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Boris Schlossberg

@Fxflow

Jan 23

@kevinmuir

1/ Ok here is thread two of the @kevinmuir interview with @agurevich23
“Treat a trade like a bullet from a gun”.

Conventional wisdom states that as traders we should be nimble and react to new information swiftly.

2/ Thus the trading cliche repeated mindlessly by so many PMs on podcasts “we have a strong opinion weakly held” meaning that we are confident in the trade but if new data disproves our thesis we will bail from it like a flock of pigeons scattering on a sidewalk.

@agurevich23

3/ @agurevich23 flips the conventional on its head by saying that you should have weak beliefs strongly held, meaning that once you commit to trade you should hold it to target or stop and don’t allow the market noise to shake you out of your position.

Read 17 tweets

Boris Schlossberg

@Fxflow

Jan 23

@agurevich23

1/ @agurevich23 proving once again that Russian immigrants are some of the smartest people around :). There is so much wisdom in this interview with @kevinmuir that it deserves a couple of threads. So let me start with point number one : cost of carry.

2/ When traders consider a play they often overlook the cost of carry embedded in the transaction.

3/ If your position is negative carry (meaning that you need to put up capital every day to maintain the trade) - that cost can often offset and sometimes totally negate whatever directional profits you are able to realize.

Read 10 tweets

Boris Schlossberg

@Fxflow

Jan 22

1/ My Weekly Trading Column

Who are You?

There is nothing more annoying, uncomfortable and unproductive than doing something you don’t enjoy over and over and over again.

2/ In our Anglo Saxon and Confucian worlds we are indoctrinated from birth to accept the fact that all progress comes through pain and discipline but that’s not really true.

3/ Einstein and Richard Feynman achieved their breakthroughs because they loved solving the mysteries of physics. Van Gogh, miserable as he was in personal life, couldn't imagine a day without painting.

Read 21 tweets

Boris Schlossberg

@Fxflow

Jul 17, 2021

1/ Love is Conditional and So is Your Profit

Everything in life is conditional. Even love. If you don’t believe me, just ask a divorced person and you will quickly realize that love like everything else depends on context.

2/ Don’t marry your position is an expression used often in trading and it carries more truth than you know as it points to the fact that the relationships we develop with our trades can sometimes be more binding than our relationships with people.

3/ Understanding the conditionality paradigm does not make you a cold heartless human being, it just makes you a better trader. I am in no way arguing that you should treat people around you in a purely calculating, transactional manner.

Read 19 tweets

Boris Schlossberg

@Fxflow

Jul 15, 2021

1/ Why am I going back to covering my face indoors despite the fact that I am fully vaxxed?

The delta variant is starting to really wreak havoc almost everywhere and is sure to get worse.

2/ Yea yea I know the chance of dying from COVID is basically 1%, so even if you get it you have a 99% chance of surviving it. This is a gross oversimplification and the odds are actually a bit worse, but I’ll give you this argument.

3/ I’ll also ignore long COVID which affects about 10-15% of the infected population and is a fate you wouldn’t want to wish on your worst enemy.

So let’s assume we have a 99% chance of survival even if infected. No biggie right?

Read 8 tweets

Boris Schlossberg

@Fxflow

May 1, 2021

1/ This month Welles Wilder, a titan of technical analysis, passed away. He was the inventor of RSI, Parabolic SAR and Average Directional Index.

2/ There is no trader alive that has ever pulled up a chart and threw a few indicators on it that has not used Mr. Wilder’s inventions at one time in their life.
bit.ly/wilderrip

3/ Mr. Wilder was a trained mechanical engineer and he brought the mathematical discipline of that profession to the field of price analysis and for that the trading community will forever be grateful.
bit.ly/wilderrip

Read 18 tweets

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