Candletrader might have been a bit too skeptical on Mark Weinstein record; however Candletrader has some excellant points on long run average. ==================================== Might finish well above average this bull elephant trend year; however average that in our below average first year of trading for a long run average. Average in real estate that didnt sell for years. ================= Some science[or Scientists] contain more truth than seems at first glance.Polar bears prefer below average temperatures; they were designed with hollow hair for best insulation. I CHOSE to have a below average electric bill; researched insulation standards in polar bear country. Live in mid south. ====================================== Make hay while the sun shines. Paraphrase of Solomon, trader king.
ES, I read that people organize their lives by 'scripts'. For example, going to the restaurant is a whole script of expectations of what will happen and when these things will happen. There are variations to the script at times but it remains pretty much a standard routine. Another example is the writing of Sandy Mack I posted called "The Chip". It is Sandy's routine for playing the market. I think what we, as traders, have to do is find a successful 'trading script' we can perform over and over again.
That is a very interesting take on things - I hadn't thought of it in those terms at all. Going ot a restaurant is a great example. - of course - having done it a few times, everyone knows what to expect and what order it will happen in. Funny thing is, switching modes at different times in the market is much the same isn't it. Thanks - I really hadn't thought of it in those temrs. - makes so much sense ot me. Best Natalie
It is a good way of thinking, but it isn't original...I just re-read the paragraph in the post that ES responded to. It said much the same thing in different words. Oh, well, a confluence of thought! Now, I wonder what's next?
I've used this article (parts of it) to help focus my mind on trading, when I was trading equities. Maybe, some of you will find it useful. Article: Metaphors for Trading by Ruth Barrons Roosevelt "Creation of empowering metaphors is one more tool you can use to enhance your trading. The metaphors you use regarding your trading have a direct impact on your approach to trading and consequently on your profitability. Usually we don't choose metaphors consciously and yet they're in the back of our minds guiding our interpretation of what's happening and our expectations of what will occur. Sometimes they support us and sometimes they don't. A metaphor is a comparison of one thing to another. "My love is a red, red rose." wrote the poet. Well, his love was not actually a red, red rose but he likened her to a red, red rose with it's beauty, it's fragrance, it's vulnerability, and so forth. Life's a bowl of cherries, say some. Life's the pits, say others. Life's a bitch and then you die. Or, Life's a bitch and then you marry her. It's a jungle out there. Life's a ball! A delicious smogasboard. A picnic. A contest. Life's a game. The Myth of Sisyphus tells the story of an extended life metaphor. Sisyphus was condemned for eternity to push a giant rock up a mountain and watch it roll down. Only to push it back up again. Try that as a metaphor for your life or your trading and notice how you feel. Now try saying that life or your trading is a sacred gift. And notice what that feels like. Metaphors are symbols and as such carry mythic power. They liken one thing to another and in so doing cause us to assume - quite unconsciously -- that what is true of one part of the comparison is also true of the other. Now, of course, if we addressed it logically and consciously we might say it wasn't so. A metaphor can bring instant beneficial power and can also bring nagging and persistent limitation. A limiting metaphor can be toxic to your life or trading. On the other hand, an ennabling metaphor can work wonders for you even while you sleep. Metaphors are subtle and as such, they can have a profound effect upon how we view ourselves, our lives, our trading, our work, our relationships with others. A metaphor is a symbolic representation of a belief and like a belief it's usually selected without conscious awareness. Sometimes a metaphor is simply part of the culture. It may or may not support us, so it's important to consciously review and consciously choose and use only helpful metaphors. These metaphors will be your behind the scenes nurturing guides. Think about the metaphors you use to describe living in general. Do you have one prevailing reference, in other words a primary or dominant metaphor for life? Or do you have a bunch of them? If so, are they all pretty much the same? These metaphors could be organizing your life, so ask yourself, "Do these thoughts support me?" If not, choose others. Let's look at some metaphors that traders and the trading culture as a whole use to depict and explain trading." The whole article and several others are free on her website. Her website: http://www.ruthroosevelt.com/index.html
This is how it all works as bdixon points out. You must have a set of perfect, precise pictures. For myself and my partner, we are oriented to Tad James. At a minimum it is worth considering Basic Training. I will attach two illustrations. The first is a Communications model and the next post is a history flow chart. The belief/behavior model we all need to understand is the basis for the only way you are going to be able to clean up messes in your trading to make it successful. You can read the dialog here on the last five pages here and see what is at hand vis a vis dealing with people's belief's and how they relate to performance. After you get the drift of the problems you personally have,then you, at least, can begin to face the situations. My experience shows only one avenue.