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Bravo Brent, A nice balanced look at market
concepts.....Daniel
BrentinUtahsDixie wrote:
> Harry et al,
>
> Do you like what this guy is saying? I sure don't want to receive his
> Samurai digest.
>
> This kind of reasoning would imply that you can trade the markets by
> flipping a coin or throwing darts. The old dogma about the markets always
> being right is a fallacy that is repeated over and over until all newbies
> believe it. I submit that the market is often wrong. The fact that there
> are ranges, gaps, volatility and crashes in the markets along with the
> concept of a market being overbought or oversold implys that the markets
> are often wrong. However the price once established is what it is. I think
> that the 2 concepts get confused, in other words yesterday the Dow closed
> at 7784 that is an established fact and is "right" but collective
> judgement, greed, and fear can cause a 1987 style crash which would imply
> that the market price was over inflated. If it weren't for the error in the
> market there wouldn't be opportunities(inefficiencies) to take advantage
> of.
>
> Also all geniuses may not be successful traders but to imply that
> intelligence is a drawback must imply that all great traders are morons.
> Anyone that understands the value of assets and their worth in hard earning
> has a conflict within when trading, for example paper trading is oft times
> successful because you are risking nothing but when something of real value
> is at stake, fear and greed cause you to make errors. Great traders learn
> to not lose any appreciable amount of their capitol and how to press their
> advantage when it counts. Does that take brains, well IMHO it takes some.
>
> Brent
>
> ----------
> > From: H&M Feld <ariel@xxxxxxxx>
> > To: realtraders@xxxxxxxxxxxxxx
> > Subject: [Fwd: Samurai Trader's Email Digest Issue # 13 October 3,
> 1998]
> > Date: Saturday, October 03, 1998 5:52 AM
> >
> > Rt's
> > Just thought I'd post this to the list. This guy has a lot of good
> > things to say about what goes on between our ears! Harry
> >
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