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To: kiwi who wrote (31878)	12/23/1997 7:52:00 PM
From: Patrick Slevin	Respond to of 58727

I see I have 3 responses to what I said. I have not read the other 2 yet but I imagine I should put on my flame retardant suit first. I repeated a philosophy I read this morning that I find some merit in. As I said, some talk about trades and it does not bother them. I think the most important thing in any trade is to have a sense of detachment towards the trade and try to eliminate anything that might subject the ego to taking over. I know a lot of traders and many often talk about their positions while they are on. Not infrequently, they are not on the same page as I. I get one Oppenheimer guy who calls me every time the market starts to fall apart. He drives me nuts because he tells me now's the time to go long. Now SI is different, if only because here one does not have to answer the phone, so to speak. The rest of the traders I speak with during off market hours so it does not interfere with the day. Your posting a trade does not bother me, nor does anyone else posting a trade bother me. (Phone calls telling me what to do drive me nuts, but I occasionally read SI as a diversion to pass the time). What I said....to phrase it another way...is talking about errors is therapeutic. For me, and for many, opening myself up to a discussion about an existing position allows my ego to subliminally have a say. In any event, today's error (for me) is but one more reason why I should be out of OEX and fully in SnP where I would have had a predetermined stop before I even took the position. With OEX options the S&P 100 could have jumped a point and the option stayed relatively unchanged. With SnP, a point is a point is a point.

To: kiwi who wrote (31878)	12/24/1997
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

I occasionally correspond both privately and in a discussion group with this fellow mentioned in the following e-mail I just received. Perhaps it may make you feel more confident about your trading sometimes going awry. I did not know the following before this evening. I do not know, as yet, if this information is true or not. ~~~~~~~~~~~~~~~~~~~~~~~~~~ Quoting from the book "The New Money Master" by John Train on page 246: Andrew Tobias offers a pleasant "technical analysis" story. There was a $600 seminar on such matters in New York's Waldorf Astoria Hotel on Dec 6-7, 1986. One of the most promising gurus was "Norman Winski" described in the invitation as follows: "In 1975, he became a member and market maker on the floor of CBOE. During an 18 month period, 1976-1977, he successfully parlayed $500 into nearly $1,000,000." (Tobias observes that one could scarcely do that unsuccessfully). The invitation forgot to mention a little problem: In September 1977 - still ten years before the famous seminar - Winski went bust. ~~~~~~~~~~~~~~~~~ One other thing about Norman Winski which may take you back a step...Norman trades using Astrology. "There are more things in Heaven and Earth than are dreamt of in your philosophy". Like they say, whatever works, I guess. Merry Christmas.