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I'm always curious why people don't think through the steps in their process. Like why add something if it only reduces your returns? fibonacci_trading.pdf (ust.hk)

There really isn't a "Keynsian world" of economic thought lol. Modern day macroeconomics incorporates the insights of Keynes and all the other major economists/schools of thought that hold up. Here is a good primer on the basic tenants of "new neoclassical synthesis" New neoclassical synthesis -...

Even a broken clock is right twice a day.

Modern day mercantilism.

It’s directional. If I have a material view I will seek to maximize returns on the view. I’ll usually position 3-10 days before an event depending on what’s going on.

A swap is a derivative, usually comprised of two legs. Common ones include interest rate, fx rate, or total return swaps. It impacts trading because it can increase the amount of leverage in the system.

Informed opinion, even if you disagree with it, is helpful as a point of comparison. That WEO (and WB/OECD) do this for free is of incredible value. Also-- corporate high yield spreads have been compressing:

Glad you got through it! I highly recommend subscribing to updates on their world economic outlook (WEO). They publish it twice a year -- and it is considered the "standard" outlook in the market. Their blog is good for special topics, and their country primers are excellent for getting caught...

If you go to my education post, read the third primer on Us equity market structure.

Generally, I manage leverage as a function of beta (get leverage up to where portfolio beta = ~1), which puts me between 4-6x levered. I no longer have fancy risk management software, so I will dynamically adjust based upon vols. My strategy is long/short which makes managing leverage a little...

Quick economics quiz using real-world examples: Solo-Swan was an early economics model that explained economic growth as being driven by labor force growth, productivity, and capital flows. Contemporary models build off those key concepts. Using that approach, look at the following charts and...

529b***** UGMA/UTMAs are what's normal.

Lol this thread it not a great fit for those who prefer to be ignorant. Your returns are likely time varying and primarily a function of beta, indicating little to no skill. Furthermore, "buy & hold" on your stock picks would probably outperform your active management ex-post, and indicate...

Then maybe you misinterpreted the purpose of this post. This isn't teaching/training a process type of a thread, it an educational reference to serve as the backdrop that a trader should know off-hand. For example, knowing that there are 13 lit exchanges may not add material value to your...

So are you betting on luck or skill?

This is true but in this case you are probably the weaker link in the crowd -- e.g. your market knowledge is less than the average. Practice doesn't make perfect. Perfect practice makes perfect.

This post is about providing traders a foundation in knowledge that they need in order to compete. It does not tell them how to generate excess returns, but it does give them the right information for them to build a good process. In my previous roles and current trading, I generate absolute...

Thank you. @Baron any chance I can get permission to edit the post to add additional links and references?

No, I position before and use news for liquidity.

Welcome to Elite Trader School By longandshort What is this: Elite Trader School is a free and open educational post designed to help serious traders build and improve upon their foundational knowledge in markets. This post mimics the training curriculum at a large investment bank or asset...