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>OK, so you should have no problem telling us the details of your
>methodology since unless we have that missing 90% psych stuff we are not
>going to make any money from it.
>The above is sarcastic, but this is not: Why is everybody willing to
>feely dispense with their psych secrets, but not with their methodology
>secrets?
>I will throw this out...the true value of any trading advice is inversly
>proportional to how freely it is given away. If you disagree, I'd like
>to hear your reasoning. If you agree with the above statement, it's pretty
>hard to value commonly and inexpensively available psych advice as 90%
>of the trading equation while jealously guarded system details as only 10%.
>Scott Hoffman
>I agree with Mark Douglas
>(author of The Disciplined Trader) when he told me at his seminar that
>trading is actually more than 90% psychology and only 10% or less
>methodology.
I am not going to agrue with you as to what proportion of pschology and
methodology in becoming a successful trader. My own 28 yrs. of experience
shows that the only thing I got out of what's available out there are the
wisdoms
( pschology) contained in those books. I have never so far found a system,
idea, or secret out there that I currently use. This has validated my long
time suspicion that if there is something that really "works" it would not be
sold. If it is, it will be snapped up by wealthy individual or institution
and will not be avail. to the public. It has to come from you. I founded
this nice apple in about 7 yrs, but it took me the next 21 yrs to dig throught
the rest of the barrel to realize I got the best apple. Wait,
wait,........... my friend just handed me another apple to check out !!!!! He
told me that with NASDAQ Level II I could trade off the news and there's BIG
MONEY IN IT !!!! Isn't there a couple named Adam & Eve , and Snow White who
got in trouble over it ???? No thanks !! Nobody is going to hand it to you for
free.
The way I see it is psychology is 90% of the game won, and methology is
the other 90% and together 90% + 90% = 100% ;- )
Happy trading,
Jim Wong
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