B]chump[/B]
Each view adds data which if I interpret it correctly brings a more comprehensive knowledge of the object. I see the financial markets in the same way and price is one of the 'sliced' views. Can that view be distorted , yes it can. That brings us though to the argument is it the data that is distorted ,or is it the way the data is interpreted that leads to the distortion. In other words is it the tool ,or the hand on the tool that leads to undesireable results.
Just so.
However the problem resides therefore in gleaning a true data set, if, you are examining price, defined by market price.
The market price can be composed of;
*sentiment
*arbitrage
*hedging
*off screen orders
*the psychology of price driving price [price reacts to itself, driving the traders to reposition]
*non-market price viz. value of the business [fundamentals]
*others
To accurately gauge all the components requires;
*knowledge
*time
*information [not generally available in a timely manner]
Components required to capitalize on price knowledge;
*non-leveraged positions
*methodology if leveraged to sit through whipsaws if necessary
*analysis tools [that quantify, rather than qualify]
*analysis tools that qualify [consistent, robust]
but perhaps of even more importance how good are we at using the data strategically. In other words it is not simply what we know (data) that derives our results , it's what do we do by way of action with that data. There's a lot of evidence to suggest the latter is at least as important as the former which I have expressed before as being "it ain't the tool" ,it's the hand that guides the tool" that makes the money.
Certainly.
Are you talking about "themes" at this point? Or, individual psychology?
The two can be quite closely inter-related, but, easier to define if approached on an individual basis.
An example possibly of a very broad and enduring theme, has been, and still is, the theme of inflation, the dollar, and gold. I notice however that oil has crept into the equation recently.
Joules
.........in Bens case, skip the work and disrespect the authority......sure plenty of sprinters get away with masks.....but they know about themselves.......just like the chatter who makes out how well they are doing.....they know......they also know the plan they are using and it's flaws ..........and ........some don't have a plan or strategy.......
we know.......not the gear.......Jesse Livermore had a tape machine......
An interesting analogy.
We have BJ, who won an Olympic Gold, due to the use of Winstrol [stanoazol] & JL with his tape machine
I presume here, that you are inferring that JL, would have succeeded, or failed, irrespective of his having a ticker, at a time when they were relatively rare to retail traders. This begs the question, which
chump was alluding, does access to raw data, add an advantage, or is it the interpretation?
I think that you are inferring the same; viz. JL would have come to the same conclusions with or without the ticker. However, we enter a very interesting area with athletes and performance enhancing drugs...........placebo effects [psychologically driven] possible? Absolutely.
Measurable & Quantifiable physiological effects? Again, the answer is yes.
With the placebo effect, the brain fools itself, and raises the performance level. This is true through all medicine, and human endeavour, is it also true for the analysis of data within financial markets?
Can someone look at the map, an incorrect map, yet still navigate the territory?
jog on
d998
