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The Definitive Guide to Mastering the Psychology of Trading by Mark Douglas
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The Definitive Guide to Mastering the Psychology of Trading by Mark Douglas

  #71 (permalink)
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aquarian1 View Post
If the market was a matter of applying statistics (the fat tail) and obtaining an edge, then the Goldman Sachs of the world have:

huge amounts of money
vast armies of statisticians
armies of programmers
vast arrays of computers
lightening fast data feeds
and many other resources including the desire

They can throw $50M of cash at an single experiment with an algo
They know that via compounding the potential profit of an edge grows to a staggering amount of money and $50m is chump change.


In my opinion if application of statistics to the market gave them a trade-able edge, then it would have been done.
I do not believe the answer (for me) lies there.

But I do believe psychology - and hence this thread - is very important.

There are many large firms that trade statistics quite successfully; DE Shaw and 2 Sigma come to mind.

The application of statistics does in fact give a tradable edge.

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  #72 (permalink)
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TheTradeSlinger View Post
There are many large firms that trade statistics quite successfully; DE Shaw and 2 Sigma come to mind.

The application of statistics does in fact give a tradable edge.

Perhaps they do use statistical and perhaps they do make money on 100 of thousands of transactions with infinitesimal edges but that doesn't imply a causal link to a tradeable edge from statistics.

Usually they use statistics to determine a small variance between a theoretical asset price and an instrument (or basket).

Also, I was using tradeable edge in the sense of one security trade (buying and selling the same security) as we are thinking of the term in this thread. More to the point a retail trader must overcome the bid-ask both in and out in addition to the retail commission.

Keep your mind in the future, in the now.

Last edited by aquarian1; February 28th, 2016 at 02:44 PM.
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  #73 (permalink)
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I don't think I posted this before from Mark's book but I might of. Either way it bears repeating.....


http://amzn.to/1Pk353Z


Ron


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It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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More important words from Mr Douglas IMHO...

http://amzn.to/1TY7Zvn


Ron


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It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #75 (permalink)
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@Blash links don't work.

Keep It Simple
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  #76 (permalink)
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DELTA007 View Post
@Blash links don't work.

Copy the link and paste it into your browser and it will work; don't know why, but we have seen that before with these Amazon links.

Bob.

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  #77 (permalink)
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@Blash, unfortunately, all these links give me just Paula T. Webb's introduction, and then you get a come-on to buy the book. The same for all the links, here and in the other thread. Nothing of Mark's at all.

I grant you, Amazon has a perfect right to want us to pay for it.... But I was looking for a free lunch . Guess I'm not going to get one.

Thanks for the effort. I may just buy the book anyway, without the freebie.

Bob.

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  #78 (permalink)
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The Definitive Guide to Mastering the Psychology of Trading by Mark Douglas

[QUOTE=Blash;561326]More important words from Mr Douglas IMHO...

http://amzn.to/1TY7Zvn


Ron



Please forgive me regarding these links. I just took a screenshot. My intention is to not break copyright rules and it seemed Amazon was intending this as well. Hopefully posting of this image will still be abiding by the rules.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Ron


Sent from my iPhone using Tapatalk

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Reply With Quote
The following 2 users say Thank You to Blash for this post:
 
  #79 (permalink)
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bobwest View Post
@Blash, unfortunately, all these links give me just Paula T. Webb's introduction, and then you get a come-on to buy the book. The same for all the links, here and in the other thread. Nothing of Mark's at all.



I grant you, Amazon has a perfect right to want us to pay for it.... But I was looking for a free lunch . Guess I'm not going to get one.



Thanks for the effort. I may just buy the book anyway, without the freebie.



Bob.


Last time I checked the book was actually cheaper than when I bought it. It's now in 4 sections each for $19.95 or something around there so $80 total and I spent $95 for the whole thing before they changed how they were offering it to more fully align with Mark's wishes for the book.

Ron



Sent from my iPhone using Tapatalk

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Reply With Quote
The following 2 users say Thank You to Blash for this post:

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