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Where I think I went wrong in my analysis of finding what works and doesn't
work is this:
I didn't develope a rigerous template of statistical record keeping to
evaluate a particular method or idea.
I could find an entry, but couldn't define a stop, or what would be useful
for a stop. If I saw the method, suffer
a huge drawdown, I would pass on the the next delight that I encountered on
RT or some book.
I didn't develop a rigerous enough mindset to instill the discipline to
define a method, determine the tools
and skills neccessary to test the idea and then test the idea. Ideas that
rely on retracements and momentum in the same package
are difficult to program. Thus one has to have the discipline one's self to
encounter and slog through a
history of price with the method by hand. This takes alot of work!
I would hop from one market perspective to another, yet not examine the
perspective exhaustively.
Then I committed the unpardonable sin of trading impulsively on a mixed
notion of what I thought worked.
In my opinion one of the key foundations of working in this business is
determining if one can discipline the
mind to be rigerous and logical and disciplined. There is alot of
experiential water between studying, and determining what works.
Don Thompson
> You have to study most of the works then you will find what works for
> you. Experience comes after learning the principles in the books then
> apply it in reality and make your own judgement, don't follow the
> croud, they will be always on the other side(the loser side)
>
> Haytham
>
>
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