Here are some of the things I’ve been thinking about: The two areas in trading that separate the men from the boys (so to speak) are: 1.) The ability to divide environmental perceptions in half
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
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
Despite the fact that the guy who got me into the trading business in 1994 had been almost an original CBOE floor member, despite the fact that one of my best trades ever was a
Somewhere down the road, you just might find you agree with more than you expected. Or worse, learned a thing or two about making better decisions in the face of UOUP (rhymes with soup) – uncertain outcomes uncertain probabilities.
All this suggests that emotions are key information providers when deciding under uncertainty. They make us tuned to our environment. Actually, in some contexts of fast and intuitive decision-making in the face of unstable (high vol) conditions, one expects that the stronger the emotional uncertainty signals of the day-trader, the higher the performance.
I mean we also hear “believe in yourself” but where do these advisories leave you when a trading idea is going wrong? How do you handle the teeter totter that holds belief and conviction on one side and price and risk management on the other? What fulcrum can you depend on?
A year ago tonight I was merrily watching my Cleveland Browns actually win while on a Jet Blue flight to the CME’s Inaugural Global Financial Leadership conference when my first cell beep on landing was
Figure out how to differentiate implicit learning from impulse.