Poker, Sex and Dying is the title of a book by Juel Anderson published some time in the early 1980s. Some years after publication it was out of print and somewhat forgotten, but accidentally option investor David Caplan found a copy in a second-hand store. He was so impressed by the content that he purchased…
Charlie Munger likes to think inversely. Inverse thinking simply means focusing on the things you don’t want to happen. Munger didn’t invent this concept, but he has made it immensely popular. (We recommend reading our article about Charlie Munger quotes.) While Munger turns the question on its head, he touches upon a very important aspect:…
Many traders want to take the leap and go full time. Being a full-time employee while your real passion is trading, can drain your energy. It’s frustrating because your mind is elsewhere: the dream of freedom, independence, and becoming wealthy while you are working from wherever you like. No commuting, no boss, no 9-5 stress….
I have just finished reading Curtis Faith’s The Way of The Turtle (for the second time) and below you find some very short comments about the book. This is a very good book! If you’re a beginner or not very experienced this would be one of the 5 trading books I would recommend. I will…
At what time of day does SPY/S&P 500 set high and low? How much does SPY move in a day? What is the best time to trade SPY?Let’s find out by doing some backtests. This morning I looked at when SPY makes high and low during the trading day (regular market hours from 0930 to…
These days computer and algo trading do most of the volume in the US. Stocks move very fast and at a very thin volume. This creates some nasty challenges for the individual daytrader. Either you have to compete on the same terms as them (or trade with them), or you have to do something different….
I regard Victor Niederhoffer’s The Education Of A Speculator as a must-read for any aspiring quant. Why? Because it explains the foundation and principles for successful speculation. In this article, I give a brief review and summary of the book. In the end, I give you my main lessons and takeaways from the book. I…
