Global Macro Trading Journal

Quote from moo:

I hope you would continue here. This has been one of the few interesting threads remaining on ET, very much thanks to you.

Just ignore the idiots.
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Cheers for that.

I know my particular brand of vodka isn't for everyone... I enjoyed this thread purely for the sake of intellectual food for thought and quality of debate (most of the time).

My motives in posting here were the same as they are elsewhere, to clarify my thoughts through writing (to a certain extent writing is thinking) and to be stimulated by a diversity of viewpoints.

But apparently some folks -- most folks here? -- took it all as a dick-measuring contest and would prefer two-sentence trading ideas (which seems lame to me, who trolls a message board for tips with no context?) to concept exploration, spirited repartee, etc.

Which, hey, is totally fine! Whatever blows a guy's hair back, you know? Potato, potahto, dom perignon, two buck chuck, whatever...

Certainly no lack of alternative outlets (or trading related projects to undertake). Hell, I should be grateful for the reminder to prioritize.

Aww shit, I've done it again... already bored you guys by going over 100 words... :D
 
Quote from darkhorse:

Aww shit, I've done it again... already bored you guys by going over 100 words... :D
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you are right - you've done it again - pure masturbation that nobody gives a shit about.

btw in general nobody minds the intellectual argument - everybody welcomes that - that's why we primarily log in to this site.
but nobody gives a shit about some play on words which is what it disintegrated to here.

if you do not like someone then tell him you have different view and fuck off - that's how it works on a trading desk. we have limited time in life! arguing ad infinitum about what you had for breakfast is for academics.

that's not to say anybody wants you to leave - you are a smart guy and there are not that many here. it is just that you should pick your battles more carefully. i guess that's also what moo meant....

and btw it is about trading - i give a shit if you pray to Jesus or Satan...give us your take based on your positioning!
 
Quote from dhpar:

you are right - you've done it again - pure masturbation that nobody gives a shit about.

btw in general nobody minds the intellectual argument - everybody welcomes that - that's why we primarily log in to this site.
but nobody gives a shit about some play on words which is what it disintegrated to here.

if you do not like someone then tell him you have different view and fuck off - that's how it works on a trading desk. we have limited time in life! arguing ad infinitum about what you had for breakfast is for academics.

that's not to say anybody wants you to leave - you are a smart guy and there are not that many here. it is just that you should pick your battles more carefully. i guess that's also what moo meant....

and btw it is about trading - i give a shit if you pray to Jesus or Satan...give us your take based on your positioning!
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Oh good lord, it was a joke... fuck you too jobu, I gave my take plenty of times (on Aussie $, gold, silver, financials, risk of rally, etc etc) with some pretty damn good calls to boot.

And as for this meme of "limited time in life," ad infinitum bitching about long posts etc, fuck you again double time, speaking as someone who absorbs the informational content of half a dozen newspapers per day, a solid stack of research, 300+ charts, and apparently still finds time to write faster than some people read. I didn't realize that absorbing quickly was such a chore.

I mean for christ's sake, intelligence, precision and articulate communication are not handicaps, whereas a professed habit of getting bored within 5 seconds damn well is one. I have zero respect for anyone who plays the "I'm dull-witted and proud of it" card.

But again, whatever. See you on the other side of some trades.
 
are you finished?
:D

p.s. nice to see plugging in two "fuck" words in your heroic post.
but you need to practise that more so it looks natural. :)
 
I'm a fan of sharing lots of trade ideas as well, I try to put out mine and analyze the ones put forward by other people as much as possible.

But I'm also a huge fan of mastering the 'fundamentals', that is, how to think correctly about markets, finance, economics, order execution, broker selection, mathematics, statistics,etc.
Will mastering of these fundamentals lead to lots of trade ideas and superior returns?Maybe yes maybe no but I've found that being right on them can prevent a LOT of silly mistakes, the types that can add up to a significant portion of your networth in a compounded basis in the long-run.

Thats why I sometimes post things completely unrelated to specific trades in the journal and debate those topics as well. Thats why I suggested that to the average person volatility is a superior measure of risk than any nonsense they might come up with that will usually be even more wrong than vol. Is there a trade idea there?Probably not but it helps deepen my understanding of how things work, even if it only improves my understanding by 0.1% those kinds of things add up in the long-run and keeps your edge over the competition
 
Monish Pabrai provided a great example, he took comfort in sayings like 'volatility is not risk' from Buffett, so he kept buying a bunch of high vol stocks that the market was uncertain about, he got killed in a number on them(He trails the market since 2007 by several basis points). The market was right and whatever he was using as measure of 'true risk' was wrong. When the person is not a genius like Buffett this will happen MUCH more often than not so therefore when the market tells them something is "risky" they better pay attention even if the gurus tell them not to.

The fact that this simple point was argued against it was surprising to me, I thought it was common sense
Is there a trade idea here?No but if I the trader can't get the basics right then he will get a lot of other stuff wrong too
 
Quote from darkhorse:





Aww shit, I've done it again... already bored you guys by going over 100 words... :D
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the trading industry is filled with add types,lack of concentration improves the ability to watch several markets at once,unfortunately it more often than not causes one to skim thru articles,so it's not you ,it's the readers
 
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