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

To: gaj who wrote (7454)	3/17/2000 7:29:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 18137

Good to hear that you found value in the Ross books. I have to say that I see Ross books in a similar way. But the good stuff usually more than makes up for the not-so-good stuff. And the ideas I end up developing from the books have been well worth the time with his books. I have recently bought his book "Trading is a Business". This he where he goes into trader psychology issues, trade management, and money management, topics he does not cover in his other books "Trading by the Book" and "Trading by the Minute". Also covers how trading should be managed as a business instead of a hobby or a game. I have recently read the book "Dicaplined Trader" which turned out to be a very interesting and worthwhile on how the mind can work to get in the way of the success with trading and includes some ideas on how to deal with this problem. I agree the psychology of the trader themselves represents 70% of the problem that the trader needs to deal with as a day trader. Developing a successful system or methodology and trade and money management, even though the understanding of these topics are essential, I am finding represent only 30% of the problem in terms of the effort and learning curve required to learn how to trade well and most importantly be profitable. Day trading the SPOOs has been a humbling experience compared to the position trading stocks and options. And I have reluctantly have been learning allot about myself in the process. However, I still find the book to be somewhat lacking with respect to specifics on how a person can alter their specific self-destructive thinking to produce more success in the markets. :-) Bob Graham