“There are men whose gait is far quicker than the mob’s. They are bound to lead — no matter how much the mob changes.”

– Reminiscences of a Stock Operator

What does it mean for a trader to lead — to have a gait far quicker than the mob’s?

In a short-term time frame, it means faster reaction time. Having the ability to see the meaning of an inflection point, and act on it in size, before the mob catches up.

In medium or longer-term time frames, it means the ability to see “general conditions” crystallize around probabilistic outcomes well before the mob does. Market analysis will vary widely in quality. Not only that, but some market participants will be slow to pay attention — or get bound up in emotional bias, or otherwise get their variable weightings wrong.

These factors then combine to create windows of opportunity, on a consistent basis, for those whose observations are accurate and timely.

Are you “bound to lead” in your trading? What aspects of your methodology reflect this?