Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (1536)	7/17/1998 6:59:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

"August looks like a killer month by my work. I'm sorry I shall have to miss most of it." Killer month which way...or are you talking about all the work or golf you are going to have to play? If I was to guess (on the markets) we have a bit more up-side to take care of, then sideways to down most of Aug and then up one more time (but not like we just had) before a crash late SEPT or OCT. Yes, I was pleased with myself that I was able to stop without any real losses today. Down .10. Sorry I did not hold each trade a bit longer or take it off the table a bit sooner, but everytime I hold "hoping" for more, I have ended up losing, so better to be safe. That was a strong lesson from yesterday! So far I am enjoying the aspect of this that there is only one thing to learn and learn well. Not as frustrating as stocks, at least for me. Have a great week-end. -Scott PS - You got your neural net running yet? BTW, I never for a moment assumed that you did not work hard at this. From what I see, it takes time and study to get to a point where you can make some money, but it takes additional time and study always to refine and get better. I would bet if you take off a few weeks, it takes a bit to get back into the swing of it before you are back on your feet tradingwise.

To: Patrick Slevin who wrote (1536)	7/17/1998 7:05:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

Found this and thought it was interesting. I wonder where I am on the list. I know I have accomplished the part about donating to the market! :) From : webtrading.com -Scott ------------- 38-Steps to Becoming A Successful Trader Extracted from CTCN July Issue 1. We accumulate information--buying books, going to seminars and researching. 2. We begin to trade with our 'new' knowledge. 3. We consistently 'donate' and then realize we may need more knowledge or information. 4. We accumulate more information. 5. We switch the commodities we are currently following. 6. We go back into the market and trade with our 'updated' knowledge. 7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in. 8. We start to listen to 'outside news' & other traders. 9. We go back into the market and continue to donate. 10. We switch commodities again. 11. We search for more information. 12. We go back into the market and start to see a little progress. 13. We get 'overconfident' & market humbles us. 14. We start to understand that trading successfully is going to take more time and more knowledge then we anticipated. Most People Will Give up at this Point as they Realize Work is Involved 15. We get serious and start concentrating on learning a 'real' methodology. 16. We trade our methodology with some success, but realize that something is missing. 17. We begin to understand the need for having rules to apply our methodology. 18. We take a sabbatical from trading to develop and research our trading rules. 19. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. 20. We add, subtract and modify rules as we see a need to be more proficient with our rules. 21. We feel we are very close to crossing that threshold of successful trading. 22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology. 23. We continue to trade and become more proficient with our methodology and our rules. 24. As we trade we still have a tendency to violate our rips and our results are still erratic. 25. We know we are close. 26. We go back and research our rules. 27. We build the confidence in our rules and go back into the market and trade. 28. Our trading results are getting better, but we are still hesitating in executing our rules. 29. We now see the importance of following our rules as we see the results of our trades when we don't follow them. 30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better. 31. We continue to trade and the market teaches us more and more about ourselves. 32. We master our methodology and trading rules. 33. We begin to consistently make money. 34. We get a little overconfident and the market humbles us. 35. We continue to learn our lessons. 36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size. 37. We are making more money then we ever dreamed to be possible. 38. We go on with our lives and accomplish many of the goals we had always dreamed of.