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Dr Narayan,
Thanks for your input, I felt the need to better understand the use of
discipline in regards to trading because it is so often sited as the means
to success. I'm sure that if it paid off as automatically as the food
dispenser does for the chicken that we'd find it easy to play those notes.
The quest that most of us are on is to find the right notes to play.
It would seem to me that non-system traders would have to trade purely at
random, by the flip of a coin or a random number generator. According to
the recent survey pure system traders are about as rare as random traders.
I figure that there is something to be learned here. It would seem that
instinct in the end is virtually never completely eliminated from the human
equation. As it is with most aspects of life a careful balance usually
results in the best result.
Brent
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> From: narayan c.k. <ckn58@xxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: SYSTEMS/Discipline
> Date: Saturday, May 02, 1998 2:24 AM
>
> Brent wrote:
> A chicken will learn to play a few notes in response to a light
> coming on if it knows that it's going to get food if it does. Is that
> discipline and if so which kind?
>
> Brent,
>
> It seems to me that you have almost answered your own question. Be it
> the chicken or ourselves, the ultimate objective is to get the "food"
> (for us, the profits). The difference is, the chicken may not find it as
> difficult to play a few notes as you and I have in observing some simple
> trading rules. "Discipline", in my book, refers to our ability (or lack
> thereof) to learn to play those few notes on a consistent basis so that
> we too get our food.
>
> Dr. Narayan
> Mumbai, India.
>
>
>
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