Talk about stretching a metaphor beyond breaking point, this book delivers. The metaphor in question goes something like this: “The Market can be likened unto a battlefield”. No arguments there; least of all from me, I’m covered in trading scars.
But based on the above, the author concludes that if the market is a battlefield, then successful traders (such as himself it should be noted) are the new age equivalent of the ancient Samurai Warriors and Knights, carving up enemies and vanquishing any foolish dumb money who dare to get in their way. The mindless herd and the Mum n Dad investors must all be mercilessly put to the sword.
Like a modern day Elric of Melbnibone, the goal of these Warriors of Wall Street is not be the Stealer of Souls but rather the Stealer of Your Money. They ride out each day into the field to seek glory armed with their two deadly weapons (fundamental and technical analysis) plus the third ingredient – advanced mind control achieved by 20 minutes of zen meditation on a Sunday.
Quote: … “They enter the fray with a focus that inspires awe in their opponents, even as the warriors cut them down. But warriors do not celebrate their victories – they remain still and focused, ready to strike and enter a fresh battle, for they know that opportunity may arise at any moment.” 1
Quote: … “The warriors can be seen standing – perhaps exhausted, but still standing – upon the battlefield with many a slain enemy lying lifeless, or in agony, around them.” 2
I dunno folks, this is all a bit too homoerotic for my liking.
You must eliminate “Human Emotion” as much as possible in this business. It is paramount to success. Unless you are adapt at predicting the future, your mind is a far weaker ally than all the tools in your toolbox.