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

To: David N. Jones who wrote (11902)	2/17/2001 6:45:27 PM
From: hypostomus	Respond to of 18137

David - Let me offer a more positive view on losing. Every trading loss is a gift, for it is a lesson reinforced by memorable pain. The market throws your character right back in your face until you learn to be egoless. As Larry Pesavento says in his seminars, "You're looking into a mirror, not a monitor." Trading is cheaper than therapy and much more effective. Losers are not victims, they are patients. - Mike

To: David N. Jones who wrote (11902)	2/17/2001 8:28:27 PM
From: LemonFlavor	Read Replies (2) \| Respond to of 18137

No doubt you were as shocked as me at the guy who killed his colleges in the daytrading room. Sure that is the extreme but behind some of those "bad fills" and trading losses there is a tragic consequence and I draw no comfort in that. Now that's a stretch. I could kind of see your point of view at first but this is like bleeding heart/victim mentality/people can't help it type stuff. A question: if "dumb money" was in the minority could most traders who are successful now still make a living?

To: David N. Jones who wrote (11902)	2/17/2001 8:53:24 PM
From: TheStockStalker	Read Replies (1) \| Respond to of 18137

When I speak in a public forum then IMO even the so-called "dumb money" traders are due a certain degree of respect. Well perhaps if Alan would have realized that YOU were lurking here he would have given you that certain degree of respect that you seem to need. Until recently I did not even know we had dumb money reading this thread. Speaking of dumb money, I remember the time Alan used the greed analogy in a post and really pissed off a female poster here that was ready to take over the markets. Needles to say her weak emotions knocked her out of the game early. And then their was the Rambi cult.... and then the Holy war LOL and on and on. Truth is that it is easy to sit in a recliner and point the finger at the people that are an easy target and that are actually doing something to elevate that standard of new traders coming in to the biz. Kind of ironic is it. IMO the dumb money group that Alan is speaking of is not the group that are actively trying to lift their knowledge through books, courses and this forum or whatever other proactive means by which they are choosing to quit being victims. But rather the groups of people that are not even on this forum because they think that they already know all they need to know to win this game based on the fact that they know have real time quotes or other non related successes in their life or perhaps a gambling mentality and with money to lose. The two forces that move the markets are scared money and greedy money, both of which can fall under group of dumb money. By pointing out the group on this forum it helps one decide what they do NOT want to be and edge closer to what they need to be for success. No doubt you were as shocked as me at the guy who killed his colleges in the daytrading room.... behind some of those "bad fills" and trading losses there is a tragic consequence Now that was the most inappropriate thing I have heard here in a long time. The guy killed his previous wife and kids a decade earlier well before he was a daytrader. Murder was not a symptom of his trading but rather Trading was a symptom of his already messed up psychology and he was in this biz for the wrong reasons to begin with. I hope you prove to be more stable than him in spite of your posts. Perhaps you are far to sensitive and not in control of your emotions enough to really try to be a trader. The actual truth is that is the smart money that is going to turn this market around and it is the dumb money that will once again jump in during the last qtr and extend out the top to extremes as before. PDT PS. As far are Alan's motivations..... even though it hardly matters, I am sure they are like most trader here and that is to make money. He just happens to like to teach and has a second money stream due to that.