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Drive For Show…..Putt For Dough

There are a lot of similarity between golf and trading. Both are fundamentally mental activities and the person who makes the fewest catastrophic errors wins. Golfers are also prone to the same sort of magical thinking that afflicts traders – if I use so and so’s clubs then my game will get better. Which is the same line of thinking as if I use such and such a moving average then I will be successful.

I mentioned in the by line the expression drive for show and putt for dough. This refers to a golfing maxim that the money is not made in driving the ball further than anyone else; it is made in getting the ball those last few metres into the tiny hole. Yet interestingly driving seems to become an obsession with golfers in much the same way as new indicators become the holy grail for traders. In trading the money is made not when the trade is put on (driving) but rather how the trade is managed at the end (putting)

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