Exup.... explained it well in his aircraft related definition.
Therefore, PA trading will never be elegant.
You all probably know when PA became a buzz word in recent years.
To measure the path to elegance in expert trading could be done.
It would be best done in terms of using principles carved in stone as milestones. None of the priniciples are trading or finance specific.
An alternative would be to use specific skill acquisitions as milestones.
Books are on many levels. My elucidation choice is as I write my five books is to go from level to level with regard to the mind of the reader.
A status report on the webb's current content with respect to milestones, is that less than half have been covered and more than half are yet to be articulated.
Most people can recognize the dicsussion levels like: Trade, Dick, trade, etc..... It is rarer to see disuccion levels that describe the next several trades in terms of specific data sets and the order in which they will be appearing and where and when (their locus).
Look at the list of 10 or 12 of the Greatest Traders You Have Never Heard of. Google the list and find that there are no PA traders.
Make a chart that goes from left to right across the top by labelling it with the skills levels you have heard of. Go from least to best.
Vertically list the five possible decisions a trader could be making at any time.
Fill in the cells with the frequency of each decision over a trading session.
Second. fill in the cells by ranking the order of importance of each of the types of decisions from 1 to5 where 1 is most important.
For a third time, fill in the cells ranking the ease of the decision from easiest (1) the hardest (5) for each skill level column.
On the fourth pass, fill in the more impotant milestone used for a given skill level for each of the 5 rows of types of decisions. For the 30 milestones, go through connecting the dots from milestone 1 to milestone 30. Put small checks on the ones you are using.
Put them on separate pages and cut and paste from the webb the pertinent guidance you will be using to: assess, assimilate, gain facility in, learn to discuss with others, and learn to train others to use successfully. Do the cut and pasting by these five heading for your convenience.
William J O'Neill notes in LTMMIS, in the last chapter, 18 common mistakes made by traders. They are the opposites of the associated milestones. You have listed 30 milestones. Which miletones have the most common mistakes associated with them? What are the common mistakes made with the other milestones?
Markets have variables. Is it a mistake to leave out a variable?
NB: Volume leads price.
Here's a shortcut: Ignore that volume leads price and skip doing the charts and filling in the cells and making up 30 pages of milestones.
NB: What you learn by doing the charts is that you can't do the charts as yet.
Therefore, PA trading will never be elegant.
You all probably know when PA became a buzz word in recent years.
To measure the path to elegance in expert trading could be done.
It would be best done in terms of using principles carved in stone as milestones. None of the priniciples are trading or finance specific.
An alternative would be to use specific skill acquisitions as milestones.
Books are on many levels. My elucidation choice is as I write my five books is to go from level to level with regard to the mind of the reader.
A status report on the webb's current content with respect to milestones, is that less than half have been covered and more than half are yet to be articulated.
Most people can recognize the dicsussion levels like: Trade, Dick, trade, etc..... It is rarer to see disuccion levels that describe the next several trades in terms of specific data sets and the order in which they will be appearing and where and when (their locus).
Look at the list of 10 or 12 of the Greatest Traders You Have Never Heard of. Google the list and find that there are no PA traders.
Make a chart that goes from left to right across the top by labelling it with the skills levels you have heard of. Go from least to best.
Vertically list the five possible decisions a trader could be making at any time.
Fill in the cells with the frequency of each decision over a trading session.
Second. fill in the cells by ranking the order of importance of each of the types of decisions from 1 to5 where 1 is most important.
For a third time, fill in the cells ranking the ease of the decision from easiest (1) the hardest (5) for each skill level column.
On the fourth pass, fill in the more impotant milestone used for a given skill level for each of the 5 rows of types of decisions. For the 30 milestones, go through connecting the dots from milestone 1 to milestone 30. Put small checks on the ones you are using.
Put them on separate pages and cut and paste from the webb the pertinent guidance you will be using to: assess, assimilate, gain facility in, learn to discuss with others, and learn to train others to use successfully. Do the cut and pasting by these five heading for your convenience.
William J O'Neill notes in LTMMIS, in the last chapter, 18 common mistakes made by traders. They are the opposites of the associated milestones. You have listed 30 milestones. Which miletones have the most common mistakes associated with them? What are the common mistakes made with the other milestones?
Markets have variables. Is it a mistake to leave out a variable?
NB: Volume leads price.
Here's a shortcut: Ignore that volume leads price and skip doing the charts and filling in the cells and making up 30 pages of milestones.
NB: What you learn by doing the charts is that you can't do the charts as yet.
