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October 17 - 31, 2006

 

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Questions

(Quotes from Ed in Red)

Answers

Mon, 30 Oct 2006


Relationship Progress


My girlfriend and I have a weekly meeting where we share our feelings about our relationship. At our previous meeting she asks me to check my feelings at my next tribe meeting about two situations:

1. I tell her I feel my grandma is evil. She does not accept my feeling. I get pissed at her because she does not accept my feeling and in turn don't accept her feeling of "being weirded out."

2. She gets jealous because I talk to a female friend on the phone in whom I have no romantic interest whatsoever. I get pissed at her because she doesn't believe me. She says she does, but she still feels jealous. I don't accept her feeling and expect her to change.

After she points it out to me I realize that I do not accept her feelings in either situation. I take my feelings to my tribe.

 

At the meeting I get into the form of not wanting to deal with this. I go with the process. Eventually I arrive at the form of "I am guilty". I keep saying this, eventually I start saying this in German (my native language): "Ich hab schuld, Ich hab schuld!" It feels great to openly experience this feeling. After my hotseat I don't remember how I got to the feeling and totally forget about the situations my girlfriend challenges me on.

Yesterday we have another meeting. She asks me if I looked into the issue. I hesitate for a second ... AHA. Yes, when she doesn't accept me, I feel I am doing something wrong. I need her approval, otherwise I feel guilty. This is liberating as I feel I can accept her, while also accepting and respecting my feelings.

I am thankful to have such a wonderful girlfriend.

Thank you for sharing your process.

 

 

Relationship

 

The dynamics reflect the interplay of

the programming of both parties

 

Relationships develop properties of their own

such as "comfortable distance."

 

 

Clip: http://www.carltonartgallery.com/

warren_dennis_gallery.htm

Sun, 29 Oct 2006

 

Apprentice


Ed, I've read of people being your apprentice for you in the past and was wondering if you still do this?

I sometimes have space for an apprentice who wants to work hard in exchange for room and board.

Sun, 29 Oct 2006

 

Day Trading Video


Dear Ed,

Please find attached a little video of a young trader trying to day trade the DAX.

Kindest regards to you and yours.

 

Day Trader Video  

Nice forms.

Sat, 28 Oct 2006

 

Dryer Lint

 

Confirmation or shoot me down in flames?



It has been 40 years since I was in college, so pardon that some things are somewhat more dim.

Found your site while searching the web to review Bernoulli's principal for the following practical problem:

I just finished cleaning an astonishing amount of lint clogging the dryer exhaust pipe (std. 4" dia). This was not an easy task, but a necessary one for the efficiency of the dryer and safety in that a lint clogged exhaust is a fire hazard.

So instead of going to sleep, the mind started grinding away, - it seems a fact of life that ALL dryers expel some lint that gets past even a religiously maintained lint filter in the machine. This winds up in the exhaust airs tream, and in some installations the exhaust piping can be a long run with a few right angle bends in it.

So - can I design a lint filter to put onto the exhaust that can be easily cleaned and low restriction?

The concept is air coming from the dryer carrying some residual lint goes into an expansion chamber, and then exits back though the same diameter (4") piping. If the incoming air stream enters from a 4" diameter pipe with a 4pi cross sectional area, and the cross sectional area of the expansion chamber is 4 x 9 (rectangular is easy for me to fabricate (and would have a Plexiglas cover so I could see if lint has accumulated and is easily opened for cleaning, I would anticipate a ~3x reduction in airflow velocity which would (I hope) allow the lint to drop to the bottom of the chamber. Air would be vented from the top of the chamber through and regain most of it's input velocity, in theory sans lint?

Lint particles are small and light. The "settling time" for lint particles is likely considerably longer than their "transit time" through your plenum.  Thus, your device is likely to pass most of the lint straight through.

 

The most effective small particle removal systems use small gauge filters, electrostatics, etc.

 

 

 

Dryer Pelts

 

If you are careful removing the lint

from your dryer screen

you can assemble an interesting collection

of "dryer pelts."

 

 

Clip: http://bakedbeats.com/poptart/images/lint.jpg

Sat, 28 Oct 2006

 

Jade

Hi Ed,


I spend a good Sunday with my wife & kids, working out and re-reading the Jade Master from The Trader's Window and allowing my mind and body to catch up with my soul from a busy week of trading.

 

As I muse and meditate on your parable for its purpose & meaning, I discover a different perspective of looking at trading, living and training the martial arts.

Before I gain Mastery, I must become a good student. I seek knowledge within and without (learn from a Master). I am willing to pay (trade) my price (risk) in exchange for my success (reward). I empty all pre-conceived bias, opinion and prejudice to become available to new ideas and information. I experience the new ideas for myself by doing, acting and practicing. My focus is on my lessons and my learnings, NOT the Master's methods and his teachings. I learn from mistakes by trial. I discover my Truth from seeking within. I try not to repeat mistakes.

Thank you for sharing your process.

 

 

 

 

Jade

 

In the Jade Master fable, when an apprentice comes to work every morning the Master hands him some Jade pieces, usually just fragments.  The Master then pontificates about politics, religion and sex.  After several months the young apprentice comes to the Jade Master and says, "I quit. I come here to learn the Jade trade and all you do is talk about politics, religion and sex."  The Master laughs and hands the boy a precious looking stone, "What's this?" he asks his apprentice.  "I don't know what it is. I do know it's not Jade."

 

Clip: http://www.nada.kth.se/~asa/bilder/jade.gif

Sat, 28 Oct 2006

 

Likes TSP


Ed,

Thank you sincerely for presenting the Trading System Project. I have learned more than many book reads! I canít wait to see more.

OK.

Sat, 28 Oct 2006

 

Grieving


I wish to share with the greater trading tribe. I grieve my trading losses. I grieve them today. I feel and experience the feeling that losses generate.

I thank my trading tribe for supporting me in feeling my trading losses. On the hot seat I experienced my feelings about loss. I felt these feelings and I experience them.

Thank you for sharing your process.

 

For more about grieving, and how we are handling it with the Rocks Process, see the link to Rocks, above.

 

 

 

Grieving

 

A natural, healthy

and essential response

to loss.

 

Clip: http://www.nancysherman.net/grief.html

Sat, 28 Oct 2006

 

Definition of Heat


Ed,

Iíve been studying the Trading System Project for a couple of days, but I canít find a mathematical definition of ďheatĒ. Is it given somewhere on the site?

Heat is a qualitative term relating to portfolio risk exposure and also to the risk on a trade. 

 

Examples:

 

This client can't take the volatility, so we are trading him at 1/2 heat (1/2 as many contracts per million as the norm).

 

I'm taking 150 points of heat on this trade.  (My protective stop is 150 points below my entry price).

 

 

 

If You Can't Stand The Heat

 

take something off

 

 

Clip: http://www.pierresilber.com/sexybikinis1.html

Sat, 28 Oct 2006

 

An Idea For Your Site
 


Dear Ed,


Thanks a million for your insightful comments.

 

"You might consider noticing the feeling that comes up just before you engage the drama".

 

I will try to do this when I feel them coming on.

Also your suggestion that I could be using my "drama like a drug" was probably correct.

The human mind is indeed highly complex!

I have an idea for your site, but I do have a selfish reason for this but that aside I think it will be well received by readers.

As most participants of your site are system traders / programmers, its likely that a resource centre for programmers to share their ideas, and seek programming help would be popular.

You could make it like a bulletin board, where readers could post follow ups to respond to the questions of others.

Of course you can edit them, or remove material which you deem as unsuitable.

Its clear you have a large number of high caliber readers here, and this could bring a new dimension to your site.

Perhaps to make allowance for your time in doing it, you could make a small $50 annual membership charge?

[Code with some problems]


I don't expect you to fix this for me Ed, but perhaps you could post it, and see if anyone has an interest in the above scheme? Or if anyone can find a solution perhaps your could post my email address with it.

Thank you for the suggestion. 

 

I like answer FAQ's personally. 

 

I do not intend to charge for this site - although you can send me as much money as you please. 

 

You might consider consulting with a programmer about your coding problem.

 

 

 

FAQ is Free

 

If you'd like to send in money

please feel free to do so.

 

 

Clip: http://www.americanhomeguides.com/

membership/net_vs_paper.html

Sat, 28 Oct 2006

 

Long Side


Hello Ed,

It has been too long since we have connected. For some reason the issue of self-awareness came up tonight which made me think of our many conversations.

 

I have been so entrenched in the world of hedge funds it would be good to catch up. Your observations about shorting and long short managers of several years ago have truly played out.

 

The one lesson that I have learned from you and have always remembered is that the money is to be made on the long side.

Thank you for staying in touch.

Fri, 27 Oct 2006

 

Workshop


I commit to next workshop

I finally drop dim. I attend a Tribe in another city.

My intentions are to remove knots.

My preliminary results ("feelings") are hard to rationally explain, but I feel good.

Events came up that I didn't even remember.

Thanks for the effort.

I notice your glossary is improved and refined.

History has shown emotional domain to be largely play of manipulation, this is very interesting.

Thank you for sharing your process.

Thu, 26 Oct 2006


Houston Up and Running


We had the first tribe meeting in Houston with wonderful results. Three members to start and breakthroughs already!!!

OK.

Thu, 26 Oct 2006

 

Family Tribe Grows


Monday 23, 2006: my daughter is born ! I'm proud to say it to all of you out there !!! After all, we share a piece of life here on Ed's FAQ as a giant tribe and I feel such a wonderful feeling to welcome our child in my little family one.

Congratulations!

Wed, 25 Oct 2006

 

K-not Formation in Kids


Sir,

Knot formation in kids - your views on noticing them during their formation and steps to be taken to avoid them, during their upbringing.

We tend to tie k-nots in our kids that match our own. 

 

We are typically not aware of doing this.

 

The best way to avoid tying k-nots in your kids is to untie your own k-nots.

 

 

Tue, 24 Oct 2006

 

Hot Experience at Work


Hi Ed

I hope you are well. I know you are traveling and hope you are having a great time. Just want to write you because my life have been improving dramatically and I started to really get good result from practicing snapshot + TTP.

 

The introducing snapshots ... turned out not good because I was in "Should Mode" and some drama occurred and Fred sensed that I was not welcome back to that tribe and that's OK. I learned a lot from it.

 

[I am now] moving forward and members are experiencing positive improvements. My relationship snapshot ... basically identified serious K-not. Guilty-Knot. TTP member helped me tremendously to feel the Guilt and was a tremendous experience.

 

I notice that my excessive drinking, and eating create temporary pleasure yet at the end a tremendous guilt. I go to TTP website and search Guilt and many FAQ finally made sense.

 

Not being able to pay bills got lot to do with Guilt I guess. Anyway I was feeling great with this new discovery and observing myself however today at work some serious drama occurred. My secret right livelihood snapshot was to pay off Uncle Sam that I owe from 2003.

 

Finally with my improvement in cash flow allow me to pay off everything this week to put an end to this drama. However there was a catch and I was few hundred bucks short so I go to my assistant to request advance from this month's production.

 

I have lots of money in this month and feel totally comfortable asking for this advance. Then few hours ago while I was working my ass off on the phone my boss distracts me to ask all kinds of question about the advance.

 

I told him the story and showed him all my documents in the mean time I am asking what the hell he give a damn for I mean its my money. Basically none of his damn business. "Are you OK with money?" I been paying my own bills since I was 15 and here this girl telling him about my personal business after telling me there nothing wrong with asking for advance since its my money.

 

Long story short I was so hot I raised lots of money in few hours. Obviously this was a drama. May be its because I missed the tribe meeting today. May be it's not a good FAQ.

 

You might just toss it. But a thank you for everything and I been pretty good with holding the position now.  I guess markets good but I believe the big contribution is getting my life together step by step and Risk Management. Surprisingly another tribe might have a first meeting next week. Then again it might just be me setting up for disappointment like what happen today at work. Good luck and thank you for your contribution dearly sir, you are a wonderful person.

Thank you for sharing your process.

 

 

 

Giving Advice and Even Orders

 

rarely changes patterns

that your Rocks control

 

 

Clip: http://www.sonofthesouth.net/

uncle-sam/no-drinking-sign.htm

Tue, 24 Oct 2006

 

Trust


In response to today's reading of "Rocks"
http://www.seykota.com/tribe/Rocks/index.htm .

I work with dogs and horses. My job is to help animals with "problem" behaviors become more compatible with the people charged with their care. Often, an animal has a train of traumas that can be identified and addressed.

 

The fear is response to a perceived big scary shadow. It is what happens when a mental object (trauma memory) is mistaken for a current threat. The repellent behaviors peel away as the old trauma is revealed as dead. New experience is the lever that displaces the old trauma. Trust is the fulcrum. Presence in the living moment is the result.

There is no reason for a horse to be afraid of the plastic grocery bag blowing through the barn, but he is likely to hurt himself or someone else trying to get away from it. He is terrified.

 

So, we establish confidence (invest time) in my leadership (to build trust). The bag blows by (we confront the reflection of old trauma). The horse reacts. The leader does not. The bag blows by ... We repeat the process until the horse is following the energy of leader (reacting with quiet assurance) and in the process discovers that the bag is just a bag. Time, trust and confrontation bring us back to quiet Presence.

Perhaps our rocks are not foreign forms of solidified minerals, but are petrified tissue. Maybe they were skin, our most protective organ, that is not shed; a collection of scabs and scars.

 

The resulting mass is an obstruction that is sloughed away only when we discover more value in its absence than in its presence. Unaddressed, the rock collects other detritus, the refuse of dramas.

 

Unaddressed, the rock becomes a way of life and we pass on the injury (ies) that make for similar rocks. A big enough rock with powerful drama (s) becomes obsession (addiction?) and seems big enough to dominate much of our attention and energies. In addiction we spend our time in an eddy full of stale water swirling around a big stinky rock instead of flowing along the hills and fields, across the topography of life. We are afraid. We hide.

Trust gives me the faith to risk releasing myself from the old life around the rock. Trust is the flowing fresh water. I call trust, "confidence in my self, in my choices in my friends". Trust is confidence in my leadership of my own life. Much of the leadership consists of surrender. Go figure.

Thanks, Ed, for being who you are and for sharing what you feel. It helps me trust.

In many cases, we are now able to locate critical incidents (such as might make someone react with "irrational" fear) and re-program new resources - all in an hour or two.  

 

For more on this, see Rocks, above.

 

 

 

Horses

 

may have feelings, too.

 

Clip: http://7art-screensavers.com/screenshots/

Graceful_Horses/white-horses.jpg

Mon, 23 Oct 2006

 

Starting a Commodity Pool


Hi Ed,

I hope all is well with you. Since I move back home, I ... have done extensive research and I take and pass the series 3 the Friday before last. My intention is to start a commodity pool. I feel disappointment when you take down the Trading Tribe Associate link.

 

What is the status of that project? If you have no interest in pursuing that project, are you available to discuss/test the results of my trading system and offer some words of wisdom in regards to starting a commodity pool (compliance, marketing, and operations)?

 

I am willing to pay for your services and come to see you if that is necessary. I have attached the results of my system. Thanks again for sharing and inspiring me to get to this point. I really like the addition of Rocks to TTP. It is very helpful to my evolution.

Sincerely,

I am currently assisting some people.  If you would like me to assist you, tell me what you want me to do.

Mon, 23 Oct 2006

 

Ed Seykota Interview


Dear Ed:

I enjoyed reading about you in Market Wizards and Trend Followers.

I'm working on a project ... I was wondering if you would be willing to answer four or five simple questions (by email) about the financial markets and trading in particular.

The interview should be featured in [Publication] in about a week. Of course we would provide a link to your website -- or to a destination of your choice.

Please let me know if there's an interest or a fit.

You may send your questions in to FAQ and then send your readers to FAQ to get the answers.

Fri, 20 Oct 2006

 

Update on the Rocks Process

 
Hi Ed,

Just an hour ago I was in the exact same situation, or even worse, that I had been shortly before I went into the rocks process. This gives a perfect chance for comparing reactions, feelings and behavior connected to that situation before and after the process.

The rock came into play in situations where I had to deal with conflicts, either between me and other people or between people who are close to me. The conflicts typically where not brought up by myself, but brought to me. That might be family members fighting with each other, or someone being frustrated with my actions. Coming out of a family that dealt with conflicts in cold war manor, never saying anything, leaving it alone, I came up with a very specific behavior of how to deal with that. In times of crises I would typically get a headache, be on the verge of crying. As the conflicts gets worse I am unable to think. My brain literally shuts down to a Stand by mode. It feels like a black mist is lowering. This goes as far as I really do not know what the conflict is all about. I want to run away and ease the pain.

I used this behavior in all kind of situations. Family, work, friends. Results were not satisfying, because by getting rid of the problem by shutting down and running away I missed out on several good things in live.

The first time I can remember using this rock is around a time my father tried to explain math to me at 4th grade. Math is one of my specialties and I normally do not have any problems understanding it. However the way my father explained it made no sense to me at all. After a while he would get very frustrated telling me that this is very easy and he just cannot understand how I canít get it. After I while I could not take it anymore, my brain shut down, I would cry and beg him to stop or run away.

Replaying these scenes brought me back to this situation with an immense intensity. The table I sat on looked exactly the same as the one of my childhood. The person who played my father even smelled like him. The situation is very real and I can see clearly what I am doing. It feels comfortable. In the second run of the role play the comfort disappears when I realize where this behavior takes me and what the results are.

 

The rock in my hand that holds all this, feels acid. I get detached from it and almost have to laugh. Not accepting the rock leaves me with a dazzled feeling, not knowing who I really am. It is a feeling of wonder I remember from a long time ago as a child when you wake up in the morning and are curious what the new day will bring. The warm, salvaged feeling I always had when someone took a conflict away from me is not there anymore. It is replaced by a feeling of responsibility for my actions and with curiosity where this situation will lead. Especially the feeling of responsibility for my actions is very high.

Today I am back in the same conflict situation as before and I almost have to say I like it. I try to find out what might come out of it and move on. Of the physical reactions a very slight headache still remained. The rest is totally gone. The headache was interestingly the only part of the pattern I did not consciously address in the process. I keep it for know as an indicator for specific situations. The connection I have to this symptom has changed. I feel the light headache and at the same moment I feel my childhood ďwonderĒ-feeling and responsibility. It is still weird but I like it a lot.

I really appreciate the help from the tribe. Thank you. My life is getting better with you.

Thank you for sharing your process.  For more on Rocks, see the link above.

 

 

 

Rocks

 

We are currently

skipping along to the

next step in TTP.

 

 

Clip: http://www.pbase.com/jwalk/image/23396340

Fri, 20 Oct 2006

 

Space


Hi Ed,

I am thinking about how space in music creates music and how space between my trades creates profits for me.

Spaces between letters make words more legible.

 

 

 

Space

 

is the stuff

between you and there.

 

 

Clip: http://www.aiai.ed.ac.uk/~bat/ga/SC-MODEL/IMRIE/GALLERY/bat-space-1.jpg

Fri, 20 Oct 2006

 

Cross-Check Discrepancy
 

Hello Ed,

I have written some C++ code to test your Exponential Average Crossover system. My fast lag (15) matches yours, but my slow lag (150) is a little off. This results in one extra trade for my system (as indicated by the example metrics I've pasted), and one trade that is started a day early. The other trades match up.

Thank you for sharing your process.

Thu, 19 Oct 2006


Thanks


I'm just dropping you a quick note to say thank you. Your teaching style is very frustrating at first but I'm really coming to understand how you help people and you have helped me quite a lot.

You thank me (and others) best by living your own life to the fullest.

Wed, 18 Oct 2006

 

Dow Breaking Out

The DOW is breaking out!

Along with buying breakouts and riding winners, remember that Trend Trading includes managing risk and cutting losses.

Tue, 17 Oct 2006

 

Altruist


Hello Ed,

Okay, I'm taking the FIRST BIG STEP and I'm leaving my job w/ security and benefits ... to help someone else successfully create their vision.

I want to pursue my own desires, but for some reason I feel compelled, at this time, to help another other person successfully launch their enterprise. The benefit is that I can demonstrate to others in the industry, "I did this. I made this happen, and I can do it at any time."

For some reason, I feel this is right. I know I can successfully spend my time and energy launching my business but, at this time, I prefer to help my neighbor plant seeds in his field for harvest. What is this altruistic B.S.? I am sincerely interested in your thoughts?

You might like to check the recent materials on the Rock Process for ideas on how to identify and re-program deep tendencies - such as helping others without building in a way to help yourself.

 

Plumber's Helper

 

does the dirty work

and gets no pay.

 

 

Clip: http://img.epinions.com/images/opti/d4/

fd/Chicago_Specialty_Li_l_Rose_Toilet_

Plunger_Shop_Tools-resized200.jpg

Tue, 17 Oct 2006

 
Please Help Us Educate Our Kids


Dear Mr. Seykota,


We have $50,000.00 cash to invest over the next 5-10 years for our two children's college education. This is money we inherited form our parents. We are prepared to let you manage it without ever questioning your methodology or interfering with any decision you make. In fact, we are so confident of your ability to manage money, we are prepared to loose it all.

We are currently home schooling our two children with the intention for them to become medical doctors. Our thirteen year old daughter is already studying for her GED and next year we plan for her to begin her SAT studies. As you can surmise we take the education of our two children very seriously.

Please help us by managing our children college finance.

Thank you for your prompt consideration.

I wonder if you plan to support your children in running their own lives - without ever questioning their methodology or interfering with any of their decisions.

 

 

 

Micro Managing Your Kids

 

may give them a life long need

 

for someone to tell them

what do do.

 

 

Clip: http://www.stuartdiamond.com/stuartdiamond/

Steppingstones/principles.htm

Tue, 17 Oct 2006

 

Trying to Make a Living


Good Morning Mr. Seykota or perhaps Good Evening? I am trying to trade from my cottage outside [City]. I have read some books including Market Wizards where you are being interviewed from your nice house by the lake ...

I have been out of work the last 3 years. It doesn't give me anything, its either low pay, or horrendous conditions. Overtime etc. So I am trying to make a living here for my self.

Can I please get some advice what is most important to think about.

 

Furthermore I do not have any contacts in the stock market. Only wealthy people can call their broker and ask some questions.

You might consider taking some of your feelings about wealthy people to a Tribe Meeting.

 

 

 

Brokers

 

don't have all the answers either.

 

 

Clip: http://news.bbc.co.uk/1/hi/in_depth/

uk/2000/newsmakers/2285287.stm

Tue, 17 Oct 2006


TSP


Hi Ed!

I recently finished my test with trading both, gold and S&P500, simultaneously, so I can confirm your results from your diversification study.

OK.

Tue, 17 Oct 2006


Rocks


I read Rocks and would like to find out more information about how to participate.

Iím a member of the City Tribe, and could come to Incline meetings to learn more.

I am preparing some materials for this site and for the January 2007 Workshop.

Tue, 17 Oct 2006

 

Donchian Trading Rules


Hi,

I have begun reading the long list of FAQs. I noticed that many hyperlinks do not work. Is there a reason for pulling them down? Could you tell me where I can find Donchian's trading rules?

Try Resources, above

Tue, 17 Oct 2006


TSP - Trading System Project
 
Hi,

Here is my solution to the exponential crossover TSP.

The benchmark does not come to the exact figure shown on the TSP example. I got to this figure by multiplying the previous dayís total by 1+(ln 32.71667904 / 5870), 32.71667904 being the ratio of the target benchmark and 5870 being the number of days the system covered. I think the difference is down to rounding on excel.

My next step it to take it onto a more sophisticated program where by I can use the parameters across different markets and find optimal rules more easily.

For anyone struggling to crack basic problems in constructing this in excel I am happy for you to look at my example and see how I approached the problem. Also if anyone has any better solution in excel then Iíd be pleased to see it.

A problem I encountered with this is the automation in calculating bliss, in this solution I manually found it for the one set of parameters and simply used the quoted figure in TSP for the second set. Of course without finding bliss there is no measure for optimization and as such I canít progress. This is something that has stumped me for months and is now holding me back and if anyone can shed any light on this Iíd appreciate it.

Another problem I am finding is that different markets I download for the same period might have different days removed for public holidays. This means giving a portfolio equity level isnít simple as adding equity on the same line in different markets is adding different dates together. I struggle to see a way around this without manually going through the data and inserting or removing days so they line up. Iím sure in more sophisticated programs there is perhaps an easier solution.

Still, I feel a sense of pride in having matched the equity to a penny and that will spur me on to find answers to future problems.

This exercise has rewarded me and stretched me and I would encourage anyone to take it on, your programming skills could not be worse than mine and I made a go of it.

It has also taken the fear from the market for me as I can see why the system is trading and what might cause it to trade again.

Iím finding it tough to build a system but know when I do I will stick to it. I get frustrated reading about people with good systems and enough equity to make it work and earn a living from it who wonít stick to it. I feel I offer half of the equation already and am working on building the other half and feel reaching zero variance as an Associate will be instant for me.

Thank you for sharing your process.