Some traders have achieved moderate success without understanding the probability dynamics of that success. Subsequently, they eventually join a much more populous group—the ranks of unsuccessful traders—when randomness throws a wrench in their unquestioned methods.
Before you make the mistake of becoming successful without a long-run chance of maintaining it—or you just skip right to a blown account—discover some simple ground rules and mechanics for putting a solid, probability-based foundation underneath your trading methods and systems.
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Join Kevin Cook, FX trader, market analyst on CNBC and Bloomberg, and options instructor for ONN.tv, as he describes what he learned about probability the hard way. Key topics to be reviewed include:
- Probability is one of three pillars in the System Underneath Your SystemTM
- Why you should learn to love your losses
- Mathematical expectations are Risk Software for Your BrainTM
- Position sizing keys and how to be systematic
Kevin Cook traded interbank FX on an institutional desk for 9 years before joining The Options News Network in 2008 to create engaging options education, news, and commentary. As a market analyst for PEAK6, he appears on CNBC, Bloomberg, CNN, and FOX Business to provide insight on equities, options, currencies, and commodities. His daily column at ONN.tv “Buy and Trade” focuses primarily on how to use options volatility and probability to increase returns.
This website is for educational purposes only. Futures, options, and spot currency trading have large potential risk and traders should be well-educated before putting real money at risk. You must be aware of the risks and willing to accept them in order to invest in all markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to buy/sell a futures contract or currency.
