Nov

10

 I have always thought of "If" by Rudyard Kipling as a fully developed trading plan. It's on my wall above my trading desk and head.

Charles Pennington writes:

Even this?!

"If you can make one heap of all your winnings
And risk it all on one turn of pitch-and-toss,
And lose, and start again at your beginnings"

That doesn't sound like a good trading plan!
 


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  1. David Rosenfeld on November 14, 2017 9:39 pm

    Please see the Part III of my poem “Nonbeliever,” the fully edited and correctly footnoted, complete version of which is available in softcover as a collection of scorched-lung libertarian poetry in “The Husbandman.” The penultimate stanza refers to the Principle of the Everchanging Cycles from “Secrets of Professional Turf Betting” that Mr. Niederhoffer used to talk about.

    III.

    Truth burns deep and long and new.
    Principles all deadwood hew.
    Knowledge heats to forge those who
    Will mold and cast their minds.

    Sprinkled over like a dust,
    A crackle of cerebral crust,
    Free men staking deals on trust
    Trade in values, right and just.

    Life is of the living born;
    Only living dead can mourn.
    That which lost, if not forlorn,
    Can, in time, all be regained.

    For that which is, so not shall be,
    Forever through Eternity.
    What will come cannot be planned
    But guided by Invisible Hand.

    This be known, if not much more,
    Gleaned from secret gambler lore:
    A way that wins is soon displaced
    Yet also by improvements graced.

    So sings this lone non-believer,
    From his vantage point no nearer
    To despair than that achiever
    Whose great glories wax no fleeter.

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