Archives of “February 2019” month
rssTrading Humour
You've read Ray Dalio's "Principles" book – now watch the cartoon!
Thought For A Day
Intuition Discipline Confidence Risk
Going back to the roots of what ‘risk’ is all about. As I suggested rereading Justin Mamis’ passage of ‘When to Sell’ yesterday, I did reread passages of ‘The Nature of Risk’ probably my all time favourite book which was also written by Justin Mamis. Here is a small excerpt. Enjoy!
Justin Mamis: ‘The Nature of Risk’ page 80:
“Intuition although seemingly spontaneous, apparently emotional, stems from a form of “information” that has become built-in from past experience. Discipline means choosing what to do unencumbered by the fear of making a mistake. Confidence means trusting our intuition that what we “see” is what we “know.” There’s no escaping to the external, to the objective, and no standing on the shaky ground of emotions. So the question becomes, How do we create within ourselves the heroic condition of confidence wherein risk is not danger but life?
"We mortals are changeable… More apt to change our minds when right than wrong." – The Richest Man in Babylon
Machines vs Humans
Mera Bharat Mahan : 2Cr Aadhar Cards in Delhi, City's population 1.68Cr as per 2011 Census.
The "Woman" part is also a representation of a typical day trader during market hours
61 Thoughts on Strategy
1. Always change a losing game; never change a winning game.
2. Always have a plan going into a match, and a backup plan.
3. Always have a surprise to pull out all the stops.
4. Reconnoiter your opponent before the match for his strengths and weaknesses.
5. Have a general strategy against all power players, and another against all control players.
6. Analyze every match – how would you play it differently next time.
7. Keep a log of your strategies, and of the opponents.
8. Always have a customized strategy against each opponent, if possible.
9. Call a timeout whenever you skip two straight shots, or the opponent runs three straight points.
10. Keep a coach in the crowd for a second opinion. (more…)