And George Soros said, "I don't play the game by a particular set of rules; I look for changes in the rules of the game."
It isn’t my opinion that changes constantly, it is my observations. Successful traders think dynamically, and are not locked into static trading ideas. The market is constantly changing and the trader/investor who goes into a trade/investment with a fixed point-of-view will inevitably get hurt. Cryoport is a case in point.
A good trader doesn't so much predict the market as identify what it is doing. That means keeping an open mind to market action and being ready to switch from the long side to the short side (or to exit altogether) as conditions dictate.
Static thinking can be appealing. It is alluring to think that there is a single, unchanging order to the marketplace and that some particular contrivance can discern that order. Static traders want rules they can count upon to make money, now and forever. Unfortunately, there is no Holy Grail.
Markets change their rules with regularity, based upon shifts in interest rates, currencies, economic conditions, commodity prices, sentiment, and institutional participation. Even the time series of price changes from one period, may not be drawn from the same distribution, as the time series of price changes from the next, or the one before it, never mind from day-to-day or week-to-week.
Catching moves in markets requires that we see (in real time) the rules shift as they are happening. Which, by definition, means that we cannot be locked into any single set of rules or ideas for very long.
