The Importance of Strategy in Trading

I've seen this over the years and I don't know if you share the same perspective, but in speaking with so many different fund managers over the years, it sure seems like strategy is driven. Clients in and out of flow of money really keeps even some of the best traders on edge and frankly the word that I want to use is worried. And worry is really a true, I've seen worry work in the favor of a trader in terms of keeping them coolant about risk management. And I've seen and act as a break on overconfidence biases. It becomes particularly challenging when the worries of investors end up becoming the worries of trading firms and money managers.

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