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At 12:02 PM 10/24/01 -0500, you wrote:
>".....3) Ahh, and the excitement... I don't know what is more fun: to make
>a few
>bucks or to get up in the middle of the night to try out a bright idea that
>makes millions in backtesting..."
>
>With this mindset, you become the market's legal prey.
>There should be no more "excitement" over a winning trade as there would be
>over a losing trade.
>
I meant to stress the fun I get out of development, but you are right of
course: an emotional involvement in actual trading is a handicap.
When one breaks a rule this indicates the system is not tuned to ones
personality and either some system-tweaking or personality-tweaking may be
needed :-)
Happy trading,
Herman.
>Al Taglavore
>
>
>
>----------
>> From: Herman van den Bergen <psytek@xxxxxxxx>
>> To: metastock@xxxxxxxxxxxxx
>> Subject: The fun of developing systems (newbie views)
>> Date: Wednesday, October 24, 2001 9:57 AM
>>
>> Thanks, discussions of late made "some not so often thought about" points
>> surface.
>>
>> It may help you to be become successful AND happy (note the Boolean
>term!)
>> trader if you reflect on how you get your kicks in this game. I think I
>can
>> speak on behalf of most newbies with these points:
>>
>> 1) We love our tools: Computers, the Internet, some programming, 'meet'
>> some successful traders, and strike an occasional intellectual victory
>(as
>> we see it...). No doubt, Investment programs are among the best video
>games
>> around.
>>
>> 2) We can justify our time behind the computer. We tell our friends and
>> relatives that eventually we WILL SURELY make some money to pay for our
>> toys (computers, software and data). Only the brave add to that that you
>> consider yourself to have what it takes to be in the top 5% who
>succeed...
>>
>> 3) Ahh, and the excitement... I don't know what is more fun: to make a
>few
>> bucks or to get up in the middle of the night to try out a bright idea
>that
>> makes millions in backtesting...
>>
>> 4) Profit objectives are not the same for all of us. Most of us, I would
>> think, start as a hobby investor/trader and we are not aiming to become
>an
>> investment professional. The desire to become an Investment professional
>> comes after many years of consistent success not before - at least it
>> should. Most of us would be quite content to sync the market once or
>twice
>> in their lifetime, that's all we need. Just have a good exit strategy!
>>
>> 5) The 'need' to make money should be differentiated from the 'desire' to
>> make money trading. One doesn't, or at least, shouldn't start trading to
>> "earn a living". If you need money to buy bread: go get a job!
>>
>> Ahh, well, enough said...
>>
>> Have a great day,
>> Herman.
>>
>>
>>
>>
>
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