Zurich Axioms - A book a friend gave me

When people know you're a trader, they can sometimes take a quite different view of what "Trading" is all about and respond with kind intent. And no explanation ever rally clarifies it. Or is ever really worth the effort.

So, when I received a copy of Max Gunther's "Zurich Axioms" I immediately...put it to one side...However, ennui and a need for 'something a little different' crept up on me and I started to read it.

I'll post just the first few.

1. Worry is not a sickness, but a sign of health. If you're not worried, you're not risking enough.
{Always play for meaningful stakes}

2. Always take your profits too soon.
{decide in advance what you want and get out when you get it}

3. When the ship starts to sink, don't pray, Jump!
{Accept small losses cheerfully as a fact of life. Expect to experience several while awaiting a large gain}

4. On Forecasts: Human behaviour cannot be predicted.
{Ignore the economists, talking heads etc.}

5. Chaos is not dangerous: until it begins to look orderly.
{Beware the Historians' trap}

I read this book a few weeks ago and I see on the paperback cover that I have are the words: "Wealth Warning: This book can make you rich". If only.

Nevertheless I found it an interesting read; I found intriguing:

'Always play for meaningful stakes'

Which interestingly goes against (as the author states) "Only bet what you can afford to lose". And I particularly like:

'Resist the allure of diversification'.

Nice to see the book mentioned. I think it is one of those bedtime reads that you can annotate quotes in (unless you lead a more interesting night life, of course).

Yeah, I've almost put it down myself a few times. Almost. But it's interesting, the juxtaposition between what (most) successful traders hold sacred and how what Gunther is saying 'could' be interpreted.

I'm not coming down on one side or the other at the moment - just keeping an open mind.

I find it (still reading it) thought provoking enough to post certain aspects up on t2w. Thanks for your response.

I'd be interested to read what one or two of these are?

I remember reading it about 20 years ago and finding it fascinating ... and that was a long time before I was even aware of "trading" at all.