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Advice Pool - The Trading Mind
The hardest single thing for a trader is the psychologically of handling losing trades. First, we nee According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product d to recognize a very important principle in the market. This principal is known as the ‘80/20 rule’. ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in It is not a hard and fast rule, but a guideline. For traders, this means that 80% of your profits ar lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. e produced by 20% of your total trades. For most traders you would see very few really big winning tr here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe des, a moderate number of good winners, and the majority of trades would be just mediocre. The medio d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro cre sometime for many of us is that if we look at our losing trades, the same principal would apply. ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc There would be many small to moderate losers, but a few major losers that could be account breaking. easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi That is why the most important discipline that you can develop is the ability to stop out of everythi nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically g that goes against you with absolutely no emotions or second thoughts. This, I truly believe is the and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ single biggest key to successful trading. The other concept that goes along with this thought is tha ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi t you must learn to be happy when a majority of your trades are just average. Many of us start to thi ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a nk that we must be doing something wrong if we are not having huge gains on most of our trades. Since dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod we are conditioned to think that if we are not winning all the time, we are losing, it is very easy t cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin o fall into that trap. It might be a little too obvious an example, but remember that the very best p tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen rofessional baseball players, who are considered to be successful and are compensated richly for thei t? As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel r efforts, only hit the ball 3 out of every 10 times they are up to bat. While you should always look ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust to improve your game (trading), remember that a majority of your trades will not knock the ball out o y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products f the park. Trading in the market often requires a mindset that is very difficult for us to master. . As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de Along with learning everything you possibly can about the fundamental and technical side of trading, elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip spend a good portion of your training time on the psychological side of the game is important as well tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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