After Yellen and Kuroda in one single day we’re now being treated to Draghi’s updated postulations on how to safe modern finance as we know it. Not a day to be active which is why I’m posting the second part of our little mini series on cognitive biases. Once again a PDF of the original draft by Endika Aboitiz, Jr. can be downloaded here. The first part received quite a bit of praise/approval but also some well founded criticism. And that’s fine – if we are starting to believe that we have all the answers then we probably just stepped into another mental trap. Let’s be reminded that looking in the mirror doesn’t guarantee you that [...]
Today and tomorrow we are being treated to a veritable triple whammy of central banker sponsored market perturbations. For an early sample of what to expect over the next two sessions look no further than the spasmodic whipsaw the USD/JPY just painted earlier this morning.
I finally relented to curiosity today and submitted myself to a Myer-Briggs personality test online. Although I’m can’t be sure if those things are completely accurate I was pretty stunned by what I found. And by that I’m not referring to the actual results, which in case you are wondering came out to ENTJ-A:
Yeah, big surprise there, ain’t it. No, what really stunned me was the description of the ENTJ-A personality type as it really describes me down to a tee. They really should put my picture next to that one. I’m not going to dwell on all the good stuff, besides I’m sure you’re more interested in the dirt:
There is [...]
The other day I felt the need to remind everyone that we as retail traders have one principal advantage over fund managers or institutional participants such as trade desks or system operators. We don’t have to trade unless we want to or perceive the express need to risk our capital. Now given by yet another spectacular failure to breach outside a now well established trading range it seems that we again may be well advised to claim that privilege.