|
PureBytes Links
Trading Reference Links
|
Steve,
Date: 26 Oct 2001 08:08:56 -0700
From: STEVE ROBERTS <steve80866@xxxxxxxxxxxx>
Subject: Re: Trading not Trades
Your kind words are appreciated.
Also you wrote:
"While there is a place on his web site that leads a person to
the possibility of paying for trader coaching, there is much on the site
that is free and available for all."
Steve, you are of course correct. Some clarification,
however, might be in order.
I retired at age 48 and so have more time available than most - I use
this time for many activities outside trading, but I use some of the time
to give something back to traders.
Over ten services on my web-site are available free to anyone who
asks. The list of free services is steadily
increasing. The amount of support I supply to each
client depends on her/his demand, and the nature and extent of
effort expended by the client - 5 to 20 hours of support over several
months is typical.
The two services that are chargeable, (clearly separated from free
services), are both set at a charge of less than one futures round
turn. This nominal charge is there to stop time-wasters - as
typically each of these two services involves over 70 hours of assistance
distributed over many months. I rarely refuse to
help anyone who asks, even when it gets in the way of good trading
opportunities - so the nominal charges are simply my protection from
wasted effort.
I do have a policy of accepting fees from clients who are :
- pulling
in more than six figures a year and
- where
the client feels that a substantial part of the profits are due to our
interaction.
But this is at the clients discretion - people who have received like to
give.
I have received much from trading and the website is one of the ways I
like to give.
I fully accept that those operating in take mode do not always perceive
clearly.
Steve, you also said:
"While I still love hearing everybody make their predictions and
watching to see how it comes out, I'm now making my money with no
prediction...... I guess I'm still a closet forcaster...I just can't make
any money at it."
This is a common experience. For example, it
took me over two years after stopping predicting to stop forecasting -
despite trading independently of my forecast - sometimes in the opposite
direction to my forecast, because that is what my trading system told me
to do. I was a slow learner - it seems to take
most traders who decide to stop using predictive techniques less than a
year to get past this 'behaviour'.
As one perceptive client put it, speaking of a traders club he belonged
to - "Relatively few of us seem to survive on prediction
alone."
Also the building of self-discipline is not facilitated by talking about
individual trades, actual or theoretical - never has, never
will. Often such talk actually undermines self-discipline -
and self-discipline has probably been, and will be, a key skill of
99.999% of successful traders.
So when you talk of individual trades you are probably saying something
along the lines of one of three things:
- "I
am not confident and need a stroke."
or - "Look
how clever I was/am - please give me a stroke."
or - "Thanks
for the tip, I have no self-discipline."
None of these is consistent with a winning trader building her/his
self-discipline. So such talk is usually non-constructive and
possibly destructive.
Be honest with yourself - why do you talk about individual
trades? When you have digested the full implications,
you may be one step nearer becoming a trader who keeps on winning and
keeping most of her/his winnings. And then you too will be in
a position to put something back.
Putting something back, via
www.traderscalm.com
and this group, Ric.
P.S. What are you putting back?
Yahoo! Groups Sponsor
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
|