So You Think You Can Trade?

[PYenner]

Denial, yes, paddled down dat creek too often.
At least I am learning to recognize the scenery when that happens.

I don't understand Cramer either, thats not the way I think.

One thing I don't do is give myself a proper chance, discipline is needed.

>>Because the markets are always right---EXCEPT at two significant times.<<

Well said Doc.

[Sparrow]

Very good material doc, thanks a lot.

I accidentally found an interview with nassim taleb, he talks about that confirmation bias and statistics, which is covered in his book the black swan.
Maybe it doesn't fit that well here but he gives reason why listening to analysts and trying to predict the market can be very harmful.
The interview is also very long(1 1/2h).

[RAVIN]

	Quote:	thetradingdoctor
	That said, I was lured into the markets thinking that I was smart, intelligent, educated and it would be really easy for me to do it. WRONG. Massively wrong. It became very easy for me to lose money, and I proceeded to do that almost continuously for three years. I had two doctorates and I was losing money in the markets. Then, I got my third-- a Ph.D. in losses. Doctor Janice

Can very much relate to your experience, having been down that path.

In many seminars I have listened to the old cliche's but never paid much attention:

1. Keep It simple,
2. Develop you own strategy and tactics and test them thoroughly
3. Then apply the rules consistently with discipline and patience
4. Stop looking for Holy Grail because there is none

and finally keep away a Guru who claim to know the future via his system, he is either a consummate lair or GOD , if it is the latter, WHY THE HECK DOES HE NEED TO TRADE