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Old 09-25-2016, 01:16 PM   #1

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Trader Psychometrics

Has anyone heard of this book/ author? http://davidjamesnorman.com/
Just curious about it. Ive read some good things about it. But this book isnt available anymore on amazon so I am wondering why its out of stock/ print..
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Old 09-26-2016, 10:28 AM   #2

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The efficacy of studying cheetahs to understand the puma ??

Experts” substitute systems for consciousness.
Systems are templates, tools, reference points, even cosmological structures and stories. They’re not consciousness.
Most people prefer systems. They’re comfortable.

why this book didn't go anywhere / didn't sell
1) likely this work is really about his own unique cognitive processes and biases - not transferrable or generalizable ... and ...

2) if that blurb at Trader Psychometrics: The New Science of Trading. Author David James Norman is correct and his theory and measures only focus on "cognitive processes and biases"
then he is less than scraping the surface

3) bcse only 'scanning savants' have any chance of actual millisecond level high frequency trading, his work is less than a minor "step forward in forming a detailed understanding of realtime trader behaviour"
( btw if real high frequency trading is not what he was talking about / studying then he should have said so!
In my own case, I'm getting old but on a good day I can still roll for 3 - 5+ hours at minutes (and some subminute) holding periods. That is faster than most but that is NOT high frequency trading!!! I know several successful very short holding period traders but I have never met a manual trader who truly attempted" electronic high-frequency trading " who didn't change back to a slightly longer holding periods /or go out of business ).
... ie only an 'autistic' could successfully sustain real high frequency trading more than ~30 minutes a day... ie he was not studying a sample of traders whose 'psychometric' processes and biases could ever be transferable / applicable to 'normals'

...his intentions were admirable, but ...
he studied the wrong things
(ie he did not get anywhere close to " inherent in the critical point activity skills of all human beings". ) and ...
most likely he realized that... and ...
pulled the book


1 in 1000 will get this and also like it --- but let's go all zdo on it for a minute anyways.
Since the 'book' is not available and wouldn't help you if it was -
> become a sample of one and find your own way.

Across time the traders I've known who got close to the necessary "critical point activity skills of all human beings" persisted in trading their own best holding period but also found and worked a (usually physical) analogue bhvr that revealed and honed "critical point activity skills". Best example I can think of right now: one trading buddy of mine didn't change a thing in his methodology/'systems' (and he categorically wasn't the type and didn't read any dam new trading books ) but he went from 'good but struggling' / surviving to great during the first two years he studied Kenjutsu / kendo.

"find your own way." zdo
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