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<DIV><FONT size=2>Great lessons!</FONT></DIV>
<DIV><FONT size=2>Is your friend offering anything of his learnings for others
in any form?Dave</FONT></DIV>
<DIV> </DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
gposnak </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>0Real Traders</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Sunday, January 09, 2000 2:05
PM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> change of heart</DIV>
<DIV><BR></DIV>
<DIV>
<DIV><FONT color=#000000 size=2>A friend of mine made $300,000 this year. He
has been a breakeven trader for the past decade. What is the reason for the
change? He finally came to accept the fact that <STRONG><U>for him
</U></STRONG>the daily market fluctuations were essentially a random walk.
Starting with that premise he came up with a system based on a leading
indicator and backed it with 100% margin on his $500,000 account. He was in
the market only 20% of the time trading the short term swings of 2 to 4 days
(He uses a 1 day stop). What is astonishing is that he had only 1
small losing trade out of 15. What is the main reason for his
success? I think that central to the turnaround is the <STRONG><U>change
in attitude </U></STRONG>from thinking that he could forecast to humbling
admitting that he could not. Once the faulty premise that he could forecast
what a million traders would do was expunged from his mind, he could then
focus on a game plan that might exploit a market inefficiency or setup or
leading indicator. He realizes that the NASDAQ was up 80% last year and
because he trades mutual funds, he must be primarily long, but he maintains
that even in a bear market there will be rallies and so long as the sun moves
from New York to Chicago to Los Angeles he will be able to make $.
</FONT></DIV>
<DIV><FONT color=#000000 size=2>For an example read Marty Schwartz'
<STRONG><U>Pitbull</U></STRONG></FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#000000
size=2>George</FONT></DIV></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Mon Jan 10 10:10:20 2000
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Date: Mon, 10 Jan 2000 07:07:54 EST
Subject: [RT] dxho crf0 s f0 clg0(futures get rich)
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Status:
Good Morning
dxho is falling sell short@xxxxxx add to position on a close under
99.70
the 50 day m/a@xxxxxx stop loss 101.70
crb index
crfo sell@xxx stop@xxxxxx
50 day@xxx and 200 day m/a@xxx
the 50 hours m/a@xxxxxx and 200 houres@xxxxxx
soybeams
long@ open with objective 490
that is also the 200 day m/a which should work as resistance for a few days
clg0
buy stop@xxxxx stop loss 23.90
objective 25.55
future trading involves VERY hi risk
one can lose more SUBSTANTIALLY more then what the margin requirement is
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