Archives of “snippet” tag

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China’s parliament opens on May 21 (no balloons allowed)

  
Analysis, Politics
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Here’s a little snippet:

  • Beijing has banned the flying of all aerial vehicles and balloons for entertainment, advertisement or other purposes within its administrative area from May 20-28.
Due to the annual parliament set to open on May 21.
  • annual meeting of China’s top lawmakers and political advisers
  • nicknamed the “Two Sessions”
  • The Two Sessions include the plenary sessions of the National People’s Congress (NPC), the country’s top legislature, and the Chinese People’s Political Consultative Conference (CPPCC), a body that advises the government on a range of issues.
china xi

Coronavirus death toll by country – falling, plateauing

  
  Analysis
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A graphic snippet from the FT is encouragement that global cases and deaths are on the downslope (still higher but at a slowing pace).

A graphic snippet from the FT is encouragement that global cases and deaths are on the downslope (still higher but at a slowing pace).
While the numbers on the vertical scale are not corrected for population a look at how the slope for each country is performing is a better guide – acting early paid dividends. In absolute terms you can see the human death toll inflicted on the US from the three months spent in denial and delay.

At least eight strains of the coronavirus are making their way around the globe

  
  Analysis
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Check this out for more, a snippet from the piece:

  • While researchers caution they’re only seeing the tip of the iceberg, the tiny differences between the virus strains suggest shelter-in-place orders are working in some areas and that no one strain of the virus is more deadly than another. 
  • They also say it does not appear the strains will grow more lethal as they evolve. 
  • “The virus mutates so slowly that the virus strains are fundamentally very similar to each other,” said Charles Chiu, a professor of medicine and infectious disease at the University of California, San Francisco School of Medicine.
Check this out for more, a snippet from the piece: 

King of Turtle Traders

  
  Education
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I’m currently rereading “Complete Turtle Traders“ and if you’re not familiar with the story, I highly recommend this book. There aren’t many books that I reference often and this is one of them due to the psychological insight of trading and it’s impact on your performance. And what you’re going to read below is just a snippet from the first 27 pages of the book.

Richard Dennis is fast becoming one of my trading icons as I learn more about his attitude and methodology on trading and life. Here are a few quotes from the book that will offer some insight into what type of person and trader he was at that time:

His emotional attachment to dollars and cents appeared nonexistent.

He thought in terms of leverage.

You’re much better off going into the market on a shoestring, feeling that you can’t afford to lose.

Reacting to opportunities that others never saw was how he marched through life.

….you had to be able to accept losses both psychologically and physiologically.

I’m an empiricist through and through.

….the majority is wrong a lot of the time. The vast majority is wrong even more of the time.

He was an anti-establishment guy making a fortune leveraging the establishment.

Dennis read Psychology Today to keep his emotions in check and to remind him of how overrated intuition was in trading.

I think it’s far more important to know what Freud thinks about death wishes than what
Milton Friedman thinks about deficit spending.

You have to have mentally gone through the process of failure.

He has the ability under tremendous pressure to stand there with his own money and pull the trigger when other people wilted.

When he was wrong, he could turn on a dime.

One man’s volatility is another man’s profit.

SUBJECT: What makes a frustrating market?

I wanted to end with a quote from one of the most famous Turtle Traders of all, Curtis Faith, that very much resonates with my methodology of zentrading. This comes from “Inside the Mind of the Turtles”which is another book I recommend. Do not buy his second book “Way of the Turtle”. It was absolutely horrible and very poorly written. I’m still reading his new book (very promising) and I’ll let you know how that one goes. Anyhow…here’s the quote and pay special attention to the phase in italics and if you found this post especially useful please retweet and share with your networks. I look forward to reading your comments and any particular insight you may have.

Winning traders think in the present and avoid thinking too much in the future. They look at the future as unknowable in specifics, but foreseeable in character. To win you need to free yourself and your thinking of outcome bias. It does not matter what happens with any particular trade.

10 losing trades + sticking to your plan = bad luck.

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