Taleb

[kimo'sabby]

Rule 9 seems a bit strange to me. You can't really separate profits and losses so easily, they're both part of the game, so to learn about how someone profits also teaches you about losses and vice versa. Also, are we to assume, that because someone made large profits with trend trading strategies, that there is nothing to be learned from that, or that the market has adjusted to eliminate it? I don't think so.

Other than that, some interesting rules of thumb, but rule 6 seems a bit wishy washy, though perhaps true.

Trading is mostly an emotional experience, because of this, most don't do that well. It's better to study the downside more rigorously, there's lots of it and it's more important to know wot not to do.

Trading upside is simple, but never easy.

Long term trends are easily called, but most(99.9%) will take an early profit, guaranteed.

 

[TheBramble]

Like I said, one can build a profitable trading business from just that rule/trading law.

No you can't.

 

[TheBramble]

Oh yes I do and it's a big sign on my office which reads -

No you don't.

 

[TheBramble]

Normally the best, and safest moves come from price structures that minimise profitable particpation. Also, called the Law of Perversity.

No it's not.

 

[anley]

No you can't.

Yes you can because to be a success in this business one of the first things you have to do is realise the markets are perverse, and perveristy dogs all traders.

Therefore, trade only when there's evidence of perversity in the price action which is what my rule is all about, hence one can build a trading career from it.

 

[the hare]

That Nassim Taleb bloke is an intellectual pygmy. Surely he knows that you can protect yourself against a black swan by giving it a sharp whack on the beak with a rolled up copy of the financial times ?

 

[TheBramble]

Yes you can because to be a success in this business one of the first things you have to do is realise the markets are perverse, and perveristy dogs all traders.

Therefore, trade only when there's evidence of perversity in the price action which is what my rule is all about, hence one can build a trading career from it.

No you can't.

 

[anley]

No you can't.

Oh yes you can!

Shall we stop now

 

[kimo'sabby]

Panto season. Is this Aladin or Jack 'n' the Beanstalk.

 

[TheBramble]

OK, yeah, let's stop. Being perverse is bloody tiring...good job there was nothing to aim a trade at today....