“If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill involved, it will accelerate the process of concentrating all the stakes in a few hands. Something like this happens in the market. There is a persistent overall tendency for equity to flow from the many to the few. In the long run, the majority loses. The implication for the trader is that to win you have to act like the minority. If you bring normal human habits and tendencies to trading, you'll gravitate toward the majority and inevitably lose.” IfsHumansLongEnoughHandsHappensRunningCertainGamesWinningProcessLosesNumbersPlayerHabitInvolvedSkillsNormalFlowMajorityTendenciesMinoritiesStakesLong RunsTradingEquityPersistentImplicationsParticipantsConcentratingTradersAccelerateBetting Author:William Eckhardt
“When I was a kid I would much rather have been a good baseball player or a hit with the girls, but I couldn't play ball. I couldn't dance. Luckily, the girls didn't want me. Not much I could do about that. So I started to draw and to write By the time I got to where I was attracting girls, I was already into work, and it was more important to me. Not that I wouldn't rather make love, but the work has become a habit.” WantWritingHas BeensImportantPlayKidsGirlPlayerHabitDrawsBaseballBallsWant MeMaking LoveBaseball PlayerGood Baseball Author:Shel Silverstein
“As a kid, I was a little self-conscious because I was so much taller than everyone. A bad habit of mine used to be slouching. Eventually, I realized my height was something I couldn't control, so I might as well accept it. I've certainly turned it into a positive, because without my height I probably wouldn't be as good of a tennis player. It's a gift, and I've made something of it.” WellsLittlesMadeSelfMightKidsUsedAcceptingPlayerMinesHabitConsciousI RealizedUsed To BeHeightTennisSelf ConsciousBad HabitsTennis Player Author:John Isner