Trading Card #237: The Sweet Spot by Monroe Trout

Trading Card #237: The Sweet Spot by Monroe Trout

I tend to disagree with Monroe Trout. I think systematic traders are much more likely to succeed than discretionary traders. But we also have to consider that systematic trading has many discretionary inputs…like how many shares/ contracts to trade, what kind of drawdown we should tolerate, which system to use and why. So all in all, probably Monroe is just right.

Trading Card #236: Good Trading Is A Balance by Michael Steinhardt

Trading Card #236: Good Trading Is A Balance by Michael Steinhardt

Michael Steinhardt was one of the most successful hedge fund managers on Wall Street in the 1980`s and 1990`s. Michael was a pure contrarian investor with a very peculiar trading style that would ruin most traders that could be tempted to copycat his methods and trading style. Yet, this market observation is of great value to all traders and investors. Trading is indeed a balance between convictions and tight risk management rules.