Thursday, February 19, 2009

Placing your bets

A quick poker/trading analogy.  For those poker players out there...a good, or even average, poker player does not go "all in" on every hand.  The good poker player waits for the odds to be in his favor and then pushes his chips in.  As short term traders at Trading RM, we have been experiencing selective trades that are great in 2009.  But much of the day we would be better off "folding."  I am continually fighting between what I want to happen and what is happening.  I am working on putting my chips in the market only when I believe I have good odds...however frequent or infrequent that may be today.