Friday, July 19, 2013

Larry Hite, the billion dollar fund manager, on trading being 'Zen-like':

To me, this is a very Zen-like business, and your most valuable tool is yourself. There is a Japanese book about sword fighting whose premise is this: when you get into a sword fight,
immediately assume that you're dead so you won't have to worry about being killed. Then, all you have to worry about is making the appropriate moves. Qnce you figure out the right action, assemble the means to implement it correctly and then proceed. That is what a good
trader does. He or she sets out a programme either through the use of a computer or through some other method to achieve a designated objective. In my case, I thought that  de-emotionalizing the markets was the right way to approach the idea of consistent returns. If that is not exciting enough for some people in the business, then so be it. I don': trade for excitement; I trade for profits.'

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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