✨✨A trader survived 20 years on the Chicago trading floor by not asking why something is happening in the market.
People on square are often ask an advice of “professional”. I won’t touch a topic of how to assess if person is professional based on what they post on Square (hint: impossible) 😂
Instead I’m bringing to you a bit of wisdom from professional trader. Enjoy reading a piece of interview transcript below:
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It’s interesting when you hear people say, “What’s going on?” when they can actually see what’s going on. There’s a weird psychological thing where they want it to be explained—why it’s happening—but they’re already seeing what’s happening.
You can see in front of you what’s happening, but if I tell you why it’s happening, how is that going to change what’s happening? And that’s kind of a shortcoming for a lot of traders. They ask what I consider to be the weakest question in the hierarchy of questions for investors, which is “Why?”
You’re sitting there wondering why something’s happening, and while you’re wondering why, it’s still happening. So you have to react.
- “Are you a ‘what’ person?”
- “I’m a ‘what’ person, yes. ‘Why’ comes later. ‘Why’ is a hobby. ‘Why’ is fun for me. But ‘what’ is what I do for a living.”
- “A trader survived 20 years on the Chicago trading floor by not asking why something is happening in the market.”
