[darthtrader]

hey Doc, can you post the manuscript as a pdf on here? I'm sure a bunch of us would love to read it.

This really is one of the most inspirational things i have read, i already have your quote on my wall in front of me. I attached the graphic i made thats in front of me with that quote on it.

[walterw]

Originally Posted by thetradingdoctor »

HI Walter,

My immediate answer to your question is to try trading one setup and see how you do for one month, compared with trading three setups. Because I don't know what you trade or your success rate, I am likely speaking too generally to you and I don't mean in any way to give an off the cuff answer that would diminish your profits. However, I have coached over 600 traders and many of them do well year after year trading the same setup and doing it so well that it really is entrained. Stuff can happen, however- the market changes, program trading comes in, etc, that may force you to change this. However, if you are stressed to the extent that you appear to be during trading I do suggest you simplify and make it easier on yourself. If you don't feel good immediately about going to one system, try reducing to two and see over the month what your equity curve looks like. If you woud like a copy of the full paper, please send your e-mail address to: janice@thetradingdoctor.c om.

Thanks!
Janice

Thanks Janice for that advice.... and yes I think I am more confortable on the one setup scheme, what happens is that sometimes I get kind of curios about new methods and I love to experiment new things... now I had always been profitable on my old one unique method... so I asume that one is "entrained"... thanks for this valuable information ¡¡ cheers Walter.

[rolange]

Originally Posted by darthtradar »

hey Doc, can you post the manuscript as a pdf on here? I'm sure a bunch of us would love to read it.

This really is one of the most inspirational things i have read, i already have your quote on my wall in front of me. I attached the graphic i made thats in front of me with that quote on it.

The 10000 hours and 10 years estimate mirrors exactly the results of research - subject of a TV documentary- on specialist music schools such as The Yehudi Menuhin School.

It was found that the children who went on to become successful professional musicians and international prize winners were the ones who were not only talented but put in the most hours of practise.

Within this group the majority were Asian/Oriental and it was cited that the work ethic and discipline inherent in these cultures was an advantage.

How many contemplating trading would consider it if they were aware of these statistics?

[PYenner]

Hi Doc

Your article is spot on.

Money is not the only reward and source of motivation.
Getting your thinking sorted to the stage where it is effective, is rewarding motivating and calming, there is an internal reward system working within the brain that thrives as it progressively finds better answers, one on top of another. Learning how to learn effectively, a pity it isn't taught in school, perhaps that day will come.

The reverse also applies to those who fail. It is not just money that is lost, the brain also implodes in dissonance, there is recognition that the ladder of thinking and testing was not climbed correctly, somewhere a wrong step was taken and not corrected. There is a punishment on top of any financial pain, it might become an aversion.

I repeatedly experienced major flip flops in my view of the market while attempting to learn. At times the brain offered me two largely opposing views of market reality and said choose between the two because you can't have both. The dissonance thing and the bouncing to higher and higher cognitive levels for consonance are as you describe. This is presumably where 90% fail, a brain blockage sets in.

At school there were some subjects I could not do, total blockage, fortunately I was able to get ahead on the subjects that I could do. Einstein and Winston Churchill had similar problems so lack of intellect is not the sole cause of the problem, though that is how we tend to interpret it, taking it as a personal failure when perhaps we should see it as a challenge.

If I had that time over I might have sat down with those teachers and questioned them until I found out what thinking process their subjects depended on. As I get older I simply follow the paths that are still open to me while they are still open and worry less about the paths that seem closed to me. Life is too short. The ancient Greek ideal that a man should excell at all things assumes that a man will live long enough to learn all things and still have time left to do something constructive, it is no longer realistic, perhaps it never was. Selective ignorance is something of a necessity, even if it isn't a virtue.

"Because the human brain has an infinite capacity to change, organize and reorganize itself, progression to trading excellence is possible."

It also has a remarkable ability to beat the c##p out of itself when it repeatedly tries and repeatedly fails. If that happens, seek a calm time to re-examine things from the ground up, let the realities do the speaking, keep the wounded ego out of it, keep it impersonal, keep your preconceptions a little to the background and be prepared to abandon them because that is the goal of the exercise. Let market realities reshape your conceptions little by little.

Doc, you are attempting to teach people how to learn.
If humanity ever gets that sorted, physical realities would be our only barrier.
Its the one thing we should be teaching in schools, yet its the one thing we don't teach, apparently because we are still struggling to learn it. It seems like a simple question with a simple answer that is somewhere near our fingertips if only we could grasp it.

[PYenner]

Shouldn't attempt to do posts (or trade) at 4am...
The internal reward is along the lines of the "Eureka Experiance", after a Greek that jumped out of his bath and ran down the streets naked shouting "I have it" after inspiration struck during quite thought, it happens

[thetradingdoctor]

Thank you all for the wonderful and extremely insightful and thought-provoking reponses to my article. I am moved deeply. It makes all of this worthwhile for me to know that I have helped one person in this way. I am seriously grateful. If you would be kind enough to send me an e-mail, I will send you the manuscript. I released it to my subscribers and coaching students on Friday and sent a copy to another person on this board who was kind enough to write to me. I prefer to do this on a one on one basis right now rather than a general post, as it will allow my coaching students and subscribers to receive it and study it before I do general posting. Thanks for asking and for understanding! I love the way you set up the messsages on your trading screen, Darth. Walter, Pyenner, rolange, darthtrader and everyone on this board who is here to raise him/herself to trading excellence, I am in awe of your courage. It is a privilege for me to be here with you and I thank James for this opportunity.


Janice