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>From: "Igor Kaplun" <ikaplun@xxxxxxxxxxxxxxxx>
>my point of view on your question.
>Say, you became a parent..
>How long will take for you to be a good father? Year? Two years? Ten
>years?
I agree that spending time with your kid is great, but if you are a first
time father, wouldn't it also make sense to ask for counsel from more
experienced parents? Go to Lamaze class? To read about early childhood
education and development?
>Those guys learn their trading style hard way by >experimenting this
>way or that way. I do not know them, but I am sure that >this is the "way
>to go".
That is not true. Many great traders were influenced by mentors, books,
newsletters, even simulated (AKA paper trading) trading experiments. Marty
Schwartz admits to being a "synthesizer" of other's methods (he spent 10
years "synthesizing" before he made money in the S&P). Ed Seykota tested
(paper traded) systems programed on punchcards and said: "Donchian [is a]
guiding light of technical trading." Most of the "market wizards" mention
"Remininces of a Stock Operator" by Lefevre.
>Education or use of purchased system will bring you no >style. Can you get
>real life experience by reading books?
Agreed, you must actually trade, but before you do, you need a plan that
suits your style.
>Here is the direct answer on your question.
>You Long, say on S&P futures. You have no idea on how market will
>react on speech of Federal Reserve Chairman. You put protective stop
>below the previous low. At the moment Federal Reserve Chairman appeared on
>TV screen your protective stop was hit and then market rally. Now you will
>have real experience. Next time if you will decide to go Long before the
>News you may put no protective stop, or you may close your position. From
>now on that
>experience will be part of your trading style, and >whenever you want
>to construct a system you will build it with the >knowledge of that new
>experience.
Although you will learn from the emotional experience of losing several
thousand $$$$ in a few seconds, the technical ideas could be learned on
paper.
Again, I agree actual trading is the best teacher, but surgeons don't start
out on live subjects, kids don't learn to hit baseballs against Nolan Ryan,
and if you step into the S&P unprepared....you might find out more about
trading than you want to know :(
P
>Regards,
>
>Val
>
>
>----- Original Message -----
>From: Anthony <Anthony3@xxxxxxxxxxxx>
>To: <omega-list@xxxxxxxxxx>
>Sent: Friday, July 21, 2000 2:52 PM
>Subject: Re: Intitial Trading Methodolgy
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