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Ulrich,
Although I agree with your thoughts about continually needing to learn and
adjust to the ever changing environment of the markets, I'm not so sure
about never considering ones self to be successful. I think that Gween had
a better concept of defining success that allows for some degree of
acknowledgment and self-esteem, without letting down ones guard. It goes
without saying that there must be some monetary evidence of success.
Learning to protect your capitol has to have a place in any definition of
success in my opinion.
In my mind the concept of a losing game is a good one so long as you
understand that it's just making the assumption that any position that you
enter into is going to be considered a loser until proven otherwise. When
proven otherwise it should be pursued as a winner until the market either
reaches your target, a trailing stop or mental limit.
An old friend once told me, "it's not money in the bank;" and I have always
considered it so.
Regards,
Brent
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> From: bullcom <bullcom@xxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: Gen: Amount ot time required for success.
> Date: Saturday, July 11, 1998 7:40 AM
>
> I followed this thread with interest, but never commented, because from
my point
> of attitude, I will never be really successful. Yeah, I´m making money,
but there
> is much more I can make better. Twice in my trading career I considered
myself
> successful and with this attitude prepared for the next major downdraws.
And when
> I say major I mean major.
> So if I learned something it is that trading is a never ending process of
trying
> to adjust for the ever changing enviroment, which means, I´ll be always
new to it.
> So how could I ever call myself successful. Knowing that, I am careful
and am
> pretty good prepared for the nasty things that might come. The greatest
trader I
> know considers trading a loosing game - and is making millions, tens of
it a year.
>
> We don´t have to talk about not-to-trade, if you consider it a loosing
game, its
> just a major difference in approaching the markets. You enter and are
used to
> success - what could happen and happened to me at least twice big time,
was that I
> accepted that the market will take care of my position as always and I
lost the
> sight of risk, planned what part of real estate to buy with the profits
and - huh-
> he were´s my account?
>
> The other side is, that the positions are an imminent danger to my
financial
> condition of yesterday and I am very careful about it. Sounds strange,
well, did
> to me, but works out to be a much more relaxing life.
>
> Good trading - Ulrich
>
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