Friday, November 30, 2007

Some words of advice

The current Trader Monthly features several interesting articles. Johnny Chan's poker stories are always illuminating and a little piece by Doug Hirschhorn is extremely timely. An excerpt follows:
You don't need another software package. You don't need another computer. What you do need is to keep the game simple (up, down, sideways) and get comfortable with the fact that just as in daily life, we don't know what will happen next. My 92 year-old grandmother paraphrasing John Lennon often says that 'life is what happens to you when you're busy making other plans". Apply that to trading, and you get the following: "The market is what happens to you when you're trying to make money."

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