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TRADERS´ Interview with Singapore Strategist
Dar Wong is Investment Strategist at Singapore based Dektos Investment Corporation and a regular financial columnist for Borneo Post and other financial magazines.
Let’s be honest: Wall Street has an embarrassing track record in forecasting what the markets will do.
According to a recent study by Money Morning, comparing the average forecast of Wall Street “experts” to the actual performance of the S&P 500 between 2000 and 2014 reveals a nearly 15 percentage point difference each year!
From the onset of time, human beings have associated certain activities with certain events, thus forming the basis of superstitious beliefs and actions.
These have also spilled into the financial markets. Here are 5 weird trading rituals commonly practiced by traders.
Markets are people. So beating them asks for insight in what they are doing. And, perhaps more importantly, how they feel, because that will direct their future actions and, in the end, what markets will do.
At least short term. To know how people feel we need to distinguish the ones with a position from the spectators on the sidelines. Both groups have a very different state of mind.
"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Arthur Schopenhauer
Back in September 2011 I released an update stating I was looking for the Dow Jones to make a new all-time high of 14200 in March 2013.
Thu, 1st Jan - * (ShareCast News) - Oil futures headed higher with Brent capping the $53-level on Thursday, as supply correction sentiment and rising tensions in the Middle East lent support to prices, while precious metals saw lacklustre trading in Europe yet again.