weekend aftermarket lounge 25-28th may, page-2

Some discussion today re baz's 17 win run - amazing really! Must have been doing something right. But I learnt the hard way that I needed to be careful not to confuse my trading skill with a hot market - (not saying this necessarily applies in this case, but worth a thought)

lounge ponderings

- sometimes if you are successful immediately, it may give a false sense of what constitutes skilled trading - have heard some say that the best lessons are learned by early losing trades.

- one trading guru rkns you need to carefully analyse your trading history and ID when/where you have your winning streaks (he admits to a 5 trade winning streak, then his profitability dives). Talks about payout/payback cycles.

- another guru (can't remember who) has a sign above his screen saying something to the effect that "this trade has the potential to damage me"

- then another one rkns trading is a losing game, you need to assume your are wrong until proven correct - most traders keep their positions until it proves wrong for them, he says don't keep a position unless it proves to be correct.

(sources: Bo Yoder, Phantom of the Pits, Stock Market Wizards)