3 ms·
For the past year I have been trying to learn more about trading, risk management, etc. There are so many stories about how the markets work and how to make mon
by lootsauce 10y ago
For the past year I have been trying to learn more about trading, risk management, etc. There are so many stories about how the markets work and how to make money in them. You could spend your lifetime throwing money down a hole trying each one and probably do worse than random. I can't say enough good things about the perspective I have gained from just listening to good interviews of people that trade and manage funds for a living. Take a look at https://chatwithtraders.com/podcast/ https://chatwithtraders.com/podcast/ and https://realvisiontv.com https://realvisiontv.com
- usefulcat 10y agoNever trust stories about how to make money in the stock markets, unless said stories are told entirely in the past tense. If someone really does have a successful trading strategy, the only way it makes economic sense to publish it is if they believe they can make more money by publishing it now (i.e. selling books, pageviews, whatever) than by using it to trade. Either that, or the algorithm is being described in sufficiently general terms that you're not actually given enough information to use it effectively.
- lootsauce 10y agoCouldn't agree more.
- cponeill 10y agoHave you read Market Wizards by Jack Schwager? Fantastic book and it really goes deep with how these traders think about approaching and exiting a trade/market.
- gnaritas 10y agoThe problem is it's all hogwash due to survivorship bias; every single one of them could simply be lucky. This is literally no different than interviewing lottery winners and asking them how they chose their numbers. People who write books about the successful are conning you for cash, always. There is nothing to be learned from the habits of just successful people; other than misleading yourself with superstition.