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You're welcome. I agree it is a never ending process. I'd set thecut-off point
between being a losing and a profitable trader, at the time when a trader is
fully aware he is the sole producer of his own results (ie outside
circumstances are no longer a factor) and has found ways that insure he is no
longer risking ruin, but working with a positive expectation.
Cheers,
Gwenn
BrentinUtahsDixie a écrit:
> Gwenn,
>
> Thanks for sharing your experience with us, I can't remember where but I
> read that Trader Vic went bust recently after many years of successful
> trading. Although I don't know the whole story(he could have decided to
> throw away his money for some other reason) it is likely that he fouled up
> some how. As you said there are times when you believe that you have
> finally arrived only to be slapped in the face with the hard realities of
> losing again. I'd imagine that some of us even may have a hidden need for
> self destruction, but most of us just allow our hopes to out weigh our
> reason.
>
> When still a novice I once made a trade in Live Cattle and it was a good
> one, I landed a quick $1500 on a couple of contracts, I was feeling so
> smart. A couple of days later I saw almost the same setup again in LC I
> jumped in again but this time it started to go against me but I was so sure
> I was right, every time I saw a move my way I thought ah now it's going to
> happen. I held on through the whole session and it ended up limit down
> against me. Hope. It kept me from seeing the forest for the trees. There is
> an old saying in business "never put good money after bad". It's true of
> trading too.
>
> Best Regards,
>
> Brent
> PS Buy Low, and Sell High. This is for those that need to have specific
> trading information discussed in every post to the forum.
>
> ----------
> > From: Gwenn Ael Gautier <Gw.Gautier@xxxxxxxxxx>
> > To: brente@xxxxxxxxxxxx
> > Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Subject: Re: Gen: Amount ot time required for success.
> > Date: Thursday, July 09, 1998 3:23 PM
> >
> > Hi Brent!
> >
> > Let's say about 12 years for me. Thing is: I understand fast, but I need
> to
> > get it reapeated often...
> >
> > Also, peculiar is that at various times you seem inevitably to believe
> you got
> > there, and then , invariably another lesson is brought to you by Market,
> Inc
> > (if not StupidMeAgain, Corp), so I suppose any number is OK.
> >
> > 1 - In my first 5 years, I knew mostly success with great market calls,
> > although tremendous leverage provoked temporary (huge) bankrupcy, but I
> was
> > not forced to close out positions and came out unscathed. So I thought,
> hey, I
> > am the best there is.
> > 2 - Next, I entered the Elliott sect, and became a big Elliott guru for
> the
> > following 3 years. Exceptional major market calls and yet a (second)
> bankrupcy
> > again, followed by major gains.
> > 3 - But this irregular pattern eventually destroyed my confidence in me
> and it
> > took professional help to put the pieces back together for about 2 years.
> > 4 - Finally I spent another 2 years finding a system I could trade, and
> > learning to apply it correctly with discipline.
> >
> > So this sums up to about 12 years only to become conscious of what I am
> doing,
> > why I am doing it, and how best to do it.
> >
> > 5 - But the journey is not over at this point. I'd say, this is where it
> > actually starts for real, for now every day is a day you can consciously
> and
> > effectively work on the improvement of your trading.
> >
> > Hope this helps,
> >
> > Gwenn
> >
> >
> > BrentinUtahsDixie a écrit:
> >
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