Nasim N. Taleb has given us two fantastic books on the subjects of Randomness and Uncertainty:  Fooled by Randomness and The Black Swan.  I encourage all traders, particularly those of us who presume to approach trading “scientifically”, to read his material.  Although seemingly unrelated to the main topic, here is a quote that I particularly like, near the end of his newer book, “The Black Swan” :

 

“…I don’t run for trains. Snub your destiny. I have taught myself to resist running to keep on schedule…in refusing to run to catch trains, I have felt the true value of elegance and aesthetics in behavior, a sense of being in control of my time, my schedule, and my life. Missing a train is only painful if you run after it! Likewise, not matching the idea of success others expect from you is only painful if that’s what you are seeking.

You stand above the rat race and the pecking order, not outside of it, if you do so by choice. Quitting a high-paying position, if it is your decision, will seem a better payoff than the utility of the money involved (this may seem crazy, but I’ve tried it and it works). This is the first step toward the stoic’s throwing a four-letter word at fate.

You have far more control over your life if you decide on your criterion by yourself…be aggressive; be the one to resign, if you have the guts. It is more difficult to be a loser in a game you set up yourself.”