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Hype for Marketplayer .com
-----Original Message-----
From: Dick Webb <dickwebb711@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, March 18, 1999 3:02 PM
Subject: Path to success
>(I have about 20 years experience with futures)
>
>For the past 3 years I have been in contact with PH D's that take
>products from ideas to the sales floor. What is interesting to me is
>the process and how it relates to what we do as traders. We buy or
>develop a system or method. Then we go test it out (if possible) at
>that time there is often the idea that historical testing on trade
>station is all that is needed....but knowing what I know about drug
>testing and development I suggest that there is more to this than that.
>
>Did you know that there is a drug that has been shown to have variable
>degrees of effectiveness for treating anything. This substance has
>been tested more than 80% of ALL the drugs out there combined. The
>drug has no side effects and is cheaper than an aspirin. I would sell
>it but the FDA won't let me. ...The name begins with a P and ends
>with and o and works because of belief...
>
>Any way how this relates to us is that many traders do not take the
>new system/method/drug ...oops strike drug... through a complete
>test... they just implement. We give it to a broker with a few
>thousand dollars and the broker doesn't die so it must be ok...if it
>doesn't work out we can rationalize it somehow.
>
>Last year I did this with stocks for a while...only lost a grand or
>two. Then made a fortune the rest of the year ....trading based upon a
>solid technique that tells me which way the market is going. ...I made
>a lot of dough in sept-oct and went long oct 9. ...you know the rest
>of the story....just look at the SnP.
>
>This year as I was entering all those losing stock trades for taxes i
>lived through the pain again. I decided to prevent that as best i
>could. I opened an account at marketplayer.com and have been trading
>stocks there..... Ok so i can't make a real nickel there but i can
>develop the habits necessary to be a successful stock trader and that
>is more important than taking risking 5-10k and trying again in stocks.
>
>The result so far has been wonderful I have successfully gone through
>the "stuff" that real money managers need to go through...Setting up
>and utilizing money management....this is so easy you wouldn't believe
>it.
>
>Also I'm dealing with the emotional stuff of being bored with it. You
>see trading is more interesting when your balance is going up....My
>results stood at +3% profits for 2 weeks..the 3rd and 4th week..... A
>friend reminded me that so far I was on track. Since i only used part
>of my equity most of the time I was on track to making 60% to 120% a
>year....in a very diversified portfolio. Also there is the temptation
>to change the system along the way....I find myself looking at the
>losers and saying what did they have in common so that I can eliminate
>it or visa versa. ...Any way as we speak the marketplayer account is
>up over 5% in a little over 5 weeks in a 20 stock portfolio. Now my
>next area is to do a simulated account in futures.....Why??? I have 20
>years trading experience and need an environment where I will develop
>better habits.
>
>One of them is my relationship to my broker. When ever I have five or
>more winning trades in a row he talks about how his customers loose
>money....He'll bend over backwards for me but he is part of the
>dis-functional environment. ...Here I go with the simulated account.
>I am going to use the one at futures for $10 a month and $2 a round
>turn I can do it real easy. Then i have found that there are firms
>that use the same computerized interface to trade with that have
>reasonable rates.
>
>
>If you have some ideas you can give me to support my success please
>let me know...
>
>What is my system?????...pattern based ...it gets about
>4 trades a year per market traded. I can trade about 25 markets with
>it ...4 trades per year.. Average trade lasts 3 weeks. ...Money
>management here is important I am looking at a 100K theoretical
>account that probably needs use up to 30K in margin at a time.
>
>My exits on trades is different from what i have used in the past. I
>use a cyclical feature that says if profitable exit not made by a
>certian date .. stay in till the next date (if loss is not taken). The
>advantage of this model is phychological. If i look at a chart and say
>to myself it goes up here get out there is uncertainty as to whether
>or not it will make it to that price. However it will always make it
>to my stop loss or profit date. (oh yes i do have an exit for quick
>high profits)
>
>If you have any ideas that may support my road to success please share.
>==
>Big Lucky Dick
>
>_________________________________________________________
>DO YOU YAHOO!?
>Get your free @yahoo.com address at http://mail.yahoo.com
>
>
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