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Hi Tom
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> My question is........ In regards to trading, does one have to
> experience the most valuable of lessons or can one read about them?
> Can you learn the lesson without first experiencing?
My view is you can't learn from these mistakes without experiencing
them. All the reading in the world does not seem to make much
difference without the experience.
What I have found useful is for someone to explain what lesson
I have learnt once I have had the experience! Sometimes that is
not so clear - especially when I first started trading.
e.g.
Recently I sold the A$ at 6380 then exited the position as it didn't look
right.
Well, the A$ did go to 6459 and closed at 6421. The next day the mkt
collapsed to 6316.
Now what lesson should learn from this?
* that I shouldn't exit positions early?
* that I shouldn't place stops or place "stops" that are
"too" tight?
* that I could have re-entered?
I think this where "reading" can be useful. The trader has
the experience and extracts the lessons from the experience
by "reading" etc.
regards
ray
R Barros
101/25 Market Street
Sydney NSW 2000
Australia
Voice: 61 2 92673470
Fax: 61 2 92673478
E-Mail: rbarros@xxxxxxxxxxxxxxxxxx
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