What Scares Traders
I always know if my randomly generated “Psych Cap Tricks & Tips” hits the nail on the head by the number of unsubscribes I get. If I tell it like it is – i.e. you need to plan to use judgment in your trading plan… I get 5 people who unsubscribe.
It used to hurt.
Lance,
Thanks so much. I REALLY appreciate this message.
In my mind, all I try to do is understand reality and the facts are that even “100%” quant hedge funds use judgment in developing algorithms and deciding when to start or stop running a systematic tactic. So it isn’t whether there is judgment or not, it is a question of what percentage of your trading is discretionary and then working in concert with the way your brain perceives the data….
Glad to be a help –
DKS
Hi Denise,
But then for each of these five who unsubscribed, there’s probably another five (or more) who, like me, can really relate to the message in that email. It’s printed out and sitting on the desk beside my keyboard – getting in the way of all my other work – so that I force myself to pick it up and read it again a few more times.
Judgment plays a large part in my trading, so your question of ‘what do I want to happen here’ should be quite valuable in identifying any bias for market direction.
I appreciate your work.
Thanks,
Lance.