What Is The Speculator’s Journal?

How much would you pay to play a game where if you flip a coin you get a dollar but if it comes up tails you will lose a dollar and you know that heads will come up 55% of the time?

I was asked that question during a job interview for a trading position at an option market-making firm. The question asks about expected value. You need to determine the expected value of the game and then assess the risk and reward of your bet. — I got the job.

In the years that followed my brief career as an options market maker, I became more involved in the trading of stocks. I’ve had multiple +100% years in a row with a high of 302%.

To acheive those types of returns required preparation and attention to my decision making process.

Preparation for the Day.

It is not our job to predict what will happen. Rather, we must prepare ourselves to react. The objective of the Speculator’s Journal is to outline various scenarios that we could see during that day.

The Speculator’s Journal began as my personal journal to prepare myself for the trading day. I began sharing my thoughts on Twitter and received positive feedback from thousands of traders that found value in these morning notes. The blog format allows me to share my thoughts in more detail.

I’d be honored if you join us

Cheers,

“Not Investment Advice Disclaimer”

The content covered in this blog is NOT to be considered as investment advice. I'm NOT a financial adviser. These are only my own personal and speculative opinions, ideas, theories, hypotheses, charts, technical analysis (TA), insights, curated news publications, and price prediction(s)