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PSYCH - Emotions
The one factor that would prevent 99% of the people
from obtaining anything
near those results is their emotions. If you obtain
even a very small amount
you would not risk it all trading to obtain much
greater profits. I have considered many times teaching
a monkey how to trade. I know he would make
more money than I do because he would not over ride my
signals because of his opinion of the market. If you
reduce your emotions in trading to as close to zero as
possible you can have a sub standard method/system and
do better than most everyone else. Stop looking for
the impossible and
spend your time and effort in reducing your emotions
and you will not be beholding to anyone.
Norman E.
Norman E.
kohath wrote:
>
> If there is in fact a system that is %80 / 1 on 1, and if that system
> traded once per week, the system should give a return of (0.8 * 1) - (0.2 *
> 1) = 0.8 - 0.2 = 0.6. This would be multiplied times 52 weeks, or 52 * 0.6
> = 31.2. Therefore, given the %80 probability of this system with a %60
> return, one could expect to gain, given 1 trade per week, with 1 years
> trading, placing $10,000 on each trade, 10,000 * 31.2 = $312,000. If one
> decided he wanted to own the universe in a few years, simply re-investing
> the profits in each trade would result in a balance at the end of 52 weeks
> of
> 10,000 * (1.6) ^52 = $411,376,139,330,300. Not bad for a years trading.
> That is 411 Trillion. I would submit if this system actually does exist, I
> would certainly like to look into it, to see if I would possibly be
> interested in using such a system.
>
> Kohath
>
> ----- Original Message -----
> From: Ira <ist@xxxxxx>
> To: <JCDuffy@xxxxxxx>
> Cc: <realtraders@xxxxxxxxxxxx>
> Sent: Tuesday, June 29, 1999 8:04 PM
> Subject: Re: Ira's trading method
>
> > Not with your smart mouth and smart a-- attitute. Only your ego will keep
> you
> > going.
> >
> > JCDuffy@xxxxxxx wrote:
> >
> > > Well, actually only since 1996 at 37, and really then only retired from
> > > trading for someone else. I sure wish I had a system 80% accurate and 1
> to 1
> > > though, I'd be passing that Bill Gates like he was standing still!!! How
> old
> > > are you in your ungodly wealthy retirement?
> > >
> > > In a message dated 99-06-29 20:37:21 EDT, ist@xxxxxx writes:
> > >
> > > << WEll I have been retired since 1985, what are you doing? Ira
> > >
> > > JCDuffy@xxxxxxx wrote:
> > >
> > > > In a message dated 99-06-29 10:45:09 EDT, ist@xxxxxx writes:
> > > >
> > > > << I didn't say it was mechanical. The system produces a series of
> > > targets,
> > > > the
> > > > first of which has an 80% probability, and a 1/1 risk reward ratio.
> The
> > > > second
> > > > target is a 2/1 risk reward ratio and has a 70% probability, and the
> third
> > > > target
> > > > has a 3/1 risk reward ratio and has a 60% probability. If you have
> > > doubts, I
> > > > can
> > > > give you e mails to traders who will verify the fact.
> > > >
> > > > Ira. >>
> > > >
> > > > Sorry, any doubts just would have stemmed from the fact that I just
> didn't
> > > > figure the Shiek of Brunei would be named Ira. Any method with these
> > > numbers
> > > > could turn a $10K account in multi milliions within 6 months with a
> very
> > > low
> > > > probability of ruin.
> > > >>
> >
> >
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