Since it is Halloween, I thought that this was a perfect time to revisit a theme from one of our most popular seminars: Trading, Magic and The Art of Misdirection. We held it this past spring in Chicago and brought in esteemed magician Dennis Watkins. Through slight of hand, Watkins — who has been featured in Time Out, Huffington Post, The Chicago Tribune and many other publications — illustrated just how easy it is to be fooled while trading.
The impetus for the seminar came while I was reading the book Fooling Houdini by Alex Stone. Successful trading is dependent upon your ability to be a creative problem solver, and as an educator, I constantly explore creative ways to communicate important points to you.
It dawned on me while reading the book that the art of misdirection is the key positive element employed by magicians in an effort to intentionally mislead their audience. Being misdirected and focusing on price vs. value is the most detrimental error that we make as traders. And the most important aspect of trading is distinguishing price from value. By now, I’ve said it so many times that traders often don’t hear it anymore. So, I brought in Watkins to illustrate this slight of hand in person and drive home one of the most vital tenets of trading. (Check out an article we wrote on the subject here, 76 Misdirection.)
If you haven’t seen the magic show video, or were at the seminar and want to revisit it, we’ve included the segment here. Enjoy!
To watch the full magic show with Watkins at the seminar, see below: