More Market Commentaries

5th June 2014 After the excitement(!) of the build up to today’s ECB meeting we have had a remarkably muted response to the raft of measures that were announced. To be fair, the market is still coming to terms with the announcements and it will likely take a number of days for the full implications... Continue Reading →

Unstoppable

Going back to a previous post about how the US stock markets is destroying technicals and little trust can be applied to prior valuations methods (see Trust Noone), it is clear that the current Bull market might be here to stay. Even large, systemic events like the US Government shutdown or even a S&P Ratings downgrade... Continue Reading →

Survivor

In trading, the importance of understanding one's cognitive biases is invaluable. Without a objective and personal realisation of what influences our decisions, it is difficult to make money and sustain making money in the long term. Not only is it important to recognise what biases most affect us but it also important to differentiate them... Continue Reading →

Market Commentaries

And more... 22nd May 2014 A very frustrating day. On the one hand it feels that the tide may finally be starting to turn in favour of a rate hike this year while on the other, the European and US data while strong are hardly blowing the doors off and bunds remain resolutely well bid.... Continue Reading →

And more market commentaries…

16th June 2014 Consolidation session in the UK with little or no news hitting the sterling market. Some overnight comments by BoE’s Bean highlighting the known fact that ‘higher rates are a welcomed sign that the UK economy is returning to normal’ only continued to show the shift in opinion within the MPC. The belly of the... Continue Reading →

Blue Ocean

Trading can sometimes look like a simple way to make money and it might easily confuse newcomers into believing that 'the only way is up'. But more often than not, we end up being the ones without any money left and drowned into commissions and capital calls. This, combined with the idea that frequent trading... Continue Reading →

More Market Commentaries

Another throwback to the trading days... 23rd Jan 2014 Inexplicable correction to yesterday’s sell off with the market again finding this wall of money that has kept supporting gilts in the last 10 days. We rallied hard in 10 years, back above the level pre-employment data and up to early dec highs. The move in... Continue Reading →

Trust Noone

With stock markets around all-time highs and traders looking at an incoming bear market, it is always good to remember that the big trades, the real money-making ones are those that are very difficult to see coming because the moves are so far off the normals.   (see @morganhousel) When technicals, analysts and quants all... Continue Reading →

Performance Formulas

Performance on the job is crucial, in particular for high-pressure jobs when the tiniest drop in concentration can lead to huge losses or mistakes. Whilst trading derivatives at Santander, it was imperative to always be full-time focused on the market, in particular when performing a large trade: one had to simultaneously model and give updated... Continue Reading →

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