Guts, luck, fear & revenge

Continued discussion about Think BIG and Kick Ass in Business and Life

Chapter 3 is advice that mechanical systematic traders would want to avoid, although it might apply to discretionary traders. Here, Donald advises to go with your gut instincts and act on them. For mechanical systematic traders, that would lead to unplanned impulsive trades.

Chapter 4 is about creating luck. In summary: the harder you work the luckier you’ll get. Donald and Bill both have interesting stories about how this advice is applied.

Chapter 5 is entitled “Fear Factor”. The best advice in this chapter was “get the best people and do not trust them”. For traders that means getting the best trading platform and maintaining vigilance over it. Complacency could result in something as mundane as the electricity getting disconnected on your computer.

Chapter 6 is entitled “Revenge”. Donald and Bill advises to keep a list of enemies. For traders, that could means writing (and posting on the internet) reviews about brokers who screw up your account.

...continued tomorrow...

Copyright 2008 Raymond T. Lee. All rights reserved.
Leisurely e-Mini Futures Trading
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