Extract from Market Wizards (interview with Tom Baldwin):
Jack: “How did you figure it out?”
Tom: “It’s like any other job. If you stand there for six months, you have to pick it up.” (referring to the pits)
Jack: “How do you make your decisions?”
Tom: “You see the orders and you just trade it.”
Jack: “How is size an advantage?”
Tom: “You’ve obviously never traded on the floor.”
Would you say that there is a common denominator with legendary traders?
The underlying reasoning may differ (techs, fundies, etc...) but the 'core' beneath is identical to one another (other than risk management).
Jack: “How did you figure it out?”
Tom: “It’s like any other job. If you stand there for six months, you have to pick it up.” (referring to the pits)
Jack: “How do you make your decisions?”
Tom: “You see the orders and you just trade it.”
Jack: “How is size an advantage?”
Tom: “You’ve obviously never traded on the floor.”
Would you say that there is a common denominator with legendary traders?
The underlying reasoning may differ (techs, fundies, etc...) but the 'core' beneath is identical to one another (other than risk management).