Quote from Thunderdog:
I'm not sure whether that means you are in agreement with me or not. In any event, I cannot think of a better term for taking a position on an as yet unknown outcome. The bet may be an intelligent one or a foolish one irrespective of the outcome, but it is a bet nonetheless.
The betting debate will go on forever. I meant that you have an orientation that regards being in the market as a bet. I stated"being in the market" to express a condition of being at risk as the essence of what you and I are discussing and will continue to discuss, I hope.
The fine point that I am, on the other hand, regarding as important is how a person sits in a trade in terms of his personal condition as the market rolls along.
The bet aspect is not in my consciousness as I trade to make money. I believe it is always a consideration for you.
Were a person, for whatever reason, to move from your position to my position, then a lot of remedial work has to be done. The work is required because of how the mind functions.
We are peers and I do not associate differences of opinion as the right and wrong game. I feel there is a propensity for people to move away from betting and towards making money as their principal theme. You are a person who has a place that is comprehensively established and rational. You, therefore, have a mind that has within it a comprehensive and well fashioned assessment mechanism that evaluates by comparisons where comparison is always possible. Making a change in this is only done by adding to what is there and as a consequence some past established stuff takes a back seat but is nevertheless available if summoned.
We do not agree. I pursue making money by using a routine that is operating to continually make money and not as an effort to continually place bets. each of these two techniques demands different approaches for the use of one's time. We do different things with the time we have.
I am also what you can see as a drill instructor who job it is is to get other instructors to turn out super marines. Drill instructors do not teach marines to bet. Drill instructors do not teach. they make marines do drills that cause the person doing the drill to become a marine. As an aside, I knew a crew of super marines. they wore EOP uniforms (Blazers with EOP seal and grey flannels). They were super. My adjunct at EOP was a full marine col and a grad of annapolis and formerly adjunct to the commander of the pacific fleet in Vietnam. He brought with him his motto "recon with power". VI's do not exist in the marine corp after basic. They are trained to not bet. They are trained to BE.
I feel that the alternative to betting is knowledge and skills. Comprehensive knowledge and skills engendered by following a critical path. I have walked back carefully and assiduously to to examine that path and to determine how to create the "walk" that is required to navigate that path without pitfalls to become knowledgeable and skilled.
One discoverable (early on)and basic component for consideration and flawless understanding is that knowing the scope and bounds of the market is mandatory. It is not easily attainable without using the mind to carry out the acquisition.
This is an alternative to obtaining betting knowledge and skills.
I found that by looking at all of the accoutrements I had "discovered and invented" that they were how I had built my mind through rediscovery, redesign, repetition of use and how they became subdivided into four serial repeated steps of making money. When I drilled myself for getting things straight, I found that I could mentor people up to speed (being comprehensive traders who did not trade edges) in a short while without their having to pay dues.
You have taken the other fork in the road as have most. Here is a quick illustration.
"In a similar line of thinking, it's been said that there are only three types of trade: breakout, reversion to the mean, and arbitrage (carry trade).
An exceptional trader works hard to develop an innate sense of which 'mode' the market is in, and acts accordingly in real time."
and this is added to to make it complete:
"Truer words have never been spoken, but it is so much deeper than this. Though, it is a good place to put down the base camp tent and work outwards from here...
BTW, there is one other mode, and that mode is the most interesting (and dangerous for the trader) mode of all...Entanglement..."
I read the breakdown as: B, R, A and E. is the universe of markets. Go for an "innate sense" and act accordingly.
It takes me three steps: monitoring, analysis and decision making for me to get to the point of acting. I see myself as a guy in an open work shirt working and using what is tried and true for me repeatedly over and over and over to be on point all the time.
I act continually at the end of every routine of monitoring, analysis and decision making. Not betting, but just acting to continue to make more money.
I do not have four types of trades (like theabove mentioned B, R, A and E). Trades imply to me entry and exit. I do not do monitoring, analysis, decision making and acting with respect to trades, much less four kinds of trades. I am not being more or less aggressive or doing money management or being a poker player either.
I do monitoring, analysis, decion making and I take timely actions. I have three basic categories of knowledge and skills that I have acquired. I walked back down the path I travelled to collect them and put them in these three categories: discoveries, basic aspects of the market, and incoming stuff from others. these things each and everyone, have a drill aspect now. They are placeable in the mind's trading framework by doing drills to enhance and strengthen the original framework that is established by simply powering up the approach. Say like, going out and playing a game of basketball a few times. A skeleton or framework called "basketball" is what any person can use to build upon using drills for monitoring, analysis, decision making and acting in a timely manner. Drills are source from discoveries, market basics and inputs from others. Because I mentor, I have canned them using conventional technology as it appears in the marketplace.
What I do is continually husband my positions. I am aware that there are 8 arenas that impinge on the husbandry. One of them encompasses the movement of the market operating point. The discovery is articulated over months and years. It is formulated with graphics of the math (logic). Graphics are annotated ( the drills begin). Relationships with other drills are seen and used.
The four mentioned items above (B, R, A and E) are just pips in the infinite scheme of things. entanglement is just, in fact, a catchall for all of the unknown surrounding the pips of Break out, reversion and whatever.
So we are in very different places. Most of ET is in a spectrum of places that are definable. It is said that I am assessing these places as beneath me and well beneath those who assess me. For me they are just different and there are reasons why.
Who can read seamless continuous trading as three words and make anything of it? Probably no one. That's the way the cookie crumbles. So give Jack so play scissors and drop a rock as big as a house on him. I am laughing.
I have a viewpoint that has grown from adapting a holistic systems analysis approach and pragmatically implementing it based upon the potential of the market to continually deliver capital to traders. It is a very very minority view.
you see me as a bettor because I have money in the markets. your view comes from the fact that you feel the market always contains risk for those who are in it. To go to the movies, you buy a ticket. To go in the market you take a risks. I minimize my personal risks with knowledge and kills that came rom wearing a work shirt for a long time. I minimize the market risks by only dealing with NOW and a repeated routine of monitoring, analysis decision making and acting in a timely manner.
4 out of 5 people think this is bullshit. So it is for them.
