andyswan - Latest Comments in On your mark, GO, get set

Re: On your mark, GO, get set

WayneS — Wed, 10 Jun 2009 13:02:24 -0000

Well said.

I've learned to hate or love each of your tweets. (Nothing neutral). Thanks

Re: On your mark, GO, get set

Keith Shepard — Wed, 10 Jun 2009 10:58:55 -0000

Good post. I disagree with your comment here:

Flip a coin to determine your directional bias on a trade.

Simply pulling up a yearly chart of any symbol and looking left to right will tell you what you need to know about directionality (without knowing any charting alchemy that you so loath) and it takes about 5-10 seconds.

They have charts on StockTwits.com. People should use them. Maybe they would make money.

Re: On your mark, GO, get set

crazygirl — Wed, 10 Jun 2009 10:50:23 -0000

This was awesome, thanks!

Re: On your mark, GO, get set

andyswan — Wed, 10 Jun 2009 09:56:06 -0000

I would decide not to lever up if I disagreed with the directional bias of the coin flip.

Yes, will get into trade management soon. Assuming this blog energy lasts :)

Re: On your mark, GO, get set

John Gant — Wed, 10 Jun 2009 09:47:38 -0000

I disagree with you on one point. You ask that one flips a coin and determines their bias, which could be against their gut. After that you suggest:

"Should you really lever up on this one?"

How can I decide to lever up if its against my gut? Maybe not levering up is the best bet for the coin flip scenario, otherwise the coin flip then requires another coin flip to determine whether to use leverage. I like @nickfenton's idea of going with your gut, whether right or wrong, and then reacting if it goes bad. Going with your gut allows you to immediately determine if the situation has enough incentive to lever up. Also, I'd like to see you expand more on the following (maybe they can get a post of their own?):

"How are you going to manage it if it goes with you? Against you? When will you double down—if you’re right or if you’re wrong?"