Poker teaches you something: How have the last laugh in the investment community even holding gambling mentality into the investment community, it was the 'gambling operation' is better than the average person. Why do some professional 'gambler' did better than usual? Because professional gamblers understand the probability of success for each gamble, whereby assessment bet accordingly. They know when to bet all, when to withdraw leave. If they do not pay Wynn? Of course not, but they understand how best to control the damage as much as possible to survive a little longer, becoming the last laugh winner. i dark horse share this article, STA Wealth Management experts summarizes the experience of ten cards, let's look at what the reference of the voice of experience. 1, to occupy an advantage. Well-known fund manager Peter Lynch (Peter Lynch) said: Whoever is not any research on the investment, it is like play than the card size of stud poker, but never see light what cards. Words of great poker experts and the general difference is that the former is more calm, the latter is more emotional, and more expertise without the former.
Financial markets are a big gamble on a plate, experts will use those who are too emotional and not make calm decisions, or those who have enough information at hand because it can not be assured of receiving the decision calmly. 2, in more than one field development expertise. In the financial markets, and occasionally win and win often difference is that the ability to adapt to changing market conditions. No single investment style has always been popular year after year. So we can understand, whoever is based on the past performance of a mutual fund investment to follow suit, often become 10--20 years most investors fail. Flexibility is the cornerstone of long-term investment success, unwilling to adapt to the situation and change of investor doomed die. If we can have a process like for all types of applications that take-all operating system, you can stand by the weak profitability wrong. 3, to find someone and you reverse bet reasons. If there is something that must be remembered, and that is basically 'we know nothing about.' We can certainly determine how a company's business today, it is likely how the coming months, even after the company's stock price to rise or fall. Can generally speaking, we know enough, because we have been closer to the ignorant, but not omniscient. We really can do is to develop and implement a plan to face reality, to avoid the possibility of falling into the trap. "shinigami cosplay " A company's profitability is clearly on the rise, the stock was in decline, most investors can not accept such a thing, it is impossible to understand. At such times, to know what is 'unknown' is crucial. We must remember that there are people opposite each transaction, each of the sellers are sure buyers. If not, the price will fall until the buyer appears, in line with supply and demand balance of simple truth. However, we can not expect to get information with their counterparties almost. You have a reason to sell, he has reason to buy, and technical analysis is only a record of the way buyers and sellers showdown. When playing poker, you might have a few on hand A, I think we should rely on these few trump card, but your counterparty often have their own reasons for that match your rear projection considerations.
Poker kind of practice called the 'checked', the investment community call this hedging, no matter how called, are in the form of risk management. In short, do not think he was the smartest person in the game. If the price is consistent with your goals, you have to willing, willing to lighten up; when the stock began to fall, you have to start into a defensive strategy; the reason when you buy the stock changes, ceased to exist, you must be willing to take the initiative to call stop, eliminate their own risk. 4, when the most favorable as possible to earn more. When playing Texas Hold'em, if you feel the wind along hand, you can bet all the chips are on hand. Of course, there are risks to do so, if the spot position players out call, you lose. When investment, you may encounter the environment to their advantage, such as the market oversold, the "kino no tabi cosplay " market panic or a low valuation. In that case the possibility, if heavily loaded with some stock, equivalent to a return in excess of the loss of 'risk', because the situation in your favor. The biggest mistake many investors make today is that no matter what the market environment, they are constantly risking all to put all the chips. 'Risk' is nothing but reflects how much money will be lost when you make a mistake, it's not a non-problem, the loss is certainly there, but when it occurs. 5. checked often pay cosplay costumes for sale the price. \u0026 Amp; 6, know when to retreat, put your chips are cashed. Speaking of checks, if you have friends like to see 'God of Gamblers' like the film, I am afraid, the brain make such a lens: a 'God of Gamblers' with falcon eyes glanced around several opponents before the call, then The hands of poker aside, casually spit out the word 'not with.' If you have a picture that is not enough light, we find the first soundtrack. In the late 70s pop song called The Gambler (can be understood as 'gamblers'), premiere Kenny Rogers (Kenny Rogers), which has so few lyrics: Dude, if you come to gamble, have to learn to play the right, you have to know when to bet, when to fold, when to leave, when adding a new hand. ...... Now every gambler knows that the secret to live - know what you want to give up what you want to keep. Because each hand there are people who lose someone to win, the best result you can expect is to be killed in their sleep.
For individual investors, the song is definitely the toughest. Your portfolio is equivalent to that 'hand' when playing poker. Total Sometimes, you have to get rid of some bad card hand (loss positions), with some promising more powerful cards replace them. Even so, sometimes they could not get rid of their overall unfavorable situation, it must leave the. This is why some of the risk management measures with a portfolio in the reason, to long-term success, they are essential. For most people feeling totally different preferences, actions should be taken not to take, such as: buy when they throw; knowing that a loss has insisted on holding some positions, hoping to win back their money; some of the positions in the profit and selling too fast; complete with spur of the moment, not based on logical analysis to action, make more mistakes. Whether gambling or investment, emotional players always lose that. If a poker analogy, most investors make the mistake that they had in poker, but no rational good hand. Because most people are later invested by news newspaper, television or other media obtained, which is equal to gambling nowadays basically left after injection tables, Wynn began to expect their brand marketer, this is called 'post-purchase hold 'strategy. A good investor must develop a risk management ideas, which is sold rules. To implement successful investment strategies, but also requires a combination of a set of tools for risk management. When making investment decisions, if you put aside emotional tendencies, the probability of success will be greatly enhanced. In full accordance with the rules of an investment strategy, as professional poker hand, as in his own hand on the outlaw.
As a result, face a rapidly changing investment environment, you will be able to successfully take action and respond. Sell signal, trends, pre-determined exit strategy will let you have the opportunity to give up before the loss of the expansion fold. 7, to understand their own strengths and weaknesses. \u0026 Amp; 8, if you can not concentrate on the task at hand to treat, it is rest from. Two-time World Series of Poker (WSOP) winner Dolly Brunson (Doyle Brunson) was used to take his portion bible of poker players work 'Super System' (Super System) joke. He said that in finalizing the 'Super System' is the name of two titles before his thought: First, 'How do I use to play poker to earn one million US dollars,' the second is 'how to play golf so I lose millions of dollars.' There is no doubt that since you are good in some ways, it will certainly be part of it in other aspects of police. Many investors think they can manage their own money effectively, in fact, as long as the bull run, it is likely they are right. And this idea is tantamount to only one player sitting at the poker table, all the cards are issued by the dealer spread out for everyone to see. Maybe you're still losing money this hand, but then it might win.
Emotional factors will enable us to focus on those things no impact on transactions above. Short-term traders often rely on their own set of statistics methods have advantages profits over a period of time. Emotional factors can make this advantage aliasing, over a period of time will produce countless trade barriers, some of the obstacles almost enough to make those massive hedge fund gutter capsize. Well-known investors, 'the stock of short-term tactical OX' (Point and Figure Charting), author Tom Dorsey (Tom Dorsey) just cited an example: One might assume that if someone play a coin toss with the pros and cons you guess, guess positive than negative high bonuses. Logically speculate, we will guess positive. Only a logical result, anyway, is to guess the result is positive. But emotional problems may dictate your choice. You will recall that the last guess himself on the front or professional American Football League in 1958 at Yankee Stadium in the (NFL) championship. At that time, you optimistic about the Giants, when overtime guess is positive. As a result, not only the coin toss guess pros and cons you lose that game, the Giants eventually lost to the legendary NFL Hall of Fame quarterback Johnny Unitas (Johnny Unitas) led the Colts team.
That probably guess pros and bet the game will make you miss forever missed, but it should not be for you now guess coin have any effect. Nevertheless, we are all mortal flesh, are likely to doubt everything logical idea, but some people suspect heavier. This may explain why only a handful of people in the world can become a poker expert, there are too many people willing to Las Vegas to contribute to prosperity. Most people prefer the possibility to dream of overnight riches take their money to risk, but few trade-offs when investing success and failure stack up. If you can not successfully manage its long-term funds, it will be like about 80% of investors unable to extricate themselves bogged down as a loss. Best candid face their own problems, started to take to increase their own chances of success of the method. Every day we may be faced with thousands of copies of research reports, analysis views, television and radio articles, controversy, how do you determine what is important and what is not important? This is a professional poker player and the difference between the average person.
Professionals may be able to understand the blink of an eye the Board, to determine when the call and when to fold. 9, have patience. Patience is not easy. Most investors invest on a hope to get an immediate return. It can be a real investment needs for years, even decades, to produce real results. More importantly, the same as playing poker, you will not win every hand, sometimes turbid water are likely to stick to your teeth. No kind of investment law is always efficacious. But if your criteria is tricky, we should stick to it, be patient, and ultimately long-term success. Remember the late 1990s, the media Nabafeite do not accept the new technology say things. In fact, Buffett does not accept some of the new generation of technology related companies because he did not understand its valuation, it is meaningless to him. Even temporarily underperform the performance, he insists his approach. Ultimately, the principle of the return of Buffett's harvest, because it is a sound investment law, are based on long-term adherence before he has the patience to win. 10, to understand their true motives. Why are you trying to personally manage their own money? Are you like that? Have you ever met that target to chase on the excitement, was defeated on angry syndrome?
Or are you not feel that they should manage their funds? More Problems are good, so you probably asked yourself before, you may already have a well thought out answer. But you have to ask the real question should be: I have not succeeded in managing my family's future and their retirement for a real player, a gambling casino, but is a particular event occurs, or a part of life experiences? . Gambler, average investors either do not know what they are doing, or like singing a different tune with the goddess of fortune. Excellent poker hand, investment advisers as excellent riders: they find value, using their own advantages, tap obscure the truth, and expected their competitors did not pay attention to those facts. They manage risk, because it requires outstanding performance in return. They like sports, like knowledge of. Such people should be called craftsmen, should call them gamblers.