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wmck6167

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Posts posted by wmck6167

  1. Posted

    [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.

  2. Posted

    .......

    There is also the simple economic issue of time management and opportunity cost (is it even worth doing yourself)

     

    Which is why the saying "dont trade with scared money" or "only trade with money you can afford to lose" is important in minimising mistakes.

     

    economic issue of time management......Mr. Livemore?

    economic issue of opportunity cost (is it even worth doing youself) Mr. Buffett?

     

    Are that right?

  4. Posted

    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.

  5. Posted

    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:

  6. Posted

    .........

    dont focus on being a star focus on avoiding mistakes.

    How often as traders are people trying to capture every tick, get every trend, get out or in at the top.....and yet are still making simple mistakes over and over.

    We all make mistakes, but how many stupid mistakes do you make over and over.

     

     

    (plus the blog often puts up interesting articles and books as well)

     

    Avoiding Stupidity is Easier than Seeking Brilliance

     

    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.

  7. Posted

    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:

  8. Posted

    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:

  10. Posted

    Technical analysis based systems THAT WORK CONSISTENTLY are difficult to automate t. And that is the reason why manual skills are required but manual skills also comes with certain constraints and perfection is not possible. I have gone through and tried your strategy and system and found it a little bit complicated to execute.

     

    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,

  13. Posted

    The hardest part is gaining confidence in your analysis. You must believe in yourself.

    Then the mindset. Being a Trader is not what you do, it's what you are.

    Your first goal should be to become a trader. Not to make money.

     

    "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.

  14. Posted

    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

  15. Posted · Edited by wmck6167

    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.:roll eyes:

  16. Posted

    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.

  17. Posted

    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.

  18. Posted

    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.

  19. Posted

    Yeah.Like Jesus he lived on the edge and died early,so became a legend.If he'd been an actor-James Dean.If a rock star-Jimi Hendrix.

    Some people are just born to be great and the rest of us ain't.

    Some of us become great,but,again,very few.

    Some have greatness thrust upon them-and fail miserably.

     

    But when you have greatness thrust upon you,much depends on luck

     

    Was Churchill great? What if we had lost the war.would he still have been great? Because despite all our engenuity and courage,the fact is if Hitler hadn't switched from bombing airfields to bombing London,the RAF would have lost the Battle Of Britain not from lack of planes,but lack of trained pilots.And why did he switch? because of Dresden.Did we plan to burn an entire city or was the weather a bad/good luck factor?

     

    Remove luck from the world and the already limited opportunity for greatness dwindles even further.

    So anyone who thinks luck doesn't play a part in trading must believe they're operating in a non human paradigm.

    But,you make you're own luck don't you? Isn't it more accurate to say you create a situation in which luck could happen?

    Luck is an invisible and underpredictable (how are you today zdo?:)commodity and plays (a)part (;)heading back here soon at all?) in any skill based endeavour,BUT we are not talking about skill and luck (imo) when it comes to people like Livermore,we are talking about greatness and skill/greatness and luck.

    So if you are reckless and blow your account,you could say Livermore was at times reckless so why is he great and you're not.?

    Part of the answer is luck-recklessness either pays off or it doesn't.

    Some of these great names in history were in a position where they were forced to take great risks.We are not.We can all make a million...on a simulator,so what does that mean?Real money prevents us becoming great? No.Many greats began life in poverty.

    They didn't do it overnight though.So maybe it's a case of getting to a certain point which can become the launchpad for being great.But probably most people would ease back at that point rather than going all out for glory.Another reason why greats are few and far between.

    Skill and luck is the best most of us can hope for..greatness is highly unlikely.

     

    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.

  20. Posted

    Be your own client?

     

    Notes:

    1) The material referenced is but another model. It is not necessarily truth… ie I’m making no assertions that it is a truthful or accurate model

     

     

    Be your own...

     

    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.

  21. Posted

    Livermore , a fictional fantasy fairy tale , a story of a gambler who blew up many times over and went bankrupt several times.

     

    Maybe it is time to look at how to beat today's markets and follow today's succesful traders

     

    George Sorros

     

    George Soros does it again! The billionaire, 83, gets married for the third time in LAVISH wedding to his 42-year-old fiance at his New York estate on Saturday | Mail Online

     

    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.

  24. Posted

    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:

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