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<FONT face=Arial color=#0000ff
size=2>Ric,
You
are way too calm.
<FONT face=Arial color=#0000ff
size=2>
Bill
Daniel
<FONT face=Tahoma
size=2>-----Original Message-----From: ric ingram
[mailto:ringram@xxxxxxxxxxxxx]Sent: Friday, December 07, 2001 11:39
AMTo: realtraders@xxxxxxxxxxxxxxxSubject: [RT]
CalmJoe,
On Date: Thu, 6 Dec 2001 19:58:55 -0500 you wrote:
From: "Joe Duffy" <joeduffy@xxxxxxxxx>
Subject: Re: Always on the Right Side
As volatility breakout trader who averages down in the expectation you
can always be on the right side of the market, how DO you stay so calm?
I am calm because I have done my research, gained my experience and
under-trade - same as any other calm trader whatever the style of their
trading system or the markets or instruments they trade.I am calm
because nothing can hurt me because I under-trade.I am calm because my
ego is not involved because I under-trade and because I make no prediction for
my ego to be attached to.I am calm because I love the occasional loss
- any set of trades that end in loss is good in the same way Las Vegas casinos
love to pay out a million on a one-armed bandit - it encourages the losers to
keep on playing and lose several million dollars back to the
casino. In fact they love losing so much they advertise it with
flashing lights and loud music.I am calm because calm generates more
calm - a virtuous circle. Calm generates clearer perceptions
(fewer emotions clouding perception) and so my ability to identify
opportunities is improved, so I make more successful decisions and act more
effectively and this generates more calm and serenity.I am calm
because I know I can make money almost every day on any market that moves
significantly.I am calm because I believe I provide a service and that
is why I get paid (make profits). So I am not in the class
of traders who self-sabotage.I am calm because I enjoy learning, and
learning benefits from mistakes. So mistakes are
opportunities for improvement not reasons to punish myself.I am calm,
because I have seen most things before and know I make the most money on
periods where initial market moves go against an initial
position. I have only recently overcome disappointment
(a low grade emotion) when the market moves quickly in favour of an initial
position, for these are often the least profitable trading experiences -
because service provided is minimal.I am calm because I know the more
service I provide to more traders, the more I tend to get paid.I am
calm because I know the odds are heavily on my side.I am calm because
a mistake is just one part of one series of trades on one market - there is no
problem - it gets lost in the wash and I can learn from the mistake.I
am calm because I know the market makers are working their butts off to make
me money.I am calm because I know the big money is just waiting to
help my position out.I am calm because if the market moves temporarily
against my position, the next trading period will have even better odds in my
favour.I am calm because any increase in margin by the clearing house
will shake out more losers for me to make more money.I am calm because
as the market moves against a position, the odds in favour of the position
improve markedly.I am calm because nearly all slippage is in my
favour.I am calm because it is just one set of trades and the result
is not important.I am calm because I am patient.I am calm
because I am a seller near the top and a buyer near the bottom because I
repeatedly sell into rises and buy into falls.I am calm because I meld
with the market.I am calm because I am doing what I love to
do.I am calm because the market showers me with presents as reward for
helping in its cause of serving traders to the best of its ability.I
am calm because the teaching I am privileged to receive from the market is
helping me in other aspects of my life.I am calm because I have
learned to be calm.I am calm because I have made lots of mistakes and
lost money in many combinations of markets, instruments, trading systems - in
other words I have done my apprenticeship. I am calm
because I can often learn from wisdom of others.I am calm because I
can often learn from mistakes of others.I am calm because I do not
need to be right.I am calm because a gap in either direction helps
me.I am calm because I do not need to worry about loss of data-feed or
telephone connections.I am calm because I am getting past excitement
and into enjoyment and fulfilment.I am calm because I have no need for
expensive data feeds, or expensive graphing software.I am calm because
I know have unlimited opportunities for profit.I am calm because I can
get on with my life without worrying about an open position - the worst that
can happen is that I miss a good opportunity.I am calm because I know
have unlimited opportunities to improve.I am calm because I am in the
moment.I am calm because I know my skills are limited and this does
not matter.I am calm because I can appreciate and admire the skills of
those few traders who fight heavy odds and win through vastly superior
skill. I am calm because ...If you are not calm
why are you not calm? If you are calm why are you calm?So
my question is why so many traders are unable to get past fear and
greed? I have 95% as many answers to this question as traders I
have shared experiences with. But I never cease to be
surprised, intrigued and learn from each new answer.Perhaps the real
question is:"How do so many traders remain so lacking in calm when
they see the best trader in the world - the market - operate so successfully
every moment of every day?"There you have it, the market is the worlds
best trader and yet most traders cannot or will not see it.
Yet some will willingly pay to attend seminars given by traders who will never
be as good a trader as the market is - and the markets seminars are open for
all.Regards, Ric.<A href="http://www.traderscalm.com/";
eudora="autourl">www.traderscalm.com To
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