At the broadest level, trading consists of analyzing, synthesizing, and doing.

Analyzing is extracting information from markets, immersing ourselves in data.  It is our look through the microscope.

Synthesizing is assembling those data into a coherent picture, extracting pattern and meaning from the reams of market information.  It is our telescopic view.

Doing is taking action on the meaning we have extracted from studying markets.  It includes everything from determining the best expression of a view to managing risk and reward once the view has become a position.

In trading, the microscope and telescope of viewing are transformed into real world doing.

At the end of a trading day, week, or month, we repeat the process–only we turn the lens inward.

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