Entry in progress—B.P.
The Day Trader’s Manual:
Theory, Art, and Science of Profitable Short-Term Investing
By William F. Eng
New York, NY: Wiley
Short option positions will generate premium erosion on a constant basis; the few times that premiums do not erode, they explode with a vengeance. (The saying in the trading business goes as follows: Eat like a bird, excrete like an elephant.
The Mind of a Trader:
Lessons in Trading Strategy from the World’s Leading Traders
By Alpesh B. Patel
London, England: FT Pitman
You can’t eat like a bird and s*** like an elephant.
A Complete Guide to Technical Trading Tactics:
How to Profit Using Pivot Point, Candlesticks & Other Indicators
By John L. Person
Hoboken, NJ: John Wiley & Sons, Inc.
If you are wrong too often and do not see some profitable results or you have the “eat like a bird and crap like an elephant” syndrome (when a trader takes extremely small profits and lets devastating losers ride), stop trading.
Silver reminds me of the old saying… Commodities eat like a bird and dump like an elephant. $SI_F
11:56 AM - 4 May 2011
Chronicles of a Million Dollar Trader:
My Road, Valleys, and Peaks to Final Trading Victory
By Don Miller
Hoboken, NJ: John WIley & Sons, Inc.
Pg. ? (January 29, 2010):
Of course, the old adage that traders can’t eat like a bird and poop like an elephant remains valid, so the consistency during the rest of the time has to be able to offset the messes.
New York City • Banking/Finance/Insurance • Saturday, November 15, 2014 • Permalink