Summary of James F. Dalton, Eric T. Jones & Robert B. Dalton’s Mind Over Markets

Sample Book Insights:

#1 One morning, Jim Kelvin, a cattle rancher from Texas, got up at 6am to prepare for the market’s open. He picked up the Wall Street Journal to see what the bank traders and brokerage analysts were saying about the foreign exchange market. He had been watching the Japanese yen closely because he felt the recent depth of coverage in the news would surely reveal some good trade opportunities.

#2 The majority of people who trade futures don’t make money. If you trade with the majority, you will only succeed as well as the average market participant, who doesn’t make money.

#3 The four levels of learning are novice, beginner, advanced beginner, and competent pianist. To become a proficient pianist, you must go beyond the note-by-note struggle and begin to achieve some continuity of melody.

#4 The final stage of skill acquisition is expertise, when the musician feels the melody and the song becomes an expression of his feeling. The mechanical aspects are fully ingrained, leaving the brain to its wonderful powers of creation. Listening to an expert musician is like peering into his thoughts and feeling the weight of his sadness or the exhilaration of his joy.