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These days you see this in every facet of business (or even in life). Newsflash: It's not a play. It's not a movie. We're not on stage at the Roxy. It's just a JOB, people. Resist the temptation to think of oneself as being in summer stock or King Lear or some other "larger than life"...

Hi Charles-- Curiously enough, there is a book coming out on this very subject titled "Blink" by Malcolm Gladwell, author of the book, "The Tipping Point". Some excerpts from the article I saw: It Pays to Trust Your Gut By Daniel Terdiman | 02:00 AM...

There are some top poker players who claim that your first "read" is generally your best one-- and to go with it. Not sure if this applies to trading, but I thought I'd throw it out as an idea. Larry Phillips

In the World Series of Poker main event this past year ($10,000 buy-in) there were 2600 entrants. A great percentage of this number (maybe 2,000) were amateurs, recreational players, semi-pros, and people who qualified by playing online. Many of the top pros went into this situation basically...

The exact same thing happens in poker. Things start going overly well and we start getting a little too "full of ourselves" and self-inflating our view of the way things are going to be, and our abilities, and there is usually something waiting around the next corner to bring us back to earth...

Hi William-- You probably know more about the subject at this point than I do-- I read it all, the whole shinola, but it was some time ago now. (I was going to mention, anybody who wants to read about practical uses of Buddhism, should pick up a copy of basketball coach Phil Jackson's...

Hm. Interesting responses. I liked Sulong's "when I feel stressful, it's usually when I'm attempting to take in too much information". I'd say that describes me, too. When you go "beyond your resources", when you try to do too much. It also reminds me of the definition of Karma. Most...

There are a number of ways to look at this. Uppermost should always be, not whether you are winning or losing, but the "process". (By which I mean, YOUR process-- because it is the process that is going to get things done in the long run, just like in trading). The top players will tell you...

Say, I've got a question for you traders, if anybody would like to answer. The question is this: Is there a lot of stress (n trading)-- and in what specific ways does it manifest itself (on a personal level)? Thanks in advance, Larry Phillips

Yup, poker is the same. You position yourself as a favorite to win, do all the things that over the long run will win, but there is no guarantee (in the particular short-run instance) that you will win. Larry P.

You might have pointed out that (A) you were just as likely to have taken a card off that he DIDN'T want to come up-- a situation, in fact, that had probably already happened in an earlier hand. (I.E., "I didn't hear you complaining a minute ago, when you needed a small card to come up to keep...

The central conundrum about complaining and whining is that it feels good. It really does get it "off your chest". Unfortunately, at a price-- you becoming known as a loser and a whiner. I've sat in a poker game some nights getting bad cards and losing all night long, but because I never...

Hi, William. Yeah, the worst thing is that being nasty and rude might start working for you. Then it gets reinforced and you start using it all the time. Be nice to ourselves and others with our short time being here. Good idea. And what's more, it's just simpler and takes a...

Thanks, William

Not sure. I know they have a Gambling Research Studies Center, and occasionally offer courses in sports betting and other gambling related activities. And whenever a new casino is being proposed anywhere, they-- pro and con-- always seem to cite various gambling studies from UNLV, so they must...

Thanks-- and sorry for the poor formatting of my replies-- they tend to blend together into the previous post, indistinguishable and hard to read. How do you set them apart when posting a reply? As for the poker player in question, I don't recognize him, but probably would know him if I...

(CONT-) Page 60 If a stock doesn’t act right don’t touch it; because being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit. I think this is generally true of most situations. Avoid situations...

Hey William-- Happy Holidays The post below is taken from the ET thread "Reminiscences of a It always was sitting. Got that? My sitting tight!" which was made famous by Jack Schwager... It is the waiting for the right opportunities that makes the big money. This is exactly the...

Hey, Mike. The title of the book was "Ernest Hemingway On Writing". Can't remember if that particular quote was in there or not. Best, Larry Phillips

Aha! Sitting tight! Exactly well put. --Happy Holidays to all. Larry P.