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This one was from William Eng - the guy that wrote some books.
> Subject: My two cents ...
> Date: Sun, 07 Jun 98 10:09:11
> From: williameng@xxxxxxxxxxxxxxx
> Organization: [ Internet Email: $30/Year! Call 708-795-4442 ]
> Newsgroups: misc.invest.futures
>
> I was checking out the messages on this interest group and read a bunch of
> stuff. I'm sorry, I'm somewhat addicted to reading gossipy e-mail. I'm amused
> at all the going-ons about account trading statements, etc., and where the holy
> grail CAN be found for the trading world.
> *
> 1. I did a stint as a retail broker many years ago when I got tired of trading
> at the MidAmerica. Oh, I think this was around 1976, maybe 1978. I can't
> remember despite the fact that I've started popping the Gingko Biloba pills.
> Well, I had a lead who was interested in trading commodities but he didn't
> think I was any good as a trader. Well, since my background was as a trader, I
> had helped some clients become very successful. I took one client from $5000 to
> over $17,000 in about two months; we got long gold and and Swiss francs, I
> remember, and the account mushroomed. After securing permission from this
> account to make copies of his statement, minus his account number and name, so
> I could mail it to my prospect, the account made even more money with the
> positions we had on. I mailed the copies to the prospect. The prospect looked
> at them and told me that he thought I had doctored the account statements ...
> END OF STORY. With the experience of doing retail, I went back to trade after
> doing six months of this. (In the near future I will be setting up a retail
> stock brokerage operation, but this will be based on other goals I wish to
> attain at this time. I've found I like to create and businesses is one thing I
> like to create.)
> *
> 2. The HOLY GRAIL can be found in vendorland. With your own permission, it MAY
> be found. Now, what does this mean? Well, your own personal path on successful
> trading is ... well, your OWN PERSONAL PATH. No matter what I say, what your
> read, what you hear, you will NEVER incorporate the ideas, the experiences, the
> concepts, unless YOU FEEL COMFORTABLE WITH THEM! I've created methods and
> mechanical strategies that have made me money but when I've tried to teach them
> to others, they come back to tell me that they can't make money with them. Why?
> The methods are not flawed; the trader is not flawed. It's the mixing of the
> methods and the trader that is problematic. Now, what does "the HOLY GRAIL can
> be found in vendorland" really mean? Is there truth out there? Is there a
> successful strategy? Yes, but only after you have discovered that the methods
> and strategies taught and sold by the vendors make money for the vendors, but
> NOT you. Why, because only you can make money for yourself. YOU MUST
> INCORPORATE THE IDEAS AND STRATEGIES INTO YOUR OWN PERSONAL TRADING PARADIGM in
> order to be a successful trader. Why? Because it is your own personal success
> and not the success of the vendors or the teachers. I wrote about it by saying
> that I came to be a really successful trader only afte I realized that I had to
> pay vendors and teachers to find out that I already knew more than they knew.
> Once I created that conundrum, I realized that I already knew how to trade
> successfully, but had never practiced it. Get it? The path to successful
> trading is a default path created by eliminating other paths, eliminating other
> options.
> *
> 3. Now, you can see why I like to read these user's groups. I read all these
> comments and see all participants at different stages of successful trading
> development. Some are advanced and those are the ones we like to emulate and
> promote. Some are slow, and even though we don't want to emulate them, we allow
> them to create their own default paths. The last thing we want to do is to
> cause them to remove a likely path, wrong as it might be, because they read
> that so and so didn't know what they claimed to say. By doing so, we have done
> these students a disservice by eliminating a source of market knowledge
> experience. (This begs the questions of can one accelerate one's learning of
> successful trading by eliminating wrong paths through just vicarious experience
> instead of actual experience? Another discussion for another time ...)
> *
> Well, I've got to go. My son is here and I would like to spend some time with him ...
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