Competition
As you trade, no matter the style employed, you need to be aware of the competition. And when you think of the competition, you better think how their trading affects you. You can’t just sit back and ignore the world. From the ground up your trading philosophy needs to be aware of other market participants and specifically other market participant’s varying time horizons. Trend followers might be fine with the belief that price analysis already factors the competition, but shorter-term systematic traders better be aware of Jim Simons.
