The hour between dog and wolf - Trading Discussion - donkeytime.org Forex Trading ForumIt has been said of war that it consists of long stretches of boredom punctuated by brief periods of terror, and much the same can be said of trading. There are long stretches of time when little more than a trickle of business flows in through the sales desks, perhaps just enough to keep the restless traders occupied and to pay the bills. With no news of any importance coming across the wire, the market slows, the inertia feeding on itself until price movement grinds to a halt. Then, people on a trading floor disappear into their private lives: salespeople chat aimlessly with clients who have become friends, traders use the lull to pay bills, plan their next ski trip, or talk to headhunters, curious to know their value on the open market. Two traders, Logan, who trades mortgage-backed bonds, and Scott, who works down the aisle on the arbitrage desk, toss a tennis ball back and forth, taking care not to hit any salespeople. But just before noon there comes the merest breath of change, rippling the surface of prices. Most people on the floor do not consciously notice it, but the slight tremor registers none the less.
The Hour Between Dog and Wolf Book Review
The Hour Between Dog and Wolf: Risk Taking, Gut Feelings and the Biology of Boom and Bust
But, sometimes a tv program, or a magazine article, will pleasantly surprise me, with facts or insights that I think are worth mentioning. Every so often we read of a star trader who lost so much money that he gave back all the profits he made over several years and shook his bank to its foundations. How does this happen? But recent research suggests an alternative explanation—that the winning streak changed the trader. Human biology can help explain what drives traders to acts of folly. Body and brain fuse as a single functioning unit. Consider what happens on the trading floor when news flashes across the wire.
With an OverDrive account, you can save your favorite libraries for at-a-glance information about availability. Find out more about OverDrive accounts. How risk taking transforms our body chemistry, driving us to extremes of euphoria and risky behavior—or stress and depression. In this eye-opening book, Coates—a former Wall Street trader and now a world-class neuroscientist—describes the role our biology plays in our risk-taking behavior. Coates brings his research to life by telling a story of fictional traders who get caught up in a bubble and then a crash. As these traders place their bets and live with the results, Coates looks inside their bodies to describe the physiology driving them into irrational exuberance and then pessimism. The result is a riveting tale and a penetrating insight into how traders'—and indeed all humans'—bodies guide their risk taking, endowing them with fast reactions and gut feelings; but how their biology can also lead them to extremes of euphoria or anxiety and stress, thereby wreaking havoc on the economy.
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