Zurich axioms are simple rules in order to learn about betting to win.
Zurich axioms - A book on Risk taking, by Max Gunther
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Zurich axioms are simple rules in order to learn about betting to win.
ON RISK
- Life is an adventure. In order to experience life to its full potential one has to take meaningful risk.. All Investments are speculation. Some people accept it. some don’t.
Always play for meaningful stakes.

ON GREED
- One must take profits soon. Long winning streaks are rare and short ones are vastly common One doesn’t know how long a winning streak will continue. Averages overwhelmingly favor the ones who quit early.
- One must decide in advance how much gain one wants from a venture & when one gets it, square off the position.
- One way to reinforce the ending of a streak is to buy some kind of a reward from the gain.
ON HOPE
- When the ship starts to sink, don't pray. Jump.
- Knowing how to get out of the bad situation takes courage and a sense of honesty. A Professional speculator studies how he will save himself when things fall.

- Accept small losses cheerfully. Taking small losses is a much better way to protect oneself from the big one. Don’t sit on a sinking ship.
ON FORECAST
- Human behavior cannot be predicted. Distrust anyone who claims to know the future, however dimly.
- No one knows what's gonna happen in the future, great speculators don't listen to the forecasts.

On PATTERNS
- Chaos is not dangerous until it begins to look orderly.
World of money is a patternless disorder and utter chaos. Humans have a nature of keeping things in order, eg. unwarranted belief that history repeats itself.

ON MOBILITY
- Avoid putting down Roots. They impede motion. Do not become trapped in a souring venture because of sentiments like loyalty and nostalgia. It is a mistake to let oneself get too attached to businesses in which capital is invested.
- Never hesitate to abandon a venture if something more attractive comes into view.
- Preserve mobility, be ready to jump away from trouble and seize the opportunities quickly.
- All the moves should be made only after careful assessment of the odds for and odds against. When a venture is clearly souring one must sever those roots and go.
ON INTUITION
- A hunch can be trusted if it can be explained. A hunch is a mental event that feels something like knowledge but doesn't feel perfectly trustworthy.
- One is likely to be hit by hunches frequently. Learn to use them.
- When a hunch hits, ask whether a big enough library of data could exist in mind to have generated that hunch. Never lean on hunches too hard.
ON RELIGION AND THE OCCULT
- It is unlikely that God's plan for the universe includes making one rich. Sometimes occult beliefs can get in the way of sound speculative thinking. Leaning on such beliefs may not be hazardous to health, but it is to money.
ON OPTIMISM AND PESSIMISM
- Optimism means expecting the best, but confidence means knowing how to handle the worst. Never make a move solely on optimism. In poker, if a pro arrives at a situation where the odds say he shouldn’t bet then he doesn’t.
- Optimism feels much better than pessimism. It has a hypnotic allure. That’s why bulls outnumbers bears.
- Optimism leads to the ventures with no exits and when there is an exit, it persuades to not to use it.
ON CONSENSUS
- Majority opinions are probably wrong. One should try to come to his own conclusion.
- Never follow speculative fads. Unseen pressure of the majority can not only dislodge a good hunch but can also create doubts on one’s judgments.
- Various entities like brokers and people giving hot tips can constantly bombard an active speculator to buy whatever the majority is buying.
ON STUBBORNNESS
- One must defeat the emotion of perseverance when it is leading one astray.
- Perseverance is not a good idea for speculators. One must persevere to learn, improve and grow rich.
- Never try to save a bad investment by averaging down. Don’t hold your investments in the spirit of stubbornness.
- Value the freedom to choose investments on their merits alone.
More from The Tycoon Mindset
More from Book
Michael Tesler in @FiveThirtyEight bringing some data to bear on my tweets about @ReverendWarnock\u2019s dog ad. A piece worth reading, and a reminder: It\u2019s never \u201cjust a dog,\u201d y\u2019all.https://t.co/ijQvTDOdvj pic.twitter.com/sp05Bhueob
— Hakeem Jefferson (@hakeemjefferson) December 15, 2020
In the 1930s, Pitbulls — which, as Bronwen pointed out to me over and over, don’t constitute a dog breed but a shape — used to be seen as the trusty sidekick of the proletariat, the Honda Civic of canines. (Think of “the Little Rascals” dog.)
.
That began changing in the postwar years and the rise of the suburbs. A pedigreed dog became a status symbol for the burgeoning white middle class. And pitbulls got left behind in the cities.
Aside: USians have flitted between different “dangerous” breeds and media-fueled panics around specific dogs. (anti-German xenophobia in the late 1800s fueled extermination programs of the spitz, a little German dog that newspapers said was vicious and spread disease.)
Some previously “dangerous” dogs get rebranded over the years — German shepherds, Dobermans, Rottweilers. But the thing their respective periods of contempt and concern had to do is that they were associated with some contemporarily undesirable group.
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The absolute best 15 scanners which experts are using.
— Aditya Todmal (@AdityaTodmal) January 29, 2021
Got these scanners from the following accounts:
1. @Pathik_Trader
2. @sanjufunda
3. @sanstocktrader
4. @SouravSenguptaI
5. @Rishikesh_ADX
Share for the benefit of everyone.
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These setups I found from the following 4 accounts:
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2. @sourabhsiso19
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— Aditya Todmal (@AdityaTodmal) February 7, 2021
These setups I found from the following 4 accounts:
1. @Pathik_Trader
2. @sourabhsiso19
3. @ITRADE191
4. @DillikiBiili
Share for the benefit of everyone.
4. Curated tweets on HOW TO SELL STRADDLES.
Everything covered in this thread.
1. Management
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3. When to exit straddles
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Curated tweets on How to Sell Straddles
— Aditya Todmal (@AdityaTodmal) February 21, 2021
Everything covered in this thread.
1. Management
2. How to initiate
3. When to exit straddles
4. Examples
5. Videos on Straddles
Share if you find this knowledgeable for the benefit of others.