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RT's,
With this persons implied permission I thought I’d send this to the forum
as I know that others can benefit. I have tried to remove any personal
information that would indicate who sent it.
One thought guys/gals, I’m one of those odd ducks that has never married. I
wish I had a GOOD marriage relationship with the female kind. If you have
one of those GOOD relationships don’t screw it up. It will take a ton of
money and success to make up for the pain and regrets. Nuf said.
Brent
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Greetings Brent:
This is really a great topic for EVERYONE. I will also use Richard's
format to depict my life as a trader. Hope this helps other to see
trading is an extremely serious endeavor. For this topic, I would like
to remain anonymous but feel free to quote anything to RTs.
'86-87
Freshly graduated from the University and felt like I was readied to
conquer the world of finance. After spending more than 10 years of my
life in ____________________. Reluctantly, I finally came back to
my 'home'. By the summer of '87, I had landed a job as a _________
____________ to take orders for the clients. Most of them trade US
commodities futures, bonds, S&P and the others. I was a 100%
fundamentalist: The school taught me P/E, Efficient Frontier Models and
had total faith on what I was taught. I was also first introduced to
the world of technical analysis. Back then, no one was really into this
technical analysis stuff in __________. I still remember vividly that
the boys in the office were so crazy about the newly released text by
John Murphy. Elliott Wave was as big as God and Robert Prechter was
even bigger than God! I had no money. So I just photocopied the whole
text of Murphy. I didn't really spent much time on the text, didn't know
the difference between a channel from a wedge! Started to buy local
shares from information from fund managers. I was lucky, I made money
on most of the trades before the crash of '87.
'88-'96
I switched job and spent these eight years as __________________.
Absolutely no skill was required as a __________. All one needs is
speed and accuracy in execution of bank dealers' orders. I thought I
knew about trading very well already (without realizing the fact that
most of the bank dealers were just as bad as myself). I started to
trade the cash markets but, of course, got blew away. I was loud-mouth
and cocky and 'tough'. But the market spotted me as another guy that
needed to be tamed. It blew me away for good. I lived in agony and at
the same time, I yearned for knowledge. I got married in '93. All this
happening at the same time made my life even harder. But at the same
time, I was also DETERMINED to be a knowledgeable trader. I was lucky
enough to have my friend who took the time and patience to show me the
right path to be a trader. He forced me to read the entire text of John
Murphy, he asked me questions from time to time, he forced me to read
and interpret more than 30 charts every weekend, he shown me videos of
traders how to trade the market, and video of Tudor Jones. Finally, I
got the chance to really trade the markets, I got blew away again. Just
like Richard, all my trading systems are just canned stuffs. I was
frustrated and angry and asked what was wrong! My mentor simply just
told me that, unfortunately, losing is just one of the steps everyone
has to go through before even thinking of winning. He specifically
said, "If you know WHY you're losing, then you're ready to the road of
success". Back then, I only care about my dwindling trading account:
"What the hell is he talking about?".....I thought about his statement
a lot and now I know WHY. I would say my 'story as a trader' took about
five years. Now, I am comfortable with the markets. If I don't
understand, I don't trade. If my system generates mixed signal, I knew
its corrective phase and stay out. I have developed the patience to
wait for the 'perfect' trading setup. Personality wise, I'm patient,
reserved, humble, willing to give. Thanks to the market(s), my mentor,
and the mentors on RTs. However, my marriage has been really affected
by my determination to be a trader. I was too disciplined and too
involved for my wife to handle. I guess this is an unwritten law of
nature: What's gain in one respect is another loss in another aspect.
Regards.
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