nitro doesn't love me... OK, I'm just kiddin' Seriously... I think I've met one of the best discretionary trader around in Chicago. They can't be duplicated... You just have to be yourself. Period. A rare serious post... Bwahahahahahahahahahahahahaha... OK, not so serious....
scratch that name Terminator, I just had some strange dude show up on my door step , dressed in leather biker boots and long black leather jacket, he mumbeled something about some chick name Sara Conners living here, i stated, no one by that name, who are you ......he didnt even blink, much like Steve Forbs, who has not blinked to this day, anyways, he said something about Terminator and he will be back. You know, he kinda reminded me of the Govern of Cali, ........put probably some Drunk Texan lost or something, ......hey, no thats BUSH....nevermind,
Gann, Technique is one thing. Innate talent yet another, and style yet a third. And then there is balls. Technique is achievable by every trader worth his salt. Talent, well, better have some of it, but it is not definable. Style is probably the easiest and most personal, but easily duplicated. BALLS is what separates great from mediocre once you have everything else in place. nitro
ER, just noticed this thread. I know Neisykay, as she did sit with me & D.B. back in '96, which was D's first ever 7 figure year. After pulling up the charts of the symbols mentioned here (MAMA, TASR, IUSA, SNTO, DCTH, WAVX, EMRG, IVAN, GMAI, NSSC, SVVS) ...all I have to say is- that boring crap goes for 'good trading' these days? Yikes! That'll send me running back to partypoker in a hurry.
OK... lemme elaborate before I start agreeing and disagreeing. Easy way, I think, is in this term is by relatively deducing... OK... let's say there's 2 people with "similar" styles... 1. Technique is different but rest is the same. I'd say relatively similar equity curve.... just some minor differences, short term. 2. Style is different but rest is the same. Just different equity curve, but positive expectancy. 3. Balls. I think it's the limitation in exponential growth. Also, larger run-ups and drawdown. Considering the technique and style (or edge, which I take it as), haing a positive expectancy... B/E... 4. Talent. This is the hard part... I personally take it as the rate of growth or adaptation to it's market condition. I feel that talent in the market is the ability to react the changes in condition and changing accordingly. Well, that's my simple and rather adridged definition. So which would be important, in an isolated term. Yes... balls are the most important. But traders aren't that simple... I think a superb trader is a trader who has the 4 aspects (well just from the opinion of yours, I have different criterias but... that's not really the point and not something debatable), working together in an objective action. Taking the underlying criterias into one single action in "harmony" is what is important. Now... can you duplicate that... no... I"m not a firm believer of "finding your own style" type as in Trading Psychology book's shallow idea... You don't find or seek but it's in a sense mere coincidence based on your objectivity. ..... Well now that mentioned... My conclusion which would, probably be same as you, is... that you can get into the edge and logic of others and learn off it. But it eventually stops where your mentality is at. You can get into another's mind but can't be it. It just adds variety to your thought process rather than taking it "higher". PS. DON'T CALL ME GANN!!! BWAHAHAHAHAAHAHAHHAHAHHAHA... I'll call you Shreddy... if you do... he he he... PSS. What are you doing up so late? He he he... ja ja ja
Rearden - Thank you. As the thread started, it was a simple honest question from someone working hard at daytrading again. It used to be inspiring to sit in that room as well as to hear some of the guys from NY. I just wanted to hear about other people's experience. Anyone who knows me knows that I am honest and genuine. As I said, I regret leaving that room because the job didn't turn out to be so great and I gave up a great opportunity to be sitting with such successful traders. I don't understand why ERT feels the need to treat me or talk to me in this way - I have no idea who he is or what his deal is. It certainly does make me feel badly that he would throw needless crap at me for asking an honest question - based on what I believe to be were the facts of 96 and 97. To everyone else, who has added insight or value or information they believe to be true, I appreciate it.