Is this based on the training process used for NLP? Is this the same type of reasoning that Jack Hershey often refers to? Can you elaborate a bit on your style of trading and how it is different than what you have read about here at ET? (I think I have asked you this elsewhere before but didn't receive an answer). PS: My questions are an attempt to fulfill a curiousity I have about your posts. This is not meant to be a probe for an argument or anything. I'm simply interested in what you have to offer as far as ideas. Thanks.
Can you give an example of what you are referring to? A description of the method that contains the two? Brooks
I am curious about this also, I have always thought that trading is broadly described by two categories, mechanical the definition I prefer to use is a broad one, it allows trading decisions to be made on specific criteria or rules, that are always followed, either through an automated strategy or by a trader manually clicking the orders through discretionary again, I prefer a broad definition, trading is based on a specific criteria or rules, but which can be overridden or modified as the trader decides. In addition, I also include as discretionary trading, someone who has no specific rules and just trades each day on some sort of guesswork But you are implying there is more to this ? There is some other trading perspective not included in either of these two definitions? What trading approach would that be ? "If you don't start with the right enquiry, you are not going to ask the questions you need answering (in sequential development)" OK, please tell us then what is the right question to ask ?
It sounds to me that you are on the right path. Only very few ever get where you are now. You definitely need more work though. This may very well be the only GOOD nudge into the right direction that you may possibly get. nononsense
No, what I said was not NLP. I guess I'm going to have to spell out the obvious difference. Trading for a living. Here the aim is How much? You are attempting to produce a stream of sufficient profit which you wll happily extract to live on. The nature of your enquiry is to establish this stream. You will look for a way or system to produce this flow. Amassing a fortune. Here the the aim is How big? You are attempting amass a pile of money. The nature of your enquiry is to achieve this accumulation as quickly as possible. You will search for a way to start and multiply your profit. You might be able to see at once that the second enquiry is free from the need or desperation to produce a continuous, if haphazard, result from which you will take to live. Any net profit, your seed corn, is going to be wholly or largely spent on 'living'. If you cannot see that there is a significant difference between one enquiry and the other, then you must continue to, if you can at all, 'trade for a living', and keep dancing to the beat of the most common phrase at Elitetrader.
here's one article to give you more clues... http://en.wikipedia.org/wiki/Steven_A._Cohen Stevie undoubtedly employes both an analytical component to his trading (mostly for risk management) as well as a discretionary one (mostly for his entries).
Sounds like an interesting guy. I doubt if he's hiring and if so he's undoubtedly looking for MBAs from Wharton.