Dump it Here

[Skate]

The Interplay of Beliefs and Thinking in Trading Success
@Chipp, our “belief system” and “the way we think” are two sides of the same coin, driving our actions and decisions. This is particularly true in trading, where our thought processes and perceptions significantly impact our success.

Even when we’re not aware of it, our belief framework - or “the way we think” - is constantly at work. As a strong advocate for education and the sharing of beneficial information, I’ve observed that ultimately, it’s people’s beliefs that dictate whether they accept or reject new ideas.

While some individuals maintain an open mind and are willing to consider alternative perspectives, others may have a closed mindset, rejecting anything that challenges their existing beliefs.

Skate.

 

[Skate]

The Importance of Open-Mindedness in Trading
It’s crucial to remember that if something resonates with us, it can significantly influence our trading outcomes. Therefore, maintaining an open mind and being receptive to new ideas and information, even those that challenge our existing beliefs, is essential. By doing so, we can continually refine our strategies and improve our chances of success in trading.

Skate.

 

[Skate]

" Most "

@Chipp, that's a fair comment. I should have thought about my 'Quote of the Day' a little longer before shooting from the hip and posting it. In a nutshell, I was trying to relay that our perceptions and our belief systems play a crucial role in shaping our thought process, which in turn, significantly impacts our trading success. It's not just about opinions but how we perceive and interpret that information.

Revised
It’s worth noting that a significant number of individuals often struggle to distinguish between facts and opinions.

Skate.

 

[divs4ever]

View attachment 173107

Skate.

actually i have difficulties discerning the differences between official data and political desires

... so if those facts are based on 'official data ' .....

 

[Chipp]

The Interplay of Beliefs and Thinking in Trading Success
@Chipp, our “belief system” and “the way we think” are two sides of the same coin, driving our actions and decisions. This is particularly true in trading, where our thought processes and perceptions significantly impact our success.

Even when we’re not aware of it, our belief framework - or “the way we think” - is constantly at work. As a strong advocate for education and the sharing of beneficial information, I’ve observed that ultimately, it’s people’s beliefs that dictate whether they accept or reject new ideas.

While some individuals maintain an open mind and are willing to consider alternative perspectives, others may have a closed mindset, rejecting anything that challenges their existing beliefs.

Skate.

Was about 15 years ago i actively made it a goal to become a critical thinker , its not something that can be changed quickly but it def can be . Busy with open atm so will address this later

 

[Skate]

actually i have difficulties discerning the differences between official data and political desires

... so if those facts are based on 'official data ' .....

@divs4ever, while humans possess a unique ability to discern fact from fiction, this skill becomes notably challenged when trading. In this context, the mind often struggles to differentiate between facts and opinions, elevating the complexity to a whole new level.

In today’s information age, it’s becoming increasingly challenging to discern the truth in what we read. With numerous sources presenting their own versions of facts and information. I have to agree with you, it can be quite a task to separate the wheat from the chaff.

Skate.

 

[divs4ever]

although i don't actually 'trade '

i do watch analyst/broker reports and commentators for hints the market ( or stock ) will move , if yes there is a move which way and is it far enough ( for me to take advantage of ) if yes i can place a 'dream order ' in early ( and cancel if i get it wrong )

 

[Skate]

although i don't actually 'trade '

i do watch analyst/broker reports and commentators for hints the market ( or stock ) will move , if yes there is a move which way and is it far enough ( for me to take advantage of ) if yes i can place a 'dream order ' in early ( and cancel if i get it wrong )

Deciding impulsively to take a break from trading may not have been my wisest move, yet curiosity got the better of me. I’ve decided to dedicate a year to dividend investing aiming to ascertain whether retirees can earn a sustainable income solely from dividends and franking credits.

Trading, I must admit, imparts a sense of value as it feels like you’re earning your keep. The challenge lies in accepting that despite the hard work and countless hours invested, achieving improvements can be a daunting task. That being said, the process of system development is undeniably addictive.

Skate.

 

[divs4ever]

Deciding impulsively to take a break from trading may not have been my wisest move, yet curiosity got the better of me. I’ve decided to dedicate a year to dividend investing aiming to ascertain whether retirees can earn a sustainable income solely from dividends and franking credits.

Trading, I must admit, imparts a sense of value as it feels like you’re earning your keep. The challenge lies in accepting that despite the hard work and countless hours invested, achieving improvements can be a daunting task. That being said, the process of system development is undeniably addictive.

Skate.

time will tell whether the choice was wise in 2024 , had the choice been made ( with the same stocks ) in 2020 you might be firmly decided ,

think FMG and WPL ( now WDS )

now 'living on divs' income will largely depend on the retiree's budgeting skills rather than 'growing income ' in my opinion

rising expenses look to be the great unknown

 

[Skate]

Life is all about commitments
Adhering to a personal commitment comes naturally to me, especially after a profound conversation with my son about smoking.

I asked him, “Why don’t you quit smoking? It has serious long-term health implications.”

No sooner had I finished my sentence than he replied, “I would Dad, but I’m not a quitter.”

His response made me realise that he truly is a chip off the old block.

Skate.

 

[Chipp]

Smokers are not critical thinkers critcal thinkers are open to change , they pursue it . The pursuit of truth , i became a psudeo amatuer quant after becoming a critical thinker , best thing i ever did .

 

[Skate]

Smokers are not critical thinkers critcal thinkers are open to change , they pursue it .

@Chipp your statement “Smokers are not critical thinkers” is a generalisation. Critical thinking is not determined by a person’s habits, such as smoking, but rather by their ability to reason, analyse information, and make reasoned judgments. I'm a true believer that smoking is indeed a health concern, and it doesn't directly correlate with a person’s cognitive abilities or critical thinking skills.

Everyone, smoker or non-smoker, has the potential to be a critical thinker. It’s always essential to consider individuals on their own merits rather than making assumptions based on certain habits or behaviours. It's a gentle reminder that everyone who posts in this thread is free to share their unique perspectives.

Skate.

 

[Rabbithop]

Life is all about commitments
Adhering to a personal commitment comes naturally to me, especially after a profound conversation with my son about smoking.

I asked him, “Why don’t you quit smoking? It has serious long-term health implications.”

No sooner had I finished my sentence than he replied, “I would, Dad, but I’m not a quitter.”

His response made me realise that he truly is a chip off the old block.

Skate.

The other half used to be a smoker until personal Insurance premium for smoker risen that it finally puts a STOP to the habit.
No one can request or insists addictor to stop. They need to have their own will power to do it.
Friends n Family members said, I am a gambler as I play the Stock Market.
Am I a gambler or a wealth creator, I would leave it for them to conclude when I am gone.
While suffering years to nagging n arguments that we kept pouring hard earned money into negative gearing properties n the conclusion can be seen now by them as a positive way of creating wealth which we can't achieved via Term Deposit. On the other hand, if there is a compound Term Deposit like I known 50 yrs ago, it may be different story.

 

[Chipp]

@Chipp your statement “Smokers are not critical thinkers” is a generalisation. Critical thinking is not determined by a person’s habits, such as smoking, but rather by their ability to reason, analyse information, and make reasoned judgments. I'm a true believer that smoking is indeed a health concern, and it doesn't directly correlate with a person’s cognitive abilities or critical thinking skills.

Everyone, smoker or non-smoker, has the potential to be a critical thinker. It’s always essential to consider individuals on their own merits rather than making assumptions based on certain habits or behaviours. It's a gentle reminder that everyone who posts in this thread is free to share their unique perspectives.

Skate.

Of course its a generalization and by no means does it correlate to non smokers being critical thinkers but the other way around the correlation coefficient has a very good chance of being higher , i dont have data and im not going to waste my precious time looking for it This really isnt the conversation about CT i want to get into , I did put a wink in my statement , read the room .... cheers

There are exceptions to every rule , as a critical thinking person/trader my focus is to define a probability and manage a possibility .

Edit . Sorry i am very busy atm and will fill in some gaps over weekend when i have time . The first book anyone should read starting a pursuit of critical thinking is Thinking Fast and Slow . It shows how poor we are at logical conclusions and can be swayed by biases . This is the first step . Becoming a critical thinker is basically changing the way you interperet things . All POV need to be considered . Got to go

 

[Skate]

The pursuit of truth , i became a psudeo amatuer quant after becoming a critical thinker , best thing i ever did .

@Chipp, I didn't realise you added to your previous post.

Life, in essence, is a sequence of decisions made consecutively, and I appreciate your perspective. The question of whether individuals can alter their ingrained psychology is indeed debatable. However, I firmly believe in the adage, ‘Where there’s a will, there’s a way.’ With sufficient effort and determination, achieving anything within reasonable boundaries is possible.

Skate.

 

[Skate]

Mine was more in reference to the way other people tend to behave upon being handed the reigns, and a map to Eldorado.

They somehow, always, manage to convince themselves, that, they've spotted a clever short cut to a more affluent destination, when what they've actually discovered, is a way to fast track themselves into great effluence!

The post by @cynic above has left a profound impact on me. It’s a testament to the power of words and the resonance of a well-articulated depiction of reality. It’s these reflections and discussions that enrich our understanding and perspective of the world around us.

Skate.

 

[TimeISmoney]

The post by @cynic above has left a profound impact on me. It’s a testament to the power of words and the resonance of a well-articulated depiction of reality. It’s these reflections and discussions that enrich our understanding and perspective of the world around us.

Skate.

No short cuts or free lunches in life, when something is easy there's always a catch somewhere I've found especially when it comes to making money.

 

[Skate]

No short cuts or free lunches in life, when something is easy there's always a catch somewhere I've found especially when it comes to making money.

cynic said:
Mine was more in reference to the way other people tend to behave upon being handed the reigns, and a map to Eldorado. They somehow, always, manage to convince themselves, that, they've spotted a clever short cut to a more affluent destination, when what they've actually discovered, is a way to fast track themselves into great effluence!"

The metaphorical journey @cynic used is quite accurate as it presents a situation where individuals are given control or an opportunity represented by the reins and a map, respectively. The map symbolises the promise of reaching a desirable destination, Eldorado, which represents wealth, success, or prosperity.

However, the twist in human behaviour and perception occurs when people misinterpret the map and convince themselves that they have found a clever shortcut. They believe they have discovered a faster way to their desired destination, and this perception deceives them into thinking they have outsmarted the system.

The metaphor emphasises that the supposed shortcut is actually a detour, not a genuine way to reach the intended destination. The individuals who take this detour unknowingly veer off course and find themselves in a different place altogether. The term "effluence" is used to convey that they simply find themselves in the "poo" and not the intended outcome they were expecting.

The lesson derived from the metaphor is to be cautious and sceptical of perceived shortcuts. It reminds us to stay focused on the genuine path to prosperity, even if it takes longer. The metaphor also suggests that true success lies in diligently following the right path, rather than being enticed by illusory shortcuts.

Well, that was my interpretation of @cynic's post.

Skate.

 

[Skate]

Doing a Radge course probably not what id be doing , i dont think he is actually that advanced or transperant from what ive seen . The only person likely making any money from that course will be Radge IMO .

@Chipp, sorry to read that the mention on Twitter wasn't positive
It's never fun to receive negative feedback, especially when it's public. Remember that you can't control what others say or think, but you can control how you respond to it.



In my view, acquiring essential knowledge and skills is the key to succeeding in financial markets. @Nick Radge's mentoring course is one such avenue, offering comprehensive guidance and tools for crafting robust trading strategies. It’s not an instant solution, but a long-term investment in personal growth.

Like any investment, questioning the value of education is natural. However, I believe its true worth lies not just in the knowledge acquired, but in its application. The real advantage of education is the practical use of learned skills, potentially leading to success when trading.

By investing in education, you're not just gaining knowledge, you're also developing the skills and expertise necessary to make informed trading decisions. With the right guidance and support, anyone can turn a trading aspiration into reality.

Skate.

 

[Skate]

The first dividend payments are due soon
1. FMG's dividend payment date is the 27th of March 2024
2. BHP's dividend payment date is the 28th of March 2024
3. CBA's dividend payment date is the 28th of March 2024
4. WDS's dividend payment date is the 4th of April 2024



Skate.