Brilliant and insightful work, Duref. Reading your writings puts the pleasure in trading in far different way from the light of greed which shines behinds my eyes. Good trading, Jimmy Jam
Duref, I enjoyed your interview, amusing and informative. I look forward to the next one. and, Anek You're the mother F'ing man, Your AHG thread is one of the few where people aren't spitting on each other. Good Luck with your home project and look forward to you posting in AHG again. Thanks Duref and Anek.
Thank you, Booyah, but Anek made it happen. Stay tuned for Friday's post-market new interview. Will it be DBPhoenix back from the daid? Will it be Jack Hershey, physically alive but brain dead? Nononsense (whose absence is greatly lamented, and the only ETer who ever spontaneously recognized that I am an anagram?). EasyRider (the same). Vadym Graifer (missed in spades!) Don Bright? MarketSurfer? ProfLogic? Joe Doaks? (I'll give you some hints. It's not Spydertrader, whose response was "AYFSM?". It is not le Chien-Qui-Tonne (no, not the famous Parisian bistro), whose reply was unprintable on any but asbestos paper.)
Anekdoten tells me he has completed his Honey-Do's and is ready to continue. Funny. I thought that when I become a great trader like him I wouldn't have to do chores any more. Anekdoten, thanks for returning, especially after that overnight interview with Cassandra. How DO these people FIND ET? I am down to two questions. This one is new to the interview structure. Do you believe that books on trading offer practical value? If not, why not? And if so, which handful would you recommend that a newbie aspiring trader read?
Duref, My answer might surprise you, I've found most to be useless. Profitable trading is extremely dependent on the trader's ability and personal experience.. You would need a book written especially for yourself. Now, with that out of the way, some chart analysis teachings are useful especially if written by a trader who's willing to teach and not just profit from the reader. The only book i can recommend is "Trading Chart Patterns like a Pro" by Suri Duddella. You can order it from surinotes.com, I got no affiliation with the author. Excellent piece of work, it's a chart pattern bible, miles ahead of Bulkowski's work. Things like money management, discipline, and personal psychology barriers, that's between you and the screen. There are lots of good methods out there but which one is right for you is not an easy quest. In trading it pays to figure out things yourself, it's not too complicated either. Like driving a stick shift or riding a bike, swimming and the like, it requires hands on experience but once you learn you can hit auto pilot and do just fine. You need to find what your strengths and weakness are and target them accordingly and no book will ever do that unless it's written by yourself. So to finally answer your question, the best book you can ever read for trading is your own personal journal. If you have not got one, start today.... Anek
Hey, thanks for the lead on the book. I haven't read one for years since I figured out precious few of the authors had tested what they were touting. Not giving away anything too personal here, I don't think, but Spydertrader told me in a PM he doesn't read books, either. OK, I am down to my final question, unless you keep me going! Apropos of Spydie, you are also paying it back, and forward. Without getting into who you might have been in your former life here, can you comment on whether you are specifically paying back ET, or mentors or just tithing your good fortune for the benefit of all who will listen?
Duref, I never excelled much at anything, not in school, not in college not at my regular job. Hell, sometimes not even as a person. Same thing was happening in trading until I finally developed the skills. The feeling of making it and transcending from below-average to average to adept, in comparison to the rest, is extremely gratifying. Just being very successful at something, for once, I cannot put in words. It changes your life, for once you can simple breath and smile in peace. I could not think of anything else to do to show my appreciation and to set an example to my children and myself but to help at the only thing I have ever excelled at. Anek
Anek, how generous. But really I think you HAVE excelled at something, and that is MODESTY! I think that except for your modesty you are ET writ large. We either have never before found something we are good at, or perversely don't like doing what we are naturally good at. I am 62, and have had multiple moderately successful careers, but I always wanted to do something really exceptional, really TOUGH. It's an ego thing, but I have rarely been able to say "I can do something that only hundreds or a few thousands of people in the world can do". How many of us are like that? You are an inspiration to us because you feed your family by trading, and, incomprehensibly, you are willing to teach us to do the same, possibly ultimately at your own expense. Thank you for this interview, and please feel free to close with any remarks you would care to make.
Thank you for the privilege and for feeding the community with quality work. In the name of support, resistance and averaging up..... Anek
Anek, thank you so much for your time. You have been most gracious and given us a valuable perspective into the mind of a successful trader. I doubt that I could ever be of service to you, but please don't hesitate to PM me if you wish to bounce ideas off me or share experiences. Best regards. Now, gentle readers, it is YOUR thread! Have at it if you wish!