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Simon Ree, brilliant interview


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#1 Chilidawgz

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Posted 19 April 2023 - 01:04 PM


Anything can happen...what's happening now?
No one can forecast the future. No one.
 
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
 
 

#2 pdx5

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    I want return OF my money more than return ON my money

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Posted 19 April 2023 - 02:57 PM

Can you summarize for us with short attention spans and short on time? TIA.


"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#3 EntropyModel

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Posted 19 April 2023 - 05:33 PM

Thx for the link  Chilidawgz.

 

PDX - I listened to most of it ...hard to give short summary but its very similar to my approach ..unfortunately  it took me 20 years to figure it out LOL

This is really about shorter term trading not investing..the longest tiemframe u cd apply this swing to Intermediate ( day trades, hourly swing, daily to weekly trends)

 

Basically -  

  - fade extremes

 - determine extreme's using technical indicators  ( he uses mean reversion, I use mean and extreme reversion but very similar approach) - he's option trader - uses VIX, Put/call ..usual stuff.

 - Manage risk above chasing return - I really liked his line that 'I need 3-4 reasons to get into a trade but only 1 to get out' - that is very good! but when trading was more expensive this

was an issue but as he points out trading now is CHEAP...so better to exit and be in cash than sit in trades if any doubts as can re-enter 

- don't care about direction i.e. don't be  bull or bear ( point ive made - most  'traders' are very tribal on direction, which tends you to bias)

 - don't try to call the turn - just jump on the trend once established ... kind of 101 ..yet very few have the discipline to wait for that optimal point ( something i've talked about extensively, tend to overtrade at the wrong points, and under trade 

at right points due to overtrading the wrong points and getting gun shy!).

 - if no trend .(Range) or bear market...play both directions (as now) - he sees current market as range ..avoided the bull/bear debate 

 

There were bits I skipped because not of interest to me ... talked a bit about mental approach...but not much .I personally think this is 90% of the skill in long run if your  not just 'dabbling' but trading for living..he mentioned key point i've said as well 'hard part is accepting being wrong 30-40% of time' this is the harder part over the long run, also that it takes 1000's of trades to learnt to trust 'tape read' ( called it intuition - but really 'intution' here is tape read by experience ) 

 

If I missed key point, or misinterpreted i'm sure others will correct this.


Edited by EntropyModel, 19 April 2023 - 05:38 PM.

Question everything, especially what you believe you know. The foundation of science is questioning the data, not trusting the data. I only trust fully falsified, non vested interest 'data', which is extremely rare in our world of paid framing narratives 'psy ops'. Market Comments https://markdavidson.substack.com/?utm_source=substack&utm_medium=email https://www.youtube.com/playlist?list=PLznkbTx_dpw_-Y9bBN3QR-tiNSsFsSojB

#4 pdx5

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Posted 20 April 2023 - 02:14 PM

Thank you tons for taking time to summarize. My trading method will never make me a Billionaire, but it has kept me solvent enough to live a stress free life. I never had time for trading when working full time and consulting work on the side. When I retired at age 57, I had young kids age 4 & 6 and was busy playing golf 5 rounds of 18 on week days every week. So I simplified my trading to go long when markets were down 20% from recent highs. And then play more golf, until there is 25%+ gain to begin selling all holdings. That sort of jives with not getting greedy and avoiding extremes. Not the best method to become a Billionaire, but it has worked for me for 25 years since retiring.


Edited by pdx5, 20 April 2023 - 02:14 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#5 EntropyModel

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Posted 21 April 2023 - 12:32 PM

Thank you tons for taking time to summarize. My trading method will never make me a Billionaire, but it has kept me solvent enough to live a stress free life. I never had time for trading when working full time and consulting work on the side. When I retired at age 57, I had young kids age 4 & 6 and was busy playing golf 5 rounds of 18 on week days every week. So I simplified my trading to go long when markets were down 20% from recent highs. And then play more golf, until there is 25%+ gain to begin selling all holdings. That sort of jives with not getting greedy and avoiding extremes. Not the best method to become a Billionaire, but it has worked for me for 25 years since retiring.

 

Thx and glad it was helpful - and your strategy seems very sound especially on investor timeframe.


Question everything, especially what you believe you know. The foundation of science is questioning the data, not trusting the data. I only trust fully falsified, non vested interest 'data', which is extremely rare in our world of paid framing narratives 'psy ops'. Market Comments https://markdavidson.substack.com/?utm_source=substack&utm_medium=email https://www.youtube.com/playlist?list=PLznkbTx_dpw_-Y9bBN3QR-tiNSsFsSojB