Leading vs. Managing
The differences between leading and managing are subtle. What do you think of with these two words?
Here are some key differences annunciated in “On Becoming a Leader” by Warren Bennis:
“The manager administers; the leader innovates.
The manager focuses on systems and structure; the leader focuses on people.
The manager has his or her eye always on the bottom line; the leader’s eye is on the horizon.
The manager does things right; the leader does the right thing.”
Covey uses the analogy of a company trying to plow through the rainforest. A manager is constantly sharpening blades, researching new cutting strategies, and encouraging people to work harder. The leader climbs up the tallest tree and realizes they are in the wrong forest!
To lead you must be different. Bennis in the same book talks about effective U.S. presidents and how the good leaders were ones that didn’t do great things by dwelling on their limitations, but by “focusing on their possibilities” (Sounds a lot like the Wednesday Word on Strengths from a few weeks back!).
So I would encourage us to think and act uniquely! The most recent issue of Bloomberg mentioned a man who offers a few high school students $100k to skip college and start a business. A little extreme perhaps, but he’s doing things differently. If all that college has taught us is to think the “right way” or similar to everyone else, has our education really been worthwhile? Let me know what you think.
Source: Will May
Here are some key differences annunciated in “On Becoming a Leader” by Warren Bennis:
“The manager administers; the leader innovates.
The manager focuses on systems and structure; the leader focuses on people.
The manager has his or her eye always on the bottom line; the leader’s eye is on the horizon.
The manager does things right; the leader does the right thing.”
Covey uses the analogy of a company trying to plow through the rainforest. A manager is constantly sharpening blades, researching new cutting strategies, and encouraging people to work harder. The leader climbs up the tallest tree and realizes they are in the wrong forest!
To lead you must be different. Bennis in the same book talks about effective U.S. presidents and how the good leaders were ones that didn’t do great things by dwelling on their limitations, but by “focusing on their possibilities” (Sounds a lot like the Wednesday Word on Strengths from a few weeks back!).
So I would encourage us to think and act uniquely! The most recent issue of Bloomberg mentioned a man who offers a few high school students $100k to skip college and start a business. A little extreme perhaps, but he’s doing things differently. If all that college has taught us is to think the “right way” or similar to everyone else, has our education really been worthwhile? Let me know what you think.
Source: Will May
How To Read A Candlestick Chart
Candlestick charts are one of the two most popular trading charts, because of the range of trading information that they represent, and their ease of reading and interpretation.
Candlestick charts consist of a wide vertical line, and a narrow vertical line. Each candlestick includes the open, high, low, and close, of the timeframe, and also shows the direction (upward or downward), and the range of the timeframe.
Candlestick charts are read and interpreted during trading as follows:
Difficulty: Easy
Time Required: 5 Minutes
Here's How:
Open - The open is the first price traded during the candlestick, and is indicated by either the top or bottom of the wide vertical line (the bottom for an upward candlestick, and the top for a downward candlestick). In the example chart, the upward candlesticks are colored green, and the downward candlesticks are colored red.
High - The high is the highest price traded during the candlestick, and is indicated by the top of the thin vertical bar (the wick of the candlestick).
Low - The low is the lowest price traded during the candlestick, and is indicated by the bottom of the thin vertical bar (the upside down wick of the candlestick).
Close - The close is the last price traded during the candlestick, and is indicated by either the top or bottom of the wide vertical line (the top for an upward candlestick, and the bottom for a downward candlestick). In the example chart, the upward candlesticks are colored green, and the downward candlesticks are colored red.
Direction - The direction of the candlestick is indicated by the color of the candlestick (specifically the wide vertical line). Usually, if the candlestick is green, the candlestick is an upward candlestick, and if the candlestick is red, the candlestick is a downward candlestick, but these colors can usually be customized. In the example chart, the upward candlesticks are colored green, and the downward candlesticks are colored red.
Range - The range of the candlestick is indicated by the locations of the top and bottom of the thin vertical line (the wicks). The range is calculated by subtracting the low from the high (Range = High - Low).
Source: About.com
Candlestick charts consist of a wide vertical line, and a narrow vertical line. Each candlestick includes the open, high, low, and close, of the timeframe, and also shows the direction (upward or downward), and the range of the timeframe.
Candlestick charts are read and interpreted during trading as follows:
Difficulty: Easy
Time Required: 5 Minutes
Here's How:
Open - The open is the first price traded during the candlestick, and is indicated by either the top or bottom of the wide vertical line (the bottom for an upward candlestick, and the top for a downward candlestick). In the example chart, the upward candlesticks are colored green, and the downward candlesticks are colored red.
High - The high is the highest price traded during the candlestick, and is indicated by the top of the thin vertical bar (the wick of the candlestick).
Low - The low is the lowest price traded during the candlestick, and is indicated by the bottom of the thin vertical bar (the upside down wick of the candlestick).
Close - The close is the last price traded during the candlestick, and is indicated by either the top or bottom of the wide vertical line (the top for an upward candlestick, and the bottom for a downward candlestick). In the example chart, the upward candlesticks are colored green, and the downward candlesticks are colored red.
Direction - The direction of the candlestick is indicated by the color of the candlestick (specifically the wide vertical line). Usually, if the candlestick is green, the candlestick is an upward candlestick, and if the candlestick is red, the candlestick is a downward candlestick, but these colors can usually be customized. In the example chart, the upward candlesticks are colored green, and the downward candlesticks are colored red.
Range - The range of the candlestick is indicated by the locations of the top and bottom of the thin vertical line (the wicks). The range is calculated by subtracting the low from the high (Range = High - Low).
Source: About.com
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