Mike805 Excellent post ................................................................. Price movements are parametric waves... As much as waves have varied parametric inertial movement....so do prices... Excellent post Mike805...
Thats why I don't surf. "Jaws" messed me up badly. Then while in the Navy I thought what better way to get over my shark phobia than to confront it head on by becoming a Navy diver. Plus it will be cool being underwater in tropical locales seeing cool stuff. Plus you get to wear a really big knife strapped to your leg. Whats the downside? It sounded good in theory but then I spent a few years breaking the ice to get into the water. Swimming in harbors where the mud was so thick you couldn't see 1 inch. Then there was the pollution, you had to jam your ears full of vaseline in order to dive in naples harbor so the bacteria couldn't get in your ears. Not like I planned. Plus I still fear sharks. But then again I do have some good stories to tell.
Never had a close shark encounter (knock on wood)... but I have surfed in conditions that just beat the shit out of me. During my recent trip to Indonesia I recieved a few permanent tatoos courtesey of the reef. Note these weren't as bad as one I got a few years back ~ that time I almost lost my nipple, along with most of the skin surrounding. There have been many other eye opening encounters with the reef... good memories though. If there is one thing the ocean can teach you is to never, ever feel invincible.... Market/Natural forces have about 1000 ways to remind you of how little you really matter - predators aside. Mike
Maybe they glossed over it because Douglas doesn't put that much emphasis on it himself. I haven't read this book but have heard it is like his previous one, 'the disciplined trader'. In which he states something to the effect that someone can buy an off the shelf method as there are many available. Pretty sure he also mentioned that the system doesn't even have to be profitable, as the focus was more on everything BUT the system. I'd have to re-read again to be sure. I have read you mention how important a consistently proftable trading strategy is, while I agree with you, I don't think his book clearly emphasized that. Kindest wishes, MK