"Thanks very much for your comments on "discipline in trading" which I appreciated a lot.

"I would be most grateful if you would also share with us what you consider important for "discipline in investing" and/or any general comments you might wish to make for investing principals. Thanks again, and have a wonderful weekend."

David Fuller's view I am happy to talk about trading, on occasion, and there is always plenty of interest in the subject. However, give the steep learning curve and the risks involved, which have to be paid for in the markets, if you are not strongly drawn to trading, why consider it? The serious money should be channelled into sound investments, in my opinion. I suggest than no investor over the age of 50 should feel compelled to take up leveraged trading as well, unless they are in need of what on a bad day will feel like a particularly masochistic hobby.

Further to my detailed thoughts in response to Email (1) above, in the manner of a naturalist, between the frustrating waits there will also be times when traders feel that they are 'in the zone', usually meaning that they have an intuitive feel for the way a particular market is behaving. This is often justified, for a while, in that consistent trends develop self-feeding rhythms which can also be observed on price charts. That can be a very useful affinity but it will also be temporary and traders need to be alert to any sudden and dynamic change in the price action capable of altering the prevailing market psychology.

Students of the markets may also wish to read books on trading. These should come with the equivalent of a government health warning - this material can be hazardous to your wealth. Inevitably, there is more comment out there on trading which is mediocre rather than helpful, as in any other field. It may take an experienced eye to spot the difference.

Fullermoney friend Puru Saxena mentioned two books on trading to me just before Christmas. I have yet to investigate them but I imagine someone else within the Collective will also have a view on these two books or others which they found of practical value.

Puru Saxena recommended 'Super Trader' by Van Tharp and also "The Way of the Turtle' by Curtis Faith. Any additional feedback on either of these publications would be appreciated.