Developing the mental game (at least for me) was easily the most challenging aspect of trend following - controlling the emotional highs and lows. Got much easier to stay in my lane after alternating blows of hubris and despondency and after having navigated through a couple of cycles. If my automated systems running in a Tier IV datacenter stop responding for more than 10 seconds, "overwatch" calls my waterproof cellular smartwatch. Gives much peace of mind to go about all of the other things. You are an inspiration, Tom.
Great article as always . I would appreciate it if from your experience you would share how you deal with those “unexpected events”. Specifically what do you you do if your online connection with the brokerage is cut, and there is no way to execute orders. Maybe the internet is down, or the brokerage system is down.
There’s something exciting about developing and systematic process and executing it. Great post.
Great content! ty!
Nice article
Developing the mental game (at least for me) was easily the most challenging aspect of trend following - controlling the emotional highs and lows. Got much easier to stay in my lane after alternating blows of hubris and despondency and after having navigated through a couple of cycles. If my automated systems running in a Tier IV datacenter stop responding for more than 10 seconds, "overwatch" calls my waterproof cellular smartwatch. Gives much peace of mind to go about all of the other things. You are an inspiration, Tom.
Number 5 TOM! Mistakes waste time and energy and drain emotional capital.
Thanks for sharing this. Emotions will really thwart a new trader. Hence I preach the old adage "Plan your trade, and trade your plan".
Time is money, you have to take advantage of it...
Great Tom, I recently wrote an article about the eternal battle.
https://onlyquants.substack.com/p/algorithmic-trading-vs-discretionary
Great article as always . I would appreciate it if from your experience you would share how you deal with those “unexpected events”. Specifically what do you you do if your online connection with the brokerage is cut, and there is no way to execute orders. Maybe the internet is down, or the brokerage system is down.
Thanks.