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by bob_theslob646 3112 days ago
This comment is the exact reason why I cringe when anyone mentions anything related to trading.

Notice, he/she did not link anything related to how the future contract works?

How can you trade something you do not understand?

I would be fired the first day if I couldn't explain to my boss how the instrument/contract was constructed.

How do you think quants model? First they understand how the contract works

If they mess the basics up, then "Houston , we have a problem."

2 comments

It's "resources needed for today's Bitcoin Futures Launch on CBOE", not "resources needed to understand how future contracts work".

While those would certainly be good as well, they assume that you know what's going on in the first place. It's not like we need to post a primer on JS and node ever time a new npm package is posted.

> What I Learned Losing A Million Dollars, the protagonist makes a big discovery. He remarks that a fellow called Joe Siegel, the most active trader in a commodity called “green lumber” actually thought that it was lumber painted green (rather than freshly cut lumber, called green because it had not been dried). And he made a living, even a fortune trading the stuff! Meanwhile the narrator was into theories of what caused the price of commodities to move and went bust.