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1. False expectations
2. Probably not much more unless there is something really new
introduced.
3. Mismanagement and #1
4. This one is fine.
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "metastkuser"
<andysmith_999@xxxx> wrote:
> I have a question (unrelated to Metastock) for the experienced
traders
> on this forum.
>
> I have now read a dozen books on trading -- not the foo-foo books
that
> promise $10M in the next trade, but ones by Tharp (my favorite),
> Chande, Le Beau, Stridsman, Elder, Covel, Schwager (and O'Neil,
> Link,...) and a couple of Tharp's IITM publications on money
> management etc. Will get to Kaufman next. And of course every issue
of
> Roy's MSTT which are simply marvellous.
>
> I've put a couple of hopefully positive expectancy systems together
> (discretionary at this point so it's not easy to use the system
> tester). The systems have four stages: 1) setup (to identify market
> trend and stock trend but not entry), 2) entry (looks at timing), 3)
> exit and 4) money management. I have spent quite a bit of time on 3)
> and 4) because I believe they hold the key to being a successful
> trader. I use volatility as a significant determinant in all 4
stages.
>
> So I've done my homework. The odd thing is that none of this has
been
> difficult to understand -- not just for me but I'm sure for anyone
who
> takes the time and has some patience.... and now I am confused.
>
> 1) Why do so many traders fail? Have they not read these books?
> (Please don't reply that they are undercapitalized and/or they have
> the wrong psychology for trading).
>
> 2) What do reading the next 50 books buy me (besides the enjoyment
of
> reading them)? Surely the law of diminshing returns kicks in right
> about now.
>
> 3) At this point, what would the typical causes of failure be?
>
> 4) This is a Metastock forum. Can someone point me to a more
> appropriate forum for this type of discussion (I have not found
one).
>
> Thanks!!!
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