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Tom and I both have the same job title," Private Trader". I think there's
a good reason for this- I think we are both honest. Though I only know him
for about 2 week thru this Omega list, I think we might have a lot in common.
Here's the story of my life:
1) Graduated from college in ' 74 and bump around for 1 1/2 yrs "finding
myself"
and trading since 1970.
2) Applied for night clerk job at a major bank, instead got a great job as
a Stock
and Bond Trader there. Quit after 1 1/4 yrs. because I was making so
much
money trading my own system that I couldn't justifly staying any
longer.
3) Walked the streets going from one brokerage to another using their quote
machines for free. Hang around with that crowd and endured a lot of
"trading
noise".
4) Decided to get off the street and come home and lock myself up in my
room
and trade full time. This is what I have done since to this day !
Except for a
brief period of about 2 yrs. trading privately for about 12 accounts,
which I no
longer find rewarding nor mix well in maintaining trading discipline.
In 28 yrs. of trading, thru choices of my own, I have never been a broker,
money manager, advisor, system vendor, never written a book, gives no semiars
!!!!! I have nothing I want to sell to you, so this should qualify me to give
you( Omega list people) some trading wisdom. My own experience shows that all
this trading systems and testing are for the birds, unless you want to help
"them" get rich on your ignorances. The laws are there to protect the
innocent, not the fools. Don't buy any trading systems. I suspect that most
of you already have a system that will make you rich, if only you have the
discipline to perfect yourself. I haven't found any systems that's worth what
they claim-
and I have seem plenty. IF it's so good, why are they selling it !!!
Yes,yes,yes ! I have heard all the excuses, but I am not buying it ! At a
mininum, they should show proof that they made money in their own account
using the same system that they claim will make you rich. They'll sell you
anything you want. Do yourself a favor, and pick up a few good trading books
and maybe you might pick up a few good stimulating ideas and wisdom that will
carry you thru. this " hardest way to make an easy living " trading careers. (
I love trading)
Two of the best books that I have ever read are The Profit Magic of Stock
Transaction Timing by James Hurst and Essays On Swing Trading by Linda
Bradford Raschke.
Lastly, listern to Tom. He's not selling anything, that makes him an
excellent teacher. You can't listern to me, because I am too lazy and old ( 45
) to write.
Remember !! this is war.
My motto- " walk in quietly, take the money, and walk out quietly"
Happy trading,
Jim Wong
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