|
PureBytes Links
Trading Reference Links
|
At 02:56 PM 6/2/98 EDT, Gene Batten wrote:
>I would like to add "2 cents worth" to this thread.
>
>I am not yet a full time professional trader, but I think that eventually
>I will be. Presently, I have a full time day job and I position trade.
>Being interested in trading, I have read (or am reading) almost every
>book in sight about trading. I have also taken two of Dr. Van Tharp's
>(he is one of Schwager's 'Market Wizards') courses. One of the courses
>was on trading system development where I met Tom Basso (another
>Market Wizard).
>
>The picture that is evolving in my head is that having a trading system
>is important, but, it is MUCH more important to be disciplined in your
>trading, and to practice wise money management. Lack of discipline and
>poor money management are two of the greatest "killers" of beginners
>according to Tharp and others.
>
>There really is not a "secret" to successful trading other than
>self discipline, proper money management, and a reasonable level
>of technical competence. I am presently reading THE DISCIPLINED TRADER
>by Mark Douglas. This book should be REQUIRED reading by anyone even
>thinking about trading.
>
>So, what types of post would I like to read. How about posts on
>money management and self discipline? How do others approach these
>two aspects of trading?
>
>Well, this has turned out to be about "a nickles worth", so enough
>from me for now.
>
>Gene Batten
>mdleb@xxxxxxxxx
>
Gene,
I heartily endorse your ideas. Get a good thread going on trading
discipline and money management. I'm a position trader except for when
I take a day off to putter in my gardens (the vegetable/flower garden
and the market garden).
PeteNa9090
petena9090@xxxxxxxxxxxxxx
|