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Neal et al,
Glad to hear some of you guys speak up. Human nature makes for some
interesting crowd psychology to be sure. Obviously some will say to (no
place good) with trading, and for those that go broke there is little that
they can do. My reaction has always been to look for more answers and ask
more questions when things go against me. When your house is on fire is no
time to do the ostrich routine. If your ego tells you that you are saving
face buy taking it like a man put it aside. A friend of mine always says
"its not like money in the bank" you need to take whatever measures are
necessary to look out for yourself.
I know you are joking, but as far as system versus discretion is concerned I
figure that both sides are partly right and have something to learn from the
other. There should be time/price limits on system draw downs and an ability
to adjust to a changing market. Discretionary traders may benefit from
further defining their game plan and executing it flawlessly.
As traders wanting to profit we should be open to more ideas and some
guidance from the real old timers (and some medium timers) because
everything that goes around comes around. The markets were made by men to
operate around a core of simple principles, if you don't know them its like
thinking that you know computers because you can run a mouse.
Prosper
----- Original Message -----
From: Neal Hughes <neal@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, June 01, 2000 9:19 AM
Subject: Re: [RT] Gen: Shrinking
>
> Hello Prosper,
>
> I suggest this has a lot to do with the state of the
> markets. The easy trades are harder to find, losses
> are more frequent. It takes more guts now. Those
> poor mechanical traders are getting tired of forcing
> themselves to take every trade, after several
> consecutive losses.. All those back-tested systems
> were designed in bull markets, the future does not
> match the past..
>
> To do well, traders may even have to learn about
> going SHORT!!!
>
> Soon, only the Real Traders will be left on the list..
>
> :-)
>
> -Jokingly,
> -Neal.
>
>
> At 05:04 PM 5/31/00 -0600, Prosper wrote:
> >Real Traders is shrinking, shrinking, shrinking!
> >
> >Must be all that brilliant insight. It's made everyone wealthy and now
they
> >have got nothing to say:)
> >
> >Prosper
> >
> >
>
>
>
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