March 24th 2008
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I am re-reading one of my all-time favorite trading books “Trader Vic - Methods of a Wall Street Master
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Vic says point blank:
“Don’t do your friends a favor by offering them unsolicited advice on any market position.”
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4 Comments »
dsb on 24 Mar 2008 at 4:53 am #
Like it or not, each of us must take responsiblity for our actions. Maybe everyone goes through a period of time, thinking that there is a trading setup that they have not found and jump around to different trading styles. I have certainly been one to think that somehow everyone else must know better than me.
Personally, I enjoy reading different ideas on the approach to trading, I love talking (reading) your post and a few others since I have not even one person that I can actually talk to about the market.
Keep up the good work, I find trading ideas interesting.
Tyro on 24 Mar 2008 at 7:16 am #
I’ve enjoyed reading your trading ideas but I’m a new swing trader, so what the hell do I know? Your writing is worth returning for without any picks, so feel free to take your blog in whichever direction pleases you without worrying that you’ll drive us away.
Alex on 24 Mar 2008 at 2:21 pm #
I think it is better to show someone how to fish than to give him the fish. At your place I would not talk about setups in advance…just talk about it after the fact.
Jonathan on 25 Mar 2008 at 5:35 pm #
@dsb: Thanks for the feedback. I’m like being able to read others ideas as well.
@Tyro: Hey Thanks for the complement. I’m not totally moving away from ideas, but I think I’m going to try to use them to illustrate a concept or something like that…
@Alex: I agree with you, but I’m undecided on when to share the idea. There’s a lot of blogs that do both. I kind of like what I started doing. Giving the setup and following it each week until I sold.