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> Subj: Re: [RT] FW: S&P Mentor Wanted
> Date: 4/21/00 3:47:01 AM Pacific Daylight Time
> From: Jpilleafe
> To: support@xxxxxxxxxxxxxxx
>
> In a message dated 4/20/00 10:49:56 PM Pacific Daylight Time,
> support@xxxxxxxxxxxxxxx writes:
>
> << Any mentor or teacher can only teach what they are skilled at and think
> is of value. Just like attending college, you may need several teachers.
> Then, its up to you to put together what works for you. The rest of what
> makes people successful probably can't be taught. You have to be born with
> it, i.e. perseverance, discipline, nerves of steel, quick reflexes,
> strategic
> mind, etc. I will tell you that the most important knowledge you can have is
> self knowledge. "Know Thyself" is what W.D. Gann invoked as his first
> trading
> rule. >>
> **********************************************
> Norman,...It's ironic that you feel this way,..as if to admit that without
> "self knowledge" a person could not benefit from your fee based service,
> etc.
> As usual I disagree with you and feel that success in the financial markets
> can be learned from others who are already successful,..without a person
> realizing "self knowledge" or other such jibberish. The key factor is the
> willingness of the successful person to openly share his/her knowledge,
> methodology, and insights with the person who is learning. This gets back
> to
> an earlier post which I'll repeat
> for the benfit of others who may not have been on RT forum at the time or
> missed
> the post,...etc. Regards, JIM Pilliod
JP,
You are welcome to your opinion and I don't begrudge you for posting it.
Learning to trade is analogous to learning to play a musical instrument. You
can read and study
music and learn all there is to know about music. But, that doesn't guarantee
that you can squeeze out
one pleasing note from an instrument. Similarly, you can spend a lifetime
studying how to trade and
become a true expert. Then, devise an ingenious plan on how to use this
knowledge to trade your way
to a fortune. However, for 95% of the populace, a funny thing happens on the way
to the market.
Human emotions enters the picture and most people don't have the discipline to
follow their plan or to stick with it. This quirk in human nature has nothing
to do with my efforts to make a living or to be rewarded for my work. JP, you
grant me way too much credit as to my ability control mass human emotions. You
also greatly over rate the value of market knowledge over the self knowledge. I
have
known many traders who were very successful simply because they had tremendous
self control and no ego. If you ask them where the market was likely to go in an
hour or day from now, they would likely be wrong. Yes, the great struggle to
make big money is not with the markets, but rather with oneself. I am sure that
the experts in the trading psychology field, such as Van Tharp and Mark Douglas
would agree with this.
Cheers,
Norman
>
>
> In a message dated 1/22/00 1:47:32 PM Pacific Standard Time,
> nwinski@xxxxxxxxxxxxxxx writes:
>
> NW: " Wake up people. All of life is one big advertisement. No one does
> anything for free unless they think they can somehow benefit."
>
> ****************************************************************
>
> Norm,...
>
> I have to disagree strongly with your statement.
> More like wake up and look around you at all the people
> who for whatever reason have decided to give freely with
> expectations of getting nothing back in return....just the
> idea of sharing what they have found worthwhile with others.
>
> You can look at people "volunteering" their time in your
> community,...or other examples of selfless sharing whereby
> one's good fortune in life experience enables them to give
> something back. The wealth effect...."prosperity" whatever
> you chose to call it,...has enabled many people to be in a
> position whereby they are now able to focus on "giving back",....
> helping others in whatever way they chose.
>
> So life need not be "one big advertisement".
>
> Specifically in the world of Technical Analysis,...let me give
> you an example. The Market Technicians Association MTA
> sponsors an Internship Program,...and as an affiliate member
> in 1992 I was selected as one of the first to go through the program.
> The instructors "mentors" were top in their positions...Alan Shaw with
> Smith Barney,...Phil Roth with Dean Witter,...Ralph Acampora with
> Prudential,...Steve Shobin,..etc. These are very busy "prominent"
> people who for a several day time frame each set everything else
> aside to teach a novice,...someone they would likely never see again.
> During a three week period these "mentors" gave selflessly,...sharing
> in their methodology and work, favorite methodology,..insights,....
> nothing was "proprietary"....off-limits,... or unanswered. These
> instructors gained nothing in return from this effort,...except perhaps
> to instill the same desire to share knowledge and success to the intern.
>
> It worked for me. After the internship,..I went on to become quite
> successful in part due to insights I gained from the internship
> experience. More importantly,...I learned the real value of sharing
> knowledge and helping others....expecting nothing in return, just being
> appreciative of the opportunity to give back..etc.
>
> Norm,. you may want to think of how your posts would be different
> if you were not motivated to promote your services. Clearly you
> are very smart and your work is well founded. But,...it is always
> a good time to take account of how fortunate
> so many of us are though,...and think about ways in which we can
> so easily give back so to speak. Simple.
>
> Jim Pilliod jpilleafe@xxxxxxx
>
> **************************************************************
> Also,...I am not affiliated with the Market Technician's
> Association (MTA) but would highly recommend the
> organization to anyone seriously interested in working
> in the financial markets.
>
> Like anything else,...you get out of life what you put into it.
>
> MTA site is www.mta.org
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