investing can yield great losses, but the stock market generally appreciates over time, and if you keep investing, the odds are generally in your favor, certainly more so than for a gambler.

The Bottom Line

Gambling tendencies run far deeper than most people initially perceive and well beyond the standard definitions. Gambling can take the form of needing to socially prove one's self, or acting in a way to be socially accepted, which results in taking action in a field one knows little about.

Gambling in the markets is often evident in people who do it mostly for the emotional high they receive from the excitement and action of the markets. Finally, relying on emotion or a must-win attitude to create profits—rather than trading in a methodical and tested system—indicates the person is gambling in the markets and unlikely to succeed over the course of many trades.

Burnaby central park | Oct. 29, 2023

Oct. 28, 2023

I took a walk around Burnaby central park, and then took some pictures. 

Weight: 205 lb 

I plan to lose 1 lb a week, and play more tennis, running and swimming. 

I also like to record my videos and upload to youtube.com, share my learning experience as a Canadian citizen. 

Friends | Chandler | Mathew Perry | Addiction struggles

 In 2018, Perry spent five months in a hospital for a gastrointestinal perforation. During the hospital stay, Perry nearly died after his colon burst from opioid abuse. He spent two weeks in a coma and used a colostomy bag for nine months. Upon being admitted to the hospital, doctors told Perry's family that Perry had a two percent chance of survival. He was connected to an ECMO (Extracorporeal membrane oxygenation) machine, which breathed for him.^[56]

Addiction struggles

Perry talking about the National Drug Control Policy program in 2012

Perry became addicted to Vicodin after a jet-ski accident in 1997, and completed a 28-day rehab program that year.^[58] His weight fluctuated over the next few years, dropping to 145 pounds (66 kg) due to pancreatitis.^[59] He entered rehab in February 2001 for an addiction to Vicodin, methadone, amphetamines, and alcohol.^[60][61] While filming Serving Sara in Texas, he suffered severe stomach pains and checked into Marina del Rey's Daniel Freeman Hospital. Perry later estimated he had spent $9 million to get sober.^[62] He revealed that due to his addiction issues, he did not remember three years of the time he was acting on Friends, between seasons three and six.^[63]

In 2011, Perry lobbied Congress as a celebrity spokesperson for the National Association of Drug Court Professionals in support of funding for drug courts.^[64] Perry received a Champion of Recovery award in May 2013 from the White House Office of National Drug Control Policy for opening Perry House, a sober living home in his former mansion in Malibu, California.^[65][66] Perry relocated the rehab center in 2015.^[67]

How To Buy Stocks: 4 Factors For Finding Quality Trade Ideas

 Here is the link. 

Knowing how to buy stocks means knowing how to separate the quality opportunities from the junk. This buying checklist gives us the key criteria for spotting true golden leaders.

• Both Market and stock are in uptrend
• Checklist item No. 2: Stock shows signs of institutional support
• Checklist item No.3: Stock is part of a leading industry group
• Checklist item No.4: String earnings and sales growth

How To Buy Stocks: Trading Around A Core Position

Here is the link. 

Knowing how to handle a stock over long periods of time is an invaluable investment skill and a key aspect of how to buy stocks. Here's how to trade around a core position and manage through the ups and downs.

Position sizing within an industry group

• Target multiple stocks in a single industry group
• Start two or three stocks at half or quarter
• Add to the outperformer that proves itself

William O’Neil Trading Rules | Trading rules | My favorite | Rules to remember | 2024

#tradingrules #IBDDigital #IBDStopLoss #IBDFindStock #IBDAddPositionRule #IBDRules #IBDBible #IBDTradingRules

William J. O’Neil is one of the greatest stock traders of our time, achieving a return of 5000% over a 25 year period.

He uses a trading strategy called CANSLIM, which combines fundamental analysis, technical analysis, risk management and timing.

You can learn this exact trading strategy in his best selling book, How To Make Money In Stocks: A Winning System in Good Times and Bad.

His financial successes led him to:

• Open a brokerage firm, the William O’Neil & Co.
• Founded a national financial daily newspaper called Investor’s Business Daily.
• Became the youngest person to buy a seat on the New York Stock Exchange.

23 William O’Neil Trading Rules, That Will Make You a Better Stock Trader 

By Rayner Teo

In case you’re wondering:

What is the William O'Neil CANSLIM trading strategy?

CANSLIM is an acronym and stands for:

• C: Current quarterly earnings per share (up at least 25% vs. year-ago quarter).
• A: Annual earnings increases at a compound rate of no less than 25%.
• N: New products, new management and new highs.
• S: Supply and demand. Stocks with small floats experience greater price rises, plus big volume demand.
• L: Leaders and laggards. Keep stocks that outperform and get rid of the laggards.
• I: Institutional ownership. Follow the leaders.
• M: Market direction. Three out of four stocks follow the trend of the market. When the intermediate trend is bearish, don’t invest.

23 Trading Rules That Will Make You a Better Stock Trader

1. Don’t buy cheap stocks. Buy Nasdaq stocks mainly selling between $15 and $300 a share and NYSE stocks from $20 to $300 a share. Avoid the junk pile.
2. Buy growth stocks that show each of the last three years annual earnings per share up at least 25% and the next year’s consensus earnings estimate up 25% or more. Most growth stocks should also have annual cash flow of 20% or more above EPS.
3. Make sure the last two or three-quarters earnings per share are up a huge amount. Look for a minimum of 25% to 30%. In bull markets, look for EPS up 40% to 500% (The higher, the better).
4. See that each of the last three-quarter’s sales is accelerating in their percentage increases, or the last quarter’s sales are up at least 25%.
5. Buy stocks with a return on equity of 17% or more. The best companies will show a return on equity of 25% to 50%.
6. Make sure the recent quarterly after-tax profit margins are improving and near the stock’s peak after-tax margins.
7. Most stocks should be in the top five or six broad industry sectors.
8. Don’t buy a stock because of its dividend or P/E ratio. Buy it because it’s the number one company in its particular field in terms of earnings and sales growth, ROE, profit margins, and product superiority.
9. Buy stocks with a relative strength of 85 or higher.
10. Any size capitalization will do, but the majority of your stocks should trade an average daily volume of several hundred thousand shares or more.
11. Learn to read charts and recognise proper bases and exact buy points. Use daily and weekly charts to materially improve your stock selection and timing. Buy stocks that initially breakout out of sound and proper bases with volume for the day 50% or more above normal trading volume.
12. Carefully average up, not down, and cut every single loss when it is 7% or 8% below your purchase price with absolutely no exception.
13. Write out your sell rules that show when you will sell and nail down a profit in your stock.
14. Make sure your stock has at least one or two better-performing mutual funds who have bought it in the last reporting period. You want your stocks to have increasing institutional sponsorship over the last several quarters.
15. The company should have an excellent new product or service that is selling well. It should also have a big market for its product and the opportunity for repeat sales.
16. The general market should be in an uptrend and either favour small or big cap companies.
17. The stock should have ownership by top management.
18. Look for a “new America” entrepreneurial company rather than laggard, “old America” companies.
19. Forget your pride and ego; the market doesn’t know or care what you think. No matter how smart you think you are, the market is always smarter. A high IQ and a master’s degree are not guarantees of market success. Your ego could cost you a lot of money. Don’t argue with the market, and never try to prove you’re right and the market is wrong.
20. Watch for companies that have recently announced they are buying back 5% to 10% or more of their common stock. Find out if there is new management in the company and where it came from.
21. Don’t try to buy a stock at the bottom or on the way down in price, and don’t average down (If you buy at $40, don’t buy more if it goes to $35 or $30).
22. If the new appear to be bad but the market yawns, you can feel more positive. The tape is telling you that the underlying market may be stronger than many belief. On the other hand, if highly positive news hits the market and stocks give ground slightly, the tape analyst might conclude the underpinnings of the market are weaker than previously believed.
23. 37% of a stock’s price movement is directly tied to the performance of the industry group the stock is in. Another 12% is due to strength in its overall sector. Therefore, half of a stock’s move is due to the strength of its respective group.

10 common mistakes most traders make

1. Stubbornly holding onto losses.
2. Buying on the way down in price.
3. wanting to make a quick and easy buck.
4. Buying on tips, rumors, split announcements, and other news events, stories, or opinions you hear from supposed market experts on TV.
5. Selecting second-rate stocks because of dividends or low P/E ratios.
6. Buying because of old names you’re familiar with.
7. Being afraid to buy stocks that are going into the new high ground in price.
8. Cashing in small, easy-to-take profits while holding the losers.
9. Not being able to make up your mind when a decision needs to be made.
10. Concentrating your time on what to buy and once the buy decision is made, not understanding when or under what conditions the stock must be sold.