Morning Pages for Traders: A Simple Exercise for Clarity
In my previous blog post, I explored how our desires shape trading outcomes—everyone gets what they want from the market. The problem is that wants are not simple—on some level,…
Getting What You Want: How Your Deepest Desires Shape Trading Outcomes
Financial markets are vast, and the ways we can interact with them are almost limitless. However, a few things are clear: there are far more losers than winners in the…
Why Yelling at Your Trades Won’t Work: Lessons from Competitive Farming”
“Okay, so think about it like this, what if you were a competitive farmer?” It was an early Saturday and I was working with a trader (let’s call him Sam) in…
From Trading Knowledge to Practice: Bridging the Gap for Real-World Success
In trading, perhaps more than most other fields, there’s a big gap between knowledge and results. Success can be elusive, and the path to that success, for both discretionary and…
Make the Market Be Your Teacher
“Learn from the market. Let the market be your teacher.” This sounds like the path to true trading wisdom (and it is), but there’s an obvious question: how do we…
When You Meet the Buddha on the Road…
“While you are walking on the road, if you happen to meet the Buddha, you must kill him.” So reads one of the more enigmatic teachings in Zen Buddhism (attributed…
Return to Day Trading—A New Series of Blog Posts
I’ve been doing some exciting and challenging work recently, and want to share some of it with you. A quick biographical sketch, for those of you who don’t know me:…
On Shorting Stocks
A few thoughts on shorting stock markets, which may prove to be especially relevant here, as we head into the end of 2022. Long-term stock bias One of the most…
The Worst Thing That a Daytrader Can Do
Yesterday, a trader I have worked with a bit over the years (let’s call him M) pinged me with this real-money equity curve: (For the record, that's a pretty good…
Being right and wrong at the same time
I’ve been thinking and writing a lot about uncertainty lately—and about making decisions with incomplete information. Over the past two years, we've all had to make decisions in an uncertain…
Life hacks and learning to trade
One of the interesting developments of the past ten years is the gradual death of the “life hack” approach. This is a good thing. The reason this movement has died…
Are you asking the right questions?
I took part in an interesting exchange in a Facebook group last night, in which a trader was asking “should I buy puts or calls for the spy or qqq?”…
It’s Hard to Learn from the Market
How do we learn? For most things, a pretty simple plan works: do something and evaluate the results. Make some changes to what you do, and see how the results…
How to Get Started Trading? Answer #1: the Casual Approach
I received a question from a reader, Cian, who asks: … My goal is to become a career trader. I am 30 years old and I am currently unemployed due…
A trade I usually skip. Time to rethink?
Today, I want to share some thoughts I’m having on a pattern I usually skip in my own trading. I’m wondering if maybe these are trades I should be taking……
What really moves markets?
In the face of recent historic moves in stocks, crude oil, bonds, and many currencies, it is a good idea to step back and think about a fundamental question: what…
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