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17th Century Rules of Speculation

  
  Education
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Rules of Speculation

  1. Never advise anyone to buy/sell shares. Where guessing correctly is a form of witchcraft, council cannot be put on airs.
  2. Accept both your profits and regrets. It is best to seize what comes to hand when it comes, and not expect that your good fortune and the favorable circumstances will last.
  3. Profit in the share market is goblin treasure: at one moment it is carbuncles, the next it is coal, one moment diamonds, and the next pebbles. Sometimes, they are the tears that Aurora leaves on the sweet morning’s grass, at other times, they are just tears.
  4. He who wishes to become rich from this game much have both money and patience.

Note: these rules are from “Confusion of Confusions” by Jose de la Vega in the year 1688. Vega was a successful merchant, poet, and philanthropist residing in the 17th century Amsterdam. This book represents the oldest known hints of technical analysis and his accounts of the Dutch markets in the 17th century.

Developing a method is Hard work

  
  Education
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HARD-WORKShortcuts rarely lead to trading success. Developing your own approach requires research, observation, and thought. Expect the process to take lots of time and hard work. Expect many dead ends and multiple fail-ures before you find a successful trading approach that is right for you. Remember that you are playing against tens of thousands of profession-als. Why should you be any better? If it were that easy, there would be a lot more millionaire traders.

Forgiveness

  
  Education
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One of Napoleon’s soldiers committed a crime — the story doesn’t tell which crime — and he was sentenced to death.

On the eve of his execution, the soldier’s mother implored that the life of her son be spared.

“Dear lady, what your son did doesn’t deserve clemency.”

“I know,” said the mother, “If it deserved, it wouldn’t really mean forgiveness. Forgiving is the capacity of going beyond vengeance and justice.”

As he heard these words, Napoleon reduced the soldier’s death sentence to exile.

Stephen Hawking: Humanity Won’t Survive Another 1000 Years on Earth

  
Analysis, Education, Video
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 Theoretical physicist Stephen Hawking says that humanity won’t make it through the next 1,000 years unless we find a way to leave Earth.

 “We must continue to go into space for the future of humanity,” Mr. Hawking told an audience at the Sydney Opera House, where he appeared virtually, in holographic form. “I don’t think we will survive another 1,000 years without escaping beyond our fragile planet.”

Hawking was filmed in his office at the University of Cambridge, in the UK, and the footage was sent via San Jose for processing then on to Australia to create his image on stage.

“He’s worried about the future of the human race. You know, he thinks that human beings are, I suppose naturally aggressive,” said Professor John Webb, the director of the lecture series at the University of New South Wales that made Hawkings talk possible.

“That may have been useful at some point in the early history of humanity enabling us to find food and get a partner and things like that, but he thinks that aggression that remains with us today is now the thing that could well end up destroying us.”

“I think he’s put a time on it to make us realise we’ve got to take better control of what we’re doing.”

(more…)

"Common Sense" Rules for Traders

  
  Education

 

commonsense

  • Divide your capital into 10 equal parts, and never risk more than 1/10 of your capital on any one trade.
  • Use stop-loss orders and always protect a trade when you use a stop-loss order by using reasonable price limits.
  • Never over-trade and adhere to your risk management rules.
  • Never turn a profit into a loss. If you are using a stop-loss order, then raise your stop-loss so as to lock in a profit. (more…)
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