Glad my Gold hedged me along the way
Dislikedcrucial posts narafa, i can see youve learned a lot from dr. tharp. thanks for the refresher courseIgnored
DislikedYa Merlin, I actually got a lot of information from the book of Dr. Tharp...This man is really great and I really admire him very much and have a huge respect towards him...
I think this is what they call the Eureka Moment, if Diallist can remember his post about the 5 stages
a question: Does Dr. Tharp trade currencies or just stocks? Remember that Forex and stocks are 2 different animals. What works for stocks may not work for currencies and vice versa.Ignored
I am kind of a newbie to this Forex thing myself, but I do know a thing or two about markets. Yes it is a zero sum game, but as long as it is expanding there is room for everybody. Lets look at it this way. If I go down to my local Pigly-Wigly Market and buy a 12 pack a Pepsi, they are going to rip me off for 5% margin (or spread if you want to look at like that). Now I could get all upset and think that the market was rigged against me, just because my wife went to Sams Club and got Pepsi for a lot less.
So the next day is Satururday and we have a yard sale, and it is realy hot. It gets like 42C here in the summer (105F). There are a lot of swetty shoppers, I ice up a bunch of Pepsi and sell them for twice what I paid for them. Im I conspring aginst the shoppers? Taking advantage of them? No I am just working the market. There was a buyer and a seller. We were both willing and we knew the risk. and we got what we wanted.Ignored
DislikedTo my knowledge, Dr. Tharp doesn't trade at all...Ignored
DislikedI got this tip from the "Market Wizards", the last interview was with Dr. Tharp, and when Shwager asked him why he don't trade, he said that he likes what he is doing (Mentoring traders, giving out seminars and so on), so it's not a matter if you trade or not, it's a matter if you like what you are doing or not...
DislikedThen there is very little point in reading him... There is a big cliff between THEORETICAL and PRACTICAL knowledge. MM depends a lot about the time of mathematical model of price, and you can't talk about One-Size-Fits-All because there isn't one.Ignored
DislikedI agree that there is a big difference between theoritical and practical knowledge, but Dr. Tharp studied the behavior of hundreds of traders through questionnaires, 1 to 1 interviews, books written by those exact traders and so on before he created his views and theoritical points...
DislikedI still think that personal trading experience is the best... Just because you know everything about Aerodynamics and aircraft engineering, it doesn't make you a good pilot. Talking about flying and flying are totally different thing...
Happy Holidays to All!!!Ignored
DislikedI still think that personal trading experience is the best... Just because you know everything about Aerodynamics and aircraft engineering, it doesn't make you a good pilot. Talking about flying and flying are totally different thing...Ignored
DislikedI very much agree that first hand experience >>>> theory knowledge, specially when it comes to something as down-to-earth and brutal as trading. That is why I dont pay attention to book writer or market erudites. I only listen to those people who trade real money because they are the ones who wrestle with the market every day.Ignored
DislikedPlease remember too that many many great people who created theories were non-practioners and had ZERO field experience...
Einstein never entered a lab in his whole life, yet he is one of the most brillian scientists in history...Ignored
DislikedYes Nader, I do agree that in some fields it might very well be possible to obtain a valid opinion exclusively off theorical research (such as Einstein and all his mathematics/phisics work). However, there are other fields in which you OUGHT to be down in the pit to have a real understanding of what it all is about, and trading with real money is one of those fields.
For example: what would you think of an army general who was never a soldier in any battle, having graduated straight from the army academy into the high ranks and thus leading men into real combat? well, I feel the same about trading. It is just one of those things you gotta get your hands dirty if you truly wanna get a feeling of it.Ignored
DislikedI get free drinks when gamblingIgnored