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Exactly! The person succeeds, the system/technique/method is merely a via-media. A person who makes a conscious decision to go the system route and avoid the discretionary route or vice-versa has evaluated him/her self , their risk tolerance etc and made a choice which they think is appropriate for them.
A lousy trader can break a great system/method and wipe out his entire corpus. A proficient trader with appropriate money management can make a handsome living with a mediocre system/method. So handing out tips which are in the nature of trade entry setups is actually a disservice to the person asking us to share our experiences, which I am sure Louis did not ask in the first instance . In this particular thread Paul Ho's post is worth it's weight in gold. Develop proficiency in one set-up and then talk about moving on.
Best Regards R ps; Louis the following two trading groups and websites have a wealth of info by people who are successful traders day after day on a consistent basis.If you have the time and inclination make the effort and I am sure it will help you get a clearer focus on how you would like to tackle the issue of your trading future.
http://www.dacharts.com/
http://www.trading-naked.com/
Profitable-Trading-Techniques@xxxxxxxxxxxxxxx
e-mini_traders_anon@xxxxxxxxxxxxxxx
On Sun, Aug 3, 2008 at 7:58 PM, Jan Malmberg <jan@xxxxxxxxx> wrote:
Hi,
Well, I had 6 years of martial arts
training, where I understood (but unfortunately not yet attained) the principle
of "no-mind" when executing tasks. I have also had some limited
time as a military instructor, and it became obvious that during patrol and combat,
when people fire at you (blanks and smoke grenades, but still), there ones who
make it are the ones who do not take the time to think.
However, ones ability to enter this state
of mind is dependent on having enough training so that you subconsciously know
that you really do not have to think about how to move and shoot properly.
Of the Tekki Shodan pattern, the ancient
warriors said something to the effect of "Most patterns require at least
10 000 executions before being mastered. However, you should not even
consider demonstrating Tekki Shodan to your master before you have had 100 000
repetitions."
It is interesting to note that to reach
the original state of mind while carrying out un-natural activities, you do
need lots of training, and that some things in every field are a lot more
difficult than the average task in that skill set.
Best regards / JM
> 3. Level of spiritual attainment.
Semantics plays a part in any discussion, especially when we are
crossing cultures etc. It plays a greater role in 'spiritual'
discussion than it does in any other.
So, first the semantics.
We are not limited to the term 'spirituality' as we can talk around
the same area in many different terms (objective mind/subjective
mind, rational/intuitive, super-consciousness, super-rationality the
collective unconscious, God, the Soul, the Divine, the Supreme and
millions more).
For ease of discussion I will stick with 'spirituality'.
A few basic points:
- generally the 'spiritual gene' is latent in humanity, across all
cultures
- it is more virile in a small %
- it is particularly latent in the West/modern culture where we have
turned our back on our spirituality
- I dare say this forum has more than its share of latent
spirituality under the surface
- the psychic opposites are not antagonistic forces e.g. soul versus
body but rather a complimentary whole so that is not a matter of
logic/programming trading versus intuitive/discretionary trading. We
are all using both, at different times and places, even those who
deny it (there is no such thing as a 100% objective/rational person).
- a healthy psyche has a good balance and flows between each psychic
pole in its own season.
The main pragmatic points:
- we can't bootstrap our subjective mind so we have to turn to
mentors for written or oral teaching
- some have more aptitude for it than others
- I was very priviliged to have some experience in these matters long
before I started trading (my subjective consciousness/soul was
already active and able to express itself in the world) but it still
took years of pragmatic, practical, objective work to 'program' the
trading mind to match i.e. I had to pass a sufficient number of
exams, in the core units, at the 'University of Trading', before I
could 'enter the trading zone'.
In laymans terms, my intuitive mind was functioning but I still had
to go out and tediously train my rational/objective mind, and learn
as many of the objective rules of trading as I could, before the
subjective and the objective minds could synchronize in the trading
room.
"Give unto Caeser that which is Caesers AND give homage to your God".
brian_z
--- In amibroker@xxxxxxxxxxxxxxx,
"Jan Malmberg" <jan@xxx> wrote:
>
> Hi,
>
> I sometimes daytrade using even delayed data for the charts, and a
list
> compiled list stored in my broker's web application. It works
alright. Most
> of the time I do short-to-mid-term swing trading. With just the 15-
min
> delayed data. Ok, real-time for the indexes.
>
>
>
> Here's my opinion.
>
>
>
> The three components that determine your success are usually:
>
> 1. Level of analysis. How good you can produce low-risk entries
with a
> probable future outcome, which of course is never totally possible.
> 2. Level of money management. How much you bet on one single
trade, how
> well you scale in, scale out, set and stick to stop-orders, and
more.
> 3. Level of spiritual attainment. How much you have attained the
> "no-mind" state of the ancient warriors and spiritually achieved
people.
> Which means that you fearlessly execute trades while maintaining a
> risk-appropriate behavior. Only really possible when you no longer
fear the
> horrible market and what it might do to you.
>
>
>
> Which one is most important? The one you lack the most at the
moment. I was
> fortunate to start out with fairly solid money management from the
start.
>
>
>
> Best regards / JM
>
>
>
>
>
>
> _____
>
>
> From: amibroker@xxxxxxxxxxxxxxx
[mailto:amibroker@xxxxxxxxxxxxxxx]
On Behalf
> Of Louis P.
> Sent: Thursday, 31 July 2008 2:15 PM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: [amibroker] Anyone actually making money?
>
> Hi,
>
> I was only wondering... Anyone actually making money or making a
living
> with AB and trading?
>
> I've been working on ideas and plans for over 7 months now and
didn't find
> anything convincing yet. I've been searching daily data, then
hourly,
> 15-minute and now I am into 1-minute data and nothing seems
satisfying.
> Been searching RSI, MFI, ADX,
MA, HHV, LLV... nothing seems to
work.
>
> So... Anyone is making consistent money with this, and if so, at
which
> timeframe and how do you do it?
>
> I'm beginning to think about switching to tick database; it seems
even
> 1-minute is too slow for intraday trading. Anyone making money with
> 1-minute?
>
> Thanks,
>
> Louis
>
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