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Peter,
Thanks for the reply. Sounds like you are getting the idea. I would add that
I am continuously on the lookout for ideas that can improve my trading. That
doesn't mean that I am searching for that one big perfect system. I read a
few books, articles, and this forum partly for that very reason. Being
closed minded to new ideas is a bad idea and a boreing way to live.
Brent
-----Original Message-----
From: Peter M. Beckwith <capstone@xxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, April 10, 1999 3:42 PM
Subject: Re: Making $$$ from Trading
>
>Brent:
>
>Your analogy to sports is right on. Also, when you say, "you can lead a
>horse to water, but you can't make him drink..." is also correct. I
believe
>Richard Dennis said in NMW that he could post the exact entry and exits
that
>he would take the next day in a newspaper and many people would still lose
>money. Another interesting thing that I have noticed is just how well many
>traders do in hypothetical trading contests and yet in their own trading,
>many of them lose their shirt. All of this should tell us something about
>trading, that really it is a game that is played between the ears. The
>system that a trader adopts is only good if it meshes with his/her
>personality and with his/her "belief system". If you take one trader who
>only likes spreads or straddle trading and tell him to be a breakout
futures
>trader, he might lose everytime and vice versa. I really think that this
is
>only something that you can come to understand after you have been at it
for
>awhile anyway.
>
>I will tell you one thing that I have promised myself recently. I told
>myself that I was done reading any books on trading, finito. I know now
>after being at it for a decent amount of time that I have all of the tools
>to really hit the big level, but I don't want to screw it up by trying to
>predict the future or catch tops and bottoms, which is what the majority of
>trading literature tries to accomplish. More than anything, it is a
>confidence issue and a trade management issue once you have been at it long
>enough. Enough said....
>
>Regards
>
>Pete Beckwith
>
>
>
>-----Original Message-----
>From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Saturday, April 10, 1999 11:37 AM
>Subject: Re: Making $$$ from Trading
>
>
>>Humphrey et al,
>>
>>You've seen a ton of advise here and there about trading. Very little can
>ge
>>added to it and when an experienced trader begins to explain what it is
>that
>>works, it begins to sound like the doctrine of an eastern religion or a
>>psychology book.
>>
>>The reality of trading is that there is nothing easy about it. The
inherent
>>balance of being told to CONTROL YOUR RISK and understanding at the same
>>time that THE GREATER THE RISK THE GREATER THE REWARD should immediately
>>tell you that you've got a problem. The person that risks large and wins
>>large gets into the headlines of some publication. They don't bother to
>list
>>the thousands that went down in flames. Luck DOES play a small part in
>>trading.
>>
>>How many would be football players don't become pros, or any other sport
>for
>>that mater. Trading is very much like that.
>>
>>Over the course of my being associated with the forum I have seen
excellent
>>trading concepts presented in full, no secrets. You can lead a horse to
>>water but you can't make him drink. It's also true with traders.
>>
>>Don't feel bad about the amount of time you spent. Many have spent more
>than
>>10 times as much without success. There is no one answer, there are many
>>holy grails. Most people are better off putting their money in a bank or
>>another extemely low risk investment. Quit or go on, think carefully about
>>it.
>>
>>
>>Brent
>>
>>
>>-----Original Message-----
>>From: Humphrey D Geiseb <okombahe@xxxxxxxxx>
>>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>Date: Friday, April 09, 1999 1:44 PM
>>Subject: Making $$$ from Trading
>>
>>
>>>having lived in RT land for over one year. I am
>>>wondering whether I am trading as a hobby or making
>>>ends meet with this thang
>>
>
>
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