As traders, we all know that good discipline is essential to successful trading. What, exactly, does that mean? You could say it is the ability to implement and faithfully following a trading plan. This has proven to be
Please login to view Member Content. To inquire about membership please click here.Mike from the trading room has done a masterful job of explaining some of the important points presented in the excellent book, “Zen and the Art of Poker” by Larry Philips. I have long felt that there are significant parallels between trading and poker. Although I am not a poker player, I can respect the professional poker players’ tactics and money management.
Thank you, Mike, you make some very powerful points in the following post.
“Zen and the Art of Poker” by Larry Phillips (Penguin, 1999, $14.00)
Steve in the trading room recently recommended the books of Larry Phillips, an expert poker player and a student of Eastern philosophy, as being good texts for traders to read.
Phillips has written two books on the subject: “The Tao of Poker” and “Zen and the Art of Poker”. The first book is largely
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What I Learned This Week
1. The market has tells just like a poker player - little tendencies that foretell a significant,imminent price move. Recognizing these tells, and more importantly, acting on them, will help
Please login to view Member Content. To inquire about membership please click here.1. I am learning more and more how my success in trading is directly correlated to the extent by which I stay engaged in the markets - watching the market action closely and then
Please login to view Member Content. To inquire about membership please click here.1) Whether I have a winning day or a losing day is governed, in large measure, on whether
Please login to view Member Content. To inquire about membership please click here.One of the other traders in the Photon trading room lent me a copy of the book Napoleon’s Glance: The Secrets of Strategy by William Duggan.
In the book, the author develops a general framework for making good strategic decisions by first exploring Napoleon’s history of military accomplishments and then applying those insights to better understand the stories of other great social and military tacticians, including military leaders, suffragists, samurai, social activists, artists and more.
To the author, Napoleon’s strategic brilliance resulted from four things:
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The following is Mike’s discussion of the relevant points made in the book, How We Choose To Be Happy .
I recently read a similar book about happiness titled, Happier by a Harvard professor, Tal Ben-Shahar. He gives the most popular course at Harvard - his course on, you guessed it, happiness.
We can all agree that our lives should be filled with happiness. It sounds simple, but, of course, it is not.
Mike, thank you - Jeff
Mike’s notes On Trading and Happiness
I also recently finished a book entitled How We Choose To Be Happy by Rick Foster and Greg Hicks. In this book, the author
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