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There was a guy who made his living walking a high wire. There were no nets
and death or serious injury came with failure. He was famous but I can't
remember his name but his whole family did this. I remember what he used as
an example of how he could do this day in and day out which enabled him to
be 85 and die from old age. Even after experiencing a tragic accident that
took some family members lives crippled others. He said you can train your
mind to completely remove an emotion doing a certain task using logic and
repetition. The emotion of course here was fear. He would train his family
by placing a board 5'' by 1'' by 12' held up by two small bricks on each
end a foot high. He then would instruct each student to walk the board. All
did with ease. Then he told the students to imagine the board being held up
by two twenty story buildings in stead of two small bricks. He only
demonstrated the one with the small bricks and let the imagination
demonstrate other in the mind the same place that held the fear. He made
them repeat this exercise for many, many months doing and saying the same
thing each and every time. One thing they were able to do on the ground was
succeed every time. When the day came to walk the high wire they did so
without fear. So some traders can master fear using their imaginations
repeating simple trading task daily. The detachment from money and other
exercises that hold the fear of losing. I have seen some traders on here
Bob and others say they make believe the money isn't real to lesson the fear.
My believe is there is entirely to much to do about having the right
system, book, indicator and philosophy to become successful in trading. How
much do you see on how to trade without fear ? Everybody could be a great
trader if he or she could and would trade fearless. What you think its
impossible?
Robert
At 11:39 AM 6/21/00 -0500, Jimmy wrote:
>Bob,
>
> The human brain has capabilities beyond our conscious ability to
>understand. If I can remove the fear and greed from my mind then successful
>trades come easily.
>
>Jimmy
>
>
>The fact that technical analysis can work is no longer in much doubt.
>Professors who have tried to prove that markets are a "random walk"
>with prices determined by the "efficient market hypothesis" have
>failed to prove it. Most now acknowledge that at least short-term
>patterns exist that can be used to extract a profit from the markets.
>
>I think there are techniques that work because of good technical
>reasons and there are techniques that work because people think they
>SHOULD work and that then becomes self-fulfilling.
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