Trading for a Living

kkseal · #11 23rd May 2007, 09:47 PM

Quote:

Originally Posted by Saint

One can trade a single setup again and again and all over again,day after day,shamelessly pulling money out of the markets.

Agree.

Quote:

Once again,we are back to that all important word: Discipline

Beg to differ. Discipline is a good defense but you can't win a war by just defending your borders.
(It's 'all important' only when one is trading randomly)

Regards,
Kalyan.

uasish · #12 23rd May 2007, 10:21 PM

Kalyan,

Who has won a war being indisipline.

Asish
The aborigines were wiped out not only due to superrior Gun power but with disiplined soldiers.

beginner_av · #13 23rd May 2007, 10:50 PM

Quote:

Originally Posted by kkseal

Beg to differ. Discipline is a good defense but you can't win a war by just defending your borders.
(It's 'all important' only when one is trading randomly)

Regards,
Kalyan.

The ultimate discipline takes the form of a mech. trading system.

uasish · #14 23rd May 2007, 11:23 PM

Yes & mech.trading to get rid of subjectivism,while trading,back testing alleys the fear ,now max draw down & consequtive loss is also accounted for.
Truly enjoyable with less 'Stress'.

ratan jain · #15 24th May 2007, 01:05 AM

how many years till system trading is allowed.... I wonder...

although I suspect big institutions are already into it via some platform.....

I would love to take the decision making process out of my trading.

kkseal · #16 24th May 2007, 01:40 AM

Quote:

Originally Posted by uasish

Kalyan,

Who has won a war being indisipline.

Asish
The aborigines were wiped out not only due to superrior Gun power but with disiplined soldiers.

My objection is not towards discipline per se but only to it being cited as all important - as if nothing else matters. That way anyone can trade randomly with strict stops and emerge a winner.

Regards,
Kalyan.

How long did Saddam's disciplined (& fiercely loyal) Republican Guards last before the cruise missiles & stealth bombers?

kkseal · #17 24th May 2007, 01:52 AM

It would be good if mechanical systems ruled. That would probably make the markets more predictable. But i doubt if they ever will. 'Coz markets change, economies change, technologies change, the whole world order changes. Only one thing imho remains constant

At any time, in any market, buying needs to exceed selling to push up prices & vice versa.

Regards,
Kalyan.

Saint · #18 24th May 2007, 02:47 AM

Quote:

Beg to differ. Discipline is a good defense but you can't win a war by just defending your borders.
(It's 'all important' only when one is trading randomly)

Regards,
Kalyan.

....ah,my friend,are we too sure that discipline is not required in the regular,systematic, clinical ,merciless offence of the markets day after day?

But again,we are all entitled to our own opinions....

Saint

Saint · #19 24th May 2007, 03:10 AM

Quote:

Originally Posted by kkseal

My objection is not towards discipline per se but only to it being cited as all important - as if nothing else matters. That way anyone can trade randomly with strict stops and emerge a winner.

Regards,
Kalyan.

Risk management is not the be all and end all of trading success.Trade selection matters.Entry strategies matter.Having a trading plan matters.

..........and probably many other things that do not readily come to mind(sorry,lack of sleep,yawn!!)......but along with them all,the discipline to execute them all.

And about the word,all important

.............let me rephrase that line : Discipline is,for me,an all important word.As always,I am merely sharing what I consider as all important.

Saint

ps:I find it difficult to believe that I have spent 2 posts trying to emphasise the importance of discipline in trading,though....something that I thought was common sense.I have been a doctor for many years,but the discipline required to be a trader is far greater,.....so just sharing.

Saint · #20 24th May 2007, 03:12 AM

Quote:

Originally Posted by beginner_av

The ultimate discipline takes the form of a mech. trading system.

..........couldn't agree more.

Saint

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