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To: Moominoid who wrote (19086)	5/18/2002 1:14:02 PM
From: smolejv@gmx.net	Respond to of 74559

Hi, David. For this excerpt I tried to find the original, but I misplaced the book (Le Beau/Lucas in "Technical Trader's guide to computer ...", so I translated back from Germany - I hope there's no big differences from the original -: "we knew once a Trader, who maintained, he’s getting his trading signals from some mysterious outer-space creatures. He insisted that messages are coming in via his interplanetary handy, that consisted of a Coke bottle, with a broken-off car radio antenna stuck in it. This lucky (or unfortunate) trader actually was making money because of his ability to close off his trades correctly. He could not stand to lose money and then have to listen to the biting remarks by other traders, who shared the floor with him, so he used to close his losing transactions very fast. He would usually blame his losses on static or some kind of cosmic interference, which had mutilated his secret message. However, if he happened to trip into a profitable trade, he tried to prolong this experience for as long as possible. He then boasted loudly over the validity of his messages from beyond the earth and made jokes about the other traders, who were using such useless methods as F/A and T/A to make money. He was brutal in criticism of conventional commercial methods and full of you know what regarding his own success. He was absolutely intolerable when on the right side of the market. This lucky trader knew how to limit his losses and how to let his profits run, and so he made money. His commercial success was the running topic on the floor, and everybody was telling jokes about the talking Coca Cola bottle and her owner." What I meant to say, is making a market decision is to me like computing some integral. As long as the result is Ok, I dont care about the algorithm - it can a Coke bottle, it can be an ARIMA model. Eventually it's just the discipline of sticking to your method - and deep enough pockets. No greed, no fear... As my first boss used to say for some kind of people (I am definitely not meaning you or anybody I know here, it just crossed my mind):"Knowledge would impede their ability to act."