I recently read War and Chance by Jeffrey A. Friedman, which considers how foreign policy specialists deal with the uncertainty that surrounds their high stakes decisions. Friedman focuses on an historic reticence to explicitly discuss either probabilities or confidence levels when making subjective judgements. Whilst the impact of decisions made around the whereabouts of Osama bin Laden…
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As anyone who has had the patience or misfortune to listen to me speak on trading for more than five minutes will well be aware, I am fond of saying that trading is simple but not easy and it is. It only consists of three rules, if it is trending up buy it, if it…
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Kate Baecher and her mountaineering group were being guided over a dangerous traverse in Europe a few years ago when a climber in the party ahead of them fell hundreds of feet to her death. Baecher, a Sydney-based psychologist, military veteran, and avid mountaineer with a background helping people perform in high-stress situations, kept her cool…
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It was getting dark when I hit the first riffle of my trip down Utah’s Green River in a canoe. My plan was to set out while it was cool and log some mileage before nightfall, but dusk came on quicker than I thought. Because I’d been in a rush to launch, my gear wasn’t…
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“All of humanity’s problems stem from man’s inability to sit quietly in a room alone”. More here – Investor Amnesia
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Recently I had a very early morning chat with Dr. Richard Shuster regarding how trading is the simplest of endeavors in terms of its rules but one of the hardest in terms of its actual execution. The reason being simple – we are human and humans are flawed. Click the player image below to be…
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In presentations regarding trading psychology and why traders find it so hard to be profitable, I often refer to a paper titled An analysis of the profiles and motivations of habitual commodity speculators by W. Bruce Canoles, Sarahelen Thompson, Scott Irwin Virginia, Grace France (Journal of Futures Markets Volume 18 Issue 7 October 1998) This…
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Recently I chatted with David Hobart who is a former prop trader turned high-performance coach to professionals around the world. Click on the player image below to be taken to the interview.
The number one problem I currently hear from portfolio managers, team members, and traders in financial markets is “burnout”. That’s not surprising, given the list of challenges from 2020: Keeping up with markets that have changed trends multiple times within the year; Maintaining perspective amidst uncertainties regarding COVID-19 and implications for health and safety; Working…
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