The PhantomAlpha Blog

The statistics are uncomfortable. Studies consistently show that the majority of retail traders underperform simple index funds — often dramatically. The reasons why are more predictable than most traders want to admit.

Alpha is the most important word in performance measurement — and the most misunderstood. Here's what it actually means and why it should change how you evaluate your trading.

Every trader obsesses over finding the right stocks. Almost none obsess over the one thing that determines whether they survive long enough for their picks to matter.

The single most common pattern among developing traders is cutting winners short. Understanding why it happens is the first step to fixing it.