Some of my favorite quotes

• Most traders take a good system and destroy it by trying to make it into a perfect system.


• "The key is consistency and discipline. Almost anybody can make up a list of rules that are 80% as good as what we taught. What they can't do is give (people) the confidence to stick to those rules even when things are going bad." Richard Dennis, on Turtle Trading


• "Experienced traders control risk, inexperienced traders chase gains." -Alan Farley


• "The market can remain irrational longer than you can remain solvent" - John Maynard Keynes


• "There are only 3 rules...Rule number 1:- Don't lose money. Rule number 2:- don't forget rule number 1. Rule number 3:- the only thing you should be holding overnight is your dick." Trader Jack

quote:

---

Originally posted by day trading

I wonder why they are all named after "birds"?

-1 = birdie
-2 = eagle
-3 = albatross

---

quote:

---

The term 'birdie', by contrast, can be attributed to an individual, Ab Smith, who hit his approach to within inches on a par four hole at Atlantic City CC in 1903 and declared: 'That was a bird of a shot.' When he holed the putt, he and his two playing companions agreed that the word 'birdie' should describe his play of the hole.

From here, it is not surprising that the bird theme continued and using 'eagle' to describe a score of two-under par on a hole would seem natural to the Americans, for whom the bird is their national emblem. Because it is a big bird, it seems again a natural progression to look for even bigger (and rarer) bird to describe the most uncommon species of all, an albatross, or score of three-under par on a hole. When Gene Sarazen made the most famous albatross ever, by holing out in two at Augusta National's 15 th on his way to winning the second ever Masters in 1935, he referred to it as a 'dodo', so it would seem that the term albatross was not in common use until quite recently. Americans some times refer to it as a 'double eagle' but that should surely be four-under par, not three?

---