As a premium seller I couldn’t have scripted a better week for the $SPX. So much economic data that the market almost seems confused as to which way to go. September is probably one of my favorite months to write premium. However, October can be a different story (2009). Have a great weekend and enjoy the links!
Is failure a better teacher than success?
Self−Discipline: Why is it so Difficult?
The 10,000 hour rule has become a cliche
Is it better to trade alone or with others?
Wall Street Drug Use: Employees Giving Up Cocaine for Pot and Pills
This Post Has 2 Comments
re: ” is it better to trade alone or with others ” – I found with StockTwits getting ideas from top traders leads me to the point that puts me in an area of items ready to take a trade on, but at the point of executing a trade i believe one must trade alone because he really isnt alone at all. His brain is processing trades on other end and behaviors of traders all trying to gain an advantage.
From a pure risk management perspective I would agree. Only you know your risk tolerance and can trade accordingly. Trying to follow someone’s trade from start to finish can be tricky, depending on the time frame used.
However, with longer time frames I’d argue that more minds make for a better trade as each bring a different perspective to form a well-rounded thesis. And as the article suggests, success would be dependent upon “good communication” and “confidence” amongst the participants.
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