Book Review: Turning Pro

I’ve got a big to-read pile.   It’s got approximately 200 physical books and 400 ebooks on it.

I may have a problem.

I’ve also been going through a massive decluttering/organizing phase.   It must be a phase because I’ve never been so dedicated to cleaning out my stuff before.

The combination is interesting for me.   I can’t throw out the books because they’re books.   Books aren’t for the garbage, they are for reading, savoring, sharing.   Gotta read ’em.

Since I want to organize and declutter, the books need to be read before they can be moved to my “already read this” bookshelves with their 2500 new brothers and sisters.

Did I mention I may have a problem?

My solution is simple.  I put a book I’ve been meaning to read in my upstairs reading room.  I put another book I’ve been meaning to read in my downstairs reading room.   Depending on where I am when the…err…need to read comes upon me, I’ve got a book that isn’t my current fiction read ready to go.   I just have to make sure the book doesn’t fall into the sink.   (If you’re slow, this means my reading rooms are what other people call bathrooms.)   Other people bring their smartphones into the reading room, but I’m trying to better myself.   Facebook isn’t going to do that for me.   And yes, this means I’m currently reading 4 books at once.  (Reading room #1, reading room #2, kindle[fiction], kindle[non-fiction])

The first book in the series is Turning Pro by Steven Pressfield.

Hated it.

That was easy.

Now, I like Pressfield’s fiction.  Gates of Fire was one of the coolest takes on one the most bad-ass battles in recorded history.   It’s good.

I’m not a fan of his non-fiction, though.  Turning Pro is all about how to “Tap your inner power and create your life’s work.”   Wonderful!  I want that.

The problem is that he forgot to include that part.   The entire book can be summarized as “Drop everything and make your work happen.  You can do it! (cue hippie-woo-feelings).  If you don’t succeed, it’s your fault.  Go flip a burger.”   It’s all true enough, but hardly worthy of the time spent writing a book.   I’m glad I got it free.

Read Gates of Fire instead.

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What Is Your Binary Options Strategy?

Binary Options tradingWhen you are just entering the world of binary options trading or investing, you may be on the receiving end of a lot of advice. It is not uncommon to hear people tell you to implement different gambling strategies because binary options are based on chance more than anything else. You will also hear a lot of advice from those who say there are many good ways to develop an effective strategy using indicators and market signals. Some will insist that with proper analysis of market data, a solid strategy can be developed too.

Are they all correct? Interestingly enough, the answer is yes. The reason for this is simple, and as one expert writes, “there is no such thing as a perfect strategy for every trader. There is only a best strategy for each individual trader.” Thus, your strategy has to be shaped around a few things:

  • Your willingness and ability to follow your chosen strategy.
  • Your personality. For instance, are you restless if you are taking the safe route or a higher risk strategy?
  • Your budget and goals,

Identifying the answers to these questions is the first step to formulating a strategy. You should also understand that the winning percentage of most strategies will be somewhat constant, but the total number of successful trades varies on an individual basis and is based entirely on the strategies used.

For instance, some investors want a high percentage of winning trades and are more comfortable with risk averse trading. Others are ready to take more risk and are entirely comfortable winning fewer trades if the returns on winning trades are dramatically higher. This enables them to implement higher risk trades. The interesting thing about strategies and the kinds of trades they generate is that they are all built from the same data.

The Data of Strategy

For example, almost all strategies will look at issues like market trends, trading trends, highs and lows, reversals, and various kinds of indicators. The reason that high and low trends pay off in strategy development is simple: binary options trading applies to whether or not an asset rises above a strike price or doesn’t. It is the proverbial “yes or no” part of the proposition and analysis for either outcome pays off.

As an example, a lot of risk-averse investors will look for breakouts. They use these for trend line investing, which can be as brief as sixty seconds to a day, but can be used to coordinate investing in the direction of a short trend. Although this seems complex, it really is not. The key is that analysis cannot be broad and across all available markets. Instead, focused analysis on a specific area will allow even a novice investor to analyze for a breakout and then invest in binary options accordingly.

Just being able to detect a reversal or a downward trend over the course of a day can yield a very rewarding investment. The key is to understand your strategy based on your budget, personality, and your ability to stick with the strategy, even if it does not yield immediate success. When you do this, and use the right tools for analysis, you can create an effective strategy that brings you closer to your goals.

This is a guest post.

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Daytrading Bitcoin and Cryptocurrency

For the past 6 weeks, I've been playing with Bitcoin and Litecoin.I can hear you from across the internet.   You're asking, "What the hell is Bitcoin?"I'm glad you asked.  It's a cryptocurrency.And now you know as much as you did … [Continue reading]


My Mortgage is Smaller Than My Credit Card Balance

It's been one heck of a spring summer for my family, financially speaking, and it turned out to be a bit more than we had budgeted for.Here's what we've done on top of our regular spending, so far:Remodeled both of our bathrooms(at the … [Continue reading]

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