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Mark Douglas makes two comments on Ray Barros Review



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<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=620020816-18061998><FONT color=#0000ff face=Garamond 
size=4>RealTraders:</FONT></SPAN></FONT></DIV>
<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=620020816-18061998><FONT color=#0000ff face=Garamond 
size=4></FONT></SPAN></FONT>&nbsp;</DIV>
<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=620020816-18061998><FONT color=#0000ff face=Garamond size=4>I know Mark 
Douglas because he is a user of our software, Nature's Pulse. This morning he 
called and asked if I would post a message to RealTraders for him. He very much 
appreciates Ray Barro's positive comments of about his new work, entitled: 
<U>Trading in the Zone </U>and is excited about coming on RealTraders with us 
for an interview next week.. But he has two minor corrections to 
make:</FONT></SPAN></FONT></DIV>
<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=620020816-18061998><FONT color=#0000ff face=Garamond 
size=4></FONT></SPAN></FONT>&nbsp;</DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3>1)&nbsp; The price is $150, not $200.</FONT></SPAN></DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3>2)&nbsp; Mark says you can't go into the Zone at will. It's more of a 
spontaneous thing. </FONT></SPAN></DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3>Next week, in the interview, perhaps Mark will shed some light on how we, 
as traders, can at least set up the conditions that will allow us to trade in 
the Zone more frequently.</FONT></SPAN></DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3>Eddie Kwong</FONT></SPAN></DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN><SPAN class=620020816-18061998><FONT color=#000000 
face=PalmSprings size=3>Real trader since 1976</FONT></SPAN></DIV>
<DIV><SPAN class=620020816-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN>&nbsp;</DIV>
<DIV>
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<BR><B><FONT color=#000000 face=Tahoma size=2>RealTraders Etiquette</FONT></B> 
<BR><FONT color=#000000 face=Tahoma size=2>1. If you're right about something. 
Don't brag about it. That is not a trader's attitude. Traders both win and lose 
as a matter of routine; both are good if you're managing money correctly. 
Therefore, the more mature you are as a trader, the less need you will feel for 
bragging about being correct. When traders win, they move on. When traders lose, 
the move on.</FONT></P>
<P><FONT color=#000000 face=Tahoma size=2>2. If you post an idea that turns out 
to be right but don't brag about it, you will earn more respect from the rest of 
us.</FONT></P>
<P><FONT color=#000000 face=Tahoma size=2>3. Humor is good, but at least try to 
be funny.</FONT> </P>
<P><FONT color=#000000 face=Tahoma size=2>4. In the normal course of business, 
it's not good to be rude. But I also realize that silencing someone who is 
behaving like a total idiot is sometimes a community effort. </FONT></P>
<P><FONT color=#000000 face=Tahoma size=2>5. If you talk about something you 
also sell, what you're saying has to be educational and non-commericial in tone. 
Use brand names sparingly. Talk instead about methodology. Back up what you say 
with numbers. Rest assured that people get really annoyed if you step over the 
fine line.</FONT></P>
<P><FONT color=#000000 face=Tahoma size=2>6. You will be kicked off if you try 
to B.S. anybody on the list.</FONT> </P>
<P><FONT color=#000000 face=Tahoma size=2>7. If you are not a trader or are just 
learning, you are welcome to ask questions.</FONT> </P>
<P><FONT color=#000000 face=Tahoma size=2>8. If you are not a trader, but think 
you know a lot about making predictions--trust me--you will feel more at home on 
a newsgroup like misc.invest.stocks or misc.invest.futures.</FONT></P>
<P><FONT color=#000000 face=Tahoma size=2>9. Don't be an educator or teacher. Be 
a trader. </FONT></P>
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From: "Eddie Kwong" <eddiekwong@xxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: RT 6/18/98 BULLETIN; Mark Douglas Coming to RT
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<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=90495515-18061998><FONT color=#0000ff face=Garamond 
size=4></FONT></SPAN></FONT><SPAN class=90495515-18061998><FONT color=#000000 
face=PalmSprings size=3>RealTraders:</FONT></SPAN></DIV>
<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=90495515-18061998><FONT color=#0000ff face=Garamond 
size=4></FONT></SPAN></FONT>&nbsp;</DIV>
<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=90495515-18061998><FONT color=#0000ff face=Garamond size=4>I will be 
conducting an interview with Mark Douglas next week. Mark Douglas is the author 
of one of the best trading psychology books ever, <U>The Disciplined Trader</U>. 
I read it a few years ago and was impressed with Mark's insights into how we, as 
traders, tend to focus too much attention on the past (failures and successes) 
and future (hope) as opposed to current market conditions and the present status 
of our trades.</FONT></SPAN></FONT></DIV>
<DIV><FONT color=#0000ff face=Garamond size=4><SPAN 
class=90495515-18061998><FONT color=#0000ff face=Garamond 
size=4></FONT></SPAN></FONT>&nbsp;</DIV>
<DIV><SPAN class=90495515-18061998><FONT color=#000000 face=PalmSprings 
size=3>You will have the opportunity to ask you own questions about Mark's ideas 
on trading, particularly as they relate to his new work entitled, <U>Trading in 
the Zone </U>which was recently given a favorable review by RT member, Ray 
Barros.</FONT></SPAN></DIV>
<DIV><SPAN class=90495515-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=90495515-18061998><FONT color=#000000 face=PalmSprings size=3>I 
will soon provide you with a special email address to send your questions to. 
So--in the meantime--be thinking of what you want to ask 
Mark.</FONT></SPAN></DIV>
<DIV><SPAN class=90495515-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=90495515-18061998><FONT color=#000000 face=PalmSprings 
size=3>Eddie Kwong</FONT></SPAN></DIV>
<DIV><SPAN class=90495515-18061998><FONT color=#000000 face=PalmSprings 
size=3></FONT></SPAN><SPAN class=90495515-18061998><FONT color=#000000 
face=PalmSprings size=3>Real trader since 1976</FONT></SPAN></DIV>
<DIV><SPAN class=90495515-18061998><FONT color=#000000 face=PalmSprings size=3>
<P><FONT face=Tahoma 
size=2>****************************************************************</FONT> 
<BR><FONT face=Tahoma size=2>FEATURED NOW ON THE RT WEB:</FONT> <BR><FONT 
face=Tahoma 
size=2>------------------------------------------------------------------------------------------------</FONT> 
<BR><FONT color=#000000 face=Tahoma size=2>1. NEW SUBTOPIC DISCUSSIONS ON THE 
REALTRADERS WEBSITE:</FONT> <BR><FONT color=#000000 face=Arial size=2>Daytrading 
futures&nbsp;</FONT><U> <FONT color=#0000ff face=Arial size=2><A 
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target=_blank>http://www.realtraders.com/daytradingfutures</A></FONT></U> 
<BR><FONT color=#000000 face=Arial size=2>Money Management&nbsp;</FONT><U> <FONT 
color=#0000ff face=Arial size=2><A 
href="http://www.realtraders.com/moneymanagement"; 
target=_blank>http://www.realtraders.com/moneymanagement</A></FONT></U> 
<BR><FONT color=#000000 face=Arial size=2>(entries, exits, stops, etc.)</FONT> 
<BR><FONT color=#000000 face=Arial size=2>Elliott Wave&nbsp;</FONT><U> <FONT 
color=#0000ff face=Arial size=2><A href="http://www.realtraders.com/elliottwave"; 
target=_blank>http://www.realtraders.com/elliottwave</A></FONT></U> <BR><FONT 
color=#000000 face=Arial size=2>Market Geometry&nbsp;</FONT><U> <FONT 
color=#0000ff face=Arial size=2><A 
href="http://www.realtraders.com/geometricforecasting"; 
target=_blank>http://www.realtraders.com/geometricforecasting</A></FONT></U> 
<BR><FONT color=#000000 face=Arial size=2>Mutual Funds&nbsp;</FONT><U> <FONT 
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<BR><FONT color=#000000 face=Arial size=2>Trading Psychology&nbsp;</FONT><U> 
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<BR><B><FONT color=#000000 face=Tahoma size=2>RealTraders Etiquette</FONT></B> 
<BR><FONT color=#000000 face=Tahoma size=2>1. If you're right about something. 
Don't brag about it. That is not a trader's attitude. Traders both win and lose 
as a matter of routine; both are good if you're managing money correctly. 
Therefore, the more mature you are as a trader, the less need you will feel for 
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</x-html>From ???@??? Thu Jun 18 09:57:41 1998
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From: Essan Soobratty <trader@xxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: FUT: Currencies
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Earl,

(1) "Cable" is market-speak for pound vs USD.
(2) I generally track spot but do look at the future as well.  I trade both spot &
future.

In my experience volume/open interest analysis  tends not to work too well with the
currencies.  There is now a proliferation of forex brokers that offer margin
trading  - even to the little guy like me :).  Which means that in addition to the
huge interbank activity there is also a growing volume of spec activity that is not
accounted for in the futures market.

I would say that volume/open int analysis should not be weighted anywhere near as
stongly as pure price analysis when it comes to the for the forex markets.

BUT this is all coming from someone that uses moving averages as a core component in
his trading methodology!  Make of it what you will....

Rgds,

E.


Earl Adamy wrote:

> I have to agree that pound trend is up and strong, and volume is not generally
> early into a reversal, however the trend appears mature enough that it needs
> volume to support it. If we don't get a reversal in the pound very soon I will
> have to rethink the use of volume, and especially, nettick with currencies. Are
> you watching the futures or the forex or both? What is "cable"?
>
> Earl
>
> -----Original Message-----
> From: Essan Soobratty <trader@xxxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Thursday, June 18, 1998 10:00 AM
> Subject: Re: FUT: Currencies
>
> >Earl,
> >
> >The lack of a sustained selloff following the recent rate hike coupled with
> strong
> >trendling support under the market left the pound vulnerable to a spike up.
> The
> >trigger for the rally was comment(s) from MPC members following a strong
> inflation
> >number earlier this week.  It looks like the MPC is leaning towards another
> rate
> >hike.
> >
> >Keep an eye on sterling-mark as well as cable.  The trend is still up on both
> >daily's and weekly's with the monthly's showing a recovery from the recent
> >consolidation.
> >
> >Having said all that why did I get out of my sterling longs yesterday
> afternoon?
> >What a wimp I am...
> >
> >E.
> >
> >Earl Adamy wrote:
> >
> >> The pound has had an interesting rally during the past several days. Was
> ready
> >> to go long a couple of days ago, when I noticed that my volume indicators
> (OBV
> >> on daily and NetTickVolume on 30 min) are not confirming price. NetTickVolume
> (a
> >> running calc of up-down ticks from tick data) is generally highly reliable
> and
> >> its failure to confirm has me concerned. Even after Wed's spectacular rally,
> I'm
> >> still not seeing confirmation. Ditto for the Dmark although the divergence on
> >> the Pound is greatest. Only the yen is showing some confirmation and that
> >> confirmation is not terribly strong. Any ideas on what might be happening
> here.
> >>
> >> Earl Adamy
> >
> >
> >