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Point made. Pls don't spam
again.
Regards,
Mike
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000080 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
ric
ingram
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, October 26, 2001 8:56
AM
Subject: [RT] Trading not Trades
Hi,This is not another one of those "XYZ
has strong support at 56 and the Gann angle suggests a target at 67"
emails.We all use different trading systems.So some facet of
my trading system, with regard to some particular trading instrument, at one
particular time, is of little interest and even less utility to anyone, even
the originator.This email is about trading. It is
not about one aspect, of one view, of one stock, at one time as perceived by
one trader.This email is intended to make you think, not
react. Winning traders tend to respond to the market
rather than react to the market. So I challenge
you respond not react to this. You will
know you are reacting if your emotions are strongly
engaged.-----------Successful traders come in all shapes and sizes.
The range of trading systems and trading instruments and markets traded is
enormous.However, many successful traders appear to have many
techniques in common. Some of these secrets are
documented at <A href="http://www.traderscalm.com/calm.html";
eudora="autourl"><FONT color=#0000ff
size=3>www.traderscalm.com/calm.html
There was one common feature which I first mistook as a trading style
difference. It is this 'concept' I now share with you.Most
traders, including many successful traders, spend a lot of time and effort
identifying good entry points. This is
usually done by studying the path of the market to this point - based on chart
patterns or moving average cut-overs and many other approaches.Most
traders then use this analysis of prior market path (or patterns) to predict
market direction - so they can go on to trade market direction.Many of
the successful traders seem to carry on with the market path concept after
identifying their entry point - they often do not trade directionally at all,
or only part of their approach relates to market direction.It is as if
they are saying, "If I study the path of the
market for my understanding and for identifying an entry point, I will
continue trading market path because that is what I know
best."One of the benefits that seems to accrue to
this approach is that the ego is not involved so much - as these traders are
not predicting direction - so there is no 'success' or 'failure' in prediction
of direction, because there is no directional prediction.One of the
greatest inhibitors of calm - the ego - is often thus not invoked.And
they do not need to talk about their predictions, because they have
none.They are on to a virtuous circle of calm generating more
calm.The majority of traders appear to lose sight of the target - they
track market path and then aim at market
direction! Is it then surprising that
many miss the target - they were not looking for it!For another
approach to this concept and its implications see <FONT
color=#0000ff size=3><A
href="http://www.traderscalm.com/droppingthebaton.html";
eudora="autourl">www.traderscalm.com/droppingthebaton.html<FONT
size=3> and follow the hyperlinks.I am glad you responded not reacted!
Trading with good feelings, Ric. <FONT color=#0000ff
size=3><A href="http://www.traderscalm.com/";
eudora="autourl">www.traderscalm.com
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