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COMMON SENSE


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COMMON SENSE

  #91 (permalink)
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returns

Risk Adjusted returns Vs Absolute Returns.

" Traders who worry about their positions and focus on what could go wrong in their trades might be successful by tightly managing risk and achieving superior risk-adjusted returns. That would be different from more volatile, risk-taking traders, who sacrifice Sharpe ratio to achieve superior absolute returns."

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  #92 (permalink)
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brett

From Brett Steenbarger

" Personality traits did not predict performance, but the intensity of emotionality during trading did--in a negative way. It didn't matter whether the emotion was positive or negative: intensity of experience was disruptive of performance.


a study I conducted with Andrew Lo and Dmitry Repin with traders studying with Linda Raschke found that high levels of emotional reactivity were associated with worse trading performance. Personality traits did not predict performance, but the intensity of emotionality during trading did--in a negative way. It didn't matter whether the emotion was positive or negative: intensity of experience was disruptive of performance.

Still, the research of Lo and Repin suggests that emotions do play an important role in trading decisions. Even experienced traders, hooked up to biofeedback units while trading, display patterns of emotional arousal in the context of their trading. That research also found, however, that experienced traders displayed less intense emotional reactivity than inexperienced traders. Once again, we see an important distinction between emotional intensity and frequency. Perhaps one valuable aspect of training and experience is that they enable us to dampen the intensity of our emotional reactions within whatever temperament we might have. Once we've been there, done that, it's easier to not overreact to situations.

We gravitate toward particular trading approaches for many reasons: our cognitive strengths, personality traits, and emotional temperament all likely play a role in determining whether we seek success as systems traders, investors, daytraders, or active portfolio managers. Ultimately, our trading reflects who we are and either generates emotional experiences that suit or frustrate our temperaments. That fit of trading experience and personal temperament may well be an important mediator of sustained trading success. "

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  #93 (permalink)
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intensity of Emotions


My short of 101.50 area this morning and then adding all the way upto 102 ONLY makes sense if " INTENSITY"
of emotions are under control.

As Brett Steenbarger said " Personality traits did not predict performance, but the intensity of emotionality during trading did--in a negative way. It didn't matter whether the emotion was positive or negative: intensity of experience was disruptive of performance."

I bet these pilots will make good traders. They keep INTENSITY of their emotions under control.



Last edited by mfbreakout; July 28th, 2014 at 11:50 PM.
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  #94 (permalink)
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longs

Longs and longs in TF.

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  #95 (permalink)
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shorts and longs

Out of short 100.48 on failed A down.

Long 100.67 off ORL on daily failed A down. Out some 101.14. Need to break 100.60 with CONVICTION area for more down moves today otherwise stuck in a box.

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Last edited by mfbreakout; July 29th, 2014 at 10:55 AM.
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  #96 (permalink)
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GOLD

short. seems like 1293 to 1320 is the box for GC till some change comes up.

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  #97 (permalink)
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control

INTENSITY OF EMOTIONS .

No control = No trading or driving/riding fast cars. Nothing personal but that's the way it is.



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  #98 (permalink)
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mfbreakout View Post
INTENSITY OF EMOTIONS .

No control = No trading or driving/riding fast cars. Nothing personal but that's the way it is.




That was awesome....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #99 (permalink)
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cl

" Need to break 100.60 with CONVICTION area for more down moves today otherwise stuck in a box."

long 100.66 Out flat 100.93 . Do not want to trade 2.15 to 2.30 pm time period. Will tarde API news which comes out today at 4.30 pm.

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  #100 (permalink)
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question


Q) Are there any educational programs i can recommend?


A) 5 years ago i took some training programs ( SMB capital $5400 and $2500 on Fibs. and Geometric patterns etc)
I did not get much out of these programs. These approaches just did not appeal to me. Oh i forgot, i also paid $1200 or so to Don Miller recorded traing program. Since it was recorded it was offered at discount from live program which cost like 10K or something like that. It was full of fire side BS chit chat.

Since then i have not taken any more courses. Took some $200 type of courses in options etc. to understand them.
I have looked at many programs - when someone asked me to look at them or on my own. I have not found a single
offering which i will participate.

Key reason being i have no way to make a judgement about the programs. For example, someone asked me to look at Proprietary Trading Training Programs | Online Trading Courses and Certification | Prop Trading Education | Alpha 7 Trading Academy. The site is professional and resume of presntor is good enough. I go under webinar section. I listened to 2 1 hour webinar of their teacher. It is full of fireside chit chat. Lot of general guidelines which one can find from 100's of webinars spread across futures.io (formerly BMT) and other forums etc. In 2 hours of chit chat, if presenter had spent 20-30 minutes of trading set ups, execution etc i could have made an assessment.

They are promoting courses ranging from $3000 and on. Courses include hours of videos, detail charts etc.
I would like to see 10% of recorded videos of the actual course before deciding. I have not found a single source/program which offers that and thus i remain NEUTRAL at best.


NOTE: I have no problem if some vendor gets something from my journal. It's a public journal and free. Previous journal alone had around 5,000 attachements ( 95% of them charts). What gets under my skin from time to time that they do not have decency to hit Thanks tab. There are some vendors or regular readers who been coming to my journal for 4 years ( and still do) and has never ht a THANKS tab once. To top it off they do not contribute to rest of futures.io (formerly BMT) in terms of journal, informative posts etc. They just scratch their -------.


Fire Side BS= Basically everything presenter talks about listener can not help agreeing with the presenter. Everything makes sense. After all these universal truths are not only helpful in trading but alomost everything in life. For example, do not use leverage, focus, wait for ideal opportunity and on and on. However, after fire side BS is over, a trader stays right where he started. Full of wisdom but nothing practical.


Last edited by mfbreakout; July 30th, 2014 at 09:29 AM.
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