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Sun Tzu Art of Trading

  
  Education
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suntzu“Now the general who wins a battle makes many calculations in his temple ere the battle is fought. The general who loses a battle makes but few calculations beforehand. Thus do many calculations lead to victory, and few calculations to defeat: how much more no calculation at all! It is by attention to this point that I can foresee who is likely to win or lose.”

“Ponder and deliberate before you make a move”

Think deeply and have a rational plan before you trade. Don’t act impulsively or recklessly.

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“It is the rule in war, if our forces are ten to the enemy’s one, to surround him; if five to one, to attack him; if twice as numerous, to divide our army into two. If equally matched, we can offer battle; if slightly inferior in numbers, we can avoid the enemy; if quite unequal in every way, we can flee from him.” (more…)

India's new currency symbol

  
Analysis, Education, Forex
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The new symbol of the Indian rupee is seen in this handout photograph after it was approved by India’s cabinet July 15. India’s cabinet on Thursday approved the adoption of the new symbol after holding a competition that drew more than 3,000 entries, which were evaluated by a deputy governor of the central bank as well as artists and designers.

 

The Great Trades Are Obvious

  
  Education
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The great trades don’t require predictions. The Soros trade of going short the pound in 1992 was based on something that had already happened — an ongoing deep recession that made it inevitable that the U.K. would not maintain the high interest rates required by remaining in the E.R.M. Afterward, everyone said, “That was incredibly obvious.”

“Most of the great trades are incredibly obvious. It was the same in late 2007. In my mind, it was clear that the financial system was imploding and that most market participants hadn’t noticed.”

– Colm O’ Shea, Hedge Fund Market Wizards

Do you agree that the great trades are obvious? Why do so many market participants miss what is unfolding right before their eyes?

What are the elements in your process for observing, keeping tabs on, and exploiting major macro trends?

10 Trading Rules From Paul Tudor Jones

  
  Education

1:

Don’t average down on losers.

2:

If you have a position making you uncomfortable, get out.

3:

Don’t be too concerned about where you entered a position. The real question is, are you still bullish or bearish.

4:

The most important rule is defense, not offense.

5:

Don’t be a hero, don’t have an ego.

6:

Always question yourself and your abilities. Don’t ever feel that you are very good, the second you do, you are dead.

7:

Don’t focus on making money; focus on protecting what you have.

8:

Never be macho in the market.

9:

Never overtrade.

10:

Risk control is the most important thing in trading.
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