but it would be fun trying to!
The most memorable impression
- ruthlessimon
- Posts: 2094
- Joined: Wed Mar 23, 2016 3:54 pm
Remember it applies in two contextsjamesg46 wrote: ↑Fri Mar 01, 2019 3:59 pmIts interesting that I've heard these quotes but never took the time to fully understand them.. I've taken them at face value. I think this thread is important to me because of perception.. I'm a lazy thinker, thanks for reply and I will take the time to go further than face value
1. Over reaction
2. Under reaction
The perfect trader is attacking both biases
Also part 2 isnt really talked about; but it's just as important. Currently, my entire trading is based around under reactions. People are being slow (fearful) to react to new information
Funny, reading this just after reading Peter's thought for the week. Strange how people are scared or slow to act. Defo going to keep this in mind (to monitor my bahaviour)ruthlessimon wrote: ↑Fri Mar 01, 2019 8:23 pmRemember it applies in two contextsjamesg46 wrote: ↑Fri Mar 01, 2019 3:59 pmIts interesting that I've heard these quotes but never took the time to fully understand them.. I've taken them at face value. I think this thread is important to me because of perception.. I'm a lazy thinker, thanks for reply and I will take the time to go further than face value
1. Over reaction
2. Under reaction
The perfect trader is attacking both biases
Also part 2 isnt really talked about; but it's just as important. Currently, my entire trading is based around under reactions. People are being slow (fearful) to react to new information
- MemphisFlash
- Posts: 2128
- Joined: Fri May 16, 2014 10:12 pm
- Location: Leicester
"For every market there is a strategy,
and for every strategy there is a market."
and for every strategy there is a market."
This is by far my favourite!!! I'm not sure where the original quote comes from but Peter mentions it with purpose... it's the foundation to a building. Brilliant quote imo.MemphisFlash wrote: ↑Fri Mar 01, 2019 11:37 pm"For every market there is a strategy,
and for every strategy there is a market."
You must be a lot younger than me ‒ it's a very old quote that was used a lot when I was young.
I didn't mention that as a quote as it came from me. I don't know in my dusty memory banks if I borrowed it from somebody in part or whole, but I used it in my very first presentation on sporting markets back in 2004. It just made put sense to me and it sort of stuck and has been trotted out regularly since then.jamesg46 wrote: ↑Sat Mar 02, 2019 12:44 amThis is by far my favourite!!! I'm not sure where the original quote comes from but Peter mentions it with purpose... it's the foundation to a building. Brilliant quote imo.MemphisFlash wrote: ↑Fri Mar 01, 2019 11:37 pm"For every market there is a strategy,
and for every strategy there is a market."
Your role as a trader isn't necessarily to predict the future, just to recognise how you can exploit what could happen. Then look for clues it's about to happen and position yourself ahead of it.
That's 100% true, provided not getting involved in a market counts as a strategy, or extremely low liquid events don't count as markets.MemphisFlash wrote: ↑Fri Mar 01, 2019 11:37 pm"For every market there is a strategy,
and for every strategy there is a market."
"For every market there is a strategy,
and for every strategy there is a market."
That is too vague, doesn't do anything for me whatsoever, Euler has posted many pears of wisdom on here where he is specific. Like the bottom of page 1 here
viewtopic.php?f=2&t=14491
and for every strategy there is a market."
That is too vague, doesn't do anything for me whatsoever, Euler has posted many pears of wisdom on here where he is specific. Like the bottom of page 1 here
viewtopic.php?f=2&t=14491
I remember that thread well, and its well worth a read for anyone who's not seen itEmmson wrote: ↑Sat Mar 02, 2019 1:21 pm"For every market there is a strategy,
and for every strategy there is a market."
That is too vague, doesn't do anything for me whatsoever, Euler has posted many pears of wisdom on here where he is specific. Like the bottom of page 1 here
viewtopic.php?f=2&t=14491
The gist is the guy who Initially asked the question still lost money as he couldn't follow those basic instructions from Euler while numerous other people spotted the thread, followed the instructions and made money by the end of the night, even posting charts!.
It's a very good example of how an edge/strategy could be given to someone and if they don't have the right mindset/psychology they can still make a loss from it.