Friday, April 15, 2011

Maybank Malaysian Open golf

Fresh from his disastrous last round at the US Masters, Rory McIlroy is now in 2nd position in the second round. US Masters champion Charles Schwartzel from S Africa and World No 1 Martin Kaymer is in the field too. Notice how one cannot stay no 1 forever. There was a trader, who leased the seat to trade as a local made RM3m over 2 years trading the fkli futures.... too much arrogance and overspending plus failure of the 'using size to muscle the market' resulted in the trader now even trying to save on office rent by moving home and trade small. A fall from grace that befall many who thought they were stars.

If you look at golf, the dominant player of the last decade was Tiger Woods, being no 1 for many years.... now he is in decline, not having wo a tournament for over a ear... and ranking drops to no 5. As in sports, peak performers in trading, if they get cocky and arrogant, will decline into poor performers.

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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From Dragons and Bulls by Stanley Kroll
Introduction and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system