The Million $$$ Quest 2006
- Thread starter Ripley
- Start date
Well I have a moment here before going to dinner.
First I have to say that reading Ripley's last comments it is clear that he is engaging in what I was taught to call a
"Loser's Dialogue"
Each item was clearly the type of thing a loser would say AFTER losing.
NOW here is a quote from the first page of this journal. The author of the quote is Ray Kelley, a trader whom I admire very much
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"Large traders trade more zeros than small traders, but the process is the same," Kelly says. "Both on the upside and the downside."
The catalyst for destruction, Kelly says, is most often ego.
Ego is the Ebola virus to the active trader.
There is an antidote, however â balance, humility and the ability to accept being wrong.
Can you or I become infected? Of course we can!
What can be done to protect against ego and its devastating effects?
Kelly says pay close, introspective attention to the following four areas: Self-knowledge, market knowledge, trading strategy and risk management. Answer the hard questions for yourself, before the market does. Like meditation, or exercise, attention must be paid each day for maximum effectiveness."
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If it were me having this difficult, instead of bitching about it like this, I think I might try going back to the basic ideas that successful traders like Ray Kelley have mentioned.
Steve
First I have to say that reading Ripley's last comments it is clear that he is engaging in what I was taught to call a
"Loser's Dialogue"
Each item was clearly the type of thing a loser would say AFTER losing.
NOW here is a quote from the first page of this journal. The author of the quote is Ray Kelley, a trader whom I admire very much
-------------------------------------------------------
"Large traders trade more zeros than small traders, but the process is the same," Kelly says. "Both on the upside and the downside."
The catalyst for destruction, Kelly says, is most often ego.
Ego is the Ebola virus to the active trader.
There is an antidote, however â balance, humility and the ability to accept being wrong.
Can you or I become infected? Of course we can!
What can be done to protect against ego and its devastating effects?
Kelly says pay close, introspective attention to the following four areas: Self-knowledge, market knowledge, trading strategy and risk management. Answer the hard questions for yourself, before the market does. Like meditation, or exercise, attention must be paid each day for maximum effectiveness."
---------------------------------------------------------
If it were me having this difficult, instead of bitching about it like this, I think I might try going back to the basic ideas that successful traders like Ray Kelley have mentioned.
Steve
Vacations, Weddings etc etc... I haven't really traded much to be really honest with you.
I never thought I would say this, because I was all about hardcore trading everyday. But, taking time off from trading is healthy and it also rejuvantes you. It really makes you look at trading from a different perspective.
If your edge is going to suffer because you take couple of days off, you lose your feel etc.. that is NOT AN EDGE. An EDGE is when you can take days off, even do something else all day and make a trade on the whim when all the stars align and still be alright. Thats what true edge is.
09/01/06 Friday: I am OUT
I must not return to this website till ONE YEAR from today. I'll be day trading next on 09/01/07 I am off & gone to a land where there are no internet connections.
My numbers for this year: around -$8,000 NOT BAD.
But, I realized enough to learn how some great traders can return 100%s per year. I know how they do it and I can do it. Thus, you haven't heard the last of me YET.
...ah no senitmental tears... cut cut cut...
I'm OUT & I'll be back for you.
I must not return to this website till ONE YEAR from today. I'll be day trading next on 09/01/07 I am off & gone to a land where there are no internet connections.
My numbers for this year: around -$8,000 NOT BAD.
But, I realized enough to learn how some great traders can return 100%s per year. I know how they do it and I can do it. Thus, you haven't heard the last of me YET.
...ah no senitmental tears... cut cut cut...
I'm OUT & I'll be back for you.
hey ripley..... i made half of that just from my mutual funds that i picked carefully 8 weeks ago.... i love it... easy $$. Congrads on your good year. I dont know when i will be trading again...... I have found an inner peace..... living life the best i can..... I will post more on this next week.
WELCOME BACK!!!!
