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As far as the questions on money management you've raised from
attending Omega world, here are my thoughts:
Based on your questions, it seems you are looking for a "path," or a
direction, having been exposed to different paths or systems on money
management.
My suggestion is to forget all of this for the time being.
With technical systems, you need to first develop a perspective before
you can create systems that work. First, you learn about constructing
charts, developing indicators, etc. You develop a perspective. When
someone talks about price acting in a certain way, you envision it in
your head in a bar chart, for example.
Likewise with money management. You need to first develop a mental
picture, a perspective, of what is going on in terms of money
management.
When I do that, I see we are on a landscape, and that most of the
money management systems we see, read or hear of, just have us
somewhere on this landscape, or traversing this landscape in a certain
fashion through time.
I'm not speaking badly of ANY of these systems. I am simply saying
that by developing a mental framework - a perspective - on money
management, you can judge these different money management methods and
arrive at your own conclusions.
When I speak of this landscape, I am talking about a mental picture -
a perspective - which I arrived at pertaining to money management. I
reluctantly advocate it. I say this because, for me, it works.
However, there may be better perspectives out there than the one I
arrived at.
Sincerely,
Ralph Vince
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