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----- Original Message -----
From: "DH" <catapult@xxxxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, May 23, 2001 5:31 PM
Subject: Re: [RT] DA moon and Delta
> > Trading is not about perfect science.
>
> Nothing is perfect but, if more traders adopted a rigorous scientific
> attitude, there wouldn't be so many people losing money and unable to
> understand why.
>
> > Each information input should be
> > viewed as incremental and cumulative.
>
> That's where, with all due respect, we disagree. We are all constantly
> bombarded with far more information than we can use. Much of it is
> contradictory and much of it is irrelevant. The trick is to learn to
> ignore information that doesn't significantly contribute to the bottom
> line. There is a whole field of engineering called digital signal
> processing where the goal is to discard irrelevant information and only
> keep what is important. Examples include radar imaging, photo
> enhancement, removing the static from an audio recording, using seismic
> data for oil exploration, etc.
>
> How often have you seen a trader with a dozen indicators on his screen
> and he can't decide what to do? Give him one pretty good indicator and
> he will at least be able to make a decision. It may be right or it may
> be wrong but he won't sit there, paralyzed, unable to pull the trigger.
>
> IMHO, injecting mysticism into the decision-making process makes the
> picture less clear, not more clear. Trading ain't rocket science but we
> could learn a thing or three from the rocket scientists about how they
> approach problems.
>
> --
> Dennis,
Funny you should mention rocket scientists. My uncle was the NASA's first
Director for Space Flight Operations and one of the founders. One of the
lengendary stories about him is that when he was Director at Lewis in
Cleveland, one of the engineers was stumped over solving a problem on
designing an engine. He had his worksheets and blueprints spread out all
over the place and had been working day and night trying to figure out how
to solve this one problem. My uncle walked by to see what the guy was
doing, and he explained the problem. My uncle took one look and said,
why not move that over there? They did and it worked. Intuition works too.
If anyone would like to learn about some really cool behind the scenes
stories about the US Space Program, drop me a line. I will send you a link.
Cheers,
Norman
>
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