dbphoenix
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Getting back to the thread and the subject of discipline, the following -- which provides the context for the first post -- provides one rationale for the journal and for the continuous loop provided by the scientific method:
The students' reactions to their experiences will be reflected in the maintenance of a hypothetical portfolio containing a detailed explanation of the fundamental and technical analysis of each trade and its result. This "trading journal" is a fascinating and exciting assessment vehicle because it requires not positive or profitable results but rather a logical explanation of the possible reasons for the results based on an understanding of progressively acquired theoretical concepts. The idea is especially intriguing when one realizes that the "market" is the ultimate "ill or unstructured problem." Indeed, a problem so unstructured that research indicates less than twenty percent of its profession participants consistently solve it with any real degree of success. The reasons for such a high level of difficulty in finding consistently successful solutions is because rarely do any of us grow up learning how to operate in an arena that allows for complete freedom of creative expression with few external structures to restrict that expression in any way. Participants of the market trading environment of necessity must make up their own rules for entry and exit. The "problem," however, is that price movement is fluid, always in motion, quite unlike the relatively structured events to which most of us are accustomed. The decisions that confront the participant in the market are as endless as the price fluctuations. There is no beginning, no middle and no end-- these become concepts created by the participant.
-- Illinois Mathematics and Science Academy
Granted, there may be some who can accomplish all of this without working at it. But the rest of us just have to grind it out. 🙁
The students' reactions to their experiences will be reflected in the maintenance of a hypothetical portfolio containing a detailed explanation of the fundamental and technical analysis of each trade and its result. This "trading journal" is a fascinating and exciting assessment vehicle because it requires not positive or profitable results but rather a logical explanation of the possible reasons for the results based on an understanding of progressively acquired theoretical concepts. The idea is especially intriguing when one realizes that the "market" is the ultimate "ill or unstructured problem." Indeed, a problem so unstructured that research indicates less than twenty percent of its profession participants consistently solve it with any real degree of success. The reasons for such a high level of difficulty in finding consistently successful solutions is because rarely do any of us grow up learning how to operate in an arena that allows for complete freedom of creative expression with few external structures to restrict that expression in any way. Participants of the market trading environment of necessity must make up their own rules for entry and exit. The "problem," however, is that price movement is fluid, always in motion, quite unlike the relatively structured events to which most of us are accustomed. The decisions that confront the participant in the market are as endless as the price fluctuations. There is no beginning, no middle and no end-- these become concepts created by the participant.
-- Illinois Mathematics and Science Academy
Granted, there may be some who can accomplish all of this without working at it. But the rest of us just have to grind it out. 🙁