Entropy, Compound and Game Theory

20250623 - Forword Successful trading is not about discovering a great strategy for making money but rather a matter of learning how to lose. p viii 20250623 - PART ONE Reminiscences of a Trader - 1 Personalizing successes sets people up for disastrous failure. p3 There is no bad guy, although some people do bad things. It's same to say that there is no "successful people, only people won a number of times". 20250623 - From Hunger - 5 20250623 - To the Real World - 11 20250623 - Wood That I Would Trade - 32 20250623 - Spectacular Speculator - 40 Jim Paul was very smart and lucky, but not wise. Is his loss partly due to lack of knowledge of statistics? What I can learn from it? 1. I could be wrong. Quite possible. 2. Never all in. 3. I don't really know what's going on. Everything I know is my imagination. Some of them are right, and some of them are wrong. No matter how smart I am, no matter how many books I read. 20250630 - The Quest - 59 Learning how not to lose...

20250528 - pt. 1. Orientation The political philosopher Francis Fukuyama......in his 1989 essay "The End of History." p29 What a joke. And with great power comes great fear of losing it. p36 Am I feared of losing, let's say, half of my asset? 20250530 - pt. 2. Five steps This is how hatred is created: two different groups, each insisting they're on the moral high ground. p53 We need an objective standards to measure it, such as median income. Rather than illusory justice or morality. Anything that improve median income, most likely to be right. "A prudent man foreseeth the evil, and hideth himself; but the simple pass on, and are punished." p62 "It's a false sense of security" p68 The most common mistake, I reckon. "A lot of people didn't think things would get any worse, " she answered. "And by that point, it was harder for Jews to leave." p71 Wishful thinking. It's like share price. We never know how high or how lo...