My All-Time Favorite Quote... applies to trading

[Scataphagos]

When Sherlock Holmes was asked, "What is it exactly that you do Mr. Holmes"? He replied, "I observe and deduce".

In the financial markets, the "observing" part is easy and obvious. The "deducing" part... that's the rub.

NOTHING more important than that to trading successfully! (Yeah, maybe trading on insider info and front-running... but those are both illegal.)

 

[lawrence-lugar]

That's a good example/analogy....trading and being a private eye.
...you need vision...to see...what's there and evident, and what's hidden.

They are both skills/arts/crafts...that needs to be developed sharply, or you'll die.

 

[Chris Mac]

When Sherlock Holmes was asked, "What is it exactly that you do Mr. Holmes"? He replied, "I observe and deduce".

In the financial markets, the "observing" part is easy and obvious. The "deducing" part... that's the rub.

NOTHING more important than that to trading successfully! (Yeah, maybe trading on insider info and front-running... but those are both illegal.)

For sure, Sherlock would be an amazing trader !
Observing is not that easy... Because you need to observe the good asset at the good time... Then you deduce.
Majority doesn't see the forest from the tree, and lose.

CM

 

[Scataphagos]

For sure, Sherlock would be an amazing trader !

I think the all-time 2 greatest traders would have been Holmes and Mr. Spock.

Of course that's a fanciful notion, but I mention it because they exemplify perhaps the most important skill set for trading success.