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One’s skill as a trader is only as good as one’s ability to generate ideas worth trading. This is an underappreciated aspect of trading performance.
Specifically, we can look at the idea velocity of a trader–the number of independent ideas generated per unit of time–as an important component of trading
In a broad sense, there are two forms of knowing:
* Predicting – Being able to anticipate future events.
* Understanding – Being able to explain events.
We can predict without understanding. We know to anticipate changes in weather without being able to explain the chain of events by which these occur.
We can understand
