Is intelligence important for trading?

[LongShot]

Quote from thunderbolt:



What's the correlation?

what?

 

[thunderbolt]

Quote from LongShot:



what?

What's the connection of M-T and a lobotomy?

 

[LongShot]

Quote from thunderbolt:



What's the connection of M-T and a lobotomy?

absolutely none.


i am speaking to the thread topic here when i referred to my frontal lobotomy. i think intellect is fairly important so i was simply making a joke to make this point.

how'd you do at M-T today?

 

[cheeks]

Quote from marketsurfer:



LTCM failure has nothing to do with intelligence--it has to do with GREED and EGO.

Probably true. But Meriwether will be back. I think he is a better trader than most give him credit for. He got himself caught in a arb traders nightmare, liquidity dried while vol soared. He thinks outside the box and he is cunning. As long as you don't get too brave, that is usually a good combination.

 

[thunderbolt]

Quote from LongShot:



absolutely none.


i am speaking to the thread topic here when i referred to my frontal lobotomy. i think intellect is fairly important so i was simply making a joke to make this point.

how'd you do at M-T today?

Okay. I pulled in 2 points on 500 shares.

 

[LongShot]

Quote from thunderbolt:



Okay. I pulled in 2 points on 500 shares.

great. nice day. how many trades? were all your trades called by M-T? (or a few of your own?)

 

[thunderbolt]

Quote from LongShot:




great. nice day. how many trades? were all your trades called by M-T? (or a few of your own?)

All M-T and I made 8 round trips(long & short).

 

[LongShot]

Quote from thunderbolt:



All M-T and I made 8 round trips(long & short).

that's great, now here's my question:

M-T can easily make 30+ calls per day (and probably more now that there are 3 mods),

how did you pare those 30+ calls down to the 8 that you did take?

 

[thunderbolt]

Quote from LongShot:



that's great, now here's my question:

M-T can easily make 30+ calls per day (and probably more now that there are 3 mods),

how did you pare those 30+ calls down to the 8 that you did take?

I only play one call at a time. I try to scalp the trade for at least .25, sometimes it's more if it has good momentum. Once the trade is completed(profit or loss), I'll look for the next set up. If I feel that I can get the stock at or near the called price, I'll take it.

 

[marketsurfer]

Quote from cheeks:




Probably true. But Meriwether will be back. I think he is a better trader than most give him credit for. He got himself caught in a arb traders nightmare, liquidity dried while vol soared. He thinks outside the box and he is cunning. As long as you don't get too brave, that is usually a good combination.

absolutely ! meriwether is a freaking trading/market genius and has my total respect. the blowup was the "black swan" occurence combined with the desire to keep pushing (ego/greed).

best,
surf