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Who says he failed?
You know, I'm constantly reminded of a line in a book I once read (I forget
which book) where the author brings up
the difference (distance) between horses at the finish line. (I suppose you
could substitute runners or other types of competition). Anyway, the point
the author made was that the winning horse was not all *that* much better
than the horse that finished 2nd or 3rd by a length or two. But its the 1st
horse that wins the prize.
In human endeavors, I'm inclined to think that often, people who "win", may
have found not some holy grail, but a very small edge, some nuance unnoticed
by the marketplace, whether it be in some mathematical formula, the trading
platform/system, the types of securities traded, intraday/long term, capital
at their disposal, psychological, etc.
The guys who have succeeded, at least up till now found an edge and
exploited it.
There are others (the horses in 2nd or 3rd place), that may have gotten
*very* close to that elusive edge, but it kept eluding them. Some will give
up. Some will return again one day, if in the middle of the night, some
"damn good" idea, enough to give them that edge, suddenly appears.
Those of us with an edge today, can only be hopeful that it will continue in
the future, and if not, that we can find something else should it fail.
Sooner or later, the market manages to humble even the best. Fortunately for
traders, even 2nd and 3rd place makes damn good dough!
----- Original Message -----
From: "Wyatt" <wparkinson@xxxxxxxxxx>
To: "Gregory Wood" <SwissFranc@xxxxxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Monday, January 05, 2004 7:13 PM
Subject: RE: Goodbye!
> You know what failed traders do? They sell their systems and/or
> recommendations for hundreds to thousands of dollars a year. I don't
know,
> maybe it's just the cynic in me, but I think that this is how most
intraday
> "traders" make a consistant living.
>
> So I think you should dig up your most successful trading strategy and
start
> selling it. Heck, probably the easiest way that has the least burden of
> responsiblity is to write a trading book and sell it.
>
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