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The oldest share in the world

History: Opening of the sea route to India – once the name, given in India, Asia Minor and all of Southeast Asia – in the House of the sailor Vasco da Gama 1499 established Portuguese colonial authority in the Indian Ocean. During the next 100 about years 200 flights were around the Cape of Good Hope to the east. The main motive was originally in the spice trade, but about 1600 other goods, trade was discovered in the east and they took a more prominent place, than in the spice trade. Only about half of all ships, which were sent, mainly, Portuguese and Dutch are all back. Atlantic expeditions thwarted the Ottoman Empire, which blocked access to the eastern Mediterranean for Western Europe. They were also the reason for subsequent alliances and the East India Company.. IN 1580 G. the two great maritime powers Spain and Portugal have merged.

Perception of loss

Quite a few books and articles have been written about, how to make money in the markets. Some of them are even written by people., who made money themselves as traders! but, you do not often see books or articles dedicated to this, how to properly lose money when trading. “Cut your losses and let your profits grow” is the most common advice. How to define, when the position becomes losing? Interesting, but most traders, whom I knew, could not clearly formulate the answer to this question, when you opened your positions. They focused on entering, but then, did not have a clear idea of the exit especially, if this exit was in the "red zone". I am convinced, that one of the real problems is the difficulty of traders to separate the reality of a loss in a particular trade from the psychological perception of oneself as a loser. At a certain level of their development, many traders equate trading losses with personal failure. It upsets and depresses them, making them uneasy. Eventually, it affects their future decisions, because their gains and losses become arguments against their self-worth. As soon as a trader starts to focus on himself, instead of concentrating on the market, distortions in trading decisions become inevitable.

Thomas R.. Demark / Thomas R. DeMark

Trader and Consultant Tom DeMark (Tom DeMark) recently invented dozens of original technical indicators and relies solely on technical timing principles in his research and trading. He even signed up for the CFA program once. (certified financial analyst - certified financial analyst), but decided not to go through it to the end. “Markets in the long term are characterized by basic. But my indicators measure psychology - that's what, what does technical analysis do ", - Demark explains. DeMarke's first immersion in the world of finance occurred after graduating from graduate school in two specialties - business and legal, after which, in the early 70s, he was hired as a fundamental analyst at the National Investment Service, located in Milwaukee (PCS. Wisconsin). The firm managed pension assets and assets with a joint profit of about 300 million. Doll., investing mainly in securities and fixed income shares. The strength of the National Investment Service was in timing. Demark, however, this is how he remembers his first job: “I was a professional errand boy. I was the lowest in the company, but rose quickly, because he knew how to choose the time for operations ".

Stephen Cohen / Steven Cohen

Stephen Cohen grew up in Great Neck, New York State, in the family of a clothing manufacturer and a piano teacher. The family was big and noisy. Cohen thinks, that it was here that he learned to concentrate on the main. And in cards, and at school Cohen did well. “In the mornings, he often had bundles of hundred-dollar bills on his desk.”, – recalls Donald, 47-summer accountant from Florida. “I've learned to take risks through poker”, – says Cohen. At the University of Pennsylvania he studied economics, played poker and became interested in the stock market. He opened an account with a brokerage firm Gruntal and put there $7000, intended for tuition fees. At the brokerage office closest to the hostel, he followed the market and, thanks to several transactions, earned enough, to pay all bills. IN 1978 G. Cohen took a job at Gruntal, where on the first day I earned for the company 8 000 $. Ultimately Cohen did approximately 100 000 $ a day for the company, to 1984 he managed a portfolio in $75 million and a group of six traders. There were transactions on his account, who helped Gruntal cover losses, incurred due to transactions of other traders. IN 1992 G., left Gruntal, Cohen opened a hedge fund, investing there $20 million own funds (today the firm manages more than 12 billion $). IN …

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Price action - pattern 1-2-3

I really like this price action model. I often use it in my trading. Conditions: breakout of a trendline lower top in an uptrend, or higher bottom in a downtrend price passage below the previous bottom in an uptrend, or above the previous top in a downtrend At a point 3 reversal is confirmed. I put a stop above / below the point 2 […]

Richard Dennis / Richard Dennis

Richard Dennis, also known by the nickname "Prince of the Pit", born in Chicago, in January 1949. Early 1970s, he borrowed several thousand dollars and ten years later turned them into 200 million dollars. When a futures fund, run by Denis, suffered significant losses during the fall of the stock exchange 1987 of the year, he retired from trade for several years. Dennis started as a messenger on the trading floor of the Chicago CME Exchange in 17 years. Several years later, he began trading mini-contracts for his own account on the Mid-America Commodities Exchange.. After a series of successful deals, Denis bought a seat on the much more expensive Chicago Board of Trade. To get around the age limit, Richard worked as his own messenger and gave requests for execution to his father, who stood on his site in the "pit".

Paul Tudor Jones / Paul Tudor Jones

Paul Tudor Jones II was born 28 September 1954 years in Memphis, Tennessee, USA. Paul Jones graduated from the University of Memphis, and later at the University of Virginia, he received a degree in economics. IN 1976 year quite successfully participated in the boxing championship in welterweight. He started his business career at 1976 year from the position of a clerk and soon grew to a broker at E.F. Hutton». With 1980 for two and a half years Paul was an independent trader. Then he went to Harvard Business School, but soon realized, something, what is taught in this school is not the same knowledge, which he wants to get. Therefore, he abandoned the idea of further education and asked for support and advice from his relative, William Danawant., specialized in cotton trade. William Danavant sent him to New Orleans, what would Jones talk to and big broker Eli Tallis, who offered him a pretty good job. Jones begins trading cotton futures on the New York Cotton Exchange.

ECN – Electronic Communication Network

Electronic Communication Network (ECN) - an electronic system for the implementation of transactions for the purchase and sale of exchange commodities, which tries to eliminate the role of intermediaries. ECN connects leading brokers and individual traders with each other, so they can trade directly, bypassing the exchange mechanisms of intermediaries. Content : Introduction History of ECN Regulation ECN Feature Description Advantages of ECN Source of income ECN Disadvantages of ECN ECN Commission The most profitable routes […]

Nassim Nicholas Taleb / Nassim Nicholas Taleb

Born Nassim Nicholas Taleb in 1960 year, in the Lebanese city of Amioun. His family professed Orthodoxy. During the civil war, which began in 1975 year, they were deported. Father of Nassim Nicholas, Dr. Taleb was an oncologist, did anthropological research. Among his ancestors are politicians, representing the interests of the Orthodox community of Lebanon. So his maternal grandfather and great-grandfather were deputy prime ministers of Lebanon, paternal grandfather served as Chief Justice, and also in 1861 his great-great-great-great-grandfather served as governor of the semi-autonomous Ottoman province on Mount Lebanon. Taleb has held senior positions in brokerage firms in London and New York, and also worked on the stock exchange, before starting his own hedge fund company Empirica LLC (futures and options sales). He received his Master of Business Administration degree (MBA) At Wharton School and defended his Ph.D. thesis at the University of Paris. Author of "Dynamic Hedging" and "Fooled by Randomness".

Nicholas Leeson / Nicholas Leeson

Few things happened in the 1990s, who excited the world just as much, like the collapse of British bank Barings at the end of February 1995 of the year. What shocked the most was, that the bank, whose history included 233 of the year and who was entrusted with their money by representatives of the aristocracy and the royal family, collapsed as a result of overt and covert speculation by a single person - 28-year-old trader Nicholas Leeson (Nicholas Leeson). His self-confidence and passion for risk taking, as well as the greed and stupidity of his bosses, That, admiring the "sky-high" profits, turned a blind eye at the subordinate's scams, deprived the bank 850 million. pounds, killing the investment empire overnight, whose strength seemed unshakable. The story of the Barings collapse is extremely instructive, because it is not only the “quintessence of morality” of modern financial markets, but also a clear picture of that, What are the dire consequences of ineffective financial risk management?. IN 1996 year, being in prison on charges of forgery and deception, Leeson publishes his autobiography "Rogue Trader" ("Rogue trader"), where he spoke in detail and frankly about his deeds.

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