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7 Things You Can Learn About the Market from Greek and Roman Times and Myths

  
  Education
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1. There is a critical point in the market, a critical decision that the market gods weigh on a scale like Zeus with his balance scale deciding whether Achilles or Hector will win, that determines the market fate, and it is key and should be the focus of all news stories and market considerations but never is.

2. Never trust anyone but your family and best friend because everyone is disloyal in a pinch. Peleus was left for dead by his father in law after killing his brother in law to become ruler and this led to the Trojan war. Caesar trusted his best friends but they turned on him when an opportunity for power, money, and romance reared its ugly head.
3. Deception is key. The most successful Greek was the Deceiver Odysseus, and he tricked everyone he dealt with as the market tries to trick you with Odyssean power.
4. The goal is always to come home. Odysseus went home, as does the market. The only loyal ones were the wife and son and the best servant. The market retraces and comes home to break even an inordinate number of times.
5. Never mix romance with business or the market. The Trojan was was started by Paris intervening in romance and being swept off his feet by Aphrodite, and Achilles killed tens of thousands and prolonged the war by 10 years when Menelaus stole his mistress. (more…)

Trading Expert

  
  Education
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What makes an expert? And how can traders develop their own expertise? Three elements:

1) “Measures of general basic capacities do not predict success in a domain”
Experts cannot be distinguished by superior intellects or other cognitive talents.

2) “The superior performance of experts is often very domain specific and transfer outside their narrow area of expertise is surprisingly limited”

Being an expert in one domain does not predict expertise in others; a person can be a highly accomplished trader, but not expert in other areas. Think “niche” — the successful trader has found a particular sphere of success that expresses his skills and interests.

3) “Systematic differences between experts and less proficient individuals nearly always reflect attributes acquired by the experts during their lengthy training”

The expert is one who has undergone a structured, deliberate process of training that builds competencies, offers extensive feedback, and draws upon intensive effort over time to internalize knowledge and skills.

So what might this mean? Here are the good  conclusions:

1) The majority of traders are looking for expertise in all (more…)

Technical Analyst & Fundamental Analyst

  
Education, Humour
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A Technical Analyst from (ASR ) and a Fundamental Analyst (Brokerage Firm )were chatting about the markets Yesterday.
Accidentally one of them knocks a kitchen knife off the table landing right in the fundamental analyst’s foot!
The fundamental analyst yells at our technician, asking him why he didn’t catch the knife?
“You know Technicians don’t catch falling knives!” , our  technician responded.
He in turn asks the fundamental analyst why he didn’t move his foot out of the way?
The Fundamental analyst responds, “ I didn’t think it could go that low”.
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