Chances are if you read my blog or watch financial news or read major publications you know who Joshua Brown is. He is also known as the Reformed Broker. If you haven’t here is his blog and twitter. Here is why I hate him: He gives people a voice. His blog contains many guest posts,… Continue Reading
Monthly Archives: January 2012
Quick thoughts on $ES_F
Brokers came in this morning and bought a decent amount in the pit. I put some credence in that they bought them but that information I file away. What is more interesting is that they worked many big orders. Normally the brokers will try to hide it. It means someone really wanted those prices or… Continue Reading
Would you watch your ex-girlfriend making out with her new boyfriend? h/t @gtotoy
The always wise @GTOToy made a point and it should be emphasized. There is no doubt in my mind as a trader you have to be somewhat of a masochist. There are many potentially painful moments. There are rarely days that I can go back and say I did it perfectly. That is ok, you do not… Continue Reading
The mistake of thinking you are different.
If I could kick anyone’s ass it would mine about 10 years ago. I believed so much in myself that I thought I could skip steps. To be fair, I was good at certain things that made it easier. When you get to a certain level, every participant has talent. The things that help differentiate… Continue Reading
Thoughts on Gasparino/CME rumor.
When the MF Global thing happened I knew there were going to be changes. After talking to owner of a big IB the other day, I sensed his need for overall stability. As in, this cannot ever happen again. I remember in 2008 many traders using their account as a bank. At that time we… Continue Reading
Dangers of trading in small and distributed days.
There is danger in every type of market but nothing scares me quite like small and distributed days. Here are the dangers as I see it: Boredom: I lose that sharpness. Watching a market trade in a few dollar range is one of the more painful, energy sucking circumstances in trading. It provides a very false sense… Continue Reading
Effects matter more than causes.
Don’t get me wrong this has not always been the case. But you know that whole market can stay irrational longer than you can stay solvent thing? That is what we are witnessing right now. In the past you could look at data or events and predict what effect it would have. Things have changed.… Continue Reading
Difference between process and strategy.
I recieved a comment asking me to explain the difference between process and strategy. If I could talk to myself 8 years ago I would have a conversation with myself about process vs strategy. I would spend 95% of my time on process and 5% on strategy and as I got comfortable with the process… Continue Reading
Importance of success in succeeding as a trader.
Originally appeared in May, 2011. I can’t even begin to tell you how many times I have failed. I will fail tomorrow and the next day and hopefully I will have an opportunity to fail till I am dead. Failure can be an important learning tool. Different shapes and forms. Failure comes in all different… Continue Reading
Yes, I am a psychopath.
Nothing better to get the year started off right than to be called a psychopath. It is yet another reminder that academics, outsiders, and media do not understand how to judge risk. Risk is not inherently good or bad. There are risks you take with good/full/complete information and those you take with bad/incomplete/skewed information. There… Continue Reading
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