Chris Cathey & Anton Kreil Discuss Emotional Detachment in Trading
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- เผยแพร่เมื่อ 13 ก.ย. 2024
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Clip from "TRADING LEGENDS - Anton Kreil's Interview with Chris Cathey" - • TRADING LEGENDS - Anto...
I really appreciate the views expressed by you and your colleagues on this topic. I would love to see more content on dealing with risk and emotion. Thank you
Great content! Agree 100%.
400 million down at lunch table.... "does this bread taste like sandals to you?"
400mil of total exposure. Not loss.
Lmao 😅
@@sarmand777 lolll 48 months in the feds 😂🤣for losing 50,000 people’s pension.
Thank you for peeling back the curtain to this topic. Best wishes to you in 2021.
Fuck I love this channel
lunch wasnt too good that day hahah good one
had me cracking up too
While I have massive respect for these legendary traders, wouldn’t GS have a daily VaR for that trading desk of say 100mil or so and that would force them to liquidate when it’s triggered? Which is like being stopped out? seems like letting those short positions ride was a massive gamble unless it’s EOD VaR not intraday .. which contradicts their managing risks with stops advice...and isn’t that how you end up with a “London whale” situation? so They became long US stocks intraday to offset their shorts but that added even more risk at one point .. I’m just trying to understand this from all angles...
If I understand the move correctly, the stock they shorted squeezed (i.e. other short sellers frantically seeking to cover their trades) and it gapped up, hence by-passing the stop-loss. Rather than covering to a loss like most other traders they stuck to their original strategy and decided to hedge their massive loss by longing on the Eurostoxx. Instead of falling down the tree (= panic) they carried on and looked out for a vine to jump to. I know, easier told than done...
Thanks for the video.
I have traded a demo account and I need a real account to check my psychology.
I need to funds
I get 10 percent of what this dude says
Have a SL level and PT levels
God help you.
set stop losses as i heard.. but later in the conversation you talked about not knowing what to do when bulls were squeezing your shorts, was it because you didn't set stops?
Mental stops
Buying stocks meant that they stopped their losses even if mkt continues higher .
Totally agree. Every emotion trade has gone bad.
Anyone else catch the priceless info? And is there anyone thinking these guys are doing something I just Cant?
What is a back book and a front book?
I have been a rabbit in a headlight in my trading, i'm glad i learned this way of risk management......DO SOMETHING!!!!
hm great!
Does having shit your pants by lunch time count as being emotional?
1:19 - how do you know when to sell then?
That is a relative situation to each stock based on the technicals. Selling at any time is never bad if your P/L is green, he emphasized the stop loss greatly, however.
Professionals have a target prior to entering the trade. So they know
Both of these answers are incorrect. What he's saying is, don't tell yourself "i'll get out at 20% profits" for example. How do you know this position will gain 20% in profit?? You don't. So you take profit as you see the opportunity to do so. "you can't lose money taking a profit" is the dumbest advice in trading. If your profit, is 1-2% then it only takes 1 significant loss to wipe out dozens of small winners. "Professionals have a get out target" that's true, but they may or may not get there, the market will decide. We are only there to take what is given to us. We can't demand more from the market, and we get out if we are given less.
Play big, peel some off as the market gives you money and always keep runners, for no one knows when the momentum stops. You want to capture as much as you can.
'We have to do something...to stay in the game!' Implication--we have a job to do
Yeah if I was trading other people’s money I wouldn’t be full of emotions either 🤷♂️
Well them trading other peoples money is basically theirs, the more profits they make the grater their bonus
That works for politicians, not traders. If you lose an actual company money, you're more often than not finished.
You're trading the money of some of the most powerful people in the world. I don't think you will be doing too good for yourself if you lose all their money.
You guys clearly don't understand what Investment Banks or the Hedge Funds did pre-2014.
And I'm worried about my little trading account. 400 million?! Jesus wept. 😂