What can average talented investors learn from above and how can mistakes listed above be avoided? The following key points can be learned from some of most successful Trader Legends:

ØEach investor has its own personality. Some of investor have a very aggressive trading style and are trading very frequently. Some prefer stocks as other are more risk oriented and invest in options. Others want only spend a minimum of effort. An investor need to reflect on his profile and choose a trading approach which fits his personality.

ØA trade needs to be completely planned in advance. People plan a lot of their activities, e.g. when they go on holiday, when they move house etc. But do they have a plan when they invest? An investor needs to have a system that helps him to be prepared for all scenarios of a trade. One needs to know in advance when to buy, how much to buy, when to exit. Once a trade is executed price of instrument (stock, option, bond etc.) cannot be influenced by normal private investor anymore.

ØThe most important component of a trading system is Money Management? Surprised? Lots of investors and traders spend most of their time developing a very sophisticated trade entry system. But entry strategy contributes only approximately 15% to success of a Trading System based on academic studies. The most important question of a Trading System is how much to invest and how many positions to trade at same time.

ØA ‘can do’ attitude is required to trade successfully. 99% of world’s population probably has this dream of being financially free, but only 5% have reached it. Why? Because with phrases like “…it would be great, but I can’t…” or “…one day perhaps I will win in lottery, but until then I must work hard…” they have already lost.

For more information and a complete Stock Trading System based on a modified Nicolas Darvas approach, see my web site shown above.

You may freely reprint this article on your website or in your newsletter provided this courtesy notice and author name and URL remain intact.

Tom Meier

Equifax PO Box 740241 Atlanta, GA 03074-0241 (800) 685-1111

Experian PO Box 2104 Allen, TX 75013-2104 (888) EXPERIAN (888-397-3742)

Trans Union PO Box 1000 Chester, PA 19022 (800) 916-8800

I would advise you to visit below link to find out exactly how to obtain your credit report:

http://www.pueblo.gsa.gov/cic_text/money/fair-credit/fair-crd.htm

Having knowledge of your rights under Fair Credit Reporting Act (FCRA)can save you a lot of time and trouble when you apply for credit. The following explains these rights.

(Copied from Federal Trade Commission web site) ---------------------------------------------------------------- Your Credit Report Your credit payment history is recorded in a file or report. These files or reports are maintained and sold by "consumer reporting agencies" (CRAs). One type of CRA is commonly known as a credit bureau. You have a credit record on file at a credit bureau if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains information about your income, debts, and credit payment history. It also indicates whether you have been sued, arrested, or have filed for bankruptcy.

The Fair Credit Reporting Act (FCRA) is designed to help ensure that CRAs furnish correct and complete information to businesses to use when evaluating your application.

Your rights under Fair Credit Reporting Act:

~~You have right to receive a copy of your credit report. The copy of your report must contain all of information in your file at time of your request. ~~You have right to know name of anyone who received your credit report in last ~~year for most purposes or in last two years for employment purposes. ~~Any company that denies your application must supply name and address of CRA they contacted, provided denial was based on information given by CRA. ~~You have right to a free copy of your credit report when your application is denied because of information supplied by CRA. Your request must be made within 60 days of receiving your denial notice. ~~If you contest completeness or accuracy of information in your report, you should file a dispute with CRA and with company that furnished information to CRA. Both CRA and furnisher of information are legally obligated to reinvestigate your dispute. ~~You have a right to add a summary explanation to your credit report if your dispute is not resolved to your satisfaction. ----------------------------------------------------------------

If you believe that your rights have been violated under one of these laws you can file a complaint with Federal Trade Commission online at: https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01

While these laws won't eliminate your obligation to pay your just debts they can prevent debt collectors and others from taking advantage of you.