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Words of Wisdom For Traders

“Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.” ~ Jesse LivermoreTHINKINGFUTURE

“Wealth and rank are what people desire, but unless they are obtained in the right way they may not be possessed.” ~ Confucius 

“Man has the power to act as his own destroyer—and that is the way he has acted through most of his history.” ~ Ayn Rand 

“It is no measure of health to be well adjusted to a profoundly sick society.” ~ Jiddu Krishnamurti

“Men in the game are blind to what men looking on see clearly.” ~ Chinese Proverb

“The most exquisite paradox… as soon as you give it all up, you can have it all. As long as you want power, you can’t have it. The minute you don’t want power, you’ll have more than you ever dreamed possible.” ~ Ram Dass 

“If thou wilt make a man happy, add not unto his riches but take away from his desires.” ~ Epicurus (more…)

What Is The Value Of Trading?

It’s a question that arises for many traders. So many occupations derive their nobility from contributing to the welfare of others in direct ways. Where is the nobility in trading?
In my reply, echoing Ayn Rand, I challenged the notion that nobility is solely or primarily a function of assisting others. 
In mastering risk and uncertainty; in learning to pursue opportunity in effortful ways; in making ourselves better as decision makers; in becoming more disciplined actors; we improve ourselves as human beings. That carries over to many areas of life, so that we can become better business partners, spouses, parents, and friends. 
Indeed, this might be the most important distinction between trading well and trading poorly: When we trade well, we make ourselves stronger, better; we tap into the best within us. When we trade poorly, we succumb to our lowest common denominators.
The value of trading is the value of any competitive performance activity: in its mastery, we become just a bit closer to our ideals–and that ripples throughout our lives.

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