Science
Our approach to markets is ascience. It is an unpublishedscience, but it is a real one.You would have thick leather-boundvolumes of papers on it if there were awillingness to “open the kimono,”as the horrible modern expression has it.The process of trading our system is likerepeatedly drawing different colored ballsfrom the statistician’s apocryphal bag.As we draw out a ball it becomes part ofthe track record, and we put it back inthe bag, but there is no guarantee that theballs will come out in the same orderin the future.1
“Do you have a clear sense of probabilities and payoffs?”
Did you answer “no?” If so, you need to figure it out, and fast.
For example, trader Jim Simons (arguably a closeted trend trader—he does not identify as one), ...
Get Trading the Trend (Collection) now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
