Trading

- A trader's assets: observation, experience, memory, mathematics.
- A speculator's mind: play for meaningful stakes only.
- A risk manager's attitude: always implement rigorous risk management.
- An analyst's skill: thorough understanding of markets and their interplay.
- A writer's hand: concise, convincing and elegant.

Diversification has a number of major flaws

- You are safe from just about everthing—including the danger of getting wealthy.
- You violate the speculator's mind to play for meaningful stakes only.
- You create a situation where winners and losers likely cancel each other out.
- You become a juggler trying to keep too many balls in the air all at once.

Always keep in mind

- Put your money at risk. Don't be afraid of getting hurt a little bit.
- Learn to love losses. They are part of winning big.
- When trouble shows don't hope, don't pray—get out.
- Don't lookf for patterns or order where order does not exist.
- Chaos is not dangerous until it begins to look orderly.
- Disregard all prognostications, human behavior cannot be predicted.
- There's no evidence that God has the slightest interst in your bank account.

LINKS

Andreas' Top Reading List

Financial Visualization

Mataf Forex Trading

Yahoo! Finance

Trend Following

Futures Magazine

Dams in Switzerland

Swiss Federal Office of Energy

VSE