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Hi Gary,
I like the philosophy that if you stick to your system, you have no winners
or losers... only up trades and down trades. So then if you have too many
down trades, your system sucks. That might seem like over-simplification,
but it helps narrows your focus in the chaos and confusion brought on by the
"demons".
Best wishes,
Linda
Swope's Mountain Photography
http://www.swopephoto.com
linda@xxxxxxxxxxxxxx
Climb the mountains & get their glad tidings: Peace will flow into you as
sunshine into flower; the winds will blow their freshness into you & storms
their energy, & cares will drop off you like autumn leaves. John Muir 1838 -
1914
-----Original Message-----
From: gary gray <ggray@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, February 26, 1999 1:25 PM
Subject: Re: Trading Demons
>Hi Gary!
>
>The last time I did this I got slammed by the public..but here goes!!!
>
>If you re read your post you will find words like "winning days",
>"streak", and "cannot win". OK that's
>fine.. but it IS GAMBLING terminology. If not consciously then
>certainly it's coming up from your sub-conscious. Fine again... Mainly
>because equity and commodity trading is a ZERO sum game. If you are
>willing to put up 5 or 10 thousand dollars in the hope of "winning" X
>dollars per week, month or whatever, just understand the money you are
>"winning" is coming out of the pocket of someone (a friend, we are
>friends aren't we??)so..... Here's the part I get slammed for!!
>
>PERSONALITY ATTRIBUTES: If you are walking down the street and someone
>drops a wallet...
>
>a) you take the $$ and put the wallet in a mailbox.
>
>You have the "It's mine now and I can use it" "It was meant to be"
>Fine... You are mentally willing to accept something spontaneously for
>nothing.
>
>b) you tap the person on the shoulder and give them the wallet back.
>you wouldn't think of keeping "something that isn't yours"....
>Hmmmmmm... am I pinching any nerves???
>
>
>c) You are at the race track and someone drops a ticket
>when they leave the teller.
>You could have the ticket cancelled and get the money
>(it is a bearer instrument and belongs to the holder).
>You could assume the bettor knows his stuff and keep the ticket to see
>if it's payday!!
>You could give the ticket back.
>
>Why give it back? They are gambling too and know they may lose...
>It's yours now. Right? How do you answer?
>
>Do some soul searching.. This dialog may seem silly or pointless but
>there is much to it.
>
>BTW: When you are "paper trading" how do you know the
>broker(s) aren't going down?
>
>A trade is a trade. Confidence is irrelevant. Don't take more than a
>point or two loss and keep a trailing
>stop to maximize profits. If you obsess about profit/loss don't take
>'em to bed with you (daytrade only).
>
>Best wishes...
>
>
>
>
>---Gary Kramer <gmkramer@xxxxxxxxxxxx> wrote:
>>
>> Help! The trading demons are out to get me! I am in a terrible
>rut! Everthing that could go wrong has. I havent had a winning day
>in weeks. When I have gotten into a bad streak, I papertrade, I read
>Van Tharps stuff, I follow all of the Psychological crap out there to
>get my confidence back, then when I go to place the first trade,
>following my rules, I get a loser. No big deal, confidence is still
>up so I wait for the next setup, take the trade, and of a course a
>loser so I dont take the next trade which is the winner. The next one
>I take is another loser. Or just when I get into a trade, my ISP goes
>down or my computer locks up. This never happens when I papertrade!
>Or today, I decided i would trade the mini SPOO to get my confidence
>back and PMBe is having problems so I missed 3 trades and had a winner
>turn into a loser! I have tried 4 different brokerage firms and
>obviously that is not the problem. I have been doing this full time
>for seven months and am negative big time!
>>
>> What should I do? I unfortunately have done the incorrect thing
>and jumped to another system or approach when one failed, looking for
>the Holy Grail. I know its not there but I have this glimmer of hope
>that it is. My system now is very simple and relies on "reading" 2
>minute candlesticks and looking for reversal patterns and support and
>resistance points. I use Stochastics as a basis to assess divergence.
> Pretty simple stuff yet I cannot win.
>>
>> Please Help!
>>
>>
>>
>> Gary Kramer
>>
>>
><HR>
><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
><HTML>
><HEAD>
>
><META content=text/html;charset=iso-8859-1 http-equiv=Content-Type>
><META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
></HEAD>
><BODY bgColor=#ffffff>
><DIV><EM><FONT color=#000000 size=2>Help! The trading demons are out
>to
>get me! I am in a terrible rut! Everthing that could go wrong
>has. I havent had a winning day in weeks. When I have gotten into a
>bad streak, I papertrade, I read Van Tharps stuff, I follow all of the
>Psychological crap out there to get my confidence back, then when I go
>to place
>the first trade, following my rules, I get a loser. No big deal,
>confidence is still up so I wait for the next setup, take the trade,
>and of a
>course a loser so I dont take the next trade which is the winner. The
>next
>one I take is another loser. Or just when I get into a trade, my ISP
>goes
>down or my computer locks up. This never happens when I papertrade!
>Or today, I decided i would trade the mini SPOO to get my confidence
>back and
>PMBe is having problems so I missed 3 trades and had a winner turn
>into a
>loser! I have tried 4 different brokerage firms and obviously that is
>not
>the problem. I have been doing this full time for seven months and am
>negative big time! </FONT></EM></DIV>
><DIV><EM><FONT color=#000000 size=2></FONT></EM> </DIV>
><DIV><EM><FONT size=2>What should I do? I unfortunately have done
>the incorrect thing and jumped to another system or approach when one
>failed,
>looking for the Holy Grail. I know its not there but I have this
>glimmer
>of hope that it is. My system now is very simple and relies on
>"reading" 2 minute candlesticks and looking for reversal patterns and
>support and resistance points. I use Stochastics as a basis to assess
>divergence. Pretty simple stuff yet I cannot win.</FONT></EM></DIV>
><DIV><EM><FONT size=2></FONT></EM> </DIV>
><DIV><EM><FONT size=2>Please Help!</FONT></EM></DIV>
><DIV><EM><FONT color=#000000 size=2></FONT></EM> </DIV>
><DIV><EM><FONT color=#000000 size=2></FONT></EM> </DIV>
><DIV><EM><FONT color=#000000 size=2><BR>Gary
>Kramer<BR></FONT></EM></DIV></BODY></HTML>
>
>
>==
>Regards,
>
>Gary
>
>The Best Global Telecom Price$
>Guaranteed...
>http://LD.net/?garywgray
>_________________________________________________________
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