Nice trading quote

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Iron
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Naffman wrote: I seriously don't get what is being said here. Is there a typo in there because it doesn't make any sense.
I think what he's saying is that a steamer will carry on steaming unless there is money coming in for other horses, which may cause it to stop steaming (at least temporarily).

I think the gist of the quote overall is that, if a steamner hits support because other horses are being backed, but breaks through that support, then it will steam in heavily.

It's an observation you can probably use to make money, if you apply it correctly. :)

Jeff
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Euler
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Can we keep this thread on topic and discuss strategies or discussion on them elsewhere.
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Naffman
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Thanks Jeff.
oscar123
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"Dont bother putting in the long hours working hard and doing your own research, just spend all your time trolling other successful traders on internet forums and expect them to give you their secrets, edges, and the results of their hard labour for nothing."
Last edited by oscar123 on Fri Nov 28, 2014 11:04 pm, edited 1 time in total.
Iron
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Peter

Since you edited a post I wrote yesterday to remove the name of the author of the quote (even though it was correct), could you please edit the post below to remove the name of the 'author', as he wrote no such thing?

It's an out and out lie.

Jeff
oscar123 wrote:"Dont bother putting in the long hours working hard and doing your own research, just spend all your time trolling other successful traders on internet forums and expect them to give you their secrets, edges, and the results of their hard labour for nothing."

Ferru.
oscar123
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Apologies Jeff, I appear to have got myself mixed up as to who said what.

I guess i am not an ultra-advanced quote reader like you, sorry for any misunderstanding and inconvenience caused.
Iron
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'If you're in a hole, stop digging'.
Anon
oscar123 wrote:Apologies Jeff, I appear to have got myself mixed up as to who said what.

I guess i am not an ultra-advanced quote reader like you, sorry for any misunderstanding and inconvenience caused.
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Euler
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Handbags at dawn.

Let's get back to some quotes from sages and luminaries.
BabyArber
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Education is an admirable thing, but it is well to remember from time to time that nothing that is worth knowing can be taught.
Oscar Wilde
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Can things get back on track before Jeff threatens to leave again :)
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Euler
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Investment related, but I think it relates perfectly to trading and life in general.

Synchronicity begins where pure chance ends, with one event leading to another, like a chain reaction, but all brought about by the initial event which cannot be predicted or explained. In other words – don’t waste your time. Just have patience and make sure you’re confident about the margin of safety in each investment.
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Euler
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Ditto the above

To my knowledge there are no good records that have been built by institutions run by committee. In almost all cases the great records are the product of individuals, perhaps working together, but always within a clearly defined framework. Their names are on the door and they are quite visible to the investing public. In reality outstanding records are made by dictators, hopefully benevolent, but nonetheless dictators. And another thing, most top managers really do exchange ideas without fear or ego. They always will. I don’t think I’ve ever walked into an excellent investor’s office who hasn’t openly said “Yeah sure, here’s what I’m doing.” or, “What did you do about that one? I blew it.” We all know we aren’t always going to get it right and it’s an invaluable thing to be able to talk to others who understand.
PeterLe
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In the land of the blind, the one eyed man is king...

Advice to any newbies; just because someone is one step in front of you in terms of trading experience, it doesnt mean what they say is correct

My advice, is find your own path, or someone could (often quite innocently) send you down a cul de sac
Iron
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+1

You need to be like a scientist - listen to your peers, but think critically about what they say, then formulate your own hypotheses and test them (without being so attached to those theories that you refuse to accept evidence that you're wrong).

Anyone looking for a pro to give or sell them some magic beans that will change their fortunes could be in for a long wait...

Jeff

PS No, I'm not back - I just visited this thread as I got an email saying a post had been made. :)
PeterLe wrote:In the land of the blind, the one eyed man is king...

Advice to any newbies; just because someone is one step in front of you in terms of trading experience, it doesn't mean what they say is correct

My advice, is find your own path, or someone could (often quite innocently) send you down a cul de sac
Iron
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Sublime - https://www.youtube.com/watch?v=hAQA_29Htts

Applies to Betfair as much to Wall Street in my opinion.
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