Actuary.Net Actuarial News Site AnnouncedWritten by Claude Penland, ACAS, MAAA
Actuary.NET is proud to announce creation of industry’s first global actuarial news source at www.actuary.net . Designed in a daily blog format, it includes public press releases about actuaries who have switched employers or been promoted.It also provides daily actuarial professional news -- these include actuarial exam changes, long-range actuarial society plans and many others. Additionally, there are employment-related discussions and a variety of references to actuaries found throughout web.
| | Accountability In TradingWritten by Harvey Walsh
I recently heard from a trader who told me he has been having problems with discipline in his day trading. He knows how to trade, he knows setups he needs to be looking for in charts, when to enter, and when to exit. His trouble is in having discipline to wait for only those setups and not to take half baked trades in meantime. This is a very common problem for traders, I imagine everyone goes through it at some stage in their career. In working with student traders over years, I have noticed a phenomenon that I think explains one of reasons for this lack of discipline. When I watch student traders trade, they tend to sit very patiently and explain to me what they are seeing on chart in front of them. When they see a valid setup come along, they can quite happily tell me what setup is and how they plan to trade it, and subsequently they will execute trade accordingly. When same student is trading alone, they start taking all sorts of off-plan trades, setups that aren’t really setups at all. It seems that difference when trading alone, is that trader suddenly has no accountability. If they have someone looking over their shoulder keeping them in check, everything is fine. They know that if they take an off-plan trade then they will have to explain to me why they did so when it all goes horribly wrong. Trading at home alone, trader is accountable only to themself, and they are probably not going to give themself same hard time I would if they didn’t follow their trading plan to letter! So it seems that one of benefits of trading for a living, that independence from boss, can actually be a hindrance at times. Short of hiring a manager
|