240 entries under "book"

[The Japanese may often speak vaguely because of historical norms where people were beheaded when not replying as expected.]

[There's often much activity in the final minutes of a trading session as computerized signals activate based on closing prices.]

[The open is a rudder for the day and provides a first clue about direction.]

[The more anxious, the earlier they want to trade.]

[Large orders at the open or close with the intention of affecting prices are called "morning attacks" and "night attacks"]

A trend reversal signal implies that the prior trend is likely to change, but not necessarily reversing. [A car's brake lights indicate an incoming slow or stop, but not whether it will continue or reverse afterwards.]

['hammer' in Japanese is takuri, which means "gauging water's depth by feeling for the bottom"]

[harami is an old Japanese word for pregnant and used to indicate a market 'losing breath'.]

['Belt-hold' comes from sumo wrestlings yorikiri, meaning 'to push the opponent out of the ring while holding onto their belt.']

Week 4: A respite from winter

[narrative analysis] is often about nailing down the one, most important story the market wants to trade and then tracking the evolution of that story.

It is very difficult for markets to hold two competing themes in its collective hivemind at once, and so the focus oscillates back and forth instead of going in two directions at once.

Just because a narrative is well-known, that does not mean it's exhausted.

[Structure a benefit-orients mission statement like: "We help [customers] do/feel/be [benefit]."]

[Have an FAQ for busting objections.]

If the program doesn't rock your world, you'll get 100 percent of your money back, plus 20 percent for your trouble.

Trade 3: Short DOCS

Part of the reason a level might hold is that everyone believes it will hold—and so everyone puts their bids there. If you are using PhD quantum physics and homological mirror symmetry to find your tech levels, and nobody else in the known universe is, the levels you find just might not mean much in the market.

Volume spikes at a price extreme are super useful indicators that huge volume has gone through and the move was rejected or accepted by the market.

Trade 2: Short oil

People yelling “CORRELATION IS NOT CAUSATION!” in all caps are technically right but practically not very helpful. There often is no causation, but there is a ton of information contained in the correlation between assets.

If corn doubles in price, those who can switch to soy will do so, pushing the price of soy futures higher. If Doordash rips higher and now looks overvalued, investors looking for food delivery apps to invest in might buy GrubHub instead.

When a Canadian crude oil producer sells their crude, they receive USD. They need CAD to pay their employees and shareholders so after they sell their crude, they need to sell USDCAD to convert the proceeds. If the price of crude doubles, the crude producer will have twice as many USD to sell and this will weigh on USDCAD.

Trade 1: Short XAUEUR

If real rates [(yield minus inflation)] are falling and negative, that generally means that central banks are enacting extremely loose policy.

[Increasing US rates and real rates is generally bad for gold.]

Positioning	Bull Market	Bear Market
Long and increasing	Very Bullish
Long and stable	Bullish
Long but falling	BEARISH
Short and stable		Bearish
Short and getting more short		Very bearish
Short but buying back		BULLISH

When the market anticipates an upcoming event, it will tend to position in the direction of least regret.

[If XAUEUR isn't available on your platform sell XAUUSD and buy EURUSD.]

[If I make this 1% better each time, it will be 1.62x better after 49 times].

[A good rule of thumb for new traders is to set the stop loss an average day range away from the entry. If I know nothing else about a security, I do this. Anything smaller risks to be stopped out by noise.]

[Add 3 pips to stop loss for slippage.]

[Position size is the output, not input.]

[Kris realized that micro-businesses weren't a good fit as they are often run by one or two people with less resources to risk on services. Switching to multi-location owners made her offering more appealing and an easier sell.]

[Industries or movements with many fans and haters always present a good business opportunity.]

If you wanted to learn about [something, but without] surfing around, a $25 investment could solve the problem.

[Test the market with these questions: 1. Have people asked for your help? 2. Are there enough of them willing to pay for your expertise? 3. Are other businesses serving the market but without your approach?]

[Value means helping people. Giving more value means helping people more.]

[Features describe, whereas benefits are emotional.]

[Don't go crazy buying additional businesses within the first year. Focus on one and create alternate revenue streams through add-ons and premium services. Aim to develop towards half a dozen baskets for your eggs.]

[No client should be more than 15% of revenue.]

Raise your prices. Add a three-tiered price structure (low, medium, high). Add discounts for up-front payment, annual plans, and institutional versus retail pricing.

[It's easier to sell more to existing customers than find new ones, so offer a menu of add-ons to increase your average revenue per job.]

[Use leads, conversion, jobs, and average revenue to calculate annual revenue, then annual expenses to calculate annual profits.]

Most small-business owners "live in their own wallet," meaning they won't charge any higher than what they would be willing to pay. That's dumb. Let rich people pay you lots of money if they want to. You'll be surprised how often they will.

[Lead with benefits, not features.]

[Output-based metrics measure numbers you don't directly control, such as traffic, signups, revenue, growth. Activity-based metrics track things you do to influence the other numbers, such as calls made, posts published, machines in operation.]

[Ask your potential leadership hire who they would bring from their past jobs: if there's nobody, they might not have been leading much.]

[Who probably knows the business better is the previous operator or owner. If they stay involved for the first 90 days, your new operator can: shadow them to document SOPs for month 1, work alongside them for month 2, and perform everything independantly with occasional checkins for month 3, all the while refining the Operator's Playbook as a living document.]

You are one good hire from cutting your problems in half. Two good hires from a completely different company.

[When the price is too high, a wince or verbal "How am I supposed to do that?" offers your no to the problem rather than the person.]

[Most job listings start as a love-letter to "whom it may concern".]

I'll invest in you as much as you're investing in yourself.

Whenever I can pay to steal someone's ten thousand hours, I do so.

[In real estate the terms are so standardized that most people sign and date without reading them. Buying a business has no standard format.]

[Avoid fixating only on price: instead adjust the terms to give the seller more or less based on performance — control the terms, control the deal.]

[Find closing or closed businesses and propose the owners a referral percentage for each of their customers or transactions, then find an adjacent business that would pay ongoing for those warm leads. This also effectively gives them stake in your business, skin in the game.]

[If you know how to turn a failing business profitable, offer them a percentage of the upside as they let you fix it.]

[Find the best lawyers in your area by asking professionals (like accountants), wealthy friends (who often have good attorneys), and local luxury magazines (or vault.com) for their "best of" in the legal field.]

[Attorneys will give you hourly rates, but you can express the list of things you need and ask how much it would cost, then comparison shop ideally for a flat rate.]

[You may want to change lawyers if the deal is of a different type, as there's probably an appropriate specialization for each type. Mid-size firms might be easier as they probably "have a guy" for everything, but make sure to change the guy with the deal type.]

[Contracts can cost 3–25k depending on deal complexity.]

[A seller with few buyers might be willing to accept installments spread over longer terms to close faster, minimize taxes, and earn more money in the end.]

[How much opportunity there is depends on your ability to notice it.]

[Sellers sell their businesses because of death, divorce, disease, distress, dullness, departure, disagreement.]

[Features of good seller opportunities are: 1. founded 10+ years ago; 2. profit under 1 million per year; 3. little competition to buy the business; 4. brick and mortar, or highly-commoditized online; 5. owner in charge for 5+ years; 6. lacking a successor; 7. owner near retirement age; 8. not applicable for bank loans; 9. overpriced for its balance sheet; 10. financials not clean; 11. no leadership team; 12. distressed business; 13. asset sale; 14. established relationship with seller; 15. owner prefers larger exit over long-term or cash flow instead of immediate lumpsum; 16. other sources of income besides the business.]

[Be a walking billboard by: 1. telling everyone you meet that you buy businesses, and 2. asking businesses who the owner is.]

In 1940, there were forty-two workers per retiree, but that number has fallen to three to one, meaning that there are not nearly enough workers to support Social Security beneficiaries.

the key to capturing clicks is convincing people that you have the answers to their questions—that you hold the proverbial key to all the solutions. If you can over-complicate simple things loudly, people will pay attention.