Nice trading quote

[Ferru123]

Punch 2 - 3.15 Curragh 'Power', 100 ticks

Not quite 100 ticks, but it drifted from about 5.0 to 7.4, so good call!

Jeff

[Zenyatta]

Jeff, the 100-tick bets I placed were set to keep in-play (they were back-to-lay in-play bets) - 'Power' won the race.

[Ferru123]

"Playing the races appears to be the one business in which men believe they can succeed without special study, special talent, or special exertion."
Pittsburgh Phil

[Zenyatta]

"The single, most important, requirement for trading profitably is information. If someone has better information than you, you're gambling without an edge, and in the long-term will lose" - Cassini, 'Green All Over'

[Euler]

“Plans fail because of what we have called tunneling, the neglect of sources of uncertainty outside the plan itself…..The unexpected almost always pushes in a single direction: higher costs and a longer time to completion. On very rare occasions, as with the Empire State Building, you get the opposite: shorter completion and lower costs—these occasions are becoming truly exceptional nowadays…..As I said earlier, we are too narrow-minded a species to consider the possibility of events straying from our mental projections, but furthermore, we are too focused on matters internal to the project to take into account external uncertainty, the “unknown unknown,” so to speak, the contents of the unread books.” –Nassim Taleb, The Black Swan

[Euler]

“Here is part of the tradeoff with diversification. You must be diversified enough to survive bad times or bad luck so that skill and good process can have the chance to pay off over the long term.” –Joel Greenblatt

[Ferru123]

'People in both baseball and the financial markets operate with beliefs and biases. To the extent that you can eliminate both and replace them with with data, you gain a clear advantage.'

John W Henry

[Ferru123]

'If you’re not prepared to be wrong, you’ll never come up with anything original'.
–Ken Robinson

[Ferru123]

'Most of us are willing to go to almost any extreme to remain losers. It keeps the cognitive dissonance down.'

Bill Williams

[Ferru123]

“I hated every minute of training, but I said, 'Don't quit. Suffer now and live the rest of your life as a champion'.” - Muhammad Ali