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> Alexander Elder advocates starting every day saying "I am a loser, I can
> do great damage to my account".
It might be a good advice for those who think trading is easy. After one
proves the opposite, better say "I am a winner, I cannot do great damage
to my account" :-) .
Actually, somebody with a thorough understanding of things noted that
"trading requires a psychotic (!) mentality: a self-confidence with a (well
thought out and planned in advance) readiness to admit a loss". I think
this is the key to success in trading, not what indicator you use. It's
like reading - without the ability the gates to knowledge are locked. But
you cannot go around endlessly discussing how you read and what's the best
way to do it. You may guess what I am about to say <g>: that TA
discussion forums are really about " how to read", not "what to read" .
Though TA is a great fun by itself.
Happy Thanksgiving (if you observe)!
Cheers, Vitaly
----- Original Message -----
From: "Joe Duffy" <joeduffy@xxxxxxxxxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday November 21 2000 8:32 PM
Subject: Re: Market Gurus
> Alexander Elder advocates starting every day saying "I am a loser, I can
do
> great damage to my account". Whatever else he repeats about others through
> heresay is pretty hollow, if thats how he views his own trading.
>
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