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Terry,
great post.
It's true that many are subconsciously uncomfortable with the insecurity of
risk situations and instinctively put off the actual process of trading.
Most professions are geared towards avoidance of risk. Doctors, truck
drivers, programmers - you name them. Traders, on the other hand, are like
warriors. Willing and ready to take the risk of being wounded during battle,
though hopefully not mortally.
This samurai-like attitude necessary for trading is well described in the
book "The Way of the Warrior Trader", by Richard D. McCall. Should be
required reading for every trader, IMHO.
Kind regards,
Michael
-----Ursprüngliche Nachricht-----
Von: listmanager@xxxxxxxxxxxxxxx [mailto:listmanager@xxxxxxxxxxxxxxx]Im
Auftrag von Terry Smith
Gesendet: Wednesday, July 26, 2000 21:57
An: realtraders@xxxxxxxxxxxxxxx
Cc: realtraders@xxxxxxxxxxxxxxx
Betreff: [RT] Re: The Spiral Calendar
I agree. The more time you spend away from what you are actually trading
(your specific commodity and it's price action), the worse your trading
results will be. This applies to all endeavors outside of actual trading
:studying moon cycles, reading tea leaves, studying seasonals, listening to
sky jockies (astrology), working on the perfect moving average, looking for
an indicator that will "predict" price action for you ect, ect. Learn to
read the tape. Defy human nature and do the hard part first (picking up the
phone, placing the trade, managing the risk, exiting trade with profit or
loss). Then AFTER you master the art of trading you can add indicators or
whaterver you think will enhance your performance. The reason so many new
traders look for the holy grail is because it delays the actual process of
learning how to trade. Trust me, I am speaking from actual experience.Happy
trading.
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