“Nobody should be puzzled as to whether a market is a bull or bear market after it fairly starts. The trend is evident to a man who has an open mind and reasonably clear sight, for it is never wise for a speculator to fit his facts to his theories.”

Jesse Livermore

3 Quotes this time ->

“With the monetary system we have now, the careful saving of a lifetime can be wiped out in an eyeblink.”

Dr. Larry Parks

“It is natural for man to indulge in the illusions of hope. We are apt to shut our eyes against a painful truth, and listen to the song of that siren till she transforms us into beasts… For my part, whatever anguish of spirit it may cost, I am willing to know the whole truth, to know the worst, and to provide for it.”

Patrick Henry

“If the truth is that ugly — which it is — then we do have to be careful about the way that we tell the truth.
To say somehow that telling the truth should be avoided because people may respond badly to the truthseems bizarre to me.”

Chuck Skoro Deacon, St. Paul’s Catholic Church

It seems I managed to get back to breakeven with the demonstration account (okay there are some negative open positions ,but this problem should be solved within the next week and End with about 8%+ IFmy plan works out).

It was an hard struggle..especially to loose around 25% in the first weeks ..but i kept it up and will add more gains in the future. I hope this shows anyone interested in trading that u should never judge your performance in days or weeks..u need months of trading ur strategy to see if it works or not..DON’T GIVE UP EARLY BECAUSE U HAD SOME BAD WEEKS as 75% of new traders do! This profession needs years of sweat & blood !

Here my favorite trading quote for such loosing streaks ->

“My centre is collapsing, my right is in retreat. Situation excellent: I attack!”

Marechal Foch, Battle of the Marne

And I KNOW i did not update anything yet on the empty blog pages ;)

Time will come for this!

Have a great weekend!

Analyzing my “watchlist” ( 4 posts ago) I was right on all of them besides aud/cad (which did not go anywhere)..even if i could only squeeze 60pips from the EUR/USD movement..but the longterm trend for gold and eur/usd are up so I am happy with what i got!

The Short squeeze in equitites especially Dow Jones and DAX over the last 4days was VERY tradeable ..gosh..i should start trading those sometime in the future..!

“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Eduction alone will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

- Calvin Coolidge

“At the beginning of the eighteenth century, fifty years before the time of Quesnay, Bandini of Sienna had shown, both from reason and experience, that there never had been a scarcity of food, except in those countries where the government had itself interfered to supply the people.”

-Jean-Baptiste Say, Treatise on Political Economy

“Was shorting the Argentine peso your favorite trade of all time?”
“No. I don’t have a favorite trade of all time. My favorite trades are when I’m wrong and get out without losing too much money.”

Anonymous, Currency Fund Manager, London

Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets. (Wiley, 2006).

“There is nothing like losing all you have in the world for
teaching you what not to do. And when you know what not to do in
order not to lose money, you begin to learn what to do in order
to win. Did you get that? You begin to learn!”

Jesse Livermore , “Reminiscenes of a Stock Operator”

“Thievery and covetousness will persist and grow, and the basic morals of ourselves, our children, and our children’s children will continue to deteriorate unless we destroy the virus of immorality that is embedded in the concept of the Welfare State; unless we come to understand how the moral code of individual conduct must apply also to collective conduct, because the collective is composed solely of individuals.”

-F.A.Harper

“There are always a few, better endowed than others, who feel the weight of the yoke and cannot restrain themselves from attempting to shake it off… These are in fact the men who, possessed of clear minds and far-sighted spirit, are not satisfied, like the brutish mass, to see only what is at their feet, but rather look about them, behind and before, and even recall the things of the past in order to judge those of the future, and compare both with their present condition. These are the ones who, having good minds of their own, have further trained them by study and learning. Even if liberty had entirely perished from the earth, such men would reinvent it. For them slavery has no satisfactions, no matter how well disguised.”

-Etienne de la Boetie (’The Discourse of Voluntary Servitude’)

“A country may be governed with justice,

And a war may be won with cunning,

But people can only be mastered by following them.

How can this be known?

By looking!

The more people are controlled, the poorer they become;

The poorer they become, the more restless they get;

the more restless they get, the more forcefully they are restrained.

 When people are forcefully restrained, their defiance becomes ingenious.

And the more ingenious their defiance, the stranger are the things that happen.

 Now when strange things begin to happen, laws and regulations become stricter;

Then stricter laws and regulations mean more criminals and fugitives.

Soon everyone is either a criminal or a fugitive,

And no one can untangle the mess.

 Therefore,

The sage does nothing and people govern themselves,

Provokes no one and people are peaceful,

Does not interfere and people prosper,

Is without desire and people fulfill themselves.

The more people are controlled, the less contented they become.

But when will leaders understand the significance of this?”

– Lao Tzu, tr. Ray Grigg; stanza 57-58 (trad.), 20-21 (MaWangTui)

“You may think that since it was all a delusion on the profit side, the loss also must have been imaginary; that if nothing was added to the wealth of the country, neither was anything taken away. But that is not the way of it. First there was the direct loss of diverting that credit from all the possible uses of production to the unproductive use of speculation. Secondly, a great deal of it was consumed by two to three million speculators, large and small, who, with that rich feeling upon them, borrowed money on their paper profits and spent it. In this refinement of procedure what happens is that imaginary wealth is exchanged for real wealth; and real wealth is consumed by those who have produced nothing in place of it. Thirdly-and this was the terrific loss-the shock from the headlong fall of this pyramid caused all the sensitive sources and streams and waters of credit to contract in fear. The more they contracted the more fear there was, the more fear the more contraction, effect acting upon cause. The sequel was abominable pain.” Garet Garret, The Bubble That Broke The World, 1932