Papa B
Pirahna Principle
Just one can’t kill you
Over the years I’ve developed the concept of the Piranha Principle to explain why in our modern society we feel overwhelmed and defeated despite our obvious wealth and blessing. I’ll use me as the example. I have a great wife (mamakay), five great kids, I don’t carry consumer debt, I have a great career and a job that more than covers our monthly expenses, I’m active in my church, and generally regarded as a good Christian father.
With all that, I still get worn down bit by bit by the slight annoiances of everyday life. The alarm didn’t wake me up in time, the guy in front of me didn’t pull out fast enough, the line in the super market didn’t move, the kids didn’t get the mess cleaned up, and the like. Each little thing taking a bit of me like piranha taking down a water buffalo. One piranha by itself can not kill; it’s jaws are not big enough to inflict enough damage but you let it invite 200 of its friends and then you’ve got trouble. Read on…
Trading for a Living
I just finished reading Trading for a Living: Psychology, Trading Tactics, Money Management by Alexander Elder
From Library Journal:
Soviet-born author and practicing psychiatrist Elder (director, Financial Trading Seminars, Inc.) shares his learning over the years as a professional trader and expert in technical analysis and his principle of understanding the three Ms (Mind, Method, Money)
I found Elder’s antagonistic view of the Market wearying after a few chapters. Elder’s spent a great deal of the book explaining how difficult it is to make money investing and how everyone is out to get you.
I did however find his information on money management solid and worth the read. In fact the word “slippage” has made it’s way into my family’s vocabulary because of this book.
I did however find his information on money management solid and worth the read. In fact the word “slippage” has made it’s way into my family’s vocabulary because of this book.
My major take away from this book is this: “The goal of a professional trader is to be a better trader.”