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On the subject of why the rich get richer and the middle class struggle
along, it is in their thinking that makes the difference. I have just read
an excellent book Rich dad, Poor Dad by Robert Kiyosaki. Anyone who wants an
inside look at how the rich do it can buy the book from Dr. Van Tharp's web
site at www.iitm.com. It will make a nice addition to ones library and a
great book to teach kids how to become rich at an early age. Happy trading.
-----Original Message-----
From: David Hunt <adest@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, January 19, 1999 8:33 AM
Subject: Re: Why are child Traders often more successful.
>Only just picked up on this thread.
>
>Most kids live in what Ray Barros describes as necessary for good trading
ie
>a "CareFree State". They have less fears and emotionally scary "what ifs"
>in their minds. I was a much better trader when I was 24 without Wife,
>Mortgage, kids etc, noise. I could go surfing, skiing, sleep whenever and
>with whomever i liked to blow off steam in general. Big difference at 38!!
>
>Kids play life as a game. They don't take it as seriously as us old dudes.
>This is why rich people get richer easier. Money making is just a game to
>them. For the average guy getting money is a "hard slog" and so they find
>hard ways of making a little bit of money!!
>
>My 4 year old is much better than I am at looking at a chart and saying its
>going up or down. He just follows the trend!! "Daddy! Why to you keep on
>selling? Can't you see its in an uptrend?
>
>Van Tharp and NLP Techniques call this a Meta Program that asks "What if I
>am wrong" at the point of Execution.
>
>Tharp says Sell the Signal and Remember how it made money for you last
time.
>If you see the signal and remember how it lost money last time that is when
>most people hesitate. Kids have usually not built up a history of what
>older people define as failures. Kids try things and treat them (ie
>failures) as learning experiences. So if this kid (how old is he?) was
>trading he would have a better chance of making dollars with any almost
>method than most experienced traders.
>
>David Hunt
>http://www.adest.com.au
>
>-----Original Message-----
>From: RAY RAFFURTY <rraff@xxxxxxxxxxx>
>To: brente@xxxxxxxxxxxx <brente@xxxxxxxxxxxx>; RealTraders Discussion Group
><realtraders@xxxxxxxxxxxxxx>
>Date: Monday, January 18, 1999 1:06 PM
>Subject: Re: Why are child Traders often more successful.
>
>
>> Hi Brent,
>>
>> Having just returned from a few days skiing in NH, I read all of
>the
>>posts relating to jawad's trading at one siting. I found it interesting
>>that some people immediately encouraged and congratulated him, while
others
>>offered doubts and disparagement. Your comments where the only ones
>>offering something we all could learn from. Congratulation on the
>excellent
>>left brain thinking.
>>
>> Good luck and good trading,
>> Ray Raffurty
>>
>>-----Original Message-----
>>From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
>>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>Date: Sunday, January 17, 1999 1:49 PM
>>Subject: Gen: Why are child Traders often more successful.
>>
>>
>>>RT's,
>>>
>>>I was thinking about this and it occurred to me that there is a small
>>lesson
>>>to be learned here.
>>>You take a child and he has never carried the burden of providing for a
>>>family, of real responsibilities. For this example we will say that this
>>>child is not trading money that he earned from doing real work and that
>the
>>>money is not his to lose.
>>>
>>>You take the pressure out of the trading equation and presto it's a
>>>different world. Your wife doesn't divorce you if you lose your rear, and
>>>the bank doesn't take your house away etc., etc. I saw a program not too
>>>long ago where they tested people's response to taking a test under
>>>different degrees of pressure or stress. BIG DIFFERENCE. The stressed
>group
>>>preformed much worse then the group that was unstressed.
>>>
>>>Also kids may not complicate the effort the same as an adult and are just
>>>playing it the same as they would any computer game.
>>>
>>>Whether we like it or not to be successful we need to find ways to deal
>>with
>>>this stress. To be in control of our emotions if you will. Controlling
our
>>>trading situation is in my opinion the first step towards this. Things
>such
>>>as not over trading, using stops, being prepared, being educated . You
get
>>>the idea.
>>>
>>>Brent
>>>
>>
>>
>
>
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