A Book From an MIT Whiz Kid
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It's May 8th, 2022 and the market has officially left "easy-mode" and entered into a straight grind down. Gone are the days of just buying $NIO at the end of the day because it closed up at least 1 ATR on elevated rvol and you'll wake up with it a couple points higher, just cause!
Now, we are seeing the high flyers that are up in the air getting hit on earnings and selling off aggressively. The r*tarded trade that Tim and I are taking in our joint account is shorting earnings day 1 under premarket lows and it's working! We aren't crushing it, but it's working. We are covering everything at 1:1, often reshorting into vwap vs high of day and taking them overnight. Additionally, we are pressing names under earnings day 1 on day 2 and that’s also working. We are making money while others are suffering and it feels great. (next time, we'll just hold short;)
Looking back, us being profitable in 2022 was a win in and of itself. I'll take it. It's something I am incredibly proud with.
Anyways, it's Sunday May 8th 2022 at 3:53pm eastern and I decide to take this picture.
I took this awful picture on a Gloomy Sunday on Pier 62 after working out at the world's nicest gym, Chelsea Piers (which is somehow cheaper than Equinox) following the Kinobody Greek God program and felt the need to purchase some overpriced toilet-tasting iced coffee from Bluestone Lane that is just next door...
Anyways, I bought The House Advantage by Jeffrey Ma from BOOKOFF on W 45th St in New York earlier that day for a few bucks and I am in awe by the greatness of this read.
Jeffrey Ma was a member of the MIT Blackjack team who card counted his way to riches in Vegas and Atlantic City. Ma reveals how they used data analytics to guide decision-making as opposed to pure "intuition" which so many blackjack and traders try to rely on.
Additionally, Ma discusses how to manage risk effectively while leveraging probabilities and statistics to really go for it when the ball is in your court! Sound familiar? This is Lance 101!
Furthermore, Ma discusses the importance of being adaptable and responsive to changes which ties in well to just how quickly things flip in the market. Without proper identification, it’s incredibly easy to become flat-footed, give back your entire month and then some, and hate life!
All in all, this is a book review after all. One of my all time favorite "non-trading but totally trading related reads" that everyone should get their hands on. It's enjoyable and informative!
If you'd like to pick it up, please use my Amazon affiliate link to help support the page. Books are an investment that you'll never regret!
pick up the house advantage today! crick me!