Afin's trading diary

Ended day at -10.2% yesterday. Did not have nay time to update the journal.
 
Productive and good day today! My father has adviced on and guided me with building an options strategy using purely index options. Complete credit to him!! The initial backtesting has been quite promising including drawdowns and max drawdown! Now for forward testing it in actual market conditions using real money.
:happy::happy::happy:

I will most likely jump into those trades early next week.
 
And therefore a quant/ mechanical based trading methods is the purest form of a money making machine. Nothing even comes close because there are no emotions involved.

https://www.ft.com/content/868d0902-f0b4-11e9-ad1e-4367d8281195

The Man Who Solved the Market — how Jim Simons built a moneymaking machine Gregory Zuckerman’s book lifts the lid on the enimgatic founder of Renaissance who launched the quant revolution
 
I too have read the book. The headline on the "inspired" RJ site is a sensationalist one & one that is designed to get some eye balls.

The book reveals no secret formula whatsoever. It's a great read though. It teaches you common sense and nothing else.

Yes he started making money on a full time basis from when he was 40 but it wasn't that he didn't make profits earlier.

I implore guys on the forum to read the book for themselves than rely on second hand sources and speculate the contents.

 
 
The world economy is headed for a recession. China won’t be there to save it this time
  • China’s economic health is important to the world not just because of its importance as a buyer and supplier, but also because of anxieties that it is less well placed to provide the massive stimulus it did after the 2008 financial crash
https://amp.scmp.com/comment/opinio...ed-recession-china-wont-be-there-save-it-time
 
The slowdown seems to be in place. Visited a friend who runs a hardware and power tools business. Sales are down and collections are also down. He sells on credit some of the big Bosch machines as is the norm in his line of work. Other factors too he says. There also seems to be a general liquidity crunch in the market.
 
For those who wish to dig in and read more -- here is a a great suggestion. It is by the Nobel Prize Winning Economist Daniel Kahneman. It is a brilliant read for those who would want to ward of the curse of following the herd. Each chapter is a masterpiece in itself and I highly recommend it.

https://www.amazon.in/Thinking-fast-slow-Daniel-Kahneman/dp/1846146062



Following is a great description of the book - again by a future Nobel Laureate who would go on to win it later :)

https://www.newyorker.com/books/pag...s-who-changed-how-we-think-about-how-we-think
 
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