How to Fail As a Trader in 10 Easy Steps

via Trader’s Narrative comes this look at surefire ays to lose money as a trader:


How to Fail As a Trader in 10 Easy Steps

There is so much ink and pixels spilled on how to succeed in trading. So I thought, being a contrarian, I would zag instead of zig and outline how to fail as a trader. Without further ado, the 10 vital steps you must take in order to fail in trading:

1. Start out undercapitalized
2. Ignore risk management
3. Compare yourself to other traders, not yourself
4. Look for the right system
5. Don’t keep a journal
6. Be secretive
7. Be casual
8. Fill your charts with as many indicators as possible
9. Trade with your emotions
10. Be inconsistent

All the details for each bullet point are over at the Trader’s Narrative site.

Great stuff!

Category: Apprenticed Investor, Psychology, Trading

Mother’s Day Weekend Linkfest! (Part I)

Category: Weblogs

WSJ Market Data

Category: Financial Press, Markets, Web/Tech

Friday Night Jazz: Gerry Mulligan

Paraiso_2About 10 years ago, while window shopping in Sag Harbor (the least offensive of the Hamptons), I hear this fabulous music wafting out the door of a small shop.

Turns out it was Gerry Mulligan‘s CD, Paraiso-Jazz Brazil. An eye opener. Clean, cool recording of lovely Latin melodies, all the while overlaid with this dry, reedy saxophone that infused the music with a flavorful sophistication.

Mulligan_chetbakerThat was Gerry Mulligan’s sound.  NPR radio observed that Mulligan was "the most influential baritone saxophonist in jazz." But Mulligan was more than that — he was a
commanding composer, an innovative musician, someone who pushed boundaries, yet remained accessible and enjoyable to listen to.

His history of playing with other key Jazz greats is rather astounding: He worked with Miles Davis‘ on the historic Birth of the Cool. He created a piano-less ensemble, with trumpeter Chet Baker.

Meets_monkHe cut albums with Thelonius Monk, Paul Desmond, Dave Brubeck, Stan Getz, Lionel Hampton, Ben Webster, Johnny Hodges, Judy Hollidaythe list of sidemen goes on and on.

Mulligan’s light and airy baritone saxophone was the epitome of the the "cool" jazz sound. Yet its amazing how easily he could interact with many other musical styles: Ben Webster’s blustery tenor (the epitome of a "warm" sound); Monk’s percussive, fractured piano rhythms and dissonant tunes; the sweet, subtle tension between Mulligan and Chet Baker.

M_plays_mYou can pretty much grab any random Mulligan album (I put up a decent selection here) and not be disappointed. You will see scattered around a broad selection of different styles, eras, and musical cohorts.

Are you a Brubeck fan? Monk? Chet Baker? Webster? Desmond? Grab anything, sit back and enjoy.

~~~

Mulligan became known for his writing and arranging skills in his teens. He wrote for Johnny Warrington’s radio band in 1944, and for Gene Krupa’s band two years later.

BerlinMulligan hit the big time when he became known for his work (writing, arranging, and soloing) on Miles Davis’ defining album, "Birth of the Cool." Gerry’s compositions for this album included "Jeru," "Godchild," and "Venus de Milo," all songs that would remain in his repertoire long after the initial success of the album had died down. (This album launched and aided several careers of important jazz figures).

Mulligan’s last record came out as one of his most beautiful. Lovely tunes, clever arrangements, and understated fabulous players mark his last recording (John Scofield and
Grover Washington, Jr. play on this).

DragonflySimply timeless music.

Mulligan Discography (massive PDF)

NYT Mulligan Obit

Mulligan Videos after the jump

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Category: Digital Media, Friday Night Jazz, Music

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Category: Commodities, Markets, Real Estate

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Category: Dividends, Investing, Markets

Commerce Retail Sales Data: Beware Gas Inflation

Category: Consumer Spending, Data Analysis, Economy, Energy, Retail

Why Are Stocks Falling?

Yesterday morning, Doug Kass gives us his short list of why stocks ought to take a stumble:

1. The price of gasoline rises to a new high, serving as the functional equivalent of a tax increase for the U.S. consumer.

2. Tech bellwether Cisco’s (CSCO) U.S. business enterprise is weak, and guidance for aggregate sequential revenue growth (of +4%) is disappointing.

3. Other tech companies like Novellus (NVLS) , Nokia (NOK) , SanDisk (SNDK) , Flextronics (FLEX) and Sanmina (SANM) disappointed. The much-heralded release of Vista has failed to meet expectations (and has led to a buildup in PC component parts). DRAM prices fall by nearly 70% to below cash production costs. Electronic Arts (ERTS) , Best Buy (BBY) and Circuit City (CC) guided lower, raising questions about the health of consumer electronics.

4. Multinationals offset end-market weakness in the U.S. by the effect of a weak U.S. dollar. More astonishingly, investors consider the foreign exchange gains as recurring.

5. The multiplier effect of the housing downturn hits many building materials companies like Mohawk Industries (MHK) , Home Depot (HD) and Graco (GGG) whiff, but rumors of private-equity deals bail investors out.

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Category: Economy, Investing, Markets, Trading

GPS ?

Category: Web/Tech

Retail Sales = Hard Landing ?

Category: Consumer Spending, Markets, Psychology, Retail