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Ric,
You are truely a talented fellow: no one comes to my mind who has
that finely honed ability you display to turn exasperation, criticism,
annoyance directed at them, into a character defect of that person
expressing their frustration, but you have excelled! An absolutely
masterful presentation. Congratulations!!
Dan
--- In realtraders@xxxx, ric ingram <ringram@xxxx> wrote:
> Bob,
>
> Thank you for your public reaction - I hear myself in you.
>
> On Date: Sat, 19 Jan 2002 21:09:36 -0800, you wrote to Realtraders:
> --------------------------
> "From: BobsKC <bobskc@xxxx>
> Subject: Re: Maybe
>
> Do people actually buy this geru b.s. and pay you for it? Please..
if you
> have something to contribute that has NOTHING to do with the
mentality of
> trading, do so. If not, you have burned out that topic several times
over.
> Thank you,
>
> Bob"
> -------------------------
>
> Bob,
>
> The word you are looking for maybe 'guru'. I am no guru, and my
> services are all free. Perhaps, that is all they are worth.
>
> Maybe you are projecting onto me where you would be coming from, if
you
> were saying what you perceive I am saying, in the manner you
perceive me to
> be speaking.
>
> Maybe your perceptions are wrong, and maybe you are telling us all
> something about yourself you would rather be kept hidden if you were
more
> self-aware?
>
> When you feel you are incredibly fortunate, and perhaps have
something of
> value to offer other traders from your experience of both failure
and
> success, you may also wish to give back some of your experience to
the
> trading community.
>
> If you cannot understand this, perhaps you will suspend judgement
until you
> can. But I think you can understand at a deep level.
>
> Most everything is to do with the psychology of trading.
>
> For example, the need to discuss individual targets, projections,
> forecasts, entry/exit points for individual trades etcetera is often
(but
> not always) based on a need for reassurance of the wisdom of actions
taken
> or planned, or perhaps based on a need for psychological stroking
for a
> (self-perceived) rare success story. Both suggest a lack of
confidence
> and thus a lack of long term success. There are exceptions, but
these are
> the most common deep motivations for discussing such trivia.
>
> For if a trader is more self-aware, then he/she knows that their
forecasts
> etcetera are just tips in the eyes of other traders - and having got
past
> the stage of taking tips themselves, realise the damage tips do to
other
> traders less well developed on the path to trading success.
>
> So I am glad to have been of (irritating) service to you. I am
truly
> sorry that the opportunity I may have given you has not been of
value to
> you to date, for I can only be as successful for you as you permit
me to
> be. No strategy works for everyone. Not everyone is ready, and
those
> that are ready need a range of different prompts, for everyone is
both
> different and the same.
>
> Emotions are your feedback device - only invoked when you recognise
you are
> off a path that could lead to your objectives or aims - this is why
the
> word "upset" is used for people in an highly emotional state.
>
> So what are your emotions feeding back to you?
>
> If emotions are a feedback device they are useful only if you use
them for
> their intended design purpose, and not as a weapon to unsuccessfully
> project your problems onto others and so as a means of avoiding
personal
> acceptance of the need for change.
>
> So let us look more into alternative approaches based more closely
on some
> sort of shareable objective reality, and not clouded by strong
emotions ...
>
> Imagine you took a trade in IBM. You did well to buy it at 50
and sell
> it at 100 - a 50 point profit. Congratulations.
>
> Imagine simultaneously with your purchase and sale, a friend made
5,000
> points out of IBM - in exactly the same period your directional
trade was held.
>
> Impossible you cry.
>
> 90 years of DOW data is available free from the internet. Just
search on
> Google for 'free dow data'.
>
> Over the period of the data, the total move from Jan 2, 1901 to
April 24,
> 1998 was 51.6 to 9064.2 - a move of 9,000 points approximately.
>
> In the same period the total path of the market, close to close, was
about
> 127,000 points. If the intra-day movements were available, the
path
> of the market would probably be nearer 1,000,000 points.
>
> So where is the money? 9,000 points in directional move or the
> approximately 1,000,000 points in market path.
>
> They say in trading you should go for the money!
>
> Volatility provides, on average, about 100 times the opportunity for
> profits compared to a trend - and getting the trend profits does
depends on
> correctly predicting the direction.
>
> Now you know where over 100% per annum profits can arise regularly
and
> potentially stress free. As you know, much trader stress relates
to ego
> - self value linked to prediction success or failure. So using no
> predictions removes a major source of stress for those of us with an
ego
> like me.
>
> Now you know why some successful traders put up with a life in a
trading
> pit even if they leave for home shortly after the open.
>
> But if your emotions are clouding your perceptions, then yet another
> opportunity goes by unexploited.
>
> That's life for those of us lucky to have emotions, but unfortunate
enough
> not to know how to use them to our advantage.
>
> This last statement is not entirely correct as those that wallow in
their
> emotions are using their emotions to one kind advantage - wallowing
and
> being able to blame those who are perceived as invoking the
> emotions. Sad really, as it is such a waste of a good life
experience
> and potentially useful emotional feedback.
>
> Still, there will always be another opportunity - perhaps this one
has your
> name on it. I do hope so.
>
> Unconditional regards, Ric.
> www.traderscalm.com
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