Perrin

Hi Ingot, I'd say how's it going, but I read your post. So I assume it's not going quite according to plan. I'm doing alright - not making loads yet, but I kind of hope to. I know that I can do this. I know that I can make money doing this. I know that I can improve my life and the lives of others using the money which I can take from the markets. It's fun (when it goes right it is fun, when it goes wrong it's not so much fun... but I am getting better at seeing it all just as stuff that happens in my professional trading life (I am trying to think like a professional, act like a professional, be a professional)). As you say though, it's hard, perhaps impossible, to begin from a position of not much capital. Also, if it turns out that you don't really enjoy trading, then perhaps it's not for you anyway - turn your talents towards something more rewarding to you. Everyone's different, apparently. The way I've been doing trading recently is to try and think what other people would do in the situations, and trade contrary to them - at the right time (which seems to be easier said than done). I think that it might be that everyone needs to find their own way because while we're all wired similarly, my ideas and thoughts and make-up might be different to you. I don't really know what I'm talking about, and there are much smarter people than I on TL. But I figured that Db Phoenix seems to know a lot so I read most of the stuff he's written, along with Wyckoff and Humphrey B Neill, and people like that. Tape reading without indicators. Trading based on the behaviour of other traders. Note that any errors or losses are entirely my own, those guys I mentioned and others like them who I have learnt from and who helped me think about trading are just really helpful interesting people. I have sole responsibility for everything that I do (good and bad). But I have to tip my hat to people like that for opening my eyes to different ways of looking at trading & life. I don't want to encourage you to do that as it might just be another rabbit-hole, because I'm not totally sure that I can do it consistently myself, yet. I have had some success, but I'm not sure when I can say that I'm a fully licenced and accredited trader with a degree from the trading school of life. Perhaps another couple of years. Perhaps it's an ongoing thing that I'll have to work at forever - but I imagine that once I get very good, everything should work smoothly without too much effort (kind of like being good at any job, or riding a bike over rough terrain - I get a feel for how the bike will react to different circumstances and I react without thinking about it when something unexpected happens. I do understand that it is possible to lose accounts and I try to stick to my ideas and not to risk too much - although I have just put on a big position the other day because I got overconfident about being able to anticipate / predict the market. Which is perhaps a silly thing to do - when I take too large a position and instead of losing £200 I lose £1000 then my judgement and thinking is clouded and I may start feeling down. A euphoric feeling that I had last week probably contributed to me taking on too large a position. At least I now know what euphoria feels like! So next time I get that feeling (I hope I will!) I hope I will be able to recognise what I am doing, and try to trade accordingly (perhaps I will write a note to tell me what to do in such a circumstance, so I don't act in a manner which gets me into trouble). Just some thoughts there from me. I'm still working doing another job (self employed) and it's hard to juggle that with trading and everything else that I have to do. But being busy is fun. I've got lots of interesting books on lots of subjects which I want to read. How am I going to get the time to read them! I keep buying books on all sorts of strange subjects And lots of other things to do. I should be doing other things now, so I'll leave you in peace and get on with it. Whatever you decide to do, enjoy yourself Perrin

I think that if someone has focus they have a chance to get good at trading. If they know their own weaknesses and strengths they have an opportunity. But as you say, people have to want to help themselves get there. I still find it hard to believe that most people cannot see the wood for the trees. I really would like to get better at this. I have learnt a huge amount from you Db. If one reads through all your posts with a willingness to learn and think, and to help others - posting about your own trades is a good start and, I guess above all, being honest - then I'm sure that anyone can become whatever they want to. Regarding 20 years later Db, I don't know because I've not been trading that long. Surely it cannot have gotten worse, though? I imagine that the people at the top of the tree are similar, just different faces perhaps.

Henry Ford was an incredible man, his plain common sense approach is an example to everyone.

I am impressed Hey my message is too short! Now it's not.

The US needs to be more equal to get out of the recession, I imagine

If he rose and fell, he could rise again.

Oh, Presidents Day is George Washington's birthday? Happy Birthday, George! Um, sorry I was a bit late but I only just found out. Better late than never though, eh.

One person's sense, if seen from another completely different viewpoint, is non-sense. And if one acts completely out of kilter with the beliefs of others then they won't have the faintest clue what you're on about and they will probably ridicule you, or ignore you, or stone you to death, or whatever. Ok I'm getting there slowly. Fun this, ain't it? Maybe I should create my own journal thread, I'm not sure I should be saying this stuff here where there is serious trading to be discussed. Ok I'll do that later. Apologies for any intrusion, just ignore me. *Trader finding himself, nothing to see here, move along now ladies and gentlemen.* Wow this is so cool. Ok ok I also realise that I probably need to be careful & sensible about this. But my god, this could be fun.

We are all whatever we want to be. Not many people seem to say goodbye. It's nice when they do. If they're a master and say that they're leaving because they don't want to be here anymore, then that's nice because at least we don't find ourselves wondering what happened to them. Sometimes they leave for another board and we can go to that new board to see them. When we do that it's like meeting an old friend. If they're a novice and have decided that trading is not for them, then it's nice if they say goodbye because we can then wish them all the very best, in the hope that they leave trading to go on to do something that makes them happy.

Surely trading by size would come automatically if one were successful - if he masters himself and is consistently successful on all his trades (whatever his definition of success is). How could it not? If someone masters himself then they are whatever they want to be. Surely everyone has the potential to be anything they want to be. People gravitate towards success even if they don't completely understand why they do so, don't they?. It's gravity. I gravitate towards you Db because you are an incredibly bright shining light. Hmm, gravity. That's related to mass & size isn't it. "Size doesn't matter," or so my girlfriend tells me. She is much more intelligent (not to mention tactful) than I am so I'll have to rely on her judgement there. If a person had mastery then they would find a way to fill their position with whatever size they could handle. But one would need to be absolutely sure that they were doing the right thing at all times in everything they do - and I guess what you mean is that not many people can do that? To have awareness of what they & others will do in any given circumstance? To know where they want to be and what they want to be. Most people don't know, do they? They are just there. They just... They're just themselves (the majority are average?). Which is fine, nothing wrong with that. They are who they want to be. Um, what do I want to be? Oh right, ok. I remember. I'd better continue the journey. Long road, this. Interesting though. Hang on, another thought... but... if you can't have mastery, is there any point in even trying?? Do or do not...?? So why am I here? "It is your destiny" Ohhhhh great. So I have me to thank for this. Well thanks, me. You're welcome. Cheers. Sometimes I write things and then delete them because they don't make a great deal of sense if I come back to them later, or even on re-reading. Sometimes I do wonder about myself. Please someone delete this post if it will not be helpful to others, thank you. Kind of reminds me of Mission Impossible's 'this message will self destruct in 5 seconds...' I'll keep it in my own journal anyway because it kind of makes sense to me. My apologies for confusing anyone (or myself) if I read it again in the future (as opposed to the past) and it makes even less sense. Saying that, Mitsubishi also talks a lot of perceived nonsense so at least I'm in good company

Knowledge and awareness? A trader needs knowledge and awareness of others, himself and his profession, I think

I could write loads but I have to get some other work done - tidying up - I'm trying to make my life and myself a bit more organised (so that's lucky escape for anyone who doesn't have a day to spend reading one of my longer posts). Regarding the plan - I used to have plans set in stone, which worked ok, but I've kind of moved into just doing what i want, when I think it's a good idea. I'm still kind of following the set-in-stone plans (which is something like a buy on retracement or crash, that kind of thing, but it depends on the other price action - sometimes I wouldn't buy on a retracement or crash because I've seen that the trade works better certain times rather than other times. If the trade doesn't work, I can always exit.) I think I've just kind of internalised a lot of information and I will be the system, rather than my system being the system, if that makes any sense. Which is not something I'd recommend to anyone. I really don't quite know how to articulate what I'm doing. Why 4th Feb...? Basically, there was a sell off a few weeks previous, and then another sell off which pretty much made everyone go "arghh." So then when everyone was just standing there wondering what just happened, I approached and said "hello", and enquired why the sad faces? I sympathised with the stunned trader's story and said to him "look, how about I offer you 1610", which I thought was a fairly reasonable price at the time. He accepted, so here we are. It was the right entry for me. Probability of success - umm, I have no idea, I haven't calculated it (I probably should). It was quite high for me, I imagine. Not very high for the bloke I bought the stock off, unfortunately. But he'll learn from it and then he'll come back and beat me and take my money next time, which is great because it'll keep me on my toes and stop this game from ever getting boring.

It will be interesting to see if vendors can adapt to the new environment and if they can avoid self-promotion (since MMS has stated that products are not to be promoted in discussions). Can vendors adapt and become civilised valuable members of TL who offer help and trading wisdom, in the knowledge that in working hard, being honest & helping others they help themselves, and they need no other reward. Just imagine how amazing that would be. Did anyone see the film Daybreakers? The world was populated by vampires milking humans for their blood, and somehow the hero found a way to turn vampires back into humans. There is always hope

Regarding the turtles, I watched a youtube video on one of them giving a lecture. No offence meant to the guy but while he was giving the lecture and talking to the audience (who were all there to learn how to trade from one of the 'legendary turtles'), he didn't strike me as all that bright. Certainly nothing special. It got me thinking that perhaps the reason for his making money using the strategy, was that he has more of a 'follower' type personality (if there is such a thing). He was able to take the information given to him from his superiors and do it, and keep doing it, and didn't question authority even when things went wrong (like in the Milgram experiment). Maybe that's why 'average' people are supposed to do ok at trading – they keep doing something that works. Although... if they're average, how would they go about figuring out what works in the first place? You have to be a bit different, otherwise you'll be the same as everyone else – which would mean you're in the majority. Which is the right place to be at some times, and is disastrous at other times. Also, if they're average, what happens when the markets change, how do they figure out that the markets are different and that it may be time to adapt their strategy? Maybe that's why he's now giving lectures. Who knows. I think you need intelligence to figure out what works for you, you need to be able to admit when you're wrong (be humble), while being able to carry on in the face of adversity, having confidence in yourself (or system) that if things go wrong you can always change or adapt. Perhaps you need to be a follower, but a follower of yourself.