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Sunday, January 22, 2012

Blog update

In my "State of the blog" post I mentioned Michael would be making some guest posts. However, Michael decided not to move forward citing some reasonable concerns:

"I appreciate the opportunity but as I tried to distill my methodology into a post, I realized there was just too much subjectivity. The last thing I want to do is put something out there only to have people try to trade it and lose money, which is a feeling that you touched on in a post a while back. I have documented rules, but I've come to realize that those rules make up about 40% of what I do in a trade, with the other 60% being experience, instinct, and how I analyze price action. That's just too hard to document in a post."

There was more from Michael, but I understand his perspective. He did say he was going to try and work on it more, and may want to make a few posts in February.

On another note, I was humbled to get a mention from Brian Lund on his site. He referenced my post "Chasing Success", and how it changed his trading life. Here is a small excerpt:

"Remember, this was in pre-StockTwits days, and up until that point I had never heard somebody talk so plainly and in such a common sense way about trading. It was as if a lightning bolt struck me and shocked my out of my sinning ways.

It took a while to completely sink in and I had a number of stumbles along the way, but it was the beginning of the transformation of my trading life. I began to take a “trade less, make more” approach and narrowed the types of trading setups I took to just a handful."

Read his entire post here, and many thanks to him for the kind words!



Brian A. said...

Michael, we can all sign waivers that say we won't sue you if we lose money. :)

Times of Your Life said...

i can't agree more...
major part is experience

play small, play safe and one day things will hit you and you will be like "tada"....

Joe said...

I understand the trepidation, but at the end of the day everyone is responsible for the trades they take.

Tom said...

I know the feeling. It's easy to start worrying about whether what you tell people can be successfully applied, or if you are just setting them up for failure.