Nice trading quote

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Euler
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Investment related, but I think it relates perfectly to trading and life in general.

Synchronicity begins where pure chance ends, with one event leading to another, like a chain reaction, but all brought about by the initial event which cannot be predicted or explained. In other words – don’t waste your time. Just have patience and make sure you’re confident about the margin of safety in each investment.
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Euler
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Ditto the above

To my knowledge there are no good records that have been built by institutions run by committee. In almost all cases the great records are the product of individuals, perhaps working together, but always within a clearly defined framework. Their names are on the door and they are quite visible to the investing public. In reality outstanding records are made by dictators, hopefully benevolent, but nonetheless dictators. And another thing, most top managers really do exchange ideas without fear or ego. They always will. I don’t think I’ve ever walked into an excellent investor’s office who hasn’t openly said “Yeah sure, here’s what I’m doing.” or, “What did you do about that one? I blew it.” We all know we aren’t always going to get it right and it’s an invaluable thing to be able to talk to others who understand.
PeterLe
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In the land of the blind, the one eyed man is king...

Advice to any newbies; just because someone is one step in front of you in terms of trading experience, it doesnt mean what they say is correct

My advice, is find your own path, or someone could (often quite innocently) send you down a cul de sac
Iron
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Joined: Fri Dec 11, 2009 10:51 pm

+1

You need to be like a scientist - listen to your peers, but think critically about what they say, then formulate your own hypotheses and test them (without being so attached to those theories that you refuse to accept evidence that you're wrong).

Anyone looking for a pro to give or sell them some magic beans that will change their fortunes could be in for a long wait...

Jeff

PS No, I'm not back - I just visited this thread as I got an email saying a post had been made. :)
PeterLe wrote:In the land of the blind, the one eyed man is king...

Advice to any newbies; just because someone is one step in front of you in terms of trading experience, it doesn't mean what they say is correct

My advice, is find your own path, or someone could (often quite innocently) send you down a cul de sac
Iron
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Joined: Fri Dec 11, 2009 10:51 pm

Sublime - https://www.youtube.com/watch?v=hAQA_29Htts

Applies to Betfair as much to Wall Street in my opinion.
Iron
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'The question everyone wants an answer to, that I always try to sidestep is “How much can I make a day”. It’s a question a dislike intently and I am usually intentionally vague.

For us, learning to trade is about execution. Learning the basics, the building blocks that will enable you to scale up your stakes to a point where you are comfortable. This is a long and arduous journey. It doesn’t happen overnight. It’s down to knowing the signals, then applying them over and over and over. Until it becomes natural.

Knowing the signals though just isn’t enough. You need mental toughness, resilience and discipline. In my experience, the traders who “make it” are the ones that want it the most. They are determined and never give up.

But once you reach that Nirvana and are on that glorious path to untold riches, that’s not the be all and end all. We are told constantly by the betting industry. “When the fun stops, stop”. It’s the strapline at the end of every advert involving any bookie. You see the gambleaware logo everywhere too.

To be honest with you. I don’t think many bookies give a flying fuck if you “put gambling before your mates”.

Gambling or trading (same thing) is destructive, make no mistake. That applies to when you are winning or losing. Ok, it’s better when you are winning, at least you can pay your bills. But winning brings its own issues.

If you are making £1k a day, after a lifetime of struggling to make ends meet. Would you readily give that up to get dragged around B&Q on a Saturday afternoon? Or to have a day out with your mates on your Motorcycle or go to a match?

There are massive choices to be made when you embark on this journey. Have I got the mental toughness to endure the hard times? Have I got the strength to resist temptation when the good times arrive?

If you can identify yourself with something I have described here and feel alone or don’t know what to do. Get help! Whether that is through the gambleaware.org
website or give us a shout (in complete confidence) it’s good to have a friend who can identify with your problem.

Stay Safe and Green'


A Betfair trading coach
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Derek27
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What's the point in having an entire post in bold?

I thought something was wrong with my screen.
Iron
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What's the point in whinging?

I'm not going to justify myself to you.

You could have PMed me if you wanted to provide constructive feedback.

Don't you think there has been enough complaining on the forum recently?

Does 'Add Foe' have the effect of blocking people? Blocking/muting is possibly the only reason I am still on Twitter, and I'd like to use that facility in this forum (even though I'm a rare visitor these days). I love vibrant discussion, but when things get heated, well, I ain't getting any younger, and there are things I'd rather do with my time...
Derek27 wrote:
Fri May 04, 2018 1:39 pm
What's the point in having an entire post in bold?

I thought something was wrong with my screen.
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Derek27
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Ferru123 wrote:
Fri May 04, 2018 1:49 pm
What's the point in whinging?

I'm not going to justify myself to you.

You could have PMed me if you wanted to provide constructive feedback.

Don't you think there has been enough complaining on the forum recently?

Does 'Add Foe' have the effect of blocking people? Blocking/muting is possibly the only reason I am still on Twitter, and I'd like to use that facility in this forum (even though I'm a rare visitor these days). I love vibrant discussion, but when things get heated, well, I ain't getting any younger, and there are things I'd rather do with my time...
Derek27 wrote:
Fri May 04, 2018 1:39 pm
What's the point in having an entire post in bold?

I thought something was wrong with my screen.
You're getting really touchy Jeff!

I wasn't whinging, I wasn't having a bash at you, it was just a brief comment and I wasn't even expecting a reply.
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ShaunWhite
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Ferru123 wrote:
Fri May 04, 2018 12:02 pm
If you are making £1k a day, after a lifetime of struggling to make ends meet. Would you readily give that up to get dragged around B&Q on a Saturday afternoon? Or to have a day out with your mates on your Motorcycle or go to a match?
Yes.

Interesting alternatives to working there, mates or a match or being 'dragged' round with your family. What happened to wanting to be with your family?

I just don't see how can people justify telling the kids that they don't want to spend time with them because you'd rather have your own idea of fun, or £1,001,000 in the bank instead of £1,000,000. Kids want your time not an extra holiday or to see you in a slightly bigger house/car/ego. I didn't care if my dad had a million or a fiver because he gave me the most valuable thing he had, time, and those memories are more precious now he's gone than how 'sucessful' he was.

Lots of guys on here are of an age where they're sadly losing parents, how many would give up a month or even a year's wages for the chance to have just one more pint with them. :cry: And that's how your children will feel about you.

My boy's visiting for the first time in 3 months this weekend, I wish it was every weekend. Fuck the money.
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jimibt
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ShaunWhite wrote:
Fri May 04, 2018 3:13 pm
Ferru123 wrote:
Fri May 04, 2018 12:02 pm
If you are making £1k a day, after a lifetime of struggling to make ends meet. Would you readily give that up to get dragged around B&Q on a Saturday afternoon? Or to have a day out with your mates on your Motorcycle or go to a match?
Yes.

Interesting alternatives to working there, mates or a match or being 'dragged' round with your family. What happened to wanting to be with your family?

I just don't see how can people justify telling the kids that they don't want to spend time with them because you'd rather have your own idea of fun, or £1,001,000 in the bank instead of £1,000,000. Kids want your time not an extra holiday or to see you in a slightly bigger house/car/ego. I didn't care if my dad had a million or a fiver because he gave me the most valuable thing he had, time, and those memories are more precious now he's gone than how 'sucessful' he was.

Lots of guys on here are of an age where they're sadly losing parents, how many would give up a month or even a year's wages for the chance to have just one more pint with them. :cry: And that's how your children will feel about you.

My boy's visiting for the first time in 3 months this weekend, I wish it was every weekend. Fuck the money.
too true... perspective means standing back. standing back means facing yourself. facing yourself means accepting your decisions... and so it goes on. as you say, place a value on the things that can't be purchased!
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ShaunWhite
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jimibt wrote:
Fri May 04, 2018 3:17 pm
too true... perspective means standing back. standing back means facing yourself. facing yourself means accepting your decisions... and so it goes on. as you say, place a value on the things that can't be purchased!
Cheers Jimi, it's easy to think you're out on a limb when you're in such a 'money comes first' environment.

I've said my piece, now I'll shut up ;)
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jimibt
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ShaunWhite wrote:
Fri May 04, 2018 3:21 pm
jimibt wrote:
Fri May 04, 2018 3:17 pm
too true... perspective means standing back. standing back means facing yourself. facing yourself means accepting your decisions... and so it goes on. as you say, place a value on the things that can't be purchased!
Cheers Jimi, it's easy to think you're out on a limb when you're in such a 'money comes first' environment.

I've said my piece, now I'll shut up ;)
yeah - rewind: https://www.youtube.com/watch?v=tUqvPJ3cbUQ
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ShaunWhite
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jimibt wrote:
Fri May 04, 2018 3:36 pm
yeah - rewind: https://www.youtube.com/watch?v=tUqvPJ3cbUQ
hehe 2nd single I ever bought, 1st was White Riot. Had to play them on my brother's Dansette because my folks thought they'd damage their 'music centre' speakers :)

Music was definately eclectic back then.
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jimibt
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ShaunWhite wrote:
Fri May 04, 2018 4:01 pm
jimibt wrote:
Fri May 04, 2018 3:36 pm
yeah - rewind: https://www.youtube.com/watch?v=tUqvPJ3cbUQ
hehe 2nd single I ever bought, 1st was White Riot. Had to play them on my brother's Dansette because my folks thought they'd damage their 'music centre' speakers :)

Music was definately eclectic back then.
time for a *what was you 1st vinyl* thread then -lol
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