Re: [RT] Where do trading profits come from?

["BobR" <bobrabcd@xxxxxxxxxxxxx>]

Ric, in an earlier post you mentioned learning a 
trick from a broker to buy/sell the open and manage the trade into 
profits.  Is that something you can go into detail here?  How and when 
do you decide whether you are going to go long or short at the open?  What 
is the entry and exit criteria?
 
thanks,
bobr
 
<BLOCKQUOTE 
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 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: Wednesday, February 20, 2002 6:43 
  AM
  Subject: [RT] Where do trading profits 
  come from?
  Hi,Where do trading profits come 
  from?There are of course many answers.A short answer is: 
  'provision of service' to others.Another is lack of emotionalism so 
  more opportunities are seen and exploited.Another equally valid 
  answer, and perhaps of more immediate value to most traders, but requires more 
  words, is:Typical profits on a trading system can be considered to be 
  derived perhaps from several main factors 
  including:        -       the 
  inherent profitability of the 
  system,        -       the 
  trading agency chosen by the 
  trader,        -       the 
  trading instrument chosen by the 
  trader,        -       the 
  time horizon of the 
  trader,        -       the 
  error rate of the 
  trader,        -       the 
  discipline of the trader, 
          -       the 
  inner tendencies of the 
  trader,        -       the 
  acceptable risk of ruin of the trader and the associated trade 
  size(s),        -       other 
  parameters (trading system variants) used by the 
  trader,        -       the 
  use made of cross-system position sizing 
  techniques,        -       the 
  degree to which the traders fear gets in the 
  way,        -       the 
  degree to which the traders hope gets in the way...Now the first is 
  independent of the trader, but the remainder seem to be trader specific to 
  me.This probably helps explains why, if you give a highly profitable 
  trading system to another trader, he/she can manage to lose money using it or 
  make even more money.Unconditional regards, Ric Ingram<A 
  href="http://www.traderscalm.com/"; eudora="autourl">www.traderscalm.com 
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