Trading In The Zone Quotes

Most nights, her body was commerce. She traded vacuous affection for survival. Her wounded soul, bandaged by the deceptive nature of the Zone had served no purpose in aiding her.

Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.

Trading In The Zone – Master the Market With Confidence, Discipline and a Winning Attitude” by Mark Douglas, you would agree with me that the market is just unpredictable.

Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.

We see a major trade in women, we see the torture of women as a form of entertainment, and we see women also suffering the injury of objectification—that is to say we are dehumanized. We are treated as if we are subhuman, and that is a precondition for violence against us. I live in a country where if you film any act of humiliation or torture, and if the victim is a woman, the film is both entertainment and it is protected speech. Now that tells me something about what it means to be a woman citizen in this country, and the meaning of being second class. When your rape is entertainment, your worthlessness is absolute. You have reached the nadir of social worthlessness. The civil impact of pornography on women is staggering. It keeps us socially silent, it keeps us socially compliant, it keeps us afraid in neighborhoods; and it creates a vast hopelessness for women, a vast despair. One lives inside a nightmare of sexual abuse that is both actual and potential, and you have the great joy of knowing that your nightmare is someone else’s freedom and someone else’s fun.

The expectation that you bring with you in trading is often the greatest obstacle you will encounter.

The mind is a fascinating instrument that can make or break you.

In order to succeed, you first have to be willing to experience failure.

Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness... Paradoxically (and as an unintended consequence) your trading performance will improve significantly.

A quiet mind is able to hear intuition over fear.

When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.

The hard, cold reality of trading is that every trade has an uncertain outcome.

a greater probability of one thing happening over another. In a sense, technical analysis allows you

Don't ever make the mistake of believing that market success has to come to you fast. Trade small, stay in the game, persist, and eventually, you'll reach a satisfying level of proficiency.

I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors. 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.

the typical trader wants to be right on every single trade. He is desperately

Learning to accept the risk is a trading skill—the most important skill you can learn.

We have to be careful about what we project out into the future, because nothing else has the potential to create more unhappiness and emotional misery than an unfulfilled expectation.

A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.

Remember our definition of a winning attitude: a positive expectation of your efforts with an acceptance that whatever results you get are a perfect reflection of your level of development and what you need to learn to do better.

There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.

You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.

The process by which one accumulates money is so simple, yet so hard to implement for most.

Growth comes at the expense of comfort.

Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.

I feel that all knowledge should be in the free-trade zone. Your knowledge, my knowledge, everybody's knowledge should be made use of. I think people who refuse to use other people's knowledge are making a big mistake. Those who refuse to share their knowledge with other people are making a great mistake, because we need it all. I don't have any problem about ideas I got from other people. If I find them useful, I'll just ease them right in and make them my own.

Cheaper trade: Time zones make trade more expensive; it’s harder to do business with someone if their office hours don’t overlap with yours. If the Sun went out, it would eliminate the need for time zones, allowing us to switch to UTC and give a boost to the global economy.

Most traders have absolutely no concept of what it means to be a risk-taker in the way a successful trader thinks about risk. The best traders not only take the risk, they have also learned to accept and embrace that risk. There is a huge psychological gap between assuming you are a risk-taker because you put on trades and fully accepting the risks inherent in each trade. When you fully accept the risks, it will have profound implications on your bottom-line performance.

In other news, Aang dominates on “Are You Smarter Than the Fire Nation”. Bella Swan becomes engaged to her boyfriend of one year, Edward Cullen, and unceremoniously sends Jacob Black to the “friend zone”. Pop star Candy Cane trades her controversial career for being a housewife (which was a move that is very unpopular with many of her young fans), and Jacquel Rassenworth is still the Internet’s biggest fame-nut (cue APPLAUSE).

Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.

Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.

Trading mastery is a state of complete acceptance of probability, not a state of fight it.

Money matters, but not as much as you probably think.

You have power over how you'll respond to uncertainty.

Trading effectively is about assessing probabilities, not certainties.

Unless you learn to completely accept the possibility of an uncertain outcome, you will try either consciously or unconsciously to avoid any possibility you define as painful.

However, market analysis is not the path to consistent results. It will not solve the trading problems created by lack of confidence, lack of discipline, or improper focus.

This lack of support is not simply an absence of encouragement. It can be as deep as the outright denial of some particular way in which we want to express ourselves.

When you learn the trading skill of risk acceptance, the market will not be able to generate information that you define or interpret as painful.

The petite bourgeoise and small property in general represent a precious zone of autonomy and freedom in state systems increasingly dominated by large public and private bureaucracies.

Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.

When you learn the trading skill of risk acceptance, the market will not be able to generate information that you define or interpret as painful. If the information the market generates doesn’t have the potential to cause you emotional pain, there’s nothing to avoid. It is just information, telling you what the possibilities are. This is called an objective perspective—one that is not skewed or distorted by what you are afraid is going to happen or not happen.

Events, circumstances, and experiences arise and pass away. Winning trades, losing trades, fear, greed, sadness, happiness, and eventually your own life. Everything is in a constant flux. Learn to go through it with stability of mind. A meditation practice helps a lot.

All statistics have outliers. Money management, therefore, is key to the process of good trading.

Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.

Freedom from blind reactivity begins with self-awareness.

consistency is a state of mind that, once achieved, won’t allow you to “be” any other way.

Everyone who trades ends up learning something about the markets; very few people who trade ever learn the attitudes that are absolutely essential to becoming a consistent winner.

How do we remain disciplined, focused, and confident in the face of constant uncertainty?

Learning to accept the risk is a trading skill—the most important skill you can learn. Yet

The fact is that if traders really believed that anything could happen at any time, there would be considerably fewer losers and more consistent winners.

you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game.

They manage our perception and interpretation of environmental information in a way that is consistent with what we believe.

If you have to win, if you have to be right, if you can’t lose or can’t be wrong, you will cause yourself to define and perceive categories of market information as painful.

I am for joining a free trade zone. The European Union is not such zone, but a zone of raging bureaucracy which stears every hectolitre of wine, and every tone of beef.

One general theory for the origin of AIDS goes that, during the late nineteen-sixties, a new and lucrative business grew up in Africa, the export of primates to industrialized countries for use in medical research. Uganda was one of the biggest sources of these animals. As the monkey trade was established throughout central Africa, the native workers in the system, the monkey trappers and handlers, were exposed to large numbers of wild monkeys, some of which were carrying unusual viruses. These animals, in turn, were being jammed together in cages, exposed to one another, passing viruses back and forth. Furthermore, different species of monkeys were mixed together. It was a perfect setup for an outbreak of a virus that could jump species. It was also a natural laboratory for rapid virus evolution, and possibly it led to the creation of HIV. Did HIV crash into the human race as a result of the monkey trade?

Taking responsibility means acknowledging and accepting, at the deepest part of your identity, that you—not the market—are completely responsible for your success or failure as a trader.

So if you are afraid of being wrong or losing money, it means you will never learn enough to compensate for the negative effects these fears will have on your ability to be objective and your ability to act without hesitation.

They create our expectations. Keep in mind that an expectation is a belief projected into some future moment. Since we can’t expect something we don’t know about, we could also say that an expectation is what we know projected into some future moment.

I define random trading as poorly-planned trades or trades that are not planned at all. It is an unorganized approach that takes into consideration an unlimited set of market variables, which do not allow you to find out what works on a consistent basis and what does not.

The winners have attained a mind-set—a unique set of attitudes—that allows them to remain disciplined, focused, and, above all, confident in spite of the adverse conditions. As a result, they are no longer susceptible to the common fears and trading errors that plague everyone else.

In American terms, the accomplishment of Genghis Khan might be understood if the United States, instead of being created by a group of educated merchants or wealthy planters, had been founded by one of its illiterate slaves, who, by the sheer force of personality, charisma, and determination, liberated America from foreign rule, united the people, created an alphabet, wrote the constitution, established universal religious freedom, invented a new system of warfare, marched an army from Canada to Brazil, and opened roads of commerce in a free-trade zone that stretched across the continents.

When you genuinely accept the risks, you will be at peace with any outcome. When you’re at peace with any outcome, you will experience a carefree, objective state of mind, where you make yourself available to perceive and act upon whatever the market is offering you (from its perspective) at any given “now moment.

All of us are born into some sort of social environment. A social environment (or society), whether its a family, city, state, or country, implies the existence of structure. Social structures consist of rules, restrictions, boundaries, and a set of beliefs that become a code of behavior that limits the ways in which individuals within that social structure can or cannot express themselves. Furthermore, most of the limitations of social structure were established before we are born. In other words, by the time any of us get here, most of the social structure governing our individual expression is in place and well entrenched.

1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept the risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors.

seems pretty clear that Auntie knew she could die if she attempted to save Lucy May. The nurses knew it, too. Auntie and her nurses made the ultimate sacrifice as they attempted to rescue Lucy May; they were like the firemen who ran into the World Trade Center moments before the tower collapsed. They did their duty because it was what they had to do.

1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.

The best traders aren’t afraid. They aren’t afraid because they have developed attitudes that give them the greatest degree of mental flexibility to flow in and out of trades based on what the market is telling them about the possibilities from its perspective. At the same time, the best traders have developed attitudes that prevent them from getting reckless.

Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. They no longer fear the erratic behavior of the market. They learn to focus on the information that helps them spot opportunities to make a profit, rather than focusing on the information that reinforces their fears.

If you are unable to trade without the slightest bit of emotional discomfort (specifically, fear), then you have not learned how to accept the risks inherent in trading. This is a big problem, because to whatever degree you haven’t accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something that is unavoidable will have disastrous effects on your ability to trade successfully.

As bureaucracies accumulate power, they become immune to their own mistakes. Instead of changing their stories to fit reality, they can change reality to fit their stories. In the end, external reality matches their bureaucratic fantasies, but only because they forced reality to do so. For example, the borders of many African countries disregard river lines, mountain ranges and trade routes, split historical and economic zones unnecessarily, and ignore local ethnic and religious identities. The same tribe may find itself riven between several countries, whereas one country may incorporate splinters of numerous rival clans. Such problems bedevil countries all over the world, but in Africa they are particularly acute because modern African borders don’t reflect the wishes and struggles of local nations. They were drawn by European bureaucrats who never set foot in Africa.

When you operate from the assumption that more or better analysis will create consistency, you will be driven to gather as many market variables as possible into your arsenal of trading tools. But what happens then? You are still disappointed and betrayed by the markets, time and again, because of something you didn’t see or give enough consideration to. It will feel like you can’t trust the markets; but the reality is, you can’t trust yourself.

People normally describe this kind of internal mental shift as an “ah, ha” experience, or the moment when the light goes on. Everyone has had these kinds of experiences, and there are some common qualities associated with them. First, we usually feel different. The world even seems different, as if it had suddenly changed. Typically, we might say at the moment of the breakthrough something like, “Why didn’t you tell me this before?” or, “It was right in front of me the whole time, but I just didn’t see it

Metalearning: First Draw a Map. Start by learning how to learn the subject or skill you want to tackle. Discover how to do good research and how to draw on your past competencies to learn new skills more easily. Focus: Sharpen Your Knife. Cultivate the ability to concentrate. Carve out chunks of time when you can focus on learning, and make it easy to just do it. Directness: Go Straight Ahead. Learn by doing the thing you want to become good at. Don’t trade it off for other tasks, just because those are more convenient or comfortable. Drill: Attack Your Weakest Point. Be ruthless in improving your weakest points. Break down complex skills into small parts; then master those parts and build them back together again. Retrieval: Test to Learn. Testing isn’t simply a way of assessing knowledge but a way of creating it. Test yourself before you feel confident, and push yourself to actively recall information rather than passively review it. Feedback: Don’t Dodge the Punches. Feedback is harsh and uncomfortable. Know how to use it without letting your ego get in the way. Extract the signal from the noise, so you know what to pay attention to and what to ignore. Retention: Don’t Fill a Leaky Bucket. Understand what you forget and why. Learn to remember things not just for now but forever. Intuition: Dig Deep Before Building Up. Develop your intuition through play and exploration of concepts and skills. Understand how understanding works, and don’t recourse to cheap tricks of memorization to avoid deeply knowing things. Experimentation: Explore Outside Your Comfort Zone. All of these principles are only starting points. True mastery comes not just from following the path trodden by others but from exploring possibilities they haven’t yet imagined.

The Austrian born Von Hayek has long been under the control of David Rockefeller, and Von Hayek theories have been fairly widely accepted in the United States for some time, especially in “conservative” circles. According to Von Hayek, a future United States economic platform must be based on (a) urban black markets, (b) small Hong Kong type industries utilizing sweatshop labor, (c) the tourist trade, (d) free enterprise zones where speculators can operate unhindered and where the drug trade can flourish, (e) the end of all industrial activity and (f) closing down of all nuclear energy plants.

And here is the difficult part. However messily it is expressed, much of the criticism of our class is true. We proclaim the “net” benefits of free trade, technological advances, and immigration, safe in the knowledge that we will be among the beneficiaries. Equipped with high levels of human capital, we can flourish in a global economy. The cities we live in are zoned to protect our wealth, but deter the unskilled from sharing in it. Professional licensing and an immigration policy tilted toward the low-skilled shield us from the intense market competition faced by those in nonprofessional occupations. We proclaim the benefits of free markets but are largely insulated from the risks they can pose. Small wonder other folks can get angry.

The current narrative we seem to tell ourselves about our privacy is that it is a sort of currency we trade to corporations in return for innovation. But the corporation has an insatiable appetite for our most personal data in order to drive us to consume during our every waking moment. I think this is critical, because in some ways social networks are powerful engines of conformity. The ability for students to develop their own ideas, identities, and political affiliations should take place outside of the panopticon view of Facebook, but whether this is any longer possible is an open question. My own memory is that the development of my political and cultural persona between the ages of fifteen and twenty-one had a lot to do with being outside the zone of judgment of my parents, their conservative peers from my hometown, Cleveland, and maybe even from my siblings. I’m not sure that it could happen if we were all on Facebook together.

Inarguably, a successful restaurant demands that you live on the premises for the first few years, working seventeen-hour days, with total involvement in every aspect of a complicated, cruel and very fickle trade. You must be fluent in not only Spanish but the Kabbala-like intricacies of health codes, tax law, fire department regulations, environmental protection laws, building code, occupational safety and health regs, fair hiring practices, zoning, insurance, the vagaries and back-alley back-scratching of liquor licenses, the netherworld of trash removal, linen, grease disposal. And with every dime you've got tied up in your new place, suddenly the drains in your prep kitchen are backing up with raw sewage, pushing hundreds of gallons of impacted crap into your dining room; your coke-addled chef just called that Asian waitress who's working her way through law school a chink, which ensures your presence in court for the next six months; your bartender is giving away the bar to under-age girls from Wantagh, any one of whom could then crash Daddy's Buick into a busload of divinity students, putting your liquor license in peril, to say the least; the Ansel System could go off, shutting down your kitchen in the middle of a ten-thousand-dollar night; there's the ongoing struggle with rodents and cockroaches, any one of which could crawl across the Tina Brown four-top in the middle of the dessert course; you just bought 10,000 dollars-worth of shrimp when the market was low, but the walk-in freezer just went on the fritz and naturally it's a holiday weekend, so good luck getting a service call in time; the dishwasher just walked out after arguing with the busboy, and they need glasses now on table seven; immigration is at the door for a surprise inspection of your kitchen's Green Cards; the produce guy wants a certified check or he's taking back the delivery; you didn't order enough napkins for the weekend — and is that the New York Times reviewer waiting for your hostess to stop flirting and notice her?

times had changed. The chief impetus for rethinking the value of colonies was the global Depression. It had triggered a desperate scramble among the world’s powers to prop up their flagging economies with protective tariffs. This was an individual solution with excruciating collective consequences. As those trade barriers rose, global trade collapsed, falling by two-thirds between 1929 and 1932. This was exactly the nightmare Alfred Thayer Mahan had predicted back in the 1890s. As international trade doors slammed shut, large economies were forced to subsist largely on their own domestic produce. Domestic, in this context, included colonies, though, since one of empire’s chief benefits was the unrestricted economic access it brought to faraway lands. It mattered to major imperial powers—the Dutch, the French, the British—that they could still get tropical products such as rubber from their colonies in Asia. And it mattered to the industrial countries without large empires—Germany, Italy, Japan—that they couldn’t. The United States was in a peculiar position. It had colonies, but they weren’t its lifeline. Oil, cotton, iron, coal, and many of the important minerals that other industrial economies found hard to secure—the United States had these in abundance on its enormous mainland. Rubber and tin it could still purchase from Malaya via its ally Britain. It did take a few useful goods from its tropical colonies, such as coconut oil from the Philippines and Guam and “Manila hemp” from the Philippines (used to make rope and sturdy paper, hence “manila envelopes” and “manila folders”). Yet the United States didn’t depend on its colonies in the same way that other empires did. It was, an expert in the 1930s declared, “infinitely more self-contained” than its rivals. Most of what the United States got from its colonies was sugar, grown on plantations in Hawai‘i, Puerto Rico, the U.S. Virgin Islands, and the Philippines. Yet even in sugar, the United States wasn’t dependent. Sugarcane grew in the subtropical South, in Louisiana and Florida. It could also be made from beets, and in the interwar years the United States bought more sugar from mainland beet farmers than it did from any of its territories. What the Depression drove home was that, three decades after the war with Spain, the United States still hadn’t done much with its empire. The colonies had their uses: as naval bases and zones of experimentation for men such as Daniel Burnham and Cornelius Rhoads. But colonial products weren’t integral to the U.S. economy. In fact, they were potentially a threat.

In 1498, Vasco da Gama the Portuguese navigator explored this eastern coast of Africa flanking the Indian Ocean. This led him to open a trade route to Asia and occupy Mozambique to the Portuguese colony. In 1840, it came under the control of the Sultan of Zanzibar and became a British protectorate in 1895, with Mombasa as its capital. Nairobi, lying 300 miles to the northwest of Mombasa is the largest city in Kenya. It became the capital in 1907 and is the fastest growing urban area in the Republic having become independent of the United Kingdom on December 12, 1963 and declared a republic the following year on December 12, 1964. Kenya is divided by the 38th meridian of longitude into two very different halves. The eastern half of Kenya slopes towards the coral-backed seashore of the Indian Ocean while the western side rises through a series of hills to the African Shear Zone or Central Rift. West of the Rift, the lowest part of a westward-sloping plateau contains Lake Victoria. This, the largest lake in Africa, receives most of its water from rain, the Kagera River and countless small streams. Its only outlet is the White Nile River which is part of the longest river on Earth. Combined, the Blue Nile and the White Nile, stretches 4,160 miles before emptying into the Mediterranean Sea.

Geopolitics is ultimately the study of the balance between options and lim­itations. A country's geography determines in large part what vulnerabilities it faces and what tools it holds. "Countries with flat tracks of land -- think Poland or Russia -- find building infrastructure easier and so become rich faster, but also find them­selves on the receiving end of invasions. This necessitates substantial stand­ing armies, but the very act of attempting to gain a bit of security automat­ically triggers angst and paranoia in the neighbors. "Countries with navigable rivers -- France and Argentina being premier examples -- start the game with some 'infrastructure' already baked in. Such ease of internal transport not only makes these countries socially uni­fied, wealthy, and cosmopolitan, but also more than a touch self-important. They show a distressing habit of becoming overimpressed with themselves -- and so tend to overreach. "Island nations enjoy security -- think the United Kingdom and Japan -- in part because of the physical separation from rivals, but also because they have no choice but to develop navies that help them keep others away from their shores. Armed with such tools, they find themselves actively meddling in the affairs of countries not just within arm's reach, but half a world away. "In contrast, mountain countries -- Kyrgyzstan and Bolivia, to pick a pair -- are so capital-poor they find even securing the basics difficult, mak­ing them largely subject to the whims of their less-mountainous neighbors. "It's the balance of these restrictions and empowerments that determine both possibilities and constraints, which from my point of view makes it straightforward to predict what most countries will do: · The Philippines' archipelagic nature gives it the physical stand-off of is­lands without the navy, so in the face of a threat from a superior country it will prostrate itself before any naval power that might come to its aid. · Chile's population center is in a single valley surrounded by mountains. Breaching those mountains is so difficult that the Chileans often find it easier to turn their back on the South American continent and interact economically with nations much further afield. · The Netherlands benefits from a huge portion of European trade because it controls the mouth of the Rhine, so it will seek to unite the Continent economically to maximize its economic gain while bringing in an exter­nal security guarantor to minimize threats to its independence. · Uzbekistan sits in the middle of a flat, arid pancake and so will try to expand like syrup until it reaches a barrier it cannot pass. The lack of local competition combined with regional water shortages adds a sharp, brutal aspect to its foreign policy. · New Zealand is a temperate zone country with a huge maritime frontage beyond the edge of the world, making it both wealthy and secure -- how could the Kiwis not be in a good mood every day? "But then there is the United States. It has the fiat lands of Australia with the climate and land quality of France, the riverine characteristics of Germany with the strategic exposure of New Zealand, and the island fea­tures of Japan but with oceanic moats -- and all on a scale that is quite lit­erally continental. Such landscapes not only make it rich and secure beyond peer, but also enable its navy to be so powerful that America dominates the global oceans.

It's not that we're dumb. On the contrary, many millions of people have exerted great intelligence and creativity in building the modern world. It's more that we're being swept into unknown and dangerous waters by accelerating economic growth. On just one single day of the days I have spent writing this book, as much world trade was carried out as in the whole of 1949; as much scientific research was published as in the whole of 1960; as many telephone calls were made as in all of 1983; as many e-mails were sent as in 1990.11 Our natural, human, and industrial systems, which evolve slowly, are struggling to adapt. Laws and institutions that we might expect to regulate these flows have not been able to keep up. A good example is what is inaccurately described as mindless sprawl in our physical environment. We deplore the relentless spread of low-density suburbs over millions of acres of formerly virgin land. We worry about its environmental impact, about the obesity in people that it fosters, and about the other social problems that come in its wake. But nobody seems to have designed urban sprawl, it just happens-or so it appears. On closer inspection, however, urban sprawl is not mindless at all. There is nothing inevitable about its development. Sprawl is the result of zoning laws designed by legislators, low-density buildings designed by developers, marketing strategies designed by ad agencies, tax breaks designed by economists, credit lines designed by banks, geomatics designed by retailers, data-mining software designed by hamburger chains, and automobiles designed by car designers. The interactions between all these systems and human behavior are complicated and hard to understand-but the policies themselves are not the result of chance. "Out of control" is an ideology, not a fact.

The school is teeming with activity. The rooms are small and large, many are special-purpose rooms, like shops and labs, but most are furnished like rather shabby living or dining rooms in homes: lots of sofas, easy chairs, and tables. Lots of people sitting around talking, reading, and playing games. On an average rainy day—quite different from a beautiful suddenly snowy day, or a warm spring or fall day—most people are inside. But there will also be more than a few who are outside in the rain, and later will come in dripping and trying the patience of the few people inside who think the school should perhaps be a “dry zone.” There may be people in the photo lab developing or printing pictures they have taken. There may be a karate class, or just some people playing on mats in the dance room. Someone may be building a bookshelf or fashioning chain mail armor and discussing medieval history. There are almost certainly a few people, either together or separate, making music of one kind or another, and others listening to music of one kind or another. You will find adults in groups that include kids, or maybe just talking with one student. It would be most unusual if there were not people playing a computer game somewhere, or chess; a few people doing some of the school’s administrative work in the office—while others hang around just enjoying the atmosphere of an office where interesting people are always making things happen; there will be people engaged in role-playing games; other people may be rehearsing a play—it might be original, it might be a classic. They may intend production or just momentary amusement. People will be trading stickers and trading lunches. There will probably be people selling things. If you are lucky, someone will be selling cookies they baked at home and brought in to earn money. Sometimes groups of kids have cooked something to sell to raise money for an activity—perhaps they need to buy a new kiln, or want to go on a trip. An intense conversation will probably be in progress in the smoking area, and others in other places. A group in the kitchen may be cooking—maybe pizza or apple pie. Always, either in the art room or in any one of many other places, people will be drawing. In the art room they might also be sewing, or painting, and some are quite likely to be working with clay, either on the wheel or by hand. Always there are groups talking, and always there are people quietly reading here and there. One

The basic rate of pay was 150 U.S. dollars a month for a volunteer (the rank given to the private soldier or enlisted man) plus another 5 dollars a day danger pay, payable when a man was in an officially declared danger zone, making 300 dollars a month altogether. At that time 300 dollars would have been roughly twice as much as a qualified artisan could earn in his trade as a civilian in South Africa.

The best place to live on this curve is the spot where you can deal with the emotional aspect of equity drawdown required to get the maximum return. How much heat can you stand? Money management is a thermostat—a control system for risk that keeps your trading within the comfort zone. Gibbons Burke5

And what is that truth? NAFTA created the largest free trade zone in the world, with an economic output of $20 trillion. It quadrupled trade between the three countries, quadrupled American exports to Canada and Mexico, eliminated tariffs that had increased the cost of doing business, and reduced prices for consumers. NAFTA also reduced American dependence on Middle Eastern oil, created many more jobs than it eliminated, and fostered new markets for investment by American companies.

Underhill had an idea for much safer, faster transport than autos or even aircraft. “Ten minutes from Princeton to Lands Command, twenty minutes across the continent. See, you dig these tunnels along minimum-time arcs, evacuate the air from them, and just let gravity do the work.” By Unnerby’s watch, there was a five-second pause. Then: “Oops, little problem there. The minimum-time solution for Princeton to Lands Command would go down kinda deep…like six hundred miles. I probably couldn’t convince even the General to finance it.” “You are right about that!” And the two were off in an extended argument about less-than-optimal tunnel arcs and trade-offs against air travel. The deep tunnel idea was really dumb, it turned out.

They caravanned over to 51st Avenue in northwestern Nashville, a small section of town aptly named the Nations. It was across Interstate 40 from Sylvan Park, the mirror image of the state street routes Taylor and Sam used to trace with their parents on pilgrimages to Bobby’s Dairy Dip. The Nations was an upstanding industrial area which quickly gave way to squalor. It was another one of those bizarre Nashville disunions, a forgotten zone in the midst of splendor and plenty. A five-block area dedicated to crime. The police presence was heavy, trying to quell the rampant drug and sex trade. They were losing the battle. Here in this little molecular oasis of misery, the residents operated in the land time forgot. Pay phones outnumbered cell phones and were still prevalent on every street corner, graffiti-painted and piss-filled. Teenagers wandered in baggy pants and cornrows, holding forty-ounce beer cans wrapped in brown paper bags. Crime, negligence, fear, all the horrors of life seeped in under the cracks of their doors in the middle of the night, carrying away their faith in humanity. These people didn’t just distrust the police, they didn’t acknowledge their existence. Justice was meted out behind gas stations and in dirty alleyways, business conducted under broken street lamps and in fetid, unair-conditioned living rooms.

Why wouldn’t someone want to win? It’s really not a question of what someone wants, because I believe that all traders want to win. Yet, there are often conflicts about winning. Sometimes these conflicts are so powerful that we find our behavior is in direct conflict with what we want. These conflicts could stem from religious upbringing, work ethic or certain types of childhood trauma.

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Truth be told, it hurts more to know that my oldest friend wants to trade me than me losing my front man status.

In Iowa, the American Future Fund began airing an ad created by Larry McCarthy that Geoff Garin, the Democratic pollster, described as perhaps “the most egregious of the year.” The ad accused the then congressman Bruce Braley, an Iowa Democrat and a lawyer, of supporting a proposed Islamic community center in lower Manhattan, which it misleadingly called a “mosque at Ground Zero.” As footage of the destroyed World Trade Center rolled, a narrator said, “For centuries, Muslims built mosques where they won military victories.” Now it said a mosque celebrating 9/11 was to be built on the very spot “where Islamic terrorists killed three thousand Americans”; it was, the narrator suggested, as if the Japanese were to build a triumphal monument at Pearl Harbor. The ad then accused Braley of supporting the mosque. In fact, Braley had taken no position on the issue. No surprise for a congressman from Iowa. But an unidentified video cameraman had ambushed him at the Iowa State Fair and asked him about it. Braley replied that he regarded the matter as a local zoning issue for New Yorkers to decide. Soon afterward, he says, the attack ad “dropped on me like the house in ‘The Wizard of Oz.’ ” Braley, who won his seat by a margin of 30 percent in 2008, barely held on in 2010. The American Future Fund’s effort against Braley was the most expensive campaign that year by an independent group.

In Iowa, the American Future Fund began airing an ad created by Larry McCarthy that Geoff Garin, the Democratic pollster, described as perhaps “the most egregious of the year.” The ad accused the then congressman Bruce Braley, an Iowa Democrat and a lawyer, of supporting a proposed Islamic community center in lower Manhattan, which it misleadingly called a “mosque at Ground Zero.” As footage of the destroyed World Trade Center rolled, a narrator said, “For centuries, Muslims built mosques where they won military victories.” Now it said a mosque celebrating 9/11 was to be built on the very spot “where Islamic terrorists killed three thousand Americans”; it was, the narrator suggested, as if the Japanese were to build a triumphal monument at Pearl Harbor. The ad then accused Braley of supporting the mosque. In fact, Braley had taken no position on the issue. No surprise for a congressman from Iowa. But an unidentified video cameraman had ambushed him at the Iowa State Fair and asked him about it. Braley replied that he regarded the matter as a local zoning issue for New Yorkers to decide. Soon afterward, he says, the attack ad “dropped on me like the house in ‘The Wizard of Oz.’ ” Braley, who won his seat by a margin of 30 percent in 2008, barely held on in 2010. The American Future Fund’s effort against Braley was the most expensive campaign that year by an independent group. After the election, Braley accused McCarthy, the ad maker, of “profiting from Citizens United in the lowest way.” As for those who hired McCarthy, he said, they “are laughing all the way to the bank. It’s a good investment for them…They’re the winners. The losers are the American people, and the truth.

The rapidly changing world and evolving threatening challenges demand we become more self-aware and seek trade-offs.  This means between traditional methods of training and operating and the uncertainty of ongoing, experiential trial and error the future demands if we are to thrive while handling crisis and conflict. 2 This must be done with an understanding we collectively have a shared purpose, which focuses on winning conflict and crisis at low cost in the moral, mental and physical dimensions which often times takes us outside our comfort zones.

ECB – unlike, say, the US Federal Reserve which is placed within a political structure where Congress, the President, and the Treasury supply all the necessary political counterweights – is free (indeed, is supposed) to operate in a political vacuum: the parliaments and governments of the members of the euro zone have lost control over monetary policy, while the EP has no authority in this area. Moreover, the ECB enjoys not only ‘instrument independence’ but also ‘goal independence’. When a central bank enjoys only instrument independence, it is up to the government to fix the target – say, the politically acceptable level of inflation – leaving then the central bank free to decide how best to achieve the target. In the case of goal independence, the discretionary power of the central banker is much larger. The idea that central bankers, or other economic experts, may know what rate of inflation is in the long-run interest of a country (and, a fortiori, of a group of countries at very different levels of socioeconomic developments such as the EU) is indeed extraordinary. Politicians and elected policymakers, rather than experts, can be expected to be sensitive to the public’s preferred balance of inflation and unemployment. If the public wants to trade some unemployment for a somewhat higher rate of inflation, it can make this preference known by electing candidates who stand for such a policy; but no such possibility is given to the citizens of the euro zone or to their political representatives.

Ten months after Jamie’s death, the 2006 football season began. The Colts played peerless football, winning their first nine games, and finishing the year 12–4. They won their first play-off game, and then beat the Baltimore Ravens for the divisional title. At that point, they were one step away from the Super Bowl, playing for the conference championship—the game that Dungy had lost eight times before. The matchup occurred on January 21, 2007, against the New England Patriots, the same team that had snuffed out the Colts’ Super Bowl aspirations twice. The Colts started the game strong, but before the first half ended, they began falling apart. Players were afraid of making mistakes or so eager to get past the final Super Bowl hurdle that they lost track of where they were supposed to be focusing. They stopped relying on their habits and started thinking too much. Sloppy tackling led to turnovers. One of Peyton Manning’s passes was intercepted and returned for a touchdown. Their opponents, the Patriots, pulled ahead 21 to 3. No team in the history of the NFL had ever overcome so big a deficit in a conference championship. Dungy’s team, once again, was going to lose.3.36 At halftime, the team filed into the locker room, and Dungy asked everyone to gather around. The noise from the stadium filtered through the closed doors, but inside everyone was quiet. Dungy looked at his players. They had to believe, he said. “We faced this same situation—against this same team—in 2003,” Dungy told them. In that game, they had come within one yard of winning. One yard. “Get your sword ready because this time we’re going to win. This is our game. It’s our time.”3.37 The Colts came out in the second half and started playing as they had in every preceding game. They stayed focused on their cues and habits. They carefully executed the plays they had spent the past five years practicing until they had become automatic. Their offense, on the opening drive, ground out seventy-six yards over fourteen plays and scored a touchdown. Then, three minutes after taking the next possession, they scored again. As the fourth quarter wound down, the teams traded points. Dungy’s Colts tied the game, but never managed to pull ahead. With 3:49 left in the game, the Patriots scored, putting Dungy’s players at a three-point disadvantage, 34 to 31. The Colts got the ball and began driving down the field. They moved seventy yards in nineteen seconds, and crossed into the end zone. For the first time, the Colts had the lead, 38 to 34. There were now sixty seconds left on the clock. If Dungy’s team could stop the Patriots from scoring a touchdown, the Colts would win. Sixty seconds is an eternity in football.

Your Mindless Margin. By making 100–200 calorie changes in your daily intake, you won’t feel deprived and backslide. • Mindless Better Eating. Focus on reengineering small behaviors that will move you from mindless overeating to mindless better eating. Five common places to look (diet danger zones) include meals, snacks, parties, restaurants, and your desk or dashboard. • Mindful Reengineering. To trim your mindless margin, you can use basic diet tips, but a more personalized approach is to use 1) food trade-offs, or 2) food policies. Both give you a chance to eat some of what you want without making it a belabored decision. • The Power of Three. Design three easy, do-able changes that you can mindlessly make without much sacrifice. • Mindless Margin Checklist. Use this daily checklist to help you move from mindless overeating to mindless better eating.

The euro crisis showed that the euro zone needs a banking union, which centralises a lot of power. And the best hope of growth lies in expanding the single market. The next commission needs to remove blockages to trade in services, energy and the digital economy. More free-trade deals, starting with America, are another priority. Opening up Europe’s economy will annoy some voters (and scare some politicians); but the alternative—years of economic stagnation—will doom the project anyway.

Socially established structures of meaning" are the meeting point of mind and culture, the trading zone in which psychology and anthropology exchange their goods.