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G O ,
I see your back at the terminal. G'day
You said at the end of your response to me that you
essentially empty your mind
of yesterday's trading activity, win or loss, it
doesn't matter. And each day you approach
as new.
You mentioned , ...... where I was yesterday means
nothing to me where I am going tomorrow means nothing to me...where I am now
means everything..this is living this is the zone.. I enter
the market and I am wrong until the market confirms to me I am correct in
this....market.....Like many great traders have said each day is a new day...
and I like them ask myself the question each day with all trades... would I put
this trade on today?? if I answer NO then I pull the trade....you see from my
heart I have not expected anything.. the market will tell me what it wants me to
do..... and if I do not listen so be the results and I have to be responsible
for those results.....I am responsible for my actions.. no one else....
I can see quite easily that my perspective is
coming from a desire to be right, which is causing me problems. Mark
Douglas says that it is essential to
clear you mind of one' s convictions and beliefs
about the market in order for the market to come clean and tell you what it is
going to do.
How did you discover that you had to keep your
personal beliefs/convictions out of your trading ( i.e. You enter a market from
the point of view of being wrong), when you
have studied and observed the market over a period
of time?
How did you arrive at a psychology of your mind to
consider yourself Wrong until the market confirms you correct. This
to me is a great Koan (sp?)
Since you have to have in your heart a sense of
where the market is going, yet must keep your conviction?
Regards,
Don Thompson
----- Original Message -----
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A href="mailto:enchant@xxxxxxxxxxxxxxxx";
title=enchant@xxxxxxxxxxxxxxxx>Gentle Ox
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, May 08, 2001 11:47
PM
Subject: Re: [RT] WRONG thinking..
Don Thompson wrote:
GO... I wasn't trying to get you to justify your
self. I know you know alot. I have only done this thing part time
for 10 years and have had 80 percent losing years.Some Self
Quetions.... With utmost respect one would need to question if one should
continue trading? If one should be a trader? Why is one trading? ....and
the list goes on!
I have found that most people who are successful in
this business the hard way have been doing it for probably over 15
years, made and lost several fortunes. I am well on my way to losing my
first small fortune...as a have said before most overnight
success's take about ten years and most very successful traders are a rare
and seperate breed from the mob.
I am obviously not an intuitive trader, I have no
truck with intuitive traders or people born into trading familys or
people who are successful trading. I was having a "gas" attack about
saying youmy apologies I misunderstood you...maybe it is a
cultural thing too..!
were a trader, and implied you had no expectation,
when your language belies your experience as a trader to expect to be
really "a happy chappy" while a tight range is developing, because your
experience tells you so. eh? If that is not forecasting
something's "on the horizon", then I don't know how that is different
than Mr. McCabe telling the Merrill Lynch crowd that currently we are in
a "Calm before the storm"..
> still smiling,, "Gentle" Ox.... > and no i do not
forecast,,just trade... and I am wrong until proved right > read Ned
Davis's book!
So your experience, your memory, your respect for your self, your
willingness not to put yourself in danger,I do not
stand in front of frieght trains but I do not back down from danger
either.... "risk = danger" hence the losses and henc the rewards...!
the Chinese and Japanese translation of "RISK" is
"opportunity riding a dangerous wind"
your stop placement are about trading. I
would expect most newbies, thing trading is trading an opinion, where
as you (Gentle Ox) are trading from experience. That is what
I am getting at. My point is that you have to
forecastI do not have to forecast...... where I was yesterday
means nothing to me where I am going tomorrow means nothing to me...where I am
now means everything..this is living this is the zone.. I
enter the market and I am wrong until the market confirms to me I am correct
in this....market.....Like many great traders have said each day is a new
day... and I like them ask myself the question each day with all trades...
would I put this trade on today?? if I answer NO then I pull the
trade....you see from my heart I have not expected anything.. the market will
tell me what it wants me to do..... and if I do not listen so be the results
and I have to be responsible for those results.....I am responsible for my
actions.. no one else....
develope a reasoned or intuitive expectation in
order to pick up the phone. If its different then, I am asking you to
clarify.. I am not interested in tearing you down as a person, I
apologise that you interpreted what I was writting about as a challenge
that you had to say Phew..
So when you are proven "wrong". How do you deal with it? How do you
reconcile your expectation with the market being right.
Life is about mistakes, been wrong.. I take that responsibility on
board I do not expect there fore I having nothing to reconcile. The
market is always right it is "ipso facto"
For example a coflict... If you go to hit me it is not my
problem... you have an anger problem....you mean nothing to me If you
go to hit me I will redirect your energy of the blow and I will only take
action after you have launched your attack.. not before and not after..but
in that very moment you unleash the blow.. Thus the trade........strike
only after the trap has been set....
This is what I am interested in.
Regards...
Don ThompsonIf I can answer any questions I will...
remember I can only answer from where I stand not from where you stand....
"Gentle" Ox To unsubscribe from this group,
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