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Management Consultant, that explains it all.
Thanks for the clarification, now I understand where your coming
from.
I have dealt with many of your ilk over the years
and none of them had a clue what the heck they were talking about.
Your doing an excellent job of carrying on the
lineage but please do it somewhere else.
There may be a platform somewhere in some nebulous
corner of some fantasy world where someone remotely wants to hear your constant
stream of dribble but this is not it.
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----- 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: Sunday, February 10, 2002 6:40
AM
Subject: [RT] Six honest men and
trading
Hi,I retired some years ago, but I can still
remember my most powerful questions when I was a management consultant
: -
what, -
why, - and
when, -
how - and
where - and
who.The poem by Kipling is perhaps remembered for his "six honest men
(They taught me all I knew)", but perhaps not for another part of the same
poem where he said:"But after they have worked for me, I give them
all a rest."Many find this approach works better for
trading. I began to realise what had worked so well for me in
business, at commerce, was not appropriate for
trading. When I stopped asking so many questions,
stopped being so analytical, that time coincided with stopping losing
money and starting to enjoy my trading as well as making
money.Worrying about who did what, and with what motivation, and to
whom or when and predicting can get in the way of making (and keeping)
profits at trading.What works for most who make and keep profits seems
to be acceptance of what is - few or no questions, few or no forecasts,
just acceptance of the market as the perfect reflection of balance of
buyers and sellers and being of a mind-set to take advantage of whatever
happens.It is relative simple to demonstrate that those trading
persistence in markets (trend followers, momentum players...) are going
after just a small fraction of profits available to volatility players and
are going against the odds as well.Perhaps that is why trend
following etc. is often associated with high stress.Perhaps that is
why spreaders and volatility breakout players and market makers comprise
the majority of traders with regular profits of over 50% p.a. - they do
not have the stress of being wrong
because: -
they make no predictions and suffer less OR
- they take advantage of being wrong to take
higher probability trades.Maybe it is time to put the six honest men
to rest.What do you feel? There I go again with one of the
six honest men - this time "What".It can be difficult to give up
old habits.Unconditional regards, Ric.www.traderscalm.com
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