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They may be valid points, but do yourselves a favor ... don't listen to Paul Forchione! (I speak from experience).
>>> "BrentinUtahsDixie" <brente@xxxxxxxxxxxx> 07/31 1:31 PM >>>
Michael,
Your point about taking care of the basics is a good one and to be ever
searching for the perfect system is mostly unprofitable.
Regarding secrets, this is one of those unprovable assumptions because if
someone had a secret and they told everyone then it would by definition no
longer be a secret would it. Of course there are secrets. The question is
whether there are any significant secrets or not. To illustrate lets say
that I were a very large trader and I'm planning to sell about 10000(or
more depending on the market) contracts of something but for a short period
of time I bid up prices by a small amount until there are new highs. Then
I dump that sizeable amount. You can't say that, that secret would not
impact the markets.
You are saying that you didn't mean that kind of secret(you didn't
specify). I can tell you this, if I happened across the true Holy Grail I
can promise you it would be a secret for a very long time.
Brent
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> From: Michael <comdytrd@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: FUT:Today's Bond Trade
> Date: Friday, July 31, 1998 3:50 AM
>
> Options - By Paul Forchione for July 31, 1998
> FNet Mentor http://www.futures.net/trading/full-bio-paul.html
>
> Do you know the best kept secret in the trading
> community? It's that THERE IS NO secret. Believing
> there are people who can regularly "outsmart" the market
> is a lie that reaches into every corner. Everyone's entitled
> to their guesses and opinions about what the markets are
> going to do, but these prognostications should be
> accepted for what they are -- guesses and opinions.
> Experienced traders operate under the premise that there
> is no substitute for risk control and money management.
> These are big subjects and indispensable elements of a
> well constructed trading plan. But that's like telling
> someone the key to health and longevity is eating a
> balanced diet and exercising. It's not "sexy" and it's
> obvious, so no one wants to hear it. Instead, everyone
> wants an esoteric explanation, a secret that "strikes their
> fancy" and that's known only by a select few. There's no
> changing human nature, but as traders we should strive to
> implement a trading plan with components that serve us
> well as opposed to searching for secrets that don't exist.
>
>
>
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