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To: jaytee who wrote (683)	10/31/1997 12:45:00 AM
From: 1stSunRay	Read Replies (1) \| Respond to of 12617

"You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody. This is the life of a successful trader." - says the first paragraph of "Trading for a Living", by Alexander Elder. Check his reading list at: elder.com I didn't read "Street Smarts". In general, I don't study too much theory, really keeping it simple ... Trading for me is fun, is networking with gret daytraders I trust, is speculating mass craziness, is NOT following the crowd ... Only AFTER a while, you delelop your own style and your knowledge network. Never too late to change, learn, experiment and enjoy new tricks. Don't be so attached to your money. Allow yourself more freedom to try crazy/risky plays to spice up the boring process of learning. The fear will attract to you the very thing you fear, paralizing your progress. Relax, you can be a great trader, yes you can ! Build on this confidence every day ... As you already know, the success is an inner choice ... Best Regards to All Thread Participants, 1stSunRay

To: jaytee who wrote (683)	11/5/1997 1:40:00 PM
From: 1stSunRay	Read Replies (1) \| Respond to of 12617

STREET SMARTS by Laurence A. Connors and Linda Bradford Raschke Maybe the best review of this gem book was done by Larry Williams, Commodity Timing, who said: "Get it ! " . In my review, I would like to focus more on how well this book is helping new traders. Let me select at random some advice from the book: - "Listen to the markets and do not impose your own will upon them. - You only need one strategy to be prosperous - Placing initial protective stops must become a habit that is never broken. - The main goal of each trade is to minimize risk rather than maximize profit. - Don't carry losing positions overnight, correct mistakes immediately. - If you keep your losses to a minimum on every trade, you will have 80% of battle won. - The real skill is not losing money ! - If a trade closes in your favor, we should hold it overnight. - Writing down your trades is the best exercise in the world." I feel a special magnetism in Larry - Linda dialogue, you know: a total of 34+ years of experience. I like very much Chapter 25 (The Secrets of Successful Trading), by Fernando Diz. He says: "To traders who have been in business for a very short time: Avoid large drawdowns and recover from them quickly if you want to stay in business (but do not increase risk to do it !) . Two of the most important components of successful trading are the edge of a system and sound money management. Successful traders have a larger edge and better money management than unsuccessful traders. Unlike the popular belief however, this study shows that the smaller edge of unsuccessful traders is not the cause of their failure. Traders failure can be explained almost exclusively by the poor money management practices." So clear, so true ! . For next editions, I would like to see included a Fernando Diz update, more Larry - Linda dialogues, exit strategies based on Larry's God given great intuition, 1-2 weeks trading diary. With the wave of e-commerce, I hope M Gordon Publishing will allow Web downloading for books making all fans really happy ! Regards, 1stSunRay PS: I can't explain you how happy I am to receive STREET SMARTS as a gift ... It's $175 at: mgordonpub.com Order line: 1 800 797-2584