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Hi Christoper,
Sunday, January 16, 2005, 2:53:32 PM, you wrote:
C> Yeah, I've purchased, tested, played with tasc issues over the past
C> year, and never found anything really useful either. Its encouraging
C> to see that I'm not alone.
C> Having said that, where else do you go for 'inspiration'?
Something I discovered a long time ago, that I much later found
written in Alan Farley's well known book:
(I'm paraphrasing because I'm not going to look it up, so if I hit it
on the money it's just an accident of good memory.) ^_^
"Profit and discomfort often stand side by side."
The Americans summarize that, in a way, by saying, "Think out of the
box". That's not exactly right however, but it's close. Look at your
charts. Study them. Look for great trades that that you could have
made, but that would have been really difficult (psychologically) to
execute at the time, but which in hindsight became both rather clear
and highly profitable. See how many times this has happened. Force
yourself to execute a few of them in the future.
Notice how many of them that, while difficult to execute, also had
rather remarkably small risk parameters that would tell you pretty
quickly if you had taken someone else's bait.
This is *not* an easy business. (Repeat 15 times before the market
begins each day.) ^_^ You either need to be able to execute
uncomfortable trades, or have a (profitable) system that forces you
to do so. All the insiders and market makers and market movers know
*exactly* what the "comfortable" executions are. They are waiting to
shake your nerve to the core almost every time you decide to execute
one.
Yuki
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