Part of the underlying with the "Logics" was to make conscious the decision making process or the Logic that leads to decisions. If something conscious then we may reflect on it, examine it, and determine if it is worthwhile. This "bringing out process" is important for meta cognition. Dr. Win Wenger, an accelerated learning author, writes much to this "bringing out" or "drawing out" process. In this way, this topic is recognizing that the Logics was just one form of this. It wasn't explicitly stated that it was a bringing out process. I find this bringing out process to be very worthwhile and it is worth recognizing as a technique, as a methodology for deriving insight.
One of the problems traders face or contend with is a desire for consistency. The hallmark of a job is consistency. Any regular work job, that's the underlying truth whether you're a programmer or a pickup the trash is you go to work everyday. This is the reason people desire freedom is because there isn't much freedom in any given job. The one connecting factor for the manager and the lowest payed worker is they both have to go to work most everyday. Interestingly enough, people trade for freedom but often schedule their trading in such way that is a job. They structure based on what they know and they believe. If you treat trading like a job then the one thing that you will do is go to work everyday.
Interestingly enough, this desire to structure trading and approach trading in such a consistent way doesn't work for many types of trading strategies. And, you look at Paulson and his big short. This was a rare opportunity. Taleb's black swan funds or whatever they are: they aren't structured to make money like a "job". They are structured to make money from rare events.
So, what's going on? One way to think about this is that anything relatively more valuable must be relatively more rare. Yet, if something is rare then it must be limited. If you are long during the best 20% of the time then you are out of the market the rest of the time.
And, here it is made conscious that the desire to be in the market all the time, to treat the market like a job is against the scarcity principle that underlies and defines opportunity. And, it is also against strangely one of the primary reasons why people trade, which is that freedom from work.
This doesn't mean that one can't day trade or even place multiple per day. Yet, it does indicate that there is an internal struggle. As a trader, you want to be consistent and making profits on a regular basis and yet logic dictates that you are constantly constrained.
One of the problems traders face or contend with is a desire for consistency. The hallmark of a job is consistency. Any regular work job, that's the underlying truth whether you're a programmer or a pickup the trash is you go to work everyday. This is the reason people desire freedom is because there isn't much freedom in any given job. The one connecting factor for the manager and the lowest payed worker is they both have to go to work most everyday. Interestingly enough, people trade for freedom but often schedule their trading in such way that is a job. They structure based on what they know and they believe. If you treat trading like a job then the one thing that you will do is go to work everyday.
Interestingly enough, this desire to structure trading and approach trading in such a consistent way doesn't work for many types of trading strategies. And, you look at Paulson and his big short. This was a rare opportunity. Taleb's black swan funds or whatever they are: they aren't structured to make money like a "job". They are structured to make money from rare events.
So, what's going on? One way to think about this is that anything relatively more valuable must be relatively more rare. Yet, if something is rare then it must be limited. If you are long during the best 20% of the time then you are out of the market the rest of the time.
And, here it is made conscious that the desire to be in the market all the time, to treat the market like a job is against the scarcity principle that underlies and defines opportunity. And, it is also against strangely one of the primary reasons why people trade, which is that freedom from work.
This doesn't mean that one can't day trade or even place multiple per day. Yet, it does indicate that there is an internal struggle. As a trader, you want to be consistent and making profits on a regular basis and yet logic dictates that you are constantly constrained.