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In a message dated 98-07-05 14:51:14 EDT, comfut@xxxxxxxxxxxxx writes:
<< This is what I believe is one of the cornerstones of successful
trading, especially the "shutting up ......in the way" >>
Tom:
I would agree to a certain point but the problem that I have with this
approach is that it is very subjective. Therefore, what you mean by "shutting
up and getting out of the way" is probably quite different from what Richard
means. Very tough to know what each of you mean and impossible to duplicate
it without extensive conversations with each trader. In fact, it is so
personal that you may not be able to describe it satisfactorily and even if
you could give us your deepest, darkest secrets in this area, it probably
would not have much of an effect on other traders.
The reason it would not be seen as the Holy Grail is that it is a logical
sequence on your ROAD to Discovery but I am not on the same road you are.
Therefore, the importance of certain elements in the approach may elude me.
Don't get me wrong, I would love to know what you & Richard mean by this. It
would be a fascinating psychological journey but I may not be able to use it
for trading unless my ROAD to Discovery crosses yours. If there is some way
to provide more objective details, then I would embrace it actively.
One last comment. I have found most traders mean one of the following when
they talk about this: (1) they go into some sort of meditation to get in tune
with the market (2) they avoid preconceived ideas of where the market is
going so that they can rely on the objective interpretation of their methods.
The last approach is the more common and to me it is the mark of a good trader
that keeps preconceived ideas OUT of the analysis until the market tells you
what it is likely to do. Then, when a definite decision is made, you act on
it by placing a trade.
Lynn
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