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To: Shack who wrote (82832)	9/25/2003 1:48:52 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Russian billionaire?! Synonym for Russian mafia. -g/ng

To: Shack who wrote (82832)	9/25/2003 1:51:39 PM
From: AllansAlias	Read Replies (4) \| Respond to of 209892

Would not mind some feedback on these thoughts: "Winning" ~~~~~~~~~ Imo, the feeling of winning is more important to a trader than the winning itself. We must allow ourselves to win. If we enter a long and it runs in our favour and then we book it, then allow yourself to win. The decision to book it has to be based on something, the best information at the time, and so you congratulate yourself for making a good trade. What happens after the trade is nearly irrelevant. Too often we subvert ourselves. How do we do this? How do we turn a win into an emotional loss? 1) If the chart continues up, too often we'll figure out how much we "lost" and we negate our win with regret. "Damn, I should have held." 2) If we sell too late, even though we made money, we'll feel angry at not having sold at the top. "Damn, I should have sold earlier." 3) If the thing really dumps we might allow ourselves to get angry that we didn't short it. "F*ck, I knew it was a top. Why didn't I short?" There are even more ways than this that I can think of, but I think these are the top 3 reasons. There is a reason that they call it the "hard right edge". Things are easy to see when you get price data after your decision (hindsight), but at the hard right edge where there is only today's bar. Whatever the outcome, what else can you do but make the best decision given what you know then. Now, over time, if you analyze your trades and change your technique based on what you could have done better, then I think one has to accept that it isn't going to work all the time. For example, I have a habit of getting out too quickly. If I really tell myself to try harder to stay in a winning trade, then from time to time, I am going to get hosed. My instinct is to deride myself, but what I want to do is to remind myself of why I made the decision and to further remind myself that it's about odds -- on average, I believe I am using a better technique even though this trade didn't work out. A related topic for another time is congratulating yourself for good losses. Getting out at a small loss can be a very nice win.

To: Shack who wrote (82832)	9/25/2003 2:09:12 PM
From: JRI	Read Replies (1) \| Respond to of 209892

It would be the greatest thing to happen to Vancouver hockey, bar none, and you should be rooting for this dude...the guy has spent a mind-boggling amount bringing talent to Chelsea (willing to take big near-term losses), and with same MO, Vancouver would become Colorado/Detroit competitive (salary-structure wise). Honestly, it is you guys only hope to compete (salary-wise that is) with big-money, tax friendly (g) U.S. clubs- even Paul Allen is not throwing it around like he used to... That is, if they ever have a season after 2004... Ah, to have been able to have bought Russian monopolies on the cheap (w/down payment) in the mid-90s...