Friday, September 16, 2011

Rule no 12 from 'The Tao of Poker'

Rule 12: If you find that playing poker is thrilling, adventurous, and
exciting, there's a good chance you may be playing it wrong.


One little- mentioned aspect of poker is that, when played correctly, it can be
slightly boring. Not boring in the usual sense of the word, but in the choice
of one's responses. These responses are pretty scripted. You get a certain
hand, you do a certain thing. Stray too far outside this predictable <<script>>
and the odds will tum against you. For this reason, if the game is
adventurous, chancy, and exciting, you may be playing it wrong. It's when
the game has a certain dreary predictability that you are beginning to play it
correctly.
Poker is fun; winning at poker can sometimes be rather tedious.

<In everything the middie course is best; ah' things in excess bring troubie». Platus


Substitute the word Poker with Trading

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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

fcpo.blogspot.com


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