think indipendently! (xxi)

1. http://classes.yale.edu/fractals/index.html

2. the first 15 minutes of trading are critically important (20)

3. important of the graphics

4. use a logarithmic scale to see the movements in % (91)

5. prices have long term dependence (193)

6. to truly understand something, you must experience it (227)

7. Ten points about markets:

• markets are turbulent

• markets are very, very risky - more risky than the standard theories imagine

• markets “timing” matters greatly. Big gains and losses concentrate into small packages of time.

• Prices often leap, not glide. That adds to the risk.

• In markets, time is flexible.

• Markets in all places and ages work alike.

• Markets are inherently uncertain, and bubble are inevitable.

• Markets are deceptive - chance alone can produce deceptively conving patterns (246)

• Forecasting prices may be perilous, but you can estimate the odds of future volatility

• In financial markets, the idea of “value” has limited value.

1. The wall street mantra is asset allocation (231)

2. the assumption of continuity in the prices is false (237)

3. wave predictions is a very uncertain business, e.g. Elliot (245)

4. oanda.com