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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sprintcar who wrote (24519)	5/3/2002 8:04:48 AM
From: Joe Copia	Respond to of 25711

Self Awareness Professional traders may do some very intelligent things, but they have a tendency not to think systematically about what they are doing. For example, most traders who do a trade that works will not think: Why did it work? What did I do here that I might be able to do in another market, at another time? There is not a lot of reflection on the process of trading. In contrast, I think I always have been analytical about trading, even before I ever researched a mechanical system. “On the opposite extreme, you have academic types who research before they have ever traded. They lack the seat-of-the-pants knowledge necessary to develop good trading systems. Mercifully, I did the trading first. Therefore, the research we do is more applicable to the real world.” [Richard Dennis] -Market Wizards, by Jack Schwager, p.98