Key FAANG stocks all reported numbers with most blowing out their results well above consensus estimates. Yet the overall market is showing little follow through as the tech heavy Nasdaq trades lower this morning.
One the other side of the pond however, the world of sport was in the midst of a revolution that brought back memories of Trotsky, Lenin and the workers uprising of 1917. The near mass hysteria that broke out across the Continent and the UK was the sudden announcement of the Super League –
Bruce Lee once said that he feared not the man who has practiced 10,000 kicks once, but the man who has practiced one kick 10,000 times.
If you are a young man or even a middle aged one and someone hands you keys to a sleek sports car your biological impulse is to go fast. I don’t know if it’s the testosterone or the Y chromosome but we are compelled to go fast and break things.
I am always loath to make direct comparisons between gaming and trading because although the two seem superficially similar there are key differences between the two activities.
Error when it comes to trading manifests itself in two forms. Error of analysis and error of process. Although almost everyone who trades focuses on the former, it’s the later that really matters
One of the greatest anomalies in finance is that momentum works. Momentum – the strategy of buy high, sell higher or sell low and sell lower – is one the great mysteries of the market because it works on every asset, every market every time frame.
Imagine you have a small forex or futures account. How much money do you think you would need to make to double a $1000 stake in one year?
Twenty dollars per week.
Not twenty dollars an hour.
Not twenty dollars a day.
Per week!
There is nothing more dangerous in the market than the right-wrong trade. This is basically a trade where you do everything right – pick the right setup,
System trading development is the art of turning chaos into order and there is of course no greater chaos than the market.
The race may not always be to the swift nor the victory to the strong, but that’s how you bet.
Damon Runyon.
Stanley Druckenmiller is considered to be one of the greatest investors of all time. In a career that has spanned decades and even centuries