|
PureBytes Links
Trading Reference Links
|
This is true, Tim. And the really interesting thing is that one person
who does his homework will successfully incorporate some of these
techniques into his trading, while another who has done his homework
will find no practical use for them. Perceptual filters are as varied as
traders themselves, which accounts for why one trader using tool 'x'
succeeds while another using tool 'x' fails. In the latter case, tool
'x' simply doesn't fit right, it isn't 'him'(or her). Traders will blow
up using tools that don't fit their psychological makeup -- regardless
of how good the tools are in themselves -- because they are using a
method they are not really comfortable with. This translates into
uncertainty and lack of confidence. Even in a pure system, in which
there is no discretionary intervention, results will suffer because the
second-guessing engendered by a lack of trust will trigger the
introduction of inappropriate discretionary measures.
Regards,
Monte
Timothy Morge wrote:
>
> My take on the Joe Ross books [And I own all of them, including one he
> published on race track betting] is that these materials should be used as
> a catalogue of someone else's tools. Are they valid for your own trading?
> There's only one way to find out: Read the books carefully and then watch
> the techniques he describes in real-time and do your homework. Some people
> may find some merit in the techniques and take some of them and add them to
> their trading tools. Others may read the books and get little or nothing
> out of them. NO books are all good or all bad--or all useful or all rubbish.
>
> It's vendor world out there, folks. Unless YOU do your homework, you can
> and probably will get burned. Test things out for yourselves.
>
> Tim Morge
>
> At 10:14 AM 2/20/01 -0800, WParks wrote:
>
> >On the 5, there are 3 Joe Ross books, which I
> >consider as the best ones I ever read, namely:
> >The Ross Hook, Trading by the Minute, and Trading Optures and Futions.
> >By the way, I would like to exchange one of the above against "Trading is a
> >Business", which I would like to read also.
> >
> >Trading Is A Business is a great first book for anyone interested in trading
> >for a living. Like many newbies, I traded without regard to a business plan,
> >rules, or any consistency to what I was doing. After reading this book, I
> >changed my whole perspective on trading, and what I was doing (or more
> >importantly not doing). Six years later I still follow my trading plan,
> >voice record my trades, review my wins and losses, etc. The only other book
> >I have read by JR, Trading by the Minute, was informative, gave me some
> >ideas, that I incorporate with other methodologies I use, but is not the
> >holy grail.
> >
> >William
|