Trading is Like, from Sushil Kedia
You may have heard the following quote:
Philosophy is like being in a dark room and looking for a black cat.
Metaphysics is like being in a dark room and looking for a black cat that isn't there.
Theology is like being in a dark room and looking for a black cat that isn't there, and shouting "I found it!"
Science is like being in a dark room looking for a black cat using a flashlight.
Spirituality is being in a dark room looking for a black cat with a torch and discovering "you" are not there.
I would like to add:
Trading is like waiting for a bookie to get in a dark room first and yell out a spread and then not going into the room until you have locked up one leg of a wider spread, then going in and giving it to the bookie at the tighter spread he is holding on to.
Of all ideas available, wherein non action is not a possible choice, then choosing the one where one may claim better understanding or lesser severity in testability to handle adverse incursions better, is defined as risk management.
I disagree with the definition of science, since the moment you have a flash light on, the room ain't dark any more. So will instead settle if you kindly change that to looking for a black cat in a dark room using body heat sensors.