4. Situational Trading
“There are known knowns. These are the things we know that we know. There are known unknowns. That is to say, there are things that we know we don’t know. But there are unknown unknowns. These are things we don’t know we don’t know.”
—Donald Rumsfeld
When I first started learning about stock trading and reading through the literature, I was confronted by the dilemma all traders face: “What do I do now?” Like most other people, I listened to the experts on TV, read the papers, and toyed endlessly with countless indicators. My eyes went blurry looking at all the indicators on my screen. Then my problem seemed to be whether or not I was a trend trader or a contrarian. Trend trading seemed so much like herd following. Since ...
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