wmck6167

You shall be a successful trader since it's not easy to "make living as a trader." from my point of view. (although I did not know the time frame) You shall need to overcome your mental weakness first before you achieve this level? Am I right? I like trading since it involving a lot of thinking in mental with endless ways. It's very fancy and I never have this kind of feeling in my career or life. I enjoy the game a lot. I am dreaming to be a greatest trader (just dreaming) with a righteous purpose(still seeking). It shall be a lot of fun in this unexpected journey. Cheers.

[quote name=jpennybags;194187...... I think the intention of the OP was to make the point that by channeling your efforts into reducing performance shortfalls you will progress faster than by channeling your efforts to the fringes... the perfect system' date=' the perfect mindset, the image of the perfect trader.[/quote] Your thoughts are reasonable. I am just a person trading in retailer trading system. There is a question always puzzled me. It looks there is a way to be a successful trader by learning. Is that meant most traders in institutions(they were trained to trade) are very good in trading and, in that case, retailer trader shall be always be on the poor performance side? Will most of traders in institutions know all of the trading skills or trading secrets? like Mr. Livermore? I traded most of time is based on mind, not major on the method. But method is a good way to prevent the lost. Just curious.

economic issue of time management......Mr. Livemore? economic issue of opportunity cost (is it even worth doing youself) Mr. Buffett? Are that right?

"In trading the content of the subconscious mindset is important in not making mistakes." It is very true for me. I lost money when I felt uncomfortable either in mental or physical state. It's kind of mystic. So I learned to quit the game when I felt uncomfortable. :crap:

This is a great tread about the mistakes. It also mentioned to the repeat mistakes (or errors) during trading. It is always a big issue I always tried to overcome. Here are some of my experiences. I think the repeat mistakes is magnified when you are trading using your own money. I believe that I could not find it it's because "trading sins" block my view on the during the trading results that I can not see what's right. Here "trading sins" I meant fear, greed, pride, bias....etc. It's hard to correct it based on just following rules, since it's coming from heart. So I need to adjust to my heart conditions to reduce these repeat mistakes. Outside system(coach, or mentor) are easy to see it, but it can not change it a lot except that I can change my heart, not just trying to follow the rules. I am very admiring Mr. Buffett can have both system in one person. But I am also felt very lucky since I have a great mentor using very different ways to slowly help me to change my heart to see the mistakes during trading learning. That's I always appreciate Mr. Market, he not only provide me a place to make money, but also teach me to how to become a better person in daily life. Cheers.

Today I have some thoughts related to mistakes. There are many types of mistakes. But if mistake related to "how to win" part, since win is not you can control in interactive system. Therefore probably it may not be very effective to correct your mistakes related to "win" part. However if the mistake related to "lost"part, since it's the one that you can control it. You probably can correct it effectively. But could "zero defect" type correction can be achieved on "lost" part correction? Which means you wont' make same mistake anymore? I like the 6 sigma idea. The 6 sigma (99.99966% free of recurring mistakes) probably is the highest probability you can reach for avoiding your mistakes to be happened again. Best best probability to avoid mistakes is probably only 4.5 sigma since this is the most you can sense. A"6 sigma" process will have long-term defect rates corresponding to 4.5 sigma performance rather than actual 6 sigma performance Just for fun. :missy:

Here I have another thought. Dare to believe that your strategy won't work twice. It may work 10 times right, but, be careful, it might get something wrong at 11. Cheers.

very detail explain the related words of predict and react. I forgot to put the note. The event here I meant is life event, not the events related to stock or financial market. Here we are, the interactions start: pure predict vs pure react. Then the hidden dimensions start (it looks like Quantum), predict based on react or react based on predict, predict based on bias, predict based on history information, react based on mind condition, react based on fear, react based on greed.... What a fun world! ...:crap:

Reacting vs. Predicting One of the wisdom I learned from market is the attitude of changing from more predicting to more reacting toward events handling. In the past, I found that I predict and project the outcome based on my mind condition when event came to me. Sometimes it resulted in a lot of frustrations to deal with the unexpected situations occurring because I was predicting what was going to happening. After I change my attitude from more predicting to more reacting , then I found that I am more capable to face the challenges consciously. How great of the market wisdom is! Are you belong to a person with more react or more predict? Cheers. :missy:

Brain science, tried to find out how brain work on mind... Back to original assumption, could mind (or spirit) be materized (manuipulated or understanding by science approach)? Just curious. Cheers,

If strategy is in mental side, probably it's difficult to materize it. I am not sure whether it's right or not. But just provide my opinion. Cheers,

Well, I think, traders are more dynamic than investors, and traders did be capable to increase the market value from my observation. Cheers.

Everyone has good opinion, just based on what angles. If the system is interactive, can we always sense what we are going right or wrong? Are we the person to determine the situation to ..... Just provide my thought. Cheers,

"First goal to become a trader" is a great question. I am also curious the goal of trader... The impact of become a trader on your life...Why not just need investor, but also need traders? Cheers.

I really found the mental activity in trading behavior is correlated to your personality a lot. Yes, everyone want to make money from market and everyone want to win! Everyone want to manage risks well when facing uncertainty. But the mental activity related to your personality during trading are so complicated, (maybe obedience is so simple), from my opinion. Do you need to transform your personality first in order to thrive in this trading world? What kind of personality are beneficial to trading? Can trader help market to increase value? Or to keep right balance between risks and profit? Knowing maybe one thing, but capable to execute it maybe another. How to transform yourself to be a better trader or a personal obtained wisdom from market maybe be an important thing besides making money. How about trader's life quality? Can you have a good quality life when you are trading..... Cheers, have a great trade and with wonderful life.have

Your emotion is interacted with market (maybe from alogrithm design, I think), you are more or less passive in this game and it's hard to control it since your personality is hard to be changed, I think. However from my experience, you may be able to find another system you can focus on to interupt the interections and change the distribution of statistics on your buying and selling based on mental side. But saying is easier than doing. The strength is built on the the experience of failture and discipline and power of obidence, and maybe more ....or on your personal belief. Just provide personal opinion. Maybe there is one personal can really control his emotion.

In this interactive system, in my opinion, everything is results of interacted. Even there is a truth (or fact), but you may still need to consider the interactive responsive in this interaction system. (Kinetic effect). Developing edge from the market is less superior than have mental edge first before going to the market, it coming from the wisdom of an old book. This kind of edges management shall be different from Mr. Buffett and Mr. Livermore. Is there difference among interaction between personality and market? Just like the management style in different successful business? Regarding to the profit, is current profit equal to future profit? current risk equal to future risk? The battle field is on current or on the future? I always admire Mr. Buffett can tap dancing to work and with righteous life style. But, I did learn a lot from your valuable opinions. Cheers.

Thanks for your comments. I am curious his method in Livermore book. He was trading on trend with trend confirmed way.(besides, there are more widsoms in his mindset part) If everything is rely on "cut the lost quickly, let the profit run" . Automatic trading should be good enough to make a significant profit based on his justification. Am I right? For me, thinking there is a fix way to beat the market, it just seems to look like a "non-ineractive" mindset, but I maybe wrong. The book provides me a lot to think about the secret behind the windows.(maybe) I hope that I could know more in the future. Indeed, I am thinking why he was failed in his "The Million Dollar Blunder". Cheers.

These days I am reading and digesting Mr Livermore’s book and there are several thoughts about the trading he conducted. Compared with Mr. Buffett, he learned stocks trading knowledge from Mr. Graham, Mr. Livermore did not have that kind of experience. But I guess that he paid great attention with his whole heart to observe the numbers moving in stock market and developed a very effective method on his trading based on his sensitive observation and interaction with these numbers. It’s so great to observe the Pivotal points. Guess what, if you stay focus on these numbers (or curves) in the market without distractions, probably you will build up a very close relationship with them. The number and curve are “LIVE”. However there are more, he was able to penetrate these numbers and obtained the wisdoms from other side of windows in the stock market. I believe that he opened a window for knowing more insight on the human mind. Interesting thing is these wisdoms are coincident with my experiences obtained from other sources which developed gradually during self-learning stock trading. I conduct trials based on his method; I did not make profit, but provide me an opportunity to see through my inner world and courage to change myself. In the past, I obey the masters’ knowledge and strategy, and they guided me and I make money. Now I found that I was doing the trading by myself. All of the masters are now standing behind me, not ahead of me anymore. It’s very exciting to see these kinds of growing on my trading journey. Well, I do not believe that counted on Mr. Livermore method wholly could make the money easily. Just as he said, it is still “YOU” to make the money. Cheers and Good luck.

Just several personal opinions. Jesus was not lived on the edge. He knew our future and he die for us on purpose in order to change our future world. So if you know the future of your trading, you could be more successful, I think. Luck could be created by planted seeds on righteousness and developed by hard working (thinking) in trading world, I believed. I have a strategist behind me (he is pretty old:500BC) and I found that Mr. Livermore has some thoughts very closed to him, so I do not think he is lucky in 80% mindset part and he is greatest person in 20%part. He is a master, maybe just approaching the trading from different angles with other masters. If I am not good at 20% part, but ok at 80% mindset part, Could we still make money? Could we hence embrace the lucky? The trading world is so amazing. Cheers and best for everyone for the prediction on the trend.

It's a great advice for all the people start to learning. You are very right. We need to know what's truth behind the story, just like the stock market information. Furthermore, there is no rules 100% right in interaction system. Be your own... it's a great word....self finding problem and be able to self debugging is the power for Be your own, although it's not easy. Thanks for this tread.

In my opinion, I do not think it's fair to comment Mr. Livermore life journey as a fairy tale. For me, I would thank to him to teach me the "20%" I lacked in the past based on "80%" mindset part. The most important is I start to through out all of the masters and put them behind me and start to conduct my own trading independently, isn't he a great person? Thanks again, Mr. Livermore.

Hi, Just have a curious question. Do you think strategy can solve the following conditions: current lost, but future win or current win, but future lost? Cheers and have a great weekend!

and math. It's a great gift. Thanks.

Hi, this is just my opinion. If you are the one controlled the interaction in the game, you can find yourself with peace; if you are interacted then controlled by the game, then you will probably be very busy. However sometime it's hard to see who control the game, probably only you can determine it. See, I do not even know what I am talking. Just for relax and cheers.:crap: