Profitable ETF Trading Strategies - Understand Your Trader Quality Number
By Ken Long
The system quality number that is taught by the International Institute of Trading Mastery is a very powerful way of calculating a single number that describes the relative quality of a particular system, given a set of trading results that are typical for that system. It is a methodology that allows you to compare average results with typical volatility over a statistically significant data set to determine if there is a quantitative and qualitative difference between two systems.
The system quality number is a powerful idea as far as it goes. Many traders, however, discover that the actual results of the system they propose to trade come in different than those suggested by the back test. One of the important differences between back testing in forward testing with real money is the human factor of the trader himself and his affect on system performance.
Sometimes the traders' actions add value to a system. Frequently the traders' actions take away value. The reasons for this can be numerous and varied and usually there is a combination of reasons why the trader degrades the performance of a particular system. It is normal for an inexperienced trader to overrule the specific system rules that add the most value to the new system.
An example of this would be to refuse to take an entry signals because of a particular belief in where the market is going to go next. This will normally occur when you see the system rules putting you into trades that don't make sense to your intuition. It may be the very counter-intuitive nature of the system that adds value to the results. If your psychology is aligned with that of the masses, then you will tend to overrule the system precisely when it is taking advantage of mass psychology.
As a result of this phenomenon, it is useful to think of a trader quality number which incorporates the system quality number as modified by the traders' actions. Only by taking meticulous notes of when and where the trader deviates from the system's rules can we determine if in fact he is adding or subtracting value. By examining the results from numerous examples of trader intervention, we can determine if it's a good idea for the trader to have discretion or not when executing the system.
It takes an incredible strength of will and character to take a look at the results of your own interventions and then act in a professional manner based on your analysis. If you can do that however, you have the fortitude and character to be a great trader.
Know your trader quality number as well as your system quality number and let that be your guide.
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chat room.
Training, education, mentoring and coaching for professional traders.
=========================================
Recession Shopping Lesson
By Emily McCormick and Athelia Woolley
Shopping is a guilty-pleasure that most people love to indulge in some way or another. However when the economy is in bad-shape, people tend to think they must go without. For some people price wasn't always necessarily a priority when participating in a nice day of shopping, and now it is. But with a little bit of planning your wish list instead of impulse shopping, when the opportunity for you to make your purchase arises, it can be much more rewarding.
Here are our four tips on ways to shop during the recession:
1. Scope out new trends and find pieces that will be versatile with your existing wardrobe.
When shopping on a budget you have to take the time to think about what you really need and not just what you want at that moment. By doing this, you can distract yourself from the temptation of shopping and use that interest to look at magazines or fashion shows to find that new trend or classic piece you want. It will also allow you to have more control on with the number of items you buy, saving you more money. Once you have an idea of what you might like to treat yourself to, make the time to look around and compare prices.
2. Look for sales, coupon codes, and discount shops to make your budget work with what you want.
Pick at least three prices ranges (high-end, moderate, and a bargain) of a piece you really want. It could be sold at multiple stores or websites for a lower price or have a twin sister and without shopping around, you wouldn't ever know. Considering the economic situation, many retailers are producing more coupon codes and promotions to be considerate of shoppers. For instance, Shabby Apple, an online dress boutique, will offer special discount codes for blog readers to use on their website.
3. Plan a monthly budget and find out what you can afford.
It's amazing how much you can actually save, when you stop impulse shopping. But what's even more amazing, is saving for one item that you really want and deserve. You may have to be aware that you can't afford to purchase that high-end designer pair of heels this month. It's not horrible news to you though, because since you shopped around you found two other brands that carry a heel just like it. If you find out that after all your credit card bills and other monthly payments leave you high and dry, try hosting a swap party (see below).
4. If all else fails, hold a swap party.
Swap parties are becoming ever so popular right now with people of all ages. Who doesn't have something hiding in the back of their closet that they wouldn't mind swapping? These parties are a great way to acquire new-to-you pieces for your closet without spending any money.
How to:
• Invite friends with a similar fashion sense and keep in mind clothing and shoe sizes.
• Suggest a number of items each person should bring.
• Hold the party, exchange for favorites, and donate whatever is leftover.
This article is co-authored by Athelia Woolley and Emily McCormick, the founders of Shabby Apple. Shabby Apple offers women's dresses - dresses that make dressing simple. Shabby Apple dresses are a return to what dresses were always meant to be - a one-piece outfit. No need to add anything...no tank tops, no cardigans, nothing (except accessories, of course!). Shabby Apple also offers a complete line of little girls dresses Be sure to check out Shabby Apple's new line of maternity dresses.
=====================================
Saving Pennies to Dollars and More With Grocery Coupons
By Karen Lynch
Even before the current economic crisis most people were interested in saving money. Very few people want to spend more than they have to on things that they must buy like groceries, cleaning supplies, clothes and more. But the current times have made this wish to save money even more acute. Right now it is more important than ever to make sure you are saving every penny to every dollar that you can.
Coupons have been around for many, many years. Many of us remember our mothers cutting coupons out and some may even remember trading stamps. While trading stamps seem to be a thing of the past, coupons and the use of coupons are making a huge comeback right now.
You can find and use coupons for almost anything and everything. In fact you should never purchase anything from an online store before you do a coupons search. Many times you can find great deals and ways to save with just a short search. You can find coupons for things like free shipping, a percentage off and more. Make sure you check the manufacturers website also.
For everyday shopping for groceries and other things that we all use, you can still find a wealth of coupons out there that you can clip. Just break out your scissors. The Sunday paper of course, but also magazines, receipts, flyers that come in the mail and local coupon books. You can find ways to save money almost everywhere you look if you are just observant.
One of the best ways to find coupons and definitely the most environmentally responsible ways is to find online printable coupons and online coupon codes. There are coupons sites all over the Internet. There are almost always coupons available on manufacturers websites and you can usually pick up your local store coupons by visiting their websites.
The Internet is the absolute best place for anybody to find a coupon for anything. You can even find sites out there that trade coupons.
After you have found all of the great coupons then you need to learn to use them to their highest advantage. Mix and match. Use manufacturers coupons along with store coupons, combined with BOGO (buy one, get one) sales and store specials. Shop at stores that offer double coupon days. Be creative and if you don't know if you can combine coupons it never hurts to ask. Just ask.
Coupons can save you money but only when you consistently and effectively use them. You can save as much as 50 % or more with smart shopping and that can end up saving you a ton of money.
And in this current economic climate saving money is important to everyone.
Karen Lynch is a freelance writer who is passionate about saving money for her family. She uses Grocery Coupons sales and rebates to maximize her savings. She shares her tips and techniques for the family budget
By Ken Long
The system quality number that is taught by the International Institute of Trading Mastery is a very powerful way of calculating a single number that describes the relative quality of a particular system, given a set of trading results that are typical for that system. It is a methodology that allows you to compare average results with typical volatility over a statistically significant data set to determine if there is a quantitative and qualitative difference between two systems.
The system quality number is a powerful idea as far as it goes. Many traders, however, discover that the actual results of the system they propose to trade come in different than those suggested by the back test. One of the important differences between back testing in forward testing with real money is the human factor of the trader himself and his affect on system performance.
Sometimes the traders' actions add value to a system. Frequently the traders' actions take away value. The reasons for this can be numerous and varied and usually there is a combination of reasons why the trader degrades the performance of a particular system. It is normal for an inexperienced trader to overrule the specific system rules that add the most value to the new system.
An example of this would be to refuse to take an entry signals because of a particular belief in where the market is going to go next. This will normally occur when you see the system rules putting you into trades that don't make sense to your intuition. It may be the very counter-intuitive nature of the system that adds value to the results. If your psychology is aligned with that of the masses, then you will tend to overrule the system precisely when it is taking advantage of mass psychology.
As a result of this phenomenon, it is useful to think of a trader quality number which incorporates the system quality number as modified by the traders' actions. Only by taking meticulous notes of when and where the trader deviates from the system's rules can we determine if in fact he is adding or subtracting value. By examining the results from numerous examples of trader intervention, we can determine if it's a good idea for the trader to have discretion or not when executing the system.
It takes an incredible strength of will and character to take a look at the results of your own interventions and then act in a professional manner based on your analysis. If you can do that however, you have the fortitude and character to be a great trader.
Know your trader quality number as well as your system quality number and let that be your guide.
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chat room.
Training, education, mentoring and coaching for professional traders.
=========================================
Recession Shopping Lesson
By Emily McCormick and Athelia Woolley
Shopping is a guilty-pleasure that most people love to indulge in some way or another. However when the economy is in bad-shape, people tend to think they must go without. For some people price wasn't always necessarily a priority when participating in a nice day of shopping, and now it is. But with a little bit of planning your wish list instead of impulse shopping, when the opportunity for you to make your purchase arises, it can be much more rewarding.
Here are our four tips on ways to shop during the recession:
1. Scope out new trends and find pieces that will be versatile with your existing wardrobe.
When shopping on a budget you have to take the time to think about what you really need and not just what you want at that moment. By doing this, you can distract yourself from the temptation of shopping and use that interest to look at magazines or fashion shows to find that new trend or classic piece you want. It will also allow you to have more control on with the number of items you buy, saving you more money. Once you have an idea of what you might like to treat yourself to, make the time to look around and compare prices.
2. Look for sales, coupon codes, and discount shops to make your budget work with what you want.
Pick at least three prices ranges (high-end, moderate, and a bargain) of a piece you really want. It could be sold at multiple stores or websites for a lower price or have a twin sister and without shopping around, you wouldn't ever know. Considering the economic situation, many retailers are producing more coupon codes and promotions to be considerate of shoppers. For instance, Shabby Apple, an online dress boutique, will offer special discount codes for blog readers to use on their website.
3. Plan a monthly budget and find out what you can afford.
It's amazing how much you can actually save, when you stop impulse shopping. But what's even more amazing, is saving for one item that you really want and deserve. You may have to be aware that you can't afford to purchase that high-end designer pair of heels this month. It's not horrible news to you though, because since you shopped around you found two other brands that carry a heel just like it. If you find out that after all your credit card bills and other monthly payments leave you high and dry, try hosting a swap party (see below).
4. If all else fails, hold a swap party.
Swap parties are becoming ever so popular right now with people of all ages. Who doesn't have something hiding in the back of their closet that they wouldn't mind swapping? These parties are a great way to acquire new-to-you pieces for your closet without spending any money.
How to:
• Invite friends with a similar fashion sense and keep in mind clothing and shoe sizes.
• Suggest a number of items each person should bring.
• Hold the party, exchange for favorites, and donate whatever is leftover.
This article is co-authored by Athelia Woolley and Emily McCormick, the founders of Shabby Apple. Shabby Apple offers women's dresses - dresses that make dressing simple. Shabby Apple dresses are a return to what dresses were always meant to be - a one-piece outfit. No need to add anything...no tank tops, no cardigans, nothing (except accessories, of course!). Shabby Apple also offers a complete line of little girls dresses Be sure to check out Shabby Apple's new line of maternity dresses.
=====================================
Saving Pennies to Dollars and More With Grocery Coupons
By Karen Lynch
Even before the current economic crisis most people were interested in saving money. Very few people want to spend more than they have to on things that they must buy like groceries, cleaning supplies, clothes and more. But the current times have made this wish to save money even more acute. Right now it is more important than ever to make sure you are saving every penny to every dollar that you can.
Coupons have been around for many, many years. Many of us remember our mothers cutting coupons out and some may even remember trading stamps. While trading stamps seem to be a thing of the past, coupons and the use of coupons are making a huge comeback right now.
You can find and use coupons for almost anything and everything. In fact you should never purchase anything from an online store before you do a coupons search. Many times you can find great deals and ways to save with just a short search. You can find coupons for things like free shipping, a percentage off and more. Make sure you check the manufacturers website also.
For everyday shopping for groceries and other things that we all use, you can still find a wealth of coupons out there that you can clip. Just break out your scissors. The Sunday paper of course, but also magazines, receipts, flyers that come in the mail and local coupon books. You can find ways to save money almost everywhere you look if you are just observant.
One of the best ways to find coupons and definitely the most environmentally responsible ways is to find online printable coupons and online coupon codes. There are coupons sites all over the Internet. There are almost always coupons available on manufacturers websites and you can usually pick up your local store coupons by visiting their websites.
The Internet is the absolute best place for anybody to find a coupon for anything. You can even find sites out there that trade coupons.
After you have found all of the great coupons then you need to learn to use them to their highest advantage. Mix and match. Use manufacturers coupons along with store coupons, combined with BOGO (buy one, get one) sales and store specials. Shop at stores that offer double coupon days. Be creative and if you don't know if you can combine coupons it never hurts to ask. Just ask.
Coupons can save you money but only when you consistently and effectively use them. You can save as much as 50 % or more with smart shopping and that can end up saving you a ton of money.
And in this current economic climate saving money is important to everyone.
Karen Lynch is a freelance writer who is passionate about saving money for her family. She uses Grocery Coupons sales and rebates to maximize her savings. She shares her tips and techniques for the family budget
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