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Perhaps it falls under biases but I'm surprised he didn't mention: Know when to quit. Or more precisely: Define your exit points and stick to them. That is, we
by chiefalchemist 3y ago
Perhaps it falls under biases but I'm surprised he didn't mention: Know when to quit. Or more precisely: Define your exit points and stick to them.
That is, we all have a tendency to double down on bad decisions (as things go sideways). Or we get greedy as things go well and hold longer than we should.
- ldx1024 3y agoLooks like it was under temperament: "Some people are able to remain rational and continue to follow their process even under great duress or during periods of external upheaval. Others get swept up in the emotion that typically runs amok during such circumstances, and abandon their discipline."
- ant6n 3y agoOn that note, what’s the easiest way to build a personal trading bot? Something in a simple language, that I can still nacktest perhaps stock and options.
- Closi 3y agoThere isn’t - you are competing against big bank trading bots in a world where the best bots win.
- ant6n 3y agoNah. If you have a bot that invests 10K, and has a reaction time of a minute, and invests in 10-100 equities with, say a couple of months each time, then you are in a completely different world than big bank bots. Its like Warren said, its easy to invest a million.
- Closi 3y agoIt's easy to invest a million in some index fund, but it's not easy to beat the market.
- anonymoushn 3y agoObviously nobody should trade cryptocurrencies, but cryptocurrency exchanges tend to have unusually equitable market access for solo quants compared to US equities or whatever.