Hans Rosling and Ola Rosling: How Not to be Ignorant About the World

Great video about the ignorant of the general public. The problem goes much deeper than the Roslings suggested though as people in power to make decisions for the masses are as ignorant if not worse. In my opinion, the most important thing to take away from the video for traders is to understand that the world is changing very fast. Preconceived beliefs coming from many years ago may not be applicable to the world we are living in today.

Keeping with the spirit of the video, i predict what they suggested in the video to eliminate ignorance among the majority of the people will fail spectacularly, at least for now. For majority of the people whose age right now is older than 25 years old, their ability to accept ideas that are completely contradicting their deeply hardwired beliefs in world view is very low. The real hope is a long term battle to educate the younger generations so that they do not share the same ignorance like their parents and grandparents.

Jon Kabat-Zinn: How to Feel Comfortable in Your Own Skin

A good summary on the reasons for which we should learn mindfulness practice. Being able to put yourself just a tiny step away from your emotions, you can do much better mentally. For traders, it is one of the best tools to improve our trading performance. As you transform into a more mindful person, you put your reactionary emotions caused by sensory stimulations coming from trading in check. This helps you to focus more on the process of executing your trading plan itself, not the outcome of individual trades.

Adam Carroll: When Money Isn’t Real, The $10000 Experiment

This is a good video that can help explaining why transition from sim trading to trading with real money takes some planning and efforts to smooth out the process. My advice – treat sim trading as seriously as you can similar to what pilots do while in training with their flight simulators. This will make sim trading working to your advantage instead of implanting bad trading habits.