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 : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Glenn who wrote (13144)	2/13/1999 5:27:00 PM
From: Junkyardawg	Read Replies (1) \| Respond to of 90042

Glenn You would not believe the e-mails I am getting today from people. They are full of kind words and anticipation of the new site. :-)dawg

To: Glenn who wrote (13144)	2/14/1999 12:16:00 PM
From: Charliss	Read Replies (1) \| Respond to of 90042

>My feeling on daytrading is its totally reactionary. Thinking interferes. I'd love comments.< Hi Glenn, There is a kind of thinking that is based on emotion, and it is this kind that interferes with trading- swing or position trading, and even longer term trading, but especially with day trading. For example, if the thinking- the trading decision- is governed by a set of emotions that are related to how "the great trade" will change the circumstances of one's life, then the trader is setting herself up for almost certain loss and failure. Anytime we approach the market in the same ways that we habitually live our everyday lives- emotions playing a major role- we are almost certain to lose, and, in the end, fail. The changes that are important are not so much the market changes or those things that affect the market, but the inner changes that are under the jurisdiction of the individual. This is why we hear so much about the necessity of discipline. We need, as individuals, to be alert to ourselves as much as we need to be attentive and informed about the market, the sectors, and the circumstance and dynamics that surround the stocks we trade. Discipline is perhaps the most difficult thing to achieve. It is what accounts for the greatest, and the best, changes in any individual's life. To experience anything for the better, whether it be a relationship, a performance art, a craft, or the business of trading, we must always be willing to begin with ourselves, not with another person, a market, or anything external. Our human tendency is to resist this- to want an easier and softer way. Any time we honestly look into any aspect of our life, critically but not with judgement or self condemnation, we will see this tendency. Thinking that change can be achieved this way is not real thinking: it is what we call wishful, hopeful- emotional. All this is not to say we should starve ourselves emotionally, for a rich emotional life is healthy, and it gives vibrancy and depth, and individuality, to our personal lives. When we visualize our goals, there will always be emotions attending the visualization, and the process of achievement. We need to set goals in trading, and we need to set the rules we will follow. Sometimes, in our development, we begin to develop an intuitive ability that is part of our disciplined thinking. The important thing to remember though is that this intuitive ability only comes about as a product of the disciplined thinking, and it is never a substitute for rigor and self imposed rules. Best, Charliss