Wednesday, September 14, 2011

Winers and Losers

Trading is a zero sum game. Who wins? Who loses? Brokers are like second hand car salesmen, they can tell a lot of half truths to a potential customer, just to get the customer to buy the particular used car. An example would be a certain broker Mr A, who as a broker with no regard for confidentiality and always talks about how client C made $X and how client B trades spreads and makes $y. It seems everybody is making oodles of $. But where is the other side of the story? Where are the losers' stories? This is the problem with brokers, they are not pragmatic and realistic, living in the fantasy world just to generate commission income. Sadly, no matter in which country of the world, this is the case where half truths abound in commodity markets.

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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