Tackle Today: #9 Dream
October 31, 2018
≈ Was it in a dream, was it just a dream? ≈
If you watch Mr. Musk’s interview to Joe Rogan, carefully, and obviously skipping all the nonsense that emerged from the pot part, you’re going to see that he is just a hardcore engineer with lots of ideas. The difference is that his ideas are disruptive, very uncommon and unpredictable. You can’t expect disruptive people to behave normally.
It’s when they start to talk about artificial intelligence that things become interesting. And creepy.
(E.M.) “I will not be able to hold the candle to AI.”
(J.R.) “[…] This is a genie that once it’s out of the bottle you’re never getting it back in.”
(E.M.) “That’s true.”
Joe then refers to Elon’s tweet about the Boston Dynamics robots. “In a few years that bot will move so fast you’ll need a strobe light to see it.”
I can’t think of something else but the financial markets. Trading robots have been around for quite a time but AI is taking over the landscape at an alarming rate. Last year, the firm EquBot launched the first retail ETF to be managed using IBM’s Watson supercomputing AI technology.
In a landscape like this, what we, mere mortal retail traders, can do?
We must have rules. Risk/reward, position sizing, and target rules become even more paramount. Cycles of boom and bust can go on forever when measured in human time, but trading robots with AI capabilities can move so fast we will need a strobe light to see them trading.
~Seemed so very real, it seemed so real to me.~
Chart of the Day
SPY, 2018
SPY has been all over the place for almost the entire year. From February ’til today, lots of gaps and corrections. A horrible, choppy and noisy chart for the untrained and unaware trader. Rules are the antidote for this chaos.
Video of the Day
Joe Rogan – Elon Musk on Artificial Intelligence
Taken from Joe Rogan Experience #1169
Today’s Lineup
WOMEN IN TRADING
Oops Did I Do That!
I grew up an eighties kids and in a household of six with only one TV to share, fighting over what to watch was a constant battle in our house. As kids were battling for MTV and my dad would veto that for CNN every time. Sometimes my mom would do us a solid get dad to allow us to watch want we wanted but every five minutes he’d yell out “my goodness, what is this nonsense” for nothing we ever watched or listened to ever made sense.
Coaches Lounge 11am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
The Coaches Show Replay
If you missed last night’s episode where Coach Noah and Coach Emily talked about Bearish Retracement Patterns or would like to watch it again, check it out here.
Halftime Report 12:30pm EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
Market Recap 4:30pm EST
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
Episode 293: Entering the Hall of Fame with Beth Salamanca
Beth Salamanca, one of the latest Legacy Hall of Fame inductees, joins us this week for episode 293 of the Trading Justice podcast. Beth shares her formula for success in this very insightful podcast.
