Kyle Vallans

Big Bets

Back when I was an active trader, my boss recommended I get a small notebook and title it "Big Bets."

Only the most opportunistic ideas I was thinking about, the ones close to playing out, would make it in.

It was very simple:

  1. A title for the idea
  2. Date
  3. Memo #
  4. A 1โ€“3 sentence reason why

If the trade eventually got taken, I'd highlight the title yellow.

If it never played out and never got put on, it just stayed as it was.

And, it really helped out.

Now I do the same for the "big bets" on A/B tests we want to try out on StockAnalysis.com.

Same idea, but just playing a different game. And many of these big bets end up playing out nicely, just like they did in the market.

*The stuff you do outside of the big bets is typically what shoots you in the foot.

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