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Daily Speculations The Web Site of Victor Niederhoffer & Laurel Kenner Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter; a forum for us to use our meager abilities to make the world of specinvestments a better place. |
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Un speculateur-prudent offers lessons from skiing
Trading is like skiing; you have to keep a balanced position, ready to react to terrain changes, which is not possible if you're already stretched one way.
In the market, if I'm too long and it goes down, I can't buy more; if I don't have enough on, I can't sell, capturing some short term volatility.