Sunday, September 04, 2011

Investing in the process

Here is a an interesting video that features a popular motivational speaker, Srikumar S. Rao. 

Professor Rao is certainly a good, entertaining speaker. But I like even more what he says. Not that this is terribly original, although he puts it in a somewhat novel way by talking about investing in the process and contrasting it with investing in the outcome.

Anyone, who has some knowledge of ancient history would recognize this as Seneca's insistence on focusing on the journey rather than the journey destination, but Professor Rao's way of phrasing basically the same thing may be more appealing to those coming from the investment world.

I like to stress the same thing in the KING e-mini trading course as well as on my website when I talk about commitment to trading practice. You cannot control your outcome, you cannot predict how good you will become in the tough emini trading business, but you can definitely dedicate yourself to the process of mastering the art of trading and do your best to enjoy this process.

It has also been my experience that those who understand this well are more likely to become successful traders than those who approach this business betting on some instant or near-instant miracle and when the miracle does not happen, get discouraged and abandon the whole thing.

Friday, September 02, 2011

The tale of two screenshots

They both show the results of my trading using KING, my original e-mini day trading methodology, which as you can see below works pretty darn well.

But there is some difference between them and I don't mean only the number of trades taken (12 and 10). The first one (just below) is older, form August 31, the other one is very recent for it shows the trades I took just today, September 2.

The difference I mean is that only the second of these screenshots (right below) has the time stamps in EST as do almost all of my other screenshots posted in the KING results section. The other is stamped with the time that is UTC-4 (and not UTC-5 or EST) or, in other words, belongs in the zone where the sun sets an hour earlier than on the US East Coast. Only some Canadians and a few folks in Greenland are privileged to live in this zone.

Why is it so? Well, my computer clock somehow failed to keep time properly over the last few days. Yep, strange things do happen. I am now a bit concerned how much I can trust it, but then again, it's not like this is very important or that it happens often. And as you can see, it definitely has no impact on the trading results because those depend on the trader first and foremost and only then on many other things, which is pretty much the moral of the whole story.

It's not really a trivial moral, even if  it may appear to be that way. Knowing that you are the most important enabler of your trading success is not necessarily widely accepted among wannabe traders, which is why folks like that keep searching for a Holy Grail, a device that would make the trader totally irrelevant. Alas, unless you have big pockets or big brains to design robust, fully automated systems, it ain't gonna happen.

Thursday, September 01, 2011

I have yet to meet ...

a finance guy that would not make me want to puke. If there are any exceptions, I am just not aware of them. Pardon my French, but that's just the way it is.

The greed, the arrogance, the egotism, and the incompetence of these people have to bug not only me, but I am afraid that they bug me more than many others.

Here is a very good movie about how those sociopaths have conspired throughout the history to control the money creation process. He who controls this process, controls the economy, and hence he controls the nation.

The US government does not issue its own currency, but it borrows it from the bankers who charge interest on it. You pay this interest with your taxes. Yes, they own you.