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>Date: Tue, 20 Oct 1998 12:46:22 -0400
>From: Wong <whs@xxxxxxxxxxxx>
>To: omega-list@xxxxxxxxxx
>Subject: re: indicators, systems, discipline, money management etc
>Message-Id: <3.0.3.32.19981020124622.007e3a10@xxxxxxxxxxxxxxxxx>
>Content-Type: text/plain; charset="us-ascii"
>
>Thank you all who wrote to me, either privately or through the list. I
>appreciate your help.
>
snip
>My own experience is that given even a so-so system, I could survive when I
>tried not to violate common-sense adherence to taking profits.
>
>Anyone want to take up the challenge and start discussing about his/her
>personal experience regarding his/her trading discipline?
>
>Wong
Having a system you can run on TS is helpful. Much more so if you TRUST it.
Otherwise you'll start thinking that you know better.
I find I like some systems better than others. The ones that test out the
best are the hardest to trade due to the infrequent signals and really
loose stops.
Also it helps to forget about your bills. The need to make money can make
you do stupid stuff. Or the fear of getting hit can make you skip trades.
Usually these are the best ones! Also it's helpful not to sit and watch the
market when the system has no expectation of trading. You might get tempted
to try something!
Another thing, don't talk to your friends about whatever new TA they're
trying. Don't listen to CNBC and don't read the various "market opinions"
that show up here from time to time. None of this will make you follow your
plan any better.
More than ever I can see that the more religiously I stick to the plan, the
better off I am. I would like to know why it took so long to get this into
my thick scull. Once it's there it still seems to leak back out sometimes.
So it's an ongoing effort.
NOTE: I made a dumb post about the SP spurt the other day. Now I see there
were only about 50 ticks for the whole move. Pretty hard to be one of the
chosen few trades I guess. Sorry about that.
Have a good one everybody..
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