Things to memorize?

[TWD]

I've been putting together a list of things that I want to memorize. I'll carry them around with me on a paper, and memorize them during my commute. Right now I am planning on memorizing the Dow-30 stocks, and contact specifications of popular futures.

I was wondering if you guys had your own suggestions. What do you think would be useful or interesting things to add to my list of things to memorize?

 

[Ambrose Ackroyd]

Don't know ... I forgot

 

[BeginnerJoe]

1. Do not lose money
2. Don't forget 1
3. Impatience kills
4. Don't forget 3

Yes, this should do it. Good luck.

 

[timsk]

Hi TWD,
The most valuable things to memorize are those that you can't easily lay your hands on in an instant - or quickly find via a Google search. For traders, especially day traders, probably the most important thing to memorize is your trading plan, so that you can spot an opportunity the instant it arises and act upon it immediately. If your order is filled, you've then got to remember how to manage your trade. There's no use shuffling through papers looking to see whether your trading plan says hold, sell some or all of your position if price stalls at a resistance / support area. You've got to act instinctively and decisively - a bit like driving. Start by committing your rules to memory, thereafter it's practice until perfect - preferably on a demo account or possibly a live account using very small sums of money. Memorizing stuff that that you don't really need or have use for day to day isn't a great idea. Less is definitely more, IMO.

Tim.

 

[Shanghai]

I print out charts of trades whereI screwed up and put them on my wall so I don't make the same mistakes again. Not quite memorization but certainly things that I don't want to forget.

 

[forker]

What internalized better decisions for me wasn't learning what not to do but rather what works. Positive connections help me better avoid bad habits. Also there is less to learn. If you studied what not to do, you most likely have exponentially more to remember than what works.

 

[mattboffey]

Hi TWD

I think the most important thing is being able to stick to what you have memorised whilst trading, which is easier said then done.

 

[new_trader]

I've been putting together a list of things that I want to memorize. I'll carry them around with me on a paper, and memorize them during my commute. Right now I am planning on memorizing the Dow-30 stocks, and contact specifications of popular futures.
I was wondering if you guys had your own suggestions. What do you think would be useful or interesting things to add to my list of things to memorize?

At the end of an interview with Albert Einstein the reporter asked:
“Mr Einstein, would it be possible to take your phone number in case I have any further questions?”
“Certainly” replied Einstein. He picked up the phone directory and looked up his phone number, then wrote it on a slip of paper and handed it to the reporter.
Dumbfounded, the reporter said…
“You are considered to be the smartest man in the world and you can’t remember your own phone number?”
Einstein replied,
“Why should I memorize something when I know where to find it?”

Unless you are planning to win first prize in some bizarre financial pub quiz, I cannot understand why you are wasting your time committing this stuff to memory.

 

[Mr. Charts]

I would have replied,
" I don't ring myself all that often so why should I know my number....?"

 

[Mr. Charts]

5. Buy a computer - it's got a bigger and better memory........