Even when there arent much positive fundamentals to promote stocks the ads on the Internet claim various stock-picking strategies, options, or Forex currency trading is the answer. Nothing is the answer other than working on your decision- making hang-ups. All that means is considering your emotions and having a plan to deal with them to keep you out of trouble. Tharp(y) keeps going with his workshops on ETFs attempting to attract those over-thinking intellectual traders all youll really get from his seminars is him asking you to look at yourself:
1. Ask yourself what psychological tendencies have sabotaged your investment returns. If you dont understand your patterns you are doomed to repeat them.
2. Write down your beliefs about investing, then draw up a detailed investment strategy based on those beliefs.
3. List everything that could go wrong with your plan. Then, rehearse how you would deal with these catastrophes.
4. Get your excitement from other activities, not the stock market.Thats a recurring theme with his students
they like being a part of the investment or trading process, because theres an element of action. They dont think in terms of making a huge sum of money from one great investment. Why pay thousands of dollars for something when I can give you the overview of the process used at the workshop?
1. Personal responsibility for results
2. Thoroughly prepared
3. Disciplined psychology
Know the average profit per trade per dollar risked.Know your system – different forms of money management to achieve objective.
From an advertisement:
Most people are doing the exact opposite of what the big funds are doing and they pay a big price for doing so. For example, you put money into a stock after hearing that a fund manager really likes it. However, by the time you do, the fund manager is getting ready to sell. But what if you could see what the big mutual funds are doing with their money well before they complete a transaction so you could jump in ahead of them? (Its called front running.)It would be a huge advantage.For example, if mutual fund managers are buying retail stocks, you would be able to get into those stocks well before they get in and profit greatly as their activity drives prices up. Imagine what an advantage you would have over other investors. And we are going to show you exactly how to do that. (I dont believe that.) Suppose that you are managing a mutual fund and you need to move a billion dollars out of retail stocks into Internet stocks. You do not just tell your broker to sell a billion dollars worth of stock.Instead, you must give an order to a large brokerage firms that basically says, You have three days to get rid of this stock
we would like to get at least $998 million for the stock. If you can get more than that, you may keep the extra as your bonus commission. The market then slowly sees a movement out of retail stocks. And as one fund moves out, another may see the big picture and start to move out as well, thus making the underlying movement even stronger.Furthermore, as the movement out of retail stocks gets underway, the same fund manager may give instructions to buy a billion dollars worth of Internet stocks, and the broker may have a week to fill that order. Gradually, you would see retail stocks moving down and Internet stocks moving up as one or more big funds shifts positions.And the net result is that the internal conditions of the stock market shift even though the major averages may not move that much. What is interesting for you is that you can learn to see the overall shifts in cash flow as the funds start to move money around. In fact, you can spot it quickly. And you could have a huge advantage because big money tends to move slowly, but you can move quickly. In fact, when you get good at observing the flows of funds, you can start making thousands of dollars each day at your convenience. (At my convenience? What a sales pitch! Im not buying into it.)It is not that hard. We will show you just how to do it in this and teach you how to jump in front of the big guys in their trades. (Not difficult? People I dont know what to make me rich in the stock market? Whats in it for them? Oh right, the overpriced fees of the seminar! Im not interested.)
