Keeping the Ship Pointed in the Right Direction

Having more is an endless horizon. No matter how much you have, that voice of “more would be better” drives you to make acquisition the name of your game. ~ Vicki Robin, Your Money or Your Life In this quote, Ms. Robin is riffing on the common insatiable desire for...

Reconnecting

In stillness you can hear yourself think. In stillness you can remember who you are. In stillness you gain perspective. In stillness you connect to purpose. ~ Ralph Marston As I'm winding down this week with the prospect of some upcoming vacation time filling my mind with thoughts of free...

The Journey Never Ends

Again and again I learned that lack of equity was a leading cause of failure. ~ Phil Knight, Shoe Dog It seems this is an issue not unique to the world of trading. With big eyes and full hearts, we often try to bite off more than we can chew....

My Reactions Determine My Success

Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets. ~ Passage from New Market Wizards, Jack Schwager There are very few people in the U.S. that can look at the stock market performance since March and...

A Practice For Staying on Course

I also suggest that once every ninety days or so you take an hour to read your journal entries from that period. But don’t be overly focused on the details, like the budget meeting three weeks ago or last Thursday’s pasta dinner. Instead, focus on the broader patterns or trends....

Pride

I think Pride holds me back. I'm just riffing here, but its something that has been on my mind recently. When I look back upon my career, relationships (with people and money), education, and even sports, I think in many (if not all?) cases, I've been driven by a warped...

The Proof I Seek is Found in the Trades I Make

No way of thinking or doing, however ancient, can be trusted without proof. ~ Henry David Thoreau, Walden Simulated Trading. Backtesting. Forward Testing. Optimizing. All of these steps, and more, are vitally important to any aspiring systems or algorithmic Trader. Creating a strategy out of thin air or on a...

I Am Not My P&L

Happiness is our natural state. Happiness is the natural state of little children, to whom the kingdom belongs until they have been polluted and contaminated by the stupidity of society and culture. ~ Anthony De Mello, Awareness Remember a time when all the mattered was whatever happened on your block,...

What Makes Me Stand Tall

The only things that can ever have value to you are the things you’ve invested yourself in. Each setback is an opportunity to invest more, and to enlarge the size of your eventual reward. ~ Ralph Marston This is what has always driven me in trading. The ability to build...

Serenity Leads to Profits

You don't have to add anything in order to be happy; you've got to drop something. ~ Anthony De Mello, Awareness A couple weeks ago I published a piece discussing transitioning my portfolio into a long gamma, long volatility trading strategy. You can read it here. I hinted in that...

The Next Great Advance

Sometimes you have to give up. Sometimes knowing when to give up, when to try something else, is genius. Giving up doesn’t mean stopping. Don’t ever stop. ~ Phil Knight, Shoe Dog I'm too hard on myself. I've often confused the point Mr. Knight is making above. I've often tricked...

What’s the Keyboard Cowboy Version of Coal Mining Dust?

So it goes for our kids. It’s tempting to tell them exactly what they can and can’t do. It’s tempting to tell them what you expect them to do, or explain how the world works. But would you have listened to that when you were their age? What did you do...