Friday, October 25, 2013

Less is more

I guess most traders have come across Reminiscences of a Stock Operator, the famous biography of Jesse Livermore. In it, Livermore talks about a trader he knew of, who lived in the mountains and received his newspapers when they were three days old.



Ed Seykota, the famed trend follower profiled in Market Wizards, was found to have a single computer in his office, which he only used after the market closed to run his programs to find commodities to trade.

Can the same approach work in the 21st century? Absolutely. If anything, the computing power available these means that scanning for potential trading opportunities should take a matter of minutes.

I set out my own trading routine here.

Food for thought for those stressed out traders glued to a screen all day straining for a few ticks.

1 comment:

  1. Hello Trader Steve,

    Good post; I agree completely. Another example is Nicolas Darvas who used to travel to exotic countries around the world while trading only off telegrams and stale magazines. Rather than being a hinderance, this lack of information allowed him to focus on what mattered most, which was the pure price action.





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