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PureBytes Links
Trading Reference Links
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Highly recommend:
1) Mark Douglas' Disciplined Trader
2) meditation
3) Wayne Dyer's You'll See it when You Believe It
Chris
----- Original Message -----
From: "John Bowles" <johnbowles@xxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Tuesday, April 16, 2002 12:24 PM
Subject: Under financed trader seeking solutions to trigger pulling issue
> Hi.
>
> I am in the situation I suspect many traders may find themselves. If I
> remember correctly from the Jack Schwager books, even the great traders
> find it very difficult to trade when they are under financed as I am. I
> suspect it relates to the statement made by several in the book When
> the trader thinks of the money they are dead. When I read that I did
> not know exactly what it meant. Now I believe it means the trader will
> hesitate and miss good trades as well as sell too soon rather than hold
> until their targets based upon their record keeping. I have come to this
> conclusion because this is my situation (especially the hesitation). It
> is interesting because 4 times with fairly large sample sizes (80, 100,
> 150 and unknown) I tested myself doing strict paper trading and found my
> win/loss ratio hovered about 75% to 83%. Apply real money and it nose
> dives simply because I hesitate and miss many opportunities and refuse
> to chase. I have attempted applying a belief-based psychology I know
> called REBT as well as using the paper trading to build confidence and I
> still have difficulty. My current efforts are to specialize by
> restricting my market, time of trading, and patterns.
>
> I am wondering if someone else may have gone through this and managed to
> resolve the issue. Maybe a particular book may be worth reading or
> something I had not considered.
>
> I am also considering finding part time contract programming work
> hopefully related to trading. The idea being that the additional income
> would reduce the pressure and actually improve my trading which I would
> do during the morning trading session. With 19 years computer
> programming experience in 11 programming languages including VBA for MS
> access and some experience in TradeStation programming I am wondering if
> anyone might have suggestions on where I would find part time
> contracting programming work related to trading. With courses on stocks,
> options futures and a small bit of finance as well as my own trading
> experience I figure I can provide some value in this regard.
>
> Thanks for any suggestions,
>
> John.
>
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