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Archive through January 21, 2004 loki 25 1 21-Jan-04  01:35 am

Archive through 08 August, 2003 spider 25 1 08-Aug-03  02:44 pm

Archive through 26 February, 2003 spider 25 1 26-Feb-03  11:12 am

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wadda

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Post Number: 256
Registered: 10-2002

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Wednesday, January 21, 2004 - 09:55 am:

G'day Loki,

Sounds like you have plenty of reading to do!!!

IMHO, and being a lazy reader, I have only STUDIED (note the difference from READ) IC's Trading Guide (it was free), Weinstein as above and one that has been regularly recommended Elder's Trading For A Living.

I see value in a Candlestick book but I don't want to confuse myself too much yet with too many books!

I guess it all depends at what stage of trading you're at - I find with the resources I have at the moment that it is more than enough to study and importantly re-study several months down the track. Besides the more i read Weinstein the more worn out the cover gets and that's a good thing!!!

Happy reading/studying,

Wadda

"Buy low, sell high is a cliche, not a blueprint for action. It blinds investors to the professionals' approach of buying high and selling higher." Stan Weinstein

spider

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Wednesday, January 21, 2004 - 02:23 pm:

Yo loki,
spider likes Swager.
But I do think that I commented once that I could not understand why he was having trouble with his own trading (his words) after having interviewed so many cool traders.

spider.

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"If you start out depressed everything's kind of a pleasant surprise." from the movie 'Say Anything'.

"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!" - Jesse Livermore

loki

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Thursday, January 22, 2004 - 02:03 am:

Hi wadda

plenty of reading(studying) is correct. in fact i'm looping around again, just as you pick up different points in movies the 2nd time round, it's the same with books don't you agree?

I am in the v.early stages i guess you would say, just learning and watching atm. Is Elders book more to do with psychology, or part methodology aswell?

---

Spider on Schwager: my mistake, thought you didn't like the fella. In his 2nd book, there is something that might interest you in his personal reflection at the end. He states that he doesn't actually like trading, rather he likes the 'puzzle' and trying to solve it. He also states that he has learned that you must find a style for your personality and that trading isn't his. However he does say his progress has accelerated since switching to system trading as it cancels out the emotional strain that he exp trading, causing his dislike for it. and around we go.

loki

wadda

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Thursday, January 22, 2004 - 09:22 am:

Hi Loki,

Although Elder is a practicing psychiatrist his book of 10 chapters only has 3 dealing with psychology: Individual Psychology, Crowd Psychology and Psychological Indicators.

The remainder deal with methodology.

There is also a work book that can be purchased with the book that is excellent.

Cheers,

Wadda

"Buy low, sell high is a cliche, not a blueprint for action. It blinds investors to the professionals' approach of buying high and selling higher." Stan Weinstein

spider

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Thursday, January 22, 2004 - 11:13 am:

Yo loki,
interesting, what you had to say about Schwager.
You can feel it in his writing.
I feel sorry for anyone that does not enjoy trading (most of the time).

spider.

.

trademaker

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Post Number: 53
Registered: 09-2003

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Wednesday, February 04, 2004 - 07:26 am:

Hello Traders/Investors

I read this article this morning and thought it might be interesting to others.

http://www.marketmasters.com.au/articles/explosionwaitingtohappen.php

Later TradeMaker

spider

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Wednesday, February 04, 2004 - 04:19 pm:

You are going to absolutely LOVE this one ...............

http://www.theage.com.au/articles/2004/02/03/1075776058426.html

This is the photo that goes with the article, just in case you run into this guy somewhere...........

spider

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Sunday, February 15, 2004 - 01:06 pm:

Quote from today's Age..............
"Results from the country's biggest social science survey suggest it is relatively easy to get rich but hard to stay that way."

Interesting.

http://www.theage.com.au/articles/2004/02/14/1076548271788.html

spider.

.

"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!" - Jesse Livermore

spider

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Sunday, February 15, 2004 - 01:14 pm:

From the same article................

"The survey shows that wealth - the assets people can fall back on - had a bigger effect on happiness than income. Life satisfaction hardly shifts with income but rises with wealth."

.

i_claudius

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Post Number: 1357
Registered: 11-2002

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Sunday, February 15, 2004 - 01:30 pm:

Money in and of itself has no value

If you were trapped in ice and snow you could only use it to light a fire and then only if you had matches

It is the things for which money is exchanged that have value ... money is for us what pebbles were to stone age man ...

In the end we can take nothing with us but we can exchange money for things that matter ... as opposed to things that don't

What matters to people varies widely

Some will squander money on almost anything

Values don't come from money ... they come from experience and wisdom ... and these are beyond price ...

Some care only for the pleasures they can bring to themselves ... others find pleasure in bringing pleasure to others ....

With Best Wishes

(Message edited by I_Claudius on February 15, 2004)

Roger (Executor of the Claudius Literary Estate)

QUOTATION :- "Never stop questioning" ... Posted by Bundy in the Options and Derivatives Forum on Friday, 16 January, 2004 - 21:40

spider

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Sunday, February 15, 2004 - 11:03 pm:

Nicely spoken my roman friend.

Money cannot buy you happiness, but it can be used to fund a committee to find out why not!

spider.

.

spider

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Saturday, April 24, 2004 - 11:50 pm:

This is a 'MUST READ ARTICLE'!

http://www.theage.com.au/articles/2004/04/23/1082616327709.html?from=storyrhs

spider.

.

"The only time I really ever lost money was when I broke my own rules." - Jesse Livermore

"When choosing between two evils, I always like to try the one I've never tried before."
- Mae West

stevo

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Post Number: 161
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Sunday, April 25, 2004 - 10:30 am:

Thanks Spider, great read.

The article is very similar to an article in the AFR late last year by David Bassanese - "Before investing, know thyself".

It is reproduced at the following site;
http://www.partnershipfp.com.au/Articles/Financial%20Review%20Before%20investing ,%20know%20thyself.htm

stevo

spider

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Thursday, June 24, 2004 - 11:52 am:

One up for the 'number dudes'!

http://www.theage.com.au/articles/2004/06/24/1087845018860.html

spider.

.

"The only time I really ever lost money was when I broke my own rules." - Jesse Livermore

"Which ever game you play, you do need to press the out button pretty quick if it has not done its deed." Scalper.

spider

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Thursday, June 24, 2004 - 11:55 am:

http://www.theage.com.au/articles/2004/06/23/1087845007586.html?from=storylhs

.

hilarius

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Thursday, June 24, 2004 - 12:56 pm:

Hello Spider

Seems like roulette wheels are like stocks ... they have little design flaws that the analyst needs to understand

As to NCP most people I know complain that NCP has too big an influence on the Index, so maybe we would better off without it?

Let NCP swim in a bigger pond if it wants to ... it shouldn't affect the chart of NCP in the long run ... and may give a short term buying opportunity if the index funds sell it off

Alternatively someone could easily construct an index that puts NCP back in

Thanks for the interesting reading

With Best Wishes

Hilarius

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

spider

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Thursday, June 24, 2004 - 04:27 pm:

Just a brief insight into Tony Robbins......................

Even Cinderella would marvel at Anthony Robbins' fairy tale life. Robbins transformed himself from a lonely, overweight man with only a high-school diploma and no money into the powerhouse behind Robbins Research International Inc., a human development training business that earned more than $50 million in gross revenue in 1996.

How did this man, who used to sell music cassettes door to door, become an inspiration for some of the most powerful business owners in the world? In this exclusive interview, Anthony Robbins reveals the truth behind fairy-tale and shows how you too can turn your life around.

Ladies and gentlemen, enjoy this powerful and open frank discussion with Mr. Anthony Robbins...

Knowledge Bank: At what point in your life did you start your quest for knowledge and achievement?

Robbins: I started my quest for knowledge as early as the fifth grade - I studied Mars, the physical elements, how light worked. Then, somewhere between the ages of 13 and 15, I became obsessed with finding out how to make your life work. I started the basic positive thinking books, and I got into philosophy. I became the 'solutions man' at high school - when people had challenges, they would come to me and I would always find the answer. I loved doing that; I got addicted to it. That early experienced help set my current direction.

Knowledge Bank: If someone who didn't know you came up to you and asked, "What do you do?" how would you respond?

Robbins: I'd smile and say: "A lot of things." I'm in the business of helping people turn their dreams into reality. I'm a peak performance consultant.

Knowledge Bank: What are the most important lessons you hope business owners learn from your book Awaken The Giant Within?

Robbins: Business owners must know the purpose of their business before they start. The purpose of a company is not to make money. Anyone reading this probably thinks I'm absolutely crazy. I make tons of money, but that's not my purpose.

Our purpose is what drives us. And if all you're driven by is making money, you're going to make poor decisions. There are many ways to make money by cutting costs, but in cutting costs, you cut the very lifeblood of your company.

Once you know that the purpose of your company is to improve the quality of you customers' lives, then every day, no matter how well you're doing, you have to find a way to do better. This doesn't have to be a giant innovation - it can be just a tiny enhancement, because if you make a tiny enhancement every day, you soon gain the momentum to dominate your industry.

You must also know that the same level of thinking that has gotten you where you are will not get you where you want to go. Often, new entrepreneurs are infamous for being so optimistic for being so optimistic; they don't look at the downside. I used to be one of those people, and it for me in trouble. If you're running east looking for the sunset, I don't care how much you believe or how disciplined you are, you're going to be disappointed.

The bottom line is you must have the courage of your conviction. You must be flexible in your approach but committed to your vision of making a difference. When everyone says there's no way to make it work, you have to find a way.

Knowledge Bank: Do you believe some people are born entrepreneurs and others are born employees?

Robbins: There are only born baby boys and baby girls in this world. I've never seen a born entrepreneur. I think that's a fallacy. I think every skill in life is learnable if you are committed enough, if you change your beliefs, if you hold yourself to a higher standard and if you develop an effective strategy.

I believe all of us were put here to make a difference in each other's quality of life. And I think some of us realise that and search for a set of tools and strategies, and some of us never wake up and discover the power that's already there.

Knowledge Bank: Why do so many businesses during the start-up phase?

Robbins: One of the reasons entrepreneurs fail is because they don't want to do the hard things involved in start-up. For years, I was working my guts out and getting very little reward. In most businesses, there's a "true grit" phase that lasts anywhere from one to five years, when you're just establishing your name, market and ability. In the beginning of any business it takes 10 units of effort to get one unit of reward, but if it is your absolute passion, it won't feel like work at all. And if you make it through the true grit phase, one unit of effort will eventually net you 10 units of reward.

Although (starting a business) may seem hard, it's the most joyous thing you could imagine. Most successful entrepreneurs' fondest memories - the things we talk about when we get together - are the toughest times we had. It was during those times that we probably grew the most.

.

Julieann

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Post Number: 41
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Thursday, June 24, 2004 - 05:19 pm:

Thanks Spider. I read that book in 1998 at a time when I was just about to give up everything. (Life included). It was the turning point for me and one book I'll always be greatful for having read.

spider

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Thursday, July 01, 2004 - 04:50 pm:

Australian market up 16% for the fin' year............ how did your trading pool fare?

http://www.theage.com.au/articles/2004/06/30/1088488026341.html?from=storylhs

.

trademaker

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Post Number: 58
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Sunday, July 25, 2004 - 11:25 am:

Hello traders/invetors

I found an interesting article on the web

http://www.finance.news.com.au/common/story_page/0,4057,10201113%255E14302,00.ht ml

Whats other peoples opinion about the subject.

To me the article seems to come across very aggressive. It seems to tell you what you CAN and CANNOT do....

TradeMaker

perler59

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Sunday, July 25, 2004 - 12:35 pm:

"The amateur day trader is little more than cannon fodder for professional traders." Agreed, but what about the professional day trader? The writer sounds like a disillusioned ex trader :-)

"Ultimately success in market trading comes down to our ability to manage ourselves rather than managing others. It is NOT a widespread skill."

Daryl Guppy - Trend Trading

stevo

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Post Number: 197
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Sunday, July 25, 2004 - 06:28 pm:

The "cannon fodder" statement is from Travis Morien.

http://www.travismorien.com/

Look at the investment facts side of this site - some good articles can be found.

I would think that there are a lot of disallusioned day traders around!

stevo

spider

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Friday, October 08, 2004 - 07:29 pm:

MIND GAMES: Make the most of your day.

Anthony Robbins.

http://www.anthonyrobbins.com/NextLevel/OCT04/Career/index.html

.

"Take all you can, and don't give anything back!"
Captain Jack Sparrow.

ingot54

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Post Number: 150
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Friday, October 08, 2004 - 10:10 pm:

Ah, Spider - you've just broken your motto ("Take all you can, and don't give anything back").

Mate, there are times in one's life when all one needs is a word of encouragement, or a pointer in the right direction.

The link you posted is a trimmer. I am certain this info will be most welcome at its next destination, as it already has been for myself.

Thanks, spider. I count you as a giver - damn Jack Sparrow!

"That's Life" does not explain anything!!

daz

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Tuesday, October 19, 2004 - 09:23 am:

Today's Nightly Business Report broadcast in Australia on SBS TV 12:30-1:00pm AEST Tues 19 OCT 04 is scheduled to interview Sam Weinstein. Also check transcripts on their website nbr.com for 18 Oct 2004.

kez

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Tuesday, October 19, 2004 - 09:21 pm:

Thanks Daz for this information. I presume you mean 12.30am. Will set the VCR for it.

Kez

macca888

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Wednesday, October 20, 2004 - 11:50 am:

This is from the site www.nbr.com

FRIDAY, October 22
MARKET MONITOR: Co-Anchor Paul Kangas interviews Stan Weinstein, Editor-Publisher of Global Trend Alert, about the stock market's performance and outlook.

This should show on SBS on this Saturday, 23rd October, at 12:30pm.

spider

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Monday, October 31, 2005 - 12:39 pm:

An article by Joe Ross.

It's a discussion as to the merits of trading.

I love the hypocrisy of religion questioning the morality of trading!

http://www.moneybags.com.au/article.asp?id=308&j=38

spider

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Monday, October 31, 2005 - 12:41 pm:

This one is a bit more interesting..................

http://www.moneybags.com.au/article.asp?id=309&j=38

spider

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Wednesday, November 16, 2005 - 06:49 pm:

An article on patterns by Leon Wilson (?)

http://www.moneybags.com.au/article.asp?id=315&j=38

longshanks

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Thursday, November 17, 2005 - 11:33 am:

thanks for the links spider!

The simple things in life are often the best.

candice

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Friday, January 06, 2006 - 06:43 pm:

Hi,

I am new to trading and was wondering could anyone give me a few ideas where to get good information to expand my knowledge on trading?

Thanks...