Trading and New Experiences

I like to think that I love to try new experiences, especially if it comes to trading. Hence my willingness to try the course by Pride Educators (http://www.tradewithpride.com/) and my testing of Dynamic Trading Bars (http://www.trade2win.com/store/dynamic-trading-bars-p141.html). Sometimes I read a book/books for the sheer joy of viewing an event from a different perspective.

I have to admit, however, that in this field of new experiences, I more than met my match in a student and friend, Ms Ana Wang. She has packed enough experiences to last two lifetimes (www.anatrader.com).

Last year she dragged me kicking and screaming into participating in a trading competition. In my 30-years as a trader, I had never entered a trading competition. Partially because I feel that winning a comp requires different risk management skills to long-term success and partially because…well I was afraid. What if I did poorly in public? Horrors!

Ana would have none of it. She said she needed only a hand with the position sizing – she’d take care of the rest. Well those that know Ana will know just how hard it is to refuse her once she makes up her mind. So in we went and ran second in an exciting competition. She was beaten on the last day by a little under 2% – after having led for much of the second half.

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Daniels Results

I loved the experience and while it is unlikely I’d do it again, I am more than glad to have taken part.

Last month, Ana was at it again. She started an advisory newsletter on trading. Again this is an area I refuse to venture into. While I think that it’s a legitimate source of assistance, its main drawback is that subscribers tend to heed entry suggestions and ignore position sizing and trade management advices (at least that’s what I did in my losing years).

As usual, Ana will have none of it. She started the newsletter (www.awanginvest.com) and has just ended a 2-week free trial for RSS subscribers.

What does this have to do with trading?

Like Charlie Munger, I believe trading is enhanced by a willingness to expand our horizons beyond our comfort zones. Most times, most of us rationalize our failure to move beyond our comfort limits and then bemoan that our lives are not as rich as we would have liked.

I believe that in trading, as in life, the greater our range of experiences and the more we learn from them, the richer our lives become. Ana would never forgive me if I revealed her age. But her willingness to venture forth, at an age when conservatism is said to be the norm, would put the younger generation to shame.

7 thoughts on “Trading and New Experiences”

  1. I believe Ana has enriched many lives of people less fortunate than ourselves.I think the world is a better place for having her in it. Dare i say it but i look forward to her comments as much as i enjoy your blog.!!! cheers Baz

  2. What can I say, Ray? But thanks for your kind words.

    Since I love reading avidly, prolific writing is the natural flow in my daily routine.

    I then woke up one morning with this brainwave to start my own newsletter IDkit which is almost free to all except for the Subscription corner which will give me a little bread and butter.

    I could not do this without your support as my Consultant to ensure I do not veer away from good trading methodologies.

    My aims are clear, to help newbies mainly. I find it gratifying that in just over 14 days, IDkit has launched ‘more than a thousand faceless visitors’. Sounds like ‘Helen of Troy’ whose face launched a thousand ships!

    Do visit me at http://www.awanginvest.com
    and you may find a pointer or two to help you in your trading.

  3. Yes, Ray very wise decision not to mention anything about age !. Ana best of luck with your writing and good for you – sure you’ll do fine

  4. Thank you, Tom.

    There is a saying: you can ask a guy how old he is but not a lady.

    However, if you read in between the lines, you can guess the range I must be in.

    Not revealing my age has nothing to do with the usual phobia of my gender; I just get a kick out of you guys doing the quiz among yourselves.

    Besides, Chinese women do keep their age well and most importantly, I feel ‘young’ or ‘youthful’ and just as active as any old enough to be my children!

    ONLY DON’T ASK ME THIS QUESTION!

    Hope your leprechaun in the backyard is turning his magic wand for you.

    All good wishes to you and family
    Ana aka IDkit

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