Trading is hard. This far-flung, never-ending electronic poker game serves up a mental challenge unlike any other. Anything can happen at any time. It looks like a numbers game but it's really a people game. The data are numbers but the information is in the relationships between, and the implications…
A trader I coach predicted this as the best positioning for Brexit : Short the pound, short the S&Ps, long gold and short oil. This is John B. - a guy with 20+ years of very successful experience and a recent history of working on separating instinct from impulse through…
Price action in the markets is "the tell" - as they used to say. (It seems that is one of those words that has come and gone). But the problem is this said 'tell', tells you different things - it can be interpreted many ways. It is what is known…
In response to the post and discussion here by @ppearlman, @andrewunknown asks: Phil's last line: "So, even awareness is overrated. Its a start but really its about your choices. Its where the training begins, not ends." Denise: "What is standing in between the "knowing" and the "doing"?" These quotes rather…
THIS JUST CAME IN AN EMAIL TO ME.... makes me livid. For now I have removed the header.... is it just the relentless rain? 1) Turn on the computer in the morning (9:15 AM EST) 2) Place an order at the "Bounce Line" 3) Make money 4) Turn off computer…
I woke up this morning, still thinking about ambiguity and my natural aversion to…. Well, mornings. After a cup of Joe and a slice of shingle with a shimmy and a shake, I set myself down the ponder: Ambiguity Coveted by politicians and poets… Distained by science and law. “political…
the peak n e a r i n g the snowy summit the comforts of the slow and steady climb slip away the air has changed gazing off the windy peak inside churns - excitement erupts voices clamoring to be heard Maslow entices me to take it to a higher…
To the melody of the Jungle Book's Bare Necessities, here's a little song about ambiguity aversion. Best sung with Louis Armstrong playing the original in the background! http://www.youtube.com/watch?v=MbUv_Tnnl2g Embrace the ambiguities The simple ambiguities Don’t chase every tick in every move Just face the unpredictability The financial markets’ recipe For…
1. Was it purposeful? 2. Were specific orders entered that would "sweep the book" in PG, MMM and Accenture? Why those stocks? 3. Why 2:40 pm? Isn't that a suspicious time in terms of margin calls from clearing houses and expiration of limit down rules @ NYSE? 4. What kind…
UPDATE TO POST "Joining the Options Counter Culture" 1. Nice to have a tutor in thinkorswim software ... better to have it be the same guy you drink margaritas at home with. 2. A put spread risks less than just buying calls. 3. I am actually bearish for May and…
