Those that have knowledge don’t predict. Those that predict don’t have knowledge – LAO TZU
What criteria did you use to choose your latest investment? A better question would be, are you sure that you even understand the criteria?
For example, let’s say that you chose a mutual fund based on your advisors presentation of how well [...]
I would like to take this opportunity to thank our subscribers and to wish you all a wonderful and prosperous 2010.
Vince Lombardi once said, “It is a reality of life that men are competitive and the most competitive games draw the most competitive men. That’s why they are there – to compete. The object is [...]
Likeness to the truth is not the same thing as truth – SOCRATES
A set of statistics that suggest a positive expectation (a system) is quite helpful when sailing the seas of uncertainty. In fact I believe most traders need a definitive plan to assure discipline.
We need to look at the various measurements of risk and [...]
Nobody goes there anymore. It’s too crowded – YOGI BERRA
It continues to amaze me to watch the Wall Street Gurus apply scientific and fundamental logic to an illogical game. Not only does this cause traders, who buy into these scenarios, to underestimate risks, it also draws a crowd into the scenario, increasing risk further. [...]
Also interviewed in Jack Schwager’s “Market Wizards” was Dr. Van K. Tharp. Although Van is not a trader, he his very well known for his research on how stress affects human performance in the financial markets. He has developed a series of tests that help traders confront their strengths and weaknesses, with the intention to [...]
I had the pleasure of working with Jack Schwager from 1980 to 1983. At the time Jack was the Director of Commodity research at Paine Webber Jackson Curtis, Inc., and the author of the famous book “Market Wizards,” Interviews with top traders.
In the Wizards Jack interviewed successful traders like Michael Marcus, Paul Tudor Jones and [...]
History will be kind to me, for I intend to write it – WINSTON CHURCHILL
Have you ever noticed that all the Wall Street firms are within pennies of each other when forecasting earnings? Have you ever noticed that they are all wrong (and occasionally right) at the same time? I doubt seriously if this is [...]
The best things in life are unexpected – because there were no expectations – ELI KHAMAROV
Legendary trader Roy Longstreet was once asked by Intermarket Magazine, “Why have you succeeded in trading to such a degree and why do most traders fail?” Roy answered “Many major problems people have in trading are caused by their expectations [...]
If you lose hope, somehow you lose the vitality that keeps life moving, you lose that courage to be, that quality that helps you go on in spite of it all. And so today I still have a dream – MARTIN LUTHER KING JR.
Roy Longstreet, legendary commodity speculator once said, “To trade successfully, one needs [...]
Action and reaction, ebb and flow, trial and error, change- this is the rhythm of living. Out of our over-confidence, fear; out of our fear, clearer vision, and fresh hope. And out of hope, progress – BRUCE BARTON (AMERICAN CONGRESSMAN 1886-1967)
If we want to become better traders, we need to rely more on ourselves, and [...]
