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Golden Bull

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The following is frome Zen and the art of poker. A worthy book for traders.All you need is to change the word poker to trading and folding to waiting :)

“Let’s go over to the casino and fold hands for four or five
“Let’s drive over to the poker parlor and see how many hands
we can stay out of.”
“Let’s go over to the riverboat and not play.”
And so on. The Western mind, generally action-oriented, recoils
at this sort of thinking; it has trouble grasping such an idea.
Indeed, it seems to go against the grain of logic. How can you
win a game you drop out of? How can you win any competition
you’re not even in? After all, isn’t being in the first step to winning?
This is what the logical side of our brain tells us. Who ever
saw a football team not take the field and win? Who ever saw a
movie where the cowboy hero was playing in a poker game and
was . . . folding? Folding? Of course not—he’s in there entering
pots, tossing in money, throwing his cards down, triumphing! He
is certainly not withdrawing from the action.
This is why it is so hard to sell the concept (especially to new
players) that over the long run the hands you fold make the hands
you do play stand out more sharply and give them more power.

At any rate, the secret to poker—at least for the majority of
players—could be summed up in three words: fold . . . a lot.
In the trading game it would mean f*ckin wait for the right setup :D

Keeping your powder dry.

I like the quote.. I've been meaning to read Zen and the Art of Poker for some time now.. think I'll pick it up.
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