50 Great quotes about trading, market trends, money, finance, investments, opportunities and failure, philosophy of traders and discipline by trading lovers.

Life is either a daring adventure or nothing.
Helen Keller

First of all you must keep well in mind that a complete trading system covers each of the decisions required for successful trading, that is:
Markets – What to buy or sell
Position Sizing – How much to buy or sell
Entries – When to buy or sell
Stops – When to get out of a losing position
Exits – When to get out of a winning position
Tactics – How to buy or sell
Daimon Traders

To be a trader or an investor first you must have some money (a lot is better), and then you should learn and practice some financial activities. The problem arises if you don’t have money, then what you necessarily need is vast knowledge and great skilfulness. In any case you must be very very careful, because the market is always there, ready to fuck you! Alternatively, if you are still young, you might try to become a manager, and consequently get rich working hard and earning a lot, so that you can afford some professional financial advisors.
Carl William Brown

The market does not know you exist. You can do nothing to influence it. You can only control your behavior.
Alexander Elder

The most important thing about making money is not to let your losses get out of hand!
Marty Schwartz

The quality of a person’s life is in direct proportion to their commitment to excellence, regardless of their chosen field of endeavor”
Vince Lombardi

The rich are those who play to win. The middle class plays not to lose.
Robert Kiyosaki

It is essential to wait for trades with a good risk/reward ratio. Patience is a virtue for a trader.
Alexander Elder

Be patient! Patience is one of the key ingredients to reaping large profits. It can be very difficult to sit idle when I am surrounded by all the action of the market, yet sometimes the best course of action is to do nothing at all. I make far more money when I wait for the best set-ups, wait for the best entries, and wait for the best exits.
Gregg aka LX21

Be true to the game, because the game will be true to you. If you try to shortcut the game, then the game will shortcut you. If you put forth the effort, good things will be bestowed upon you. That’s truly about the game, and in some ways that’s about life too.
Michael Jordan

As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.
Robert Kiyosaki

It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Warren Buffett

Remember it takes volume to move stocks, so start getting to know your stock’s volume behavior and then how it reacts to spikes in volume. You can see these spikes on any chart. Volume is the key to your stock’s movement and success or failure.
Dan Zanger

Swing trading is a good fit for a minority of the population. It involves tremendous amounts of responsibility. You must rely on yourself and can’t be reckless or prone to gambling. If you’re not disciplined, you may end up with no income (or worse).
Omar Bassal

Remember. You are NOT trading against other human traders. You are trading against AI Bots. They don’t sleep. They don’t eat. They don’t use the bathroom or get sick etc. Their only existance is to be programmed to beat you.
Brian Jones

It pays to write down your plan. You need to know exactly under what conditions you will enter and exit a trade. Do not make decisions on the spur of the moment, when you are vulnerable to being sucked into the crowd. Plans are created by reasoning individuals. Impulsive trades are made by sweaty group members.
Alexander Elder

To do the job right requires such an enormous amount of concentration. It’s physically and emotionally mandatory that you find some time to relax. And you’ve got to be able to turn it off like that. There will be times though that I get so incredibly excited about a trade or even a project that I’ll wake up at 4 o’clock in the morning and there’s no way in hell that I’m going back to sleep. I’ll sit there in my dreams and trade for four hours.
PTJ

Michael [Marcus] taught me one thing that was incredibly important… He taught me that you could make a million dollars. He showed me that if you applied yourself, great things could happen. It is very easy to miss the point that you really can do it. He showed me that if you take a position and use discipline, you can actually make it.”
Bruce Kovner

I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out; if they are going for me, I keep them.
Paul Tudor Jones

The concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE’s?
Paul Tudor Jones

Perseverance is the hard work you do after you get tired of doing the hard work you already did.
Newt Gingrich

Do not strive for things occurring to occur as you wish, but wish the things occurring as they occur,
and you will flow well.
Michael W. Covel

Speculation is far too exciting. Most people who speculate hound the brokerage offices… the ticker is always on their minds. They are so engrossed with the minor ups and downs, they miss the big movements.
Jesse Livermore

If you limit your actions in life to things that nobody can possibly find fault with, you will not do much.
Charles Dodgson

There are a million ways to make money in the markets. The irony is that they are all very difficult to find.
Jack D. Schwager

Investment banks are pyramid schemes controlled by the upper class.
J.P. Morgan

It is impossible to predict with any certainty how the overall stock market will behave. This is why there is so much risk associated with this form of investment. That is why if you are not a professional trader you must wait for the good chance of your life!
Carl William Brown

There are old traders; and there are bold traders; but there are no old bold traders.
The Turtles

Experience is that marvelous thing that enables you to recognize a mistake when you make it again.
Franklyn P. Jones

Media, the plural of mediocrity.
Jimmy Breslin

When the bull market ended in 2000, so did many traders’ accounts.
Daimon Traders

I want to trade successfully in the short period, I am not interested in keeping a stock for years, since in the long period we will be all dead, and I am not so young anymore! I obviously know that doing like this I loose some very good opportunities!
Carl Wiliam Brown

A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does damage to the pocketbook and to the soul.
Jesse L. Livermore

It’s human nature when you lose money quickly you want to make it back twice as quick. Slow down, keep focused, and stick to your strategy.
Ian Cassel

All our life is nothing but a stupid trade, a poor bet, and in the end we are going to loose the whole capital, if any!
Carl William Brown

Go boldly after what you want and expect some setbacks, some disappointments, and some rotten days. Embrace them all as a valuable part of the process and learn to say, Thank you, teacher.
Mark Minervini

All our life is nothing but a stupid trade, a poor bet, that’s why you must learn a lot about trading and stupidity!
Carl William Brown

I always believe that prices move first and fundamentals come second.
Paul Tudor Jones

It is not that we had any unfair knowledge that other people didn’t have, it is just that we did our homework.
Paul Tudor Jones

The ability to cut a loss while it’s small is a core trading skill.
Steve Burns

Don’t judge each day by the harvest you reap but by the seeds that you plant.
Robert Louis Stevenson

Determine to become one of the best… Sufficient money will almost automatically follow if you get to be one of the “best” in your chosen field, whatever it is.
Don G Mitchell

Whenever I have had the patience to wait for the market to arrive at what I call a Pivotal Point before I started to trade; I have always made money in my operations.
Jesse Livermore

Achievement is not always success, while reputed failure often is. It is honest endeavour, persistent effort to do the best possible under any and all circumstances.
Orison Swett Marden

Decrease your trading volume when you are trading poorly; increase your volume when you are trading well.
Paul Tudor Jones

I usually ignore advice from other traders, especially the ones who believe they are on to a “sure thing”. The old timers, who talk about “maybe there is a chance of so and so,” are often right and early.
ED sykota

Fundamentalists figure things out and anticipate change. Trend followers join the trend of the moment. Fundamentalists try to solve their feelings. Trend followers join their feelings and observe them evolve and dis-solve.
ED sykota

My goal is to finish each day with more than I started.
Paul Tudor Jones

Most men fail, not through lack of education, but from lack of dogged determination, from lack of dauntless will.
Orison Swett Marden

A good system may be able to trade more markets effectively than a good trader because it has the advantage of unlimited computing power.
Paul Tudor Jones

The speculator’s chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation, when the market goes against you, you hope that every day will be the last day-and you lose more than you should had you not listened to hope.
Jesse Livermore

There is a time to go long. There is a time to go short. There is a time to go fishing.
Jesse Livermore

Some of the best trades come when everyone gets very panicky. the crowd can often act very stupidly in the markets. you can picture price fluctuations around an equilibrium level as a rubber band being stretched-if it gets pulled too far, eventually it will snap back. as a short term trader, i try to wait until the rubber band is stretched to its extreme point.
Linda Bradford Raschke

The position size on a trade is determined by the stop, and the stop is determined on a technical basis.
Bruce Kovner

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Sal

Ko-fi-com-support. Ko-fi.com is a friendly way to ask fans to support your work for the price of a coffee, coffee of course is just a metaphor.

We don’t have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads! We need money to operate the site, and almost all of it comes from our online advertising. Please add our site to your ad blocking whitelist or disable your adblocking software, otherwise you could also support us on Ko-fi. Thank you very much indeed!
Carl William Brown

If moderation is a fault, then indifference is a crime. 
Jack Kerouac

What we frankly give, forever is our own.
George Granville

Do not do good if you do not have the strength to bear ingratitude.
Confucius

You will always have those only riches that you have donated.
Marco Valerio Marziale

The value of life is not in its duration, but in its donation. You are not important because of how long you live, you are important because of how effective you live.
Myles Munroe

No one has ever become poor by giving.
Anne Frank

Making a donation is the ultimate sign of solidarity. Actions speak louder than words.
Ibrahim Hooper

Io ho quel che ho donato. Motto di Gabriele D’Annunzio

Ko-fi-com-support. I like the simplicity of the whole supporting process. And the commissions feature too. If supporters leave a bit for me it always makes my day!

A Nicer Way to Ask

Ko-fi is the friendly way to ask fans to support your work for the price of a coffee. Coffee’s just a metaphor (You don’t have to buy actual coffee!). Ask your fans and followers to support you, receive messages of encouragement and celebrate when you reach your goal! 0% platform fee on your donations. Create your free page!

What Is Ko-Fi?

Ko-fi has been around for quite a while, but most people don’t recognize it as a space for writers because it isn’t just a content creation site. Though you can post content on this site to some extent, that isn’t the main goal. Instead, Ko-fi is meant to be shared on all of your profiles so that all of your fans can have an easy way to help you monetize your work. With this simple tool, you can accept donations and more from fans, making it easier than ever to make money writing.

Show Your Best Self

Create a portfolio of your best work, organize into albums and share them with your fans and supporters.
Write posts and automatically update your followers about your creations, WIP and goals.
Let supporters unlock rewards for a one-off donation or monthly subscription.
You’re the boss! No pressure to create content to a schedule.

Find Your Support

With Ko-fi, you can make money in three key ways: donations, commissions, and subscriptions. Ko-fi’s donations aspect allows you to accept donations for anything, and even allows users to commit to spending money on you each month. You can set up funds for projects, tools, or just allow people to support your process.

Commission services allow users to purchase content directly from you. You can set up available services and offer open slots that your audience can purchase. Subscription services allow you to create exclusive content that your users can pay to have access to. Many writers use this to provide special stories, extended articles, or even tutorials.

Commissions Open!

Let your fans commission a unique piece of work just for them.
Create your beautiful commissions menu, choose how many slots you’re offering and set your own terms.
Get paid directly and up-front (refund commissions you don’t want to take).

Build a Monthly Income

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Reward subscribers with exclusive content like process videos, tutorials, your back catalogue of work… anything really.
Get paid instantly and directly when a fan subscribes to your page.

Open a Ko-fi Shop!

Ko-fi Shop lets you sell your digital or physical products directly from your page!
Use your beautiful Ko-fi Shop to list and sell access to digital files or downloads, physical merchandise or limited edition work.
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We make a living by what we get. We make a life by what we give.
Winston S. Churchill

The true language of commerce is the natural conversation between human beings.
Carl William Brown

I’m Carl William Brown, a part-time poor holistic teacher of English, a blogger and a writer of aphorisms and essays, who wrote my university dissertation on humor, because life might be considered as a comical and sad joke, above all if you live in Italy. I have also written various books, thousands of original quotes, many articles, and created different websites, always free of charge, so you can download my e-books and read them or all my posts, no need to pay.

During my life I have been committed to several cultural activities, the most important of which is certainly the spread of aphoristic culture applied to education and knowledge in general, and the teaching of several subjects, included the English language in Italy at the secondary school, and now my main goal is to support The world of English project, that is to encourage public opinion through the web, the media and other different networks to foster the role of English as the World common, unifying language of human cultural communication.

It’s not how much we give, but how much love we put into giving.
Mother Teresa

I have found that among its other benefits, giving liberates the soul of the giver.
Maya Angelou

My main goal is that of improving our communication abilities, since I believe that the real essence of the web is that of linking together all the best human resources in order to struggle to create a better world to live in. That’s why I decided to pull together my forces and began to create a cultural house on the web. Surrealism is the other strong idea that portrays my efforts, in fact I think that this philosophy of life is the only one which can give a balanced importance to every aspect of our complex society.

What’s more and to conclude, I can add that this simple goal is set in order to test and demonstrate human philanthropy and its sense of humor. Nevertheless, don’t worry, take it easy and be happy, since I am a scholar of stupidity, thanks for existing in any case. And last but not least, don’t be too generous, since lots of coffees might be dangerous for my poor health.

Bye bye for now, take care, stay safe and thanks for everything, and last but not least, please support my work.

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NIO Inc. stock company review. Nio develops, manufactures, and sells smart electric vehicles in China offering various models and a battery swapping service.

Last News NIO Inc. is set to achieve its first-ever operating profit in Q4 2025, with projections of RMB 200-700 million in operating income. This news has significantly impacted investor sentiment, leading to a 5.86% surge in stock price amid strong delivery growth and profitability hints.

NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five and six-seater electric SUVs, as well as smart electric sedans and power swap, a battery swapping service; full Charge in around 3 minutes while remaining in the car. Battery tested at every Swap and defective ones are removed from circulation. It took NIO four years to reach 10 million swaps. The last million took 11 Days. https://www.nio.com/

NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five and six-seater electric SUVs, as well as smart electric sedans. The company also offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Charger and Destination Charger; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service.

In addition, it provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers; statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; repair and routine maintenance; roadside assistance; courtesy vehicle services; data packages; and auto financing and financial leasing services.

Further, the company involved in the provision of energy and service packages to its users; design and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. Additionally, it offers NIO Certified, a used vehicle inspection, evaluation, acquisition, and sales service. The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was incorporated in 2014 and is headquartered in Shanghai, China.

Electric vehicle makers are facing multiple headwinds, including slowing demand due to macro pressures, intense competition, and additional tariffs on imports by certain countries. Nonetheless, Wall Street is optimistic about certain EV stocks due to their resilient performance in a tough business backdrop and improving financials. We used TipRanks’ Stock Comparison Tool to place Nio (NIO), Li Auto (LI), and Tesla (TSLA) against each other to pick the EV stock with the highest upside potential, according to Wall Street analysts.

Despite a tough business backdrop, Nio reported solid deliveries in September. The company delivered 21,181 vehicles, reflecting a 35.4% year-over-year increase. Its Q3 deliveries grew 11.6% to 61,855 vehicles. The September numbers included 832 units of the company’s first mass-market model Onvo L60, which was launched on September 19.

Recently, Nio announced that a group of Chinese investors will invest RMB3.3 billion in its subsidiary Nio China, while the company itself will invest an additional RMB10 billion. Reacting to the news, Daiwa analyst Kelvin Lau noted that Nio China is the core operational entity for the company and the cash injection by existing shareholders is a favorable development that supports the business operations. Lau has a Buy rating on Nio stock.

Is Nio Stock a Good Buy?

HSBC analyst Yuqian Ding lowered the price target for Nio stock to $7.20 from $7.90 but maintained a Buy rating. The analyst has a constructive outlook on Nio’s volumes and margin growth, supported by strong NIO brand sales, the potential for volume expansion for ONVO L60, supply chain cost optimization, and better economies of scale.

Overall, Wall Street has a Moderate Buy recommendation on Nio stock based on eight Buys, four Holds, and one Sell recommendation. The average Nio stock price target of $6.31 implies about 21% upside potential.

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Best trading practices, some good advice and tips to create you own trading plan in order to trade well and in a profitable way, without losing money. What’s more don’t forget to visit our main page on Finance and trading, a rich space with quotes, news, advices, tips, analysis, links, videos and many resources by Carl William Brown and the English-culture blog.

It pays to write down your plan. You need to know exactly under what conditions you will enter and exit a trade. Do not make decisions on the spur of the moment, when you are vulnerable to being sucked into the crowd. Plans are created by reasoning individuals. Impulsive trades are made by sweaty group members.
Alexander Elder

Here is a summary of what we consider to be essential for a good trading plan:

1) The Executive Summary. This is usually the last section written. It reviews all of the material of the plan and presents it in summary form. It should describe in detail the objective of the plan and then briefly describe, without a lot of detail, how the objectives will be achieved.

2) A Business Description. The business description should include the mission of the business, an overview of the business and its history, the products and services you provide (which is growth of capital and risk control as a trader), your operations, operational considerations such as equipment needed and site location, and your organization and management of employees (if any). All of these topics are fairly self-explanatory, but you should take the time to write them out as part of your plan.

3) An Industry Overview and Competition. In the industry overview you need to look at the factors influencing the market. For example, Ed Yardeni in his web site lists ten major factors influencing the market. These include a globally competitive economy, a revolution in innovation, wireless access to the Internet, low tech companies having access to high tech tools and changing their businesses as a result, the need to outsource to increase productivity, and many other themes. See www.yardeni.com for more information. In addition, you also need to know who/what your competition is. Who are you trading against? What are their beliefs? What advantages do they have that you don’t? What advantages do you have that they don’t?

4) Self-Knowledge Section: You need to know your strengths and your weaknesses and list them in this section. You need to know how to capitalize on your strengths and avoid (or overcome) your weaknesses.

5) Your Trading Plan Itself. The tactical trading plan should be a part of your trading plan, but it should also include (a) your trading beliefs that form the basis of your plan, (b) any strategic alliances you may have, and (c) what you plan to do in terms of education and coaching.

6) Your Trading Edges: I believe your trading plan should also include a listing of all of the trading edges that you have in the market. When you list your edges, you can review them often and be sure that you capitalize upon them. For example, your edges might include a) the fact that you don’t have to trade, b) your understanding of R-multiples and position sizing (which give people a huge edge over those who have no idea about these concepts), c) your ability to read a level II screen to get excellent stock trades, d) your sources of information, e) your ability to plan well in advance so that you have a game plan each day, f) your skill in following the ten tasks of trading, g) your knowledge of yourself and your strengths and weaknesses. This is just a sample of the possible edges that you might have over the average trader/investor.

7) Financial Information. This section should include three parts. The first part is your budget. How much money do you have? What will the trading process cost you? The second part will be your cash flow statement. Does your plan make sense in terms of cash flow? And finally, the third part will include profit and loss statements. If you have no trading record, you need to make estimates based on historical testing and based on paper trading.

8) Worst Case Contingency Planning. Things always happen that you have not accounted for or planned for in your trading plan. How will you deal with these elements? What will you do if any of these things come up? How will you make decisions when these elements come up?
Van K. Tharp, Ph.D.

Risk Below 5% of Equity Per Trade

I intend to risk below 5% on a trade, allowing for poor executions. Occasionally I have taken losses
above that amount when major news caused a thin market to jump through my stops.
Risk no more than you can afford to lose, and also risk enough so that a win is meaningful. If there is no such amount, don’t play.

Speculate with less than 10% of your liquid net worth. Risk less than 1% of your speculative account on a trade. This tends to keep the fluctuations in the trading account small, relative to net worth. This is essential as large fluctuations can engage Fred and lead to feeling-justifying drama.
Betting more boldly produces more volatility. Good traders are familiar with both and keep their trading well within their tolerances.

I use a rule of thumb that you place less than 10% of your liquid net worth at risk and that you stop your losses at 50% of that – so you have net exposure of 5% of your liquid net worth. If you have a net worth of 1.5 million, you might have liquid net worth (cash, stocks, bonds, etc) of, say, about 500,000 (a wild guess). Then you might place $50,000 of that at risk and cut your loss if you lose $25,000.
The idea is to keep the venture below your threshold of financial importance, so nominal ups and downs do not trigger your emotional uncle point and motivate you to abandon the venture during drawdowns.
ED Sykota

7 dirty words of trading.

Be careful how you use the following words and phrases as they become road blocks or worse take you down the wrong path.

Should- Phrases include: “The market should have” and “I should have”. Those phrases are often used to socialize losses. They are a strong signal something is off. They should be used to aid you in correcting your vision not make you feel better.

Must- Phrases include: “The market must…”, “I must make money”, or “I must trade”. The market does not have to do anything and either do you. When you use the word “must” it is hardly ever from a position of strength. The market knows when you are desperate and will take full advantage of you. Keeping your expenses as low as possible will make it easier to not make those statements.

Will- Phrases include: “The market will..” and “I will make money”. Once again the market does not like to be told what to do. It is the bratty kid screaming at the tops of his lungs. The word “will” relaxes your mind, similar to “should”, people use it to be lazy instead of a black background in an otherwise light picture. You can do everything right and still lose money. That is why trading is so effective at diminishing confidence. In most every activity, if you do everything right you are going to get the desired result. Doing the “right” things is bare minimum. Of course, over time you will get paid for doing the right things but it is never when you think it should be and hardly how much you anticipated.

Won’t- Phrases include: “The market won’t…” or “I won’t make money”. Notice a theme here? You are part of the market, you are not the market. Not getting what you expect, even if it is positive, confuses the brain. If you expect to lose and don’t it is still a bad outcome. The market is a one way walkie talkie, you listen, it talks.

Can’t- Phrases include: “The market can’t..” or “I can’t…” or “I can’t lose anymore”. Yes the market can, go look at a chart. Go look at a Fed day or about any chart from 2008. Not only can it happen, it does happen. There are no more once in a lifetime moves in the market. There are and always have been life changing moves. No one ever said trading was easy but at least in the case of futures someone is taking your money. If you think you can’t, you probably wont. The market will take every penny you have. If can take every penny you put at risk. Fix the problem, when you run out of money it is too late.

Impossible – Phrase includes: “It is impossible to make money”. Once again someone, somewhere is making money. It may not end up being an efficient use of your time or capital but it is possible. You are substituting an excuse for execution.

Sense – Phrase includes: “The market does not make sense”. Many fortunes are made in an illogical market. Logic is a bigger driver than risk controls for most people. It is easier to ignore your P/L when you can see or touch the catalysis. For example, it is cold buy natural gas. By the time you change your view or are forced to change, the market flips. Logic will eventually prevail, with or without you.
Eli Radke

“Buffett, already an extraordinarily successful investor, came to Berkshire uniquely prepared for allocating capital. Most CEOs are limited by prior experience to investment opportunities within their own industry – they are hedgehogs. Buffett, in contrast, by virtue of his prior experience evaluating investments in a wide variety of securities and industries, was a classic fox and had the advantage of choosing from a much wider menu of allocation options, including the purchase of private companies and publicly traded stocks… Buffett does not spend significant time on traditional due diligence and arrives at deals with extraordinary speed, often within a few days of first contact. He never visits operating facilities and rarely meets with management before deciding on an acquisition.”

– excerpt from “The Outsiders: Eight Unconventional CEOs,” via Seeking Wisdom
As the saying goes, the fox knows many things while the hedgehog knows one thing. The hedgehog trait is typically emphasized as superior – the ability to stick to one’s knitting, stay focused, and otherwise not be distracted.

So I was surprised to see great CEOs and capital allocators (like Buffett) classified as foxes rather than hedgehogs. But on reflection it makes perfect sense. The best CEOs – and the best traders in our opinion – are “patient foxes:” They possess the ability to see many things, but the patience to only do a few things. This is a rare combination of traits in a single individual. Usually you find one (wide-ranging opportunity awareness) or the other (ample patience), but not an intertwining of both.

Poker is instructive here too. In the poker room you will find many “hyperactive foxes” – players with all kinds of angles and moves, constantly put in play – and stone-cold “rocks,” i.e. guys with dust on their chips who only play super-premium hands.

Both of these extremes have deep embedded weaknesses. The hyperactive fox burns up his chips on rake, tokes, excessive volatility, and dubious EV slippage as a result of chasing too many marginal opportunities. The rock, meanwhile, fails to exploit a wide enough array of opportunities to justify the seat. (The conventional rock strategy is always long-run unprofitable, by the way — it doesn’t cover the vig.) The “patient fox,” though, has the ability to wait – demonstrating vigilant inaction – while acting skillfully and forcefully in the right windows.

Are you a “patient fox” in your trading? How about in your business if you run one, or career if you have one? Would working to become more so improve your results?
JS

Best Practices in Trading: Developing a Framework for Good Trading

Too many traders justify poor trading and overtrading by appealing to “intuition”. There’s no question that intuition and implicit learning are cornerstones of pattern recognition. That doesn’t mean, however, that any trade one feels like putting on is a good trade! Intuition is the result of extensive exposure to a field. Without prolonged immersion and study, there is no building of pattern recognition skills.

An effective way of ensuring that your trading truly represents sound trading is to construct a framework for your good trades that captures their essential elements. Today’s best practice comes from reader Awais Bokhari, the co-founder and CEO of the OpenTrader training program and the eminiplayer trading site. Awais has been involved in training over 1000 traders, so he has worthwhile insights into the building of trading skills. He describes the trading framework he employs to aid execution and screen for valid trade ideas:

“After working with numerous traders, one common challenge I’ve noticed is that even after they have developed a solid understanding of the market and its mechanics, they still struggle with trade execution, and can’t objectively determine the quality of a trade setup in real time. So, even after they’ve developed a good trade plan, they’re unable to execute that plan in real time.

To improve execution, I provide our students with an Execution Framework and teach them The Anatomy of a Valid Trade Idea. The concept here is to break down the trading methodology/strategy and determine the common components that are at the base of every good setup. We then track those components in a trade journal/spreadsheet with simple Yes/No values. It’s important that we’re able to measure and track each component objectively. This means we can’t include or track anything that relies on intuition.
For our discretionary trading methodology, we follow four key components that make up a valid trade idea:

1. Good Trade Location: For a majority of trade setups, trade location is going to be important. In many situations, trade location alone can be enough of a reason to enter a trade. To make this an objective determination, you simply answer whether you took the trade at a predetermined support/resistance zone.

2. Intraday Control/Bias (short term directional bias): We can assess which side is in control on the day time frame by seeing where the market is trading in relation to the first hour high/low, midpoint, VWAP, VPOC (volume point of control), overnight high/low, and previous day’s high/low. Trades in the direction of the intraday control have a higher probability of reaching their profit targets. When entering a trade that is counter to the intraday control, you should be more conservative with your trade location.

3. Momentum: We gauge momentum by monitoring the NYSE TICK in conjunction with price action. Trades in the direction of momentum have a higher probability of reaching their profit targets. When entering a trade that is counter to momentum, you should generally be more conservative with your trade location.

4. Larger Time Frame Control/Bias (trend): For the purpose of day trading, we assess the larger time frame control based on the 30-minute and daily charts. Trades in the direction of the larger time frame have a higher probability of reaching their profit targets. And, again, trades that are counter to the larger time frame/trend should usually be taken at more conservative trade location.

Confluence: These four key components make up a valid trade idea. The more of these you stack in your favor, the higher the odds of the setup working out. As a rule, at least two of these components should be in your favor on every trade.

Reward-to-Risk: R/R is used as a filter and is a prerequisite to entering any trade. Because R/R is subjective and every single trade must meet our minimum R/R criterion of 2:1, R/R can never be used as the only reason to enter a trade. It is necessary, but not sufficient on its own.

We’ve found that this execution framework allows our traders to be more objective and quickly determine the quality of a trade setup in real time. Another benefit is that it allows the trader to objective assess trades at the the end of the day.”
Brett Steenbarger

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Prospect Capital Corporation (NASDAQ:PSEC) A stock with a very good monthly dividend. Prospect Capital Corporation is a leading publicly-traded Business Development Company (“BDC”). We make debt and equity investments in U.S. middle market businesses across a range of industries, and seek to deliver steady, attractive returns to our shareholders.

N.B. I wrote this article in 2017, but in  these days I updated it. Find out more at Yahoo Finance or at the Prospect Capital Corporation official website. Thanks.

Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.

It also makes real estate investments particularly in multi-family residential real estate asset class. The fund makes secured debt, senior debt, senior and secured term loans, unitranche debt, first-lien and second lien, private debt, private equity, mezzanine debt, and equity investments in private and microcap public businesses. It focuses on both primary origination and secondary loans/portfolios and invests in situations like debt financings for private equity sponsors, acquisitions, dividend recapitalizations, growth financings, bridge loans, cash flow term loans, real estate financings/investments. It also focuses on investing in small-sized and medium-sized private companies rather than large public companies.

The fund typically invests across all industry sectors, with a particular expertise in the energy and industrial sectors. It invests in aerospace and defense, chemicals, conglomerate services, consumer services, ecological, electronics, financial services, machinery, manufacturing, media, pharmaceuticals, retail, software, specialty minerals, textiles and leather, transportation, oil and gas production, coal production, materials, industrials, consumer discretionary, information technology, utilities, pipeline, storage, power generation and distribution, renewable and clean energy, oilfield services, healthcare, food and beverage, education, business services, and other select sectors.

It prefers to invest in the United States and Canada. The fund seeks to invest between $10 million to $500 million per transaction in companies with EBITDA between $5 million and $150 million, sales value between $25 million and $500 million, and enterprise value between $5 million and $1000 million. It fund also co-invests for larger deals. The fund seeks control acquisitions by providing multiple levels of the capital structure. The fund focuses on sole, agented, club, or syndicated deals.

https://www.prospectstreet.com/

Why Invest in Prospect?

Prospect Capital Corporation is among the oldest and largest BDCs. Throughout our 20 years as a public company, we have provided consistent returns to our shareholders through our disciplined approach to investing in the U.S. middle market.

Attractive Dividend Yield

PSEC is a yield-oriented investor and has paid a continuous, regular dividend to its investors since inception. We have declared dividends to common shareholders totaling $4.3 billion, since our 2004 IPO1. We have also declared 86 consecutive $0.06 per share dividends to common shareholders.
Focus on Senior and Secured Lending

PSEC is focused on providing senior and secured term loans to U.S. middle market businesses. Of our total investments, 81% are in the form of loans secured by a first lien or other secured debt2. For the quarter ended on June 30, 2024, 89% of our total investment income was interest income on loans.
Proven Origination Strategies

Our team has developed a broad and deep network of U.S. middle market relationships over many years of investing, including extensive relationships with private equity firms, other capital providers, business owners and managers, and intermediaries.
Dividend Reinvestment Plan

We encourage any shareholder interested in participating in our dividend reinvestment plan (also known as a “DRIP” or “DRP”) to contact his or her broker to make sure such DRIP participation election has been made for the benefit of such shareholder. In making such DRIP election, be sure to specify to your broker the desire to participate in the “Prospect Capital Corporation DRIP plan through DTC” that issues shares based on 95% of the market price (a 5% discount to the market price), and not the broker’s own “synthetic DRIP” plan with 0% discount.
Broad Investment Portfolio

Since its 2004 IPO, PSEC has made over 400 investments totaling 20.9 billion of capital with 117 current portfolio companies spanning 35 separate industries.
Large and Experienced Team

We cover the U.S. middle market with a team of over 120 professionals with experience investing across a range of industries and through multiple economic and investing cycles, with offices in New York, Florida, and Connecticut. Our investment professionals are supported by a dedicated team of attorneys, accountants, and other specialists.
Conservative, Strong Capitalization

With $7.9 billion of assets, PSEC is among the largest of the BDCs. We benefit from a strong balance sheet with long-term matched-book funding, reasonable leverage, and a high level of unencumbered assets. As affirmation of our financial profile, we have investment grade ratings from S&P, Moody’s, Kroll, DBRS, and Egan-Jones. Management and affiliates of Prospect own 26% of outstanding PSEC shares as of June 30, 2024, so we are very much aligned with our shareholders.
Direct Stock Purchase Plan

Prospect Capital Corporation offers the opportunity to directly purchase its stock through a Direct Stock Purchase Plan administered by Equiniti Trust Company, LLC.

Prospect Capital Corporation Upsizes Preferred Stock Offering to $2.25 Billion
10/21/2024

NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) — Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) announced today an upsize to Prospect’s preferred stock offering (the “Preferred Stock” or the “Offering”) with Preferred Capital Securities (”PCS”). The Offering has seen strong demand from the private wealth, institutional, and Registered Investment Advisor channels, with $1.8 billion in aggregate liquidation preference issuances since the initial closing in the quarter ending December 31, 2020.

“Prospect’s non-traded preferred stock offers investors recurring cash income with a stable stated value, ongoing liquidity, management alignment, leverage caps, and over $3.7 billion of junior common equity credit support,” said Grier Eliasek, President of Prospect. “Prospect is the number one market share issuer of non-traded preferred stock in 2023 and 2024 year-to-date, with each of institutional, registered investment advisor, wirehouse, independent private wealth, and international investor channels having invested in Prospect’s preferred stock. With interest rates declining, we believe our A4/M4 preferred stock series, with a current 7.28% annualized floating rate dividend structure and 6.50% dividend rate floor, offers an attractive option for income-oriented investors.”

PCS is a securities broker dealer and the dealer manager for the ongoing offering of the Series A4 and M4 Preferred Stock. PCS has raised $5.0 billion of capital since its formation in 2011.

This press release is for informational purposes and is not an offer to purchase or sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The ongoing offering of the Series A4 and M4 Preferred Stock is being made only by means of the prospectus supplement and the accompanying prospectus, copies of which may be obtained by writing to PCS at 3290 Northside Parkway NW, Suite 800, Atlanta, GA 30327. Investors are advised to carefully consider the investment objective, risks, charges and expenses of Prospect and the Preferred Stock before investment. The prospectus supplement and accompanying prospectus contain this and other important information about Prospect and the Preferred Stock and should be read carefully before investing.

Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

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Nvax (Nasdaq). «Creating tomorrow’s vaccines today». Novavax Inc (Yahoo finance) is a clinical-stage vaccine company engaged in the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants.

In April 2017 I published an article about Novavax, from that date I bought and sold the stocks of the company several times, but without success. Then in 2020 at the start of the Covid pandemic it raised from 5$ to 290$ at the beginning of 2021, but unfortunately since I had others problems I didn’t buy it.

In the meantime the company has changed a lot, and on May 10, 2024 Sanofi and Novavax announce co-exclusive licensing agreement to co-commercialize COVID-19 vaccine and develop novel flu-COVID-19 combination vaccines.

This is the new profile of the company.

We are a biotechnology company, with more than 1,545 employees, committed to helping to address serious infectious diseases globally through the discovery, development and delivery of innovative vaccines to patients around the world. We never rest in our quest to protect the health of people everywhere.

Novavax is here to make a difference. We’re a biotech company focused on developing life-saving vaccines to fight infectious diseases. We use solid science tested by decades of research to develop vaccines. We seek and encourage meaningful partnerships and collaborations with leading biopharma organizations, research institutions, government agencies and foundations.

The power & speed of nanoparticle technology

Our vaccine technology combines power and speed with the immunogenicity-enhancing properties of our Matrix-M adjuvant to efficiently produce highly immunogenic particles targeting some of the most pressing viral infectious diseases.

Our people & culture

Our team is experienced, compassionate, and focused on the future of vaccine development. While growing rapidly, we maintain that small company culture.

Our Partners

We seek and encourage meaningful partnerships and collaborations with leading biopharma organizations, research institutions, government agencies and foundations.

Novavax in Europe

Novavax AB
Novavax AB is headquartered in Uppsala, Sweden. This site is responsible for the research, development and manufacturing of our saponin adjuvants. Our Matrix-MTM is used in several vaccine candidates to enhance the immune response and stimulate high levels of neutralizing antibodies.

Novavax CZ
In 2020, Novavax CZ was established, located in Bohumil, Czech Republic. This facility is an advanced biologics and vaccine manufacturing campus dedicated to the production of vaccines to protect global health.

Novavax EU
Since 2022, Novavax has started to develop its commercial hubs across Europe with its main regional headquarters in Zurich, Switzerland. Additional locations have been established in Brussels, Belgium and Barcelona, Spain.

Our Headquarters:
Novavax CH GmbH
Fraumünsterstrasse 16
8001 Zürich
Switzerland

Track all markets on TradingView

 

Novavax (NVAX) Website: https://www.novavax.com  is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this vaccine maker have returned -21.2% over the past month versus the Zacks S&P 500 composite’s +4.5% change. The Zacks Medical – Biomedical and Genetics industry, to which Novavax belongs, has lost 1.5% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company’s business prospects usually make its stock ‘trending’ and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Revenue Growth Forecast

While earnings growth is arguably the most superior indicator of a company’s financial health, nothing happens as such if a business isn’t able to grow its revenues. After all, it’s nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it’s important to know a company’s potential revenue growth.

In the case of Novavax, the consensus sales estimate of $57.32 million for the current quarter points to a year-over-year change of -69.3%. The $773 million and $475.5 million estimates for the current and next fiscal years indicate changes of -21.4% and -38.5%, respectively.

 

This is a part of the old article.

Novavax Inc. is based out of Garthersburg, MD and has some 355 employees. Its CEO is Stanley Charles Erck. Novavax Inc. is a component of the Russell 2000. The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It’s maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.

Russell’s indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It’s a simple approach that gives a broad, unbiased look at the small-cap market as a whole.

We are also developing proprietary technology for the production of immune stimulating saponin-based adjuvants through our wholly owned Swedish subsidiary, Novavax AB. Our lead adjuvant, Matrix-MTM, has been successfully tested in a Phase 1/2 clinical trial for our pandemic H7N9 influenza virus-like particle (VLP) vaccine candidate, and in a Phase 1 clinical trial for our EBOV vaccine candidate. Genocea Biosciences, Inc. (Genocea) has licensed rights to our Matrix technology and has conducted Phase 2 clinical trials with its herpes simplex 2 vaccine candidate using Matrix-M.

Novavax was incorporated in 1987 under the laws of the State of Delaware. Our principal executive offices are located at 20 Firstfield Road, Gaithersburg, Maryland, 20878. Our telephone number is (240) 268-2000 and our website address is www.novavax.com.

In 2015, Novavax received a grant from the Bill & Melinda Gates Foundation to develop its vaccine in certain low and middle income countries as part of the development of its RSV F Vaccine for maternal immunization. The Bill & Melinda Gates Foundation has awarded Novavax up to $89 million to support development of the RSV F Vaccine Phase 3 clinical trial in pregnant women, planned to initiate during the first quarter of 2016. This grant will also support regulatory licensing efforts, providing a path to World Health Organization (WHO) prequalification. Upon licensure, Novavax has agreed to make the RSV F vaccine affordable and accessible to people in the developing world.  

In March 2015 the company completed a Phase I trial for its Ebola vaccine candidate.

In September 2016 the company announced that a Phase III trial of its RSV vaccine had failed to meet its endpoints, which caused its share price to fall from $8.34 to $1.40 and led the company to lay off 30% of its employees.

As of November 2016 its RSV F vaccine candidate was in three clinical trials.

Financial Summary

BRIEF: For the fiscal year ended 31 December 2016, Novavax, Inc. revenues decreased 58% to $15.4M. Net loss increased 78% to $280M. Revenues reflect Government contracts decrease of 93% to $2.2M. Higher net loss reflects General and administrative – Balancing increase of 59% to $38.5M (expense), Interest Expense increase from $241K to $13M (expense), Labor & Related Expenses in R&D increase of 65% to $11.2M (expense).

Novavax, Inc. (NASDAQ:NVAX)’s performance this year to date is -34.13%. The stock has performed -7.78% over the last seven days, -38.06% over the last thirty, and -39.42% over the last three months. Over the last six months, Novavax, Inc.’s stock has been -46.79% and -84.88% for the year.

Gaithersburg vaccine company Novavax Inc. saw its share price jump at least 26 percent Tuesday – coming within a penny of the $1 threshold for the first time in a month – following its report of narrowed first-quarter losses.

http://www.bizjournals.com/washington/news/2017/05/09/novavax-shares-jump-on-news-of-narrowed-first.html

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Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

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