Trading the plan

摘要

A conversation with a trader should not go like this: "Hey, went short the EUR and made 50 tics." "That's great, what prompted the short?" "Just liked it...." At this point in the conversation, you should leave the room, remove any money under management you have with this person, and run like crazy for the front door. To paraphrase Talem, this trader is "fooled by randomness." If a trader cannot tell you why he made the trade he did, for whatever reason, then sooner or later his position will be blown up and his guts will be hanging off the wall.