How Life Imitates Chess - Garry Kasparov

Discussion in 'Psychology' started by qlai, May 18, 2019.

  1. qlai


    Everything comes at a cost. Challenging yourself in new ways inevitably leads to a few failures. At times, your instincts will all point in one direction, and that direction is dead wrong. So you err, you learn, you make fewer mistakes, you gain more confidence, you trust your instincts more readily and you continue the cycle. The result of trying anything is either success or failure. If you wish to succeed, you must brave the risk of failure.

    A well-developed intuition lets me know when I've reached a critical juncture that requires more time and special attention. As they develop, our instincts - our intuitive senses - become labor-saving and time-saving devices; they literaly cut down the time it takes to make a proper evaluation and act.

    Real success depends on detecting, evaluating, and controlling risk. Of these three things, detection is the most important and always the most difficult. Important because without it, instead of controlling risk we end up fighting to survive when the crisis hits. Difficult because it requires alertness to the most subtle changes.

    How success is measured is different for each of us. The first and most important step is realizing that the secret of success is inside.

    -- THE END ---

    P.S. Obviously my "highlights" don't do the book justice. I recently read an article where the trader picks up his old Market Wizards book he read some time ago ... few trading years later, the first thing he notices - he highlighted all the wrong things! LOL.
    #21     May 22, 2019