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<DIV><FONT size=2>Group:</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>I think in a word; yes--it's called a mentor. That's
cutting to the chase of the</FONT></DIV>
<DIV><FONT size=2>issue. This can best be explained by the series of
problems encountered</FONT></DIV>
<DIV><FONT size=2>on the other more common learning paths. Here is a
collection of ideas from</FONT></DIV>
<DIV><FONT size=2>recent posts on the subject; among which there seems to be
this common</FONT></DIV>
<DIV><FONT size=2>thread of problems that need to be solved before daytrading
success is</FONT></DIV>
<DIV><FONT size=2>achieved.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>"Money management, trend identification, and a good
emotional framework</FONT></DIV>
<DIV><FONT size=2>are the only ingredients to successful S&P trading and yet
it is so difficult."</FONT></DIV>
<DIV><FONT size=2>.......Peter M. Beckwith (commenting on LBR's trading
consistency)</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>"Each individual needs to find that which will work for
them and then develop</FONT></DIV>
<DIV><FONT size=2>or put together a simple, concise plan of attack. All
the information is out</FONT></DIV>
<DIV><FONT size=2>there. You don't have to reinvent the wheel, but you do
have to do the work."</FONT></DIV>
<DIV><FONT size=2>.......Ira (commenting on the 97% losers/3%
winners)</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>"What beginners don't know is that trading is an art that
must be tailored to</FONT></DIV>
<DIV><FONT size=2>one's own personality. It takes years for us to learn
this fact experientially.</FONT></DIV>
<DIV><FONT size=2>Bil's technique nor Bob's technique will fit anyone perfectly
except for Bill</FONT></DIV>
<DIV><FONT size=2>and Bob. No one's technique will fit us perfectly.
It's their art, and we have to</FONT></DIV>
<DIV><FONT size=2>develop our own....the real question is how our learning from
them can aid our</FONT></DIV>
<DIV><FONT size=2>development, not whether their methods fit us like a
glove.".......Steve</FONT></DIV>
<DIV><FONT size=2>(commenting on traders/vendors Bill and Bob)</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>"What if the 'real' tools to worry about are psychology,
money management and</FONT></DIV>
<DIV><FONT size=2>a bagful of tricks in trade execution?" The method almost
doesn't matter, be-</FONT></DIV>
<DIV><FONT size=2>cause</FONT><FONT size=2> the big three can augment the bottom
line far more than any tweeking</FONT></DIV>
<DIV><FONT size=2>of the method. I guess the fact that some traders
consistently win is the best</FONT></DIV>
<DIV><FONT size=2>proof it's not random. But then again, if you credit the
points I made above, </FONT></DIV>
<DIV><FONT size=2>maybe they just know how to control themselves enough to make
money </FONT></DIV>
<DIV><FONT size=2>with random events.".......(anonymous on
LBR)</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>"I've spoken to several people who sat with Ned during a
trading day and</FONT></DIV>
<DIV><FONT size=2>watched him trade, live, with real money. They all said
the guy is an absolute</FONT></DIV>
<DIV><FONT size=2>wizard. He really DOES hit 80% or so winners.......The
killer: I don't know</FONT></DIV>
<DIV><FONT size=2>of anyone who's trading Ned's method profitable, other than
Ned. I've spoken</FONT></DIV>
<DIV><FONT size=2>to 4 or 5 of his students, and all of them love the method but
can't make it</FONT></DIV>
<DIV><FONT size=2>work.....he does not seem able to convey his trading ability
to his students.</FONT></DIV>
<DIV><FONT size=2>.....I think Ned has hundreds of 'rules' in his head that he
applies subconsciously</FONT></DIV>
<DIV><FONT size=2>to filter out trades.....None of the people I talked to could
make it work."</FONT></DIV>
<DIV><FONT size=2>......Gary (on Ned Gandevani)</FONT></DIV>
<DIV><FONT size=2></FONT><FONT color=#000000
size=2>___________________________________________________________________</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>DISCUSSION:</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Is there an easier--not easy--but easier and faster track
besides spending (squandering)</FONT></DIV>
<DIV><FONT size=2>thousands on seminars, systems, software, and courses that we
buy for the purpose</FONT></DIV>
<DIV><FONT size=2>of attaining the goal of daytrading success? For
example, I know of an individual who</FONT></DIV>
<DIV><FONT size=2>went to Van Tharp's "How To Develop A Winning Trading
System That Fits You"</FONT></DIV>
<DIV><FONT size=2>workshop. He let me review the materials and had I paid
money I would have been very</FONT></DIV>
<DIV><FONT size=2>disappointed. From what I could tell it was merely a
compilation of information no</FONT></DIV>
<DIV><FONT size=2>different that what one could obtain from numerous
books. After we spend thousands</FONT></DIV>
<DIV><FONT size=2>of dollars the bottom line is that we don't use any of the
stuff that was supposed to</FONT></DIV>
<DIV><FONT size=2>help us. Oh, yes, how many thousands more do we than
have to lose before learning</FONT></DIV>
<DIV><FONT size=2>simple lessons the hard way? I began this subject saying
that the answer was a mentor</FONT></DIV>
<DIV><FONT size=2>and I think this route lends itself to successful negotiation
of the myriad of problems on</FONT></DIV>
<DIV><FONT size=2>one's path. I don't think it can be denied that a great
many of the successful traders</FONT></DIV>
<DIV><FONT size=2>did have mentors. Yes for them it was perhaps not easy
but certainly easier than for</FONT></DIV>
<DIV><FONT size=2>those of us who don't know what we are getting ourselves into
when we start from scratch.</FONT></DIV>
<DIV><FONT size=2>I have two questions before welcoming any comments from the
group. How do some of</FONT></DIV>
<DIV><FONT size=2>the daytraders maintain such a high win percentage in the face
of market lore which tells</FONT></DIV>
<DIV><FONT size=2>us that short term market movements are randon--it must be
because of proprietary and</FONT></DIV>
<DIV><FONT size=2>cusomized indicators they have discovered that actually
work? And for those of us who</FONT></DIV>
<DIV><FONT size=2>do not hae access to a mentor, is there an 'easier' path to
finding a successful method-</FONT></DIV>
<DIV><FONT size=2>ology that will suit each of us? Perhaps the ultimate
answer is that the only individual</FONT></DIV>
<DIV><FONT size=2>who can truly help us is ourselves? </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Thank you for your time and attention.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Charles</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV> </DIV>
<DIV><FONT size=2></FONT> </DIV></BODY></HTML>
</x-html>From ???@??? Thu Mar 18 11:39:36 1999
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Date: Thu, 18 Mar 1999 14:05:28 -0500
Reply-To: jfh37@xxxxxxxxxxxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: "Jack Higgins" <jfh37@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Intraday T-Bonds with Indicators
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Brent and all,
I am not familiar with the Alternating Swing indicator , do you have any
recommedations on where I can read up on it.
Thanks,
Jack
-----Original Message-----
From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, March 17, 1999 4:41 PM
Subject: Fut: Intraday T-Bonds with Indicators
>RT's
>
>I thought I'd send along a example of an Intra-day T-Bond (US9M) chart with
>a Displaced Moving Average (DMA) and the ADX on it showing how some
>Indicators could be used to day trade Bonds. As you can see each time the
>price crosses above the DMA and the ADX is (or just has been) increasing
you
>buy. The white Regression line indicates the trend. You want to start
>looking for the cross over after the Alternating Swing (set strength for 6
>days on these 4 min bars). The red and blue lines on the ADX are Regression
>Lines based on it to help you see that the trend is on going. If the price
>starts to move back to the Regression line or has a pivot you watch to get
>out.
>
>Yes this is after the fact hindsight but the point here is that it can be
>used real time if you have the Day Traders Psyche.
>
>Maybe you don't need this kind of help, you can just see it all from the
>price. (You don't need field glasses to see the ball game either.)
>
>Brent
>
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