If you have never heard of or read them, the Zurich Axioms by Max Gunther is the best advice you will ever receive in regard to your trading. http://neif.org/Zurich_axioms.pdf Max has distilled the essence of what it means to be a trader and presented it in clear and concise fashion.
Yes, that's a good read. Interesting about the Swiss, I hope Bush doesn't declare war on them too. http://www.albinoblacksheep.com/flash/legos911
Most of this book is general advise like "sell early" or "take risk". Rest is some stories from the authors life. There is nothing much if you are looking for trading/ speculation insight . IMHO.
Right, Zurich Axioms is not a HOWTO manual, or offers specific technical advise. It should be viewed as a way to approach the markets from a traders perspective. That perspective should shape the way you deal with the technical and physchological aspects of trading.
i read this book a while back....very simple and good read if u look at everything in life like trading...which i tend to do....it makes a lot of sense the "pundits" always talk bout diversification and long term growth zurich stresses teh opposite......put most eggs in few baskets....make sure the odds are in your favor...and konw when to get out and move to new basket best line in the book.....if you Content wiht your size....your not trading.....bascally...ur only trading when u are uncomfortable with the position size after i read it i upped my size ...so if anything ..it'll help you get confidence to get lil bigger...which i always have a problem with (i get too content) and that in turn has lead to higher PL (and bigger swinngs..haha) d
To each his own. Everyone finds different thing in a book. To me this is an overhyped book, sometime ago it was selling for 160 USD on Amazon and was out of print. Now it has been reissued by the publisher with major hype. I am holding on to my copy for another irrational bull market in this book. There is no lack of sheeps who will buy it again few years down the road for 300 USD. The search for holy grail or promise of holy grail will exist as long as market exists.
I found it a good and motivational read just like "Rich dad poor dad". It helps to think of trading/investing/gambling on broader terms. Anyone can do way worse than spebd few bucks and little time to read it. I would definitely recommend it. Regards, redduke
It is worth reviving this thread. Encourage discussion. Axiom No. 1: Worry is not a sickness but a sign of health. IF YOU ARE NOT WORRIED, YOU ARE NOT RISKING ENOUGH. Always play for meaningful stakes. Adventure is what makes life worth living, and the way to have an adventure is to expose yourself to risk.