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12 Great Chess Quotes For Traders

  
  Education
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Some great chess quotes from Garry Kasparov that can apply to chess, trading, or life.chess-trading

  1. You must know what questions to ask and ask them frequently. Questions are what matters. Questions, and discovering the right ones, are the key to staying on course.
  2. The top achievers believe in themselves and their plans, and they work constantly to ensure those plans are worthy of their belief.
  3. Personal style is not generic software that you can download. You must instead recognize what works best for you and then, through trial and error, develop your own method- your own map.
  4. We must also avoid being distracted from our strategic path by the competition.
  5. Play the opening like a book, the middle game like a magician, and the endgame like a machine.
  6. You may learn much more from a game you lose than from a game you win.  You will have to lose hundreds of games before becoming a good player.
  7. Chess is everything: art, science, and sport. (more…)

Chess and Trading

  
  Education
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Many a trading firm looks for a history of athletic participation in the search for trading talent.  While athletics, as performance domains, share some characteristics with portfolio management and trading, the overlap is far from perfect.  Both athletics and trading are competitive activities, and both require practice and disciplined performance.  It is not surprising that the personalities that gravitate to competitive sports are also drawn to market competition.

What differentiate athletics and trading, however, are the requisite cognitive skills.  The pattern recognition and deep analyses typical of short-term traders and investors are not necessarily skills required of sprinters, weightlifters, baseball outfielders, or football linemen.  Many sports require rapid hand-eye coordination; not necessarily explicit decision-making under conditions of risk or uncertainty.  Across many trading firms and types of trading, I have not found a strong correlation between athletic achievement and trading success.

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