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At 10:13 AM 8/20/97 -0700, Rick Ratchford wrote:
>I thought Norman brought out some interesting points that I have to
>agree with.
Me too. It would seem that success in the pit or away has little
to do with IQ or education. But what's going on when an untrained
newcomer does nothing but watch a quote display and knows when
to buy and sell? A certain orientation to do the opposite of the
crowd? An ability to see what the market wants to do from the
flow and sequence of trades?
Who on this list feels that he/she is a natural trader, who could succeed
with nothing but access to a quote machine? How do you describe what
it is you see? Or is it what you do with what you see?
Who else has known a natural trader? What was it the trader had?
Has anyone here started out poorly, but learned how to trade by just
watching the market, getting a "feel" for when to trade?
For the rest of us:
Is there anyone who has not been deep into studying a method, or doing
their own research, and wondered "Geez, why is this so hard"? How far
do you widen the search when looking for your own convictions?
Simplicity does seem to be the thing. Your stuff tells you what's likely
to happen next. You trade. It happens or it doesn't. You exit. After all,
there's only 3 possible outcomes: up, down, or neither. Good trading is
reacting properly to what it does.
Nobody knows the next move. Some people know the probability of the
next move. Some of those people know how to speculate on probability.
And some of those people can control greed and fear. You can hack
your way out of the loss column with the right attitude, but it's
a long uphill climb. Probably leaving some of us a little jealous
of the pizza delivery boy who stumbles into the pit and discovers
his gift.
I'd like to see input from those who did well right from the start.
What exactly is the nature of this talent?
Wayne Moody
wlm95@xxxxxxxxxx
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