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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Robert O who wrote (586)	6/12/1999 5:12:00 PM
From: -	Read Replies (1) \| Respond to of 18137

<By the way, (to paraphrase) Marty is despicable human being and crazy as a Hoot Owl...> RO, Those are some interesting perspectives on Marty's Book. I can see where the MAJORITY of people reading this book, will LOATHE Marty Schwarz. But, the more you're around real traders, the more you see Marty Schwarz as like, the quintesential prototype for a large % of the population of successful traders. For example, I know a lot of traders who, if you are unlucky enough to interupt them in the last half-hour of the trading day with anything less than a personal call from Alan Greenspan, would respond similarly. They're not very "nice" people, by conventional measures. Not every trader is that way, fortunately. What was refreshing to me about Marty's book is the way he approached it was, "Look, I am such an A___H___. Look what I did here, and there. No apologies - that's how I am. It ain't pretty". If you can get past that, then you can start to see that he is almost trying to get you to laugh (along with him) AT himself, who he tries to defend but also understands is no good defense. Also, there's a certain scrapiness to the guy that I like! It definitely could be argued that he is "crazy". But, in case you haven't noticed, that can be said to be true for at least half of the human population on this planet (I think wild animals are often more rationale in their behaviour - witness, Kosovo...). I found Marty's behaviour with the Gold bars in the bank, to be very psychologically revealing - a key point to understanding what makes him tick. What it said to me is, he is a total risk taker, as long as he knows he can still trade (the Gold Bars are still there). Sure, he's a little neurotic that the financial system might melt down (Banks close) on any given day; but that's literally true, isn't it? The fact was openly discussed and acknowledged just recently, by the Fed himself, in relation to the Long-Term Capital bailout. Getting back to Marty though, what the Gold Bars represented to him, I think, is the CONTINUING ABILITY TO TRADE. Which is a lot of what he really cares about. That, and Audrey. That being said, I certainly wouldn't want to have to defend the guy's behaviour at "The Pearly Gates"! Regards, -Steve