In this Ted talk below, writer Julia Galef argues that making good decisions is dependent on employing a scout mindset. This talk is helpful for us as traders to make the best trading decisions. Galef breaks mindset into two categories: scout mindset and soldier mindset. The soldier mindset defends their ideas. This “motivated reasoning” tries to make some ideas win … Read More
In this video Seth Freudberg discusses why it’s so important to have a contingency plan for your trading. Traders never know when something unexpected will happen. Professional Traders always have a contingency plan for unexpected market events. This video reviews some of the viable contingency plans that are used by professional options traders.
LVS hit our radar for a Spencer (my trading partner) 2nd Day play. There was not much a news catalyst in LVS, but yesterday it traded a higher RVOL, finished near the bottom of its range, and traded significantly weaker than the market. We walk onto our trading floor today wondering if there will be follow through or a bounce … Read More