|
PureBytes Links
Trading Reference Links
|
Quite a while ago, I gave up lunch meats. Infrequently, however, I
like a taste of ham a la flambe (a/k/a Mark Brown). But, baloney,
yuck!
Reveal yourself, Oscar Mayer!
Stu
--- In realtraders@xxxx, ric ingram <ringram@xxxx> wrote:
> Joe,
> On Date: Thu, 6 Dec 2001 19:58:55 -0500 you wrote:
> From: "Joe Duffy" <joeduffy@xxxx>
> 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.
> www.traderscalm.com
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Quit now for Great
American Smokeout
http://us.click.yahoo.com/0vN8tD/9pSDAA/ySSFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|