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…
UPDATE June 20, 2016: I am SO glad the Cavs won! Thrilled. Elated. Vindicated. Ecstatic. Relieved. Joyous. Shocked... not necessarily in that order. Maybe someday I will get to interview LeBron about the cycle of emotions he experienced and used to create this incredible historic victory! UPDATE June 17, 2016:…
A few weeks ago, I attended the annual meeting of The Social and Affective Neuroscience Society (SANS) - a seemingly unlikely place to figure out how to resolve a trading mistake! Those who follow me know I am not only a closet academic but that many of the advanced trading psychology…
Back in the ‘90s in Chicago when I just beginning to trade my mentor would say: “I’ve seen this movie before.” Mistaking the market for a math problem, I really didn’t get what he meant – until indeed I too felt a click of recognition as I watched price action…
Two separate studies interviewing close to 200 successful portfolio managers and traders confirm what Jason Voss and Ravhee Mehta have reported in their books The Intuitive Investor and The Emotionally Intelligent Investor. Being able to read the feelings of other market participants, a form of empathy, and being able to…
Coates, Shull, other experts weigh in on risk professionals’ attention to their discipline Thursday, May 02, 2013, Risk Professional Magazine (published by the Global Association of Risk Professionals - GARP) By Katherine Heires Over the past 20 years, advances in brain imaging technology and other methods of analyzing neural activity…
Last Sunday, the most successful trader I knew from the Chicago Options pits texted me this - "Self-examination is the key to noodle making and other accomplishments." Now you should know two things - 1) this guy NEVER texts - we have been friends for going on 20 years and…
In case you missed it, here's my segment on CNBC Squawk Box this morning. Had a ton of fun with Joe and Andrew. More later. FRIDAY the 10th ... and yes, this Joe, this approach DOES work with putting too! In fact, it may work even better with putting because…
This is a true story. 3 years ago today (I have this weird memory for dates), I spotted Jamie Dimon and Bill Daley sitting outside Gibsons in Chicago. I just happened to have come from a lunch with Patricia Crisafulli who had written the House of Dimon and I had…
Here are the links to my thoughts on the needed new paradigm in risk management (All About Alpha) and the three things anyone can do to be more successful in the financial markets. What were they thinking? From MF to LTCM 3 Things anyone can do better to understand the…
