I seriously need to keep my trading moving forward
The chances of me getting a job in the current climate, especially having been out of the workplace for 3 years, is very poor
2011
I know the feeling!
But I'd like to think that, for people who are intelligent and hard working, there are still opportunities out there (even if it means stacking shelves or flipping burgers, and working your way up the ladder).
And given your success in Betfair trading, there's a chance you could get a job trading in the City. The techniques used might be different, but the psychological qualities required to succeed aren't.
I don't think I'd be able to get back into my preferred (and former profession) of being a copywriter. There are currently just 17 copywriter jobs within 30 miles of London on the Reed website! I guess advertising isn't top of a firm's priorities when it's struggling to pay the electricity bill...
Jeff
But I'd like to think that, for people who are intelligent and hard working, there are still opportunities out there (even if it means stacking shelves or flipping burgers, and working your way up the ladder).
And given your success in Betfair trading, there's a chance you could get a job trading in the City. The techniques used might be different, but the psychological qualities required to succeed aren't.
I don't think I'd be able to get back into my preferred (and former profession) of being a copywriter. There are currently just 17 copywriter jobs within 30 miles of London on the Reed website! I guess advertising isn't top of a firm's priorities when it's struggling to pay the electricity bill...
Jeff
LeTiss 4pm wrote:I seriously need to keep my trading moving forward
The chances of me getting a job in the current climate, especially having been out of the workplace for 3 years, is very poor
I think it’s important to think about the probability of unfavorable outcome occurring and build this in to your model so that you’re able to cope with them as and when they occur. Unfortunately the world does not progress upward in a linear fashion and to pretend that it does is folly. More people than not take end up believing that their shares or gold will continue to rise ad infinitum and end up acquiescing prevailing orthodoxy instead of challenging the status quo and provide counter points of view to balance the books.
In Mathematics, there’s Chaos Theory which in a nutshell states that a butterfly in Hong Kong can cause tornados in San Francisco. A tiny even can lead to a major and unexpected long-term outcome.
Witness a suicide in Tunisia which ended up toppling their government and it’s in process of toppling Egypt government which has been a more stable in the last decades or so. Egypt is a fairly big beast in the Middle East and will unsettle markets across the world even if partially. This is already having impact in Yemen, Algeria, Libya etc and nobody can be sure where it will lead.
Individually these countries may not be significant player on a global scale but their combined effect to financial as well as political landscape is likely to have great impact. In today’s inter-connected world we can’t just think that we’re protected in our cocoon.
It’s not at all defeatist or like drugs that suck you in to be cognisant of potential negative outcomes occurring but rather clear and present signals that need evaluated and come up with a sustainable to plan to counteract if it’s likely to cause impact your livelihood.
The end of the world is not nigh, but it’s not or never has been static.
In Mathematics, there’s Chaos Theory which in a nutshell states that a butterfly in Hong Kong can cause tornados in San Francisco. A tiny even can lead to a major and unexpected long-term outcome.
Witness a suicide in Tunisia which ended up toppling their government and it’s in process of toppling Egypt government which has been a more stable in the last decades or so. Egypt is a fairly big beast in the Middle East and will unsettle markets across the world even if partially. This is already having impact in Yemen, Algeria, Libya etc and nobody can be sure where it will lead.
Individually these countries may not be significant player on a global scale but their combined effect to financial as well as political landscape is likely to have great impact. In today’s inter-connected world we can’t just think that we’re protected in our cocoon.
It’s not at all defeatist or like drugs that suck you in to be cognisant of potential negative outcomes occurring but rather clear and present signals that need evaluated and come up with a sustainable to plan to counteract if it’s likely to cause impact your livelihood.
The end of the world is not nigh, but it’s not or never has been static.
This is where planning comes in. Those who are prepared are more likely to prospour. As you know that when it comes to trading that lot of unexpected things can happen even before the start of a race like horses playing up, weather causing havoc, equipment male functioning, electricity cuts, feed stoppage etc.... They can have big impact to your p&l. I admit most of the things do not happen reguarly but when they do happen then you got to have a plan to deal with them if they occur.
You can't wish away occurance of negative outcomes and so you have to be prepared to deal with them.
You can't wish away occurance of negative outcomes and so you have to be prepared to deal with them.
The trouble with the future is that is hasn't happened yet.
Until such time as human nature changes, bubbles will form and bubbles will burst.Photon wrote:
More people than not take end up believing that their shares or gold will continue to rise ad infinitum and end up acquiescing prevailing orthodoxy instead of challenging the status quo and provide counter points of view to balance the books.
I once read a book that used stock charts from the 19th century to show that the same patterns you see every day now occured back then too.
I would argue that it was a tipping point, not a cause, just as the assassination of Archduke Franz Ferdinand was the trigger for World War I, but not the cause.Photon wrote: Witness a suicide in Tunisia which ended up toppling their government and it’s in process of toppling Egypt government which has been a more stable in the last decades or so.
I also feel that, although no-one could have predicted the unrest in Egypt, the global economic situation is such that there's a greater likelihood of people's frustrations boiling over.
Surprisingly, the Forex markets are fairly quiet this evening. Perhaps traders are taking a 'wait and see' approach, and seeing how things pan out over the weekend.Photon wrote:Egypt is a fairly big beast in the Middle East and will unsettle markets across the world even if partially.
I agree. Some people mistakenly think positive thinking means not considering bad things that might happen, and planning accordingly...Photon wrote:It’s not at all defeatist or like drugs that suck you in to be cognisant of potential negative outcomes occurring but rather clear and present signals that need evaluated and come up with a sustainable to plan to counteract if it’s likely to cause impact your livelihood.
It might be - who knows what the future holds?Photon wrote:The end of the world is not nigh.
When Lehmann collapsed, it may have been that, had the US government not bailed out the banks, then a global financial meltdown would have resulted. America can't go on printing money forever to prop up its economy, and there may eventually be a day of reckoning...
Jeff
Euler I hope your father-in-law is doing fine. It appears that tourists are well protected.
I just heard a phrase from a BBC news reporter that I thought is worth mentioning. Aparently police are told to leave their area in a hope of persuading people to side ‘the regime that they know than future that they don’t’.
I just heard a phrase from a BBC news reporter that I thought is worth mentioning. Aparently police are told to leave their area in a hope of persuading people to side ‘the regime that they know than future that they don’t’.
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CaerMyrddin
- Posts: 1271
- Joined: Mon Sep 07, 2009 10:47 am
I saw today on the news a women saying this was all a farse made by the government? I can't believe it, but it's all very strange...
Excellent!
It must be one of those rare occasions when someone feels great to be back in Blighty in January, after spending time in sunnier climes!
Jeff
It must be one of those rare occasions when someone feels great to be back in Blighty in January, after spending time in sunnier climes!
Jeff
Euler wrote:My father in law has just touched down in the UK. Bit of chaotic scene at the airport by the sound of it.