Vertical Solutions

Trading Systems & Strategies

The Art of Learning, 06/09/07

I just read The Art of Learning A Journey in the Pursuit of Excellence by Josh Waitzkin.

This is great book which pushed me and pulled me: it enthusiastically pushed me onto what's next pulled me back to Enhancing Trader Performance for a second read with a new perspective.

There is a beautiful circle here: watching myself learn chess from Grandmaster Davies, applying those nuances of learning to trading system designs, teaching my son chess and watching him thrive and work harder when the challenge met his skill level (Flow) , and finally completing and beginning the circle anew with Waitzkin's The Art of Learning.

How absolutely and endlessly fascinating.

Henry Carstens
Vertical Solutions
carstens@verticalsolutions.com

THERE IS A RISK OF LOSS IN FUTURES TRADING. ADDITIONALLY, HYPOTHETICAL S&P PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY TRADING ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR EQUITY TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO FORECAST AND WITHSTAND FINANCIAL LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC AUTOMATED TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED QUANTITATIVELY FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.

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