Lesson 9

[Trader Question]

I’ve slowed down a bit here as I’m “grinding” my way through lesson 9.

I like the comment that “you never said it would be easy”. I enjoy study and mental stimulation; so the fact that it’s not easy is a good thing. Most things that are valuable or worth while, don’t come easy. However, I will be glad when I’m finished with the course and can take what I’ve learned and make a lot of money

JJ

[pldot]

There will be several places in the course when the going is not easy, and this is entirely due to the fact that we were likely crazed overachievers and put too much in, too many examples, and on occasion more complexity than is necessary. There are a few dense sections in Lessons 11-15 and a few in 15-20 that resulted from the particular life crises in the authors at the time of writing the course. Best advice when encountering those spots (beside cursing the authors) is to take it in small chunks, and not try to do too much in one sitting, or skip some of the examples and come back to them for later review. If you do that however, make very certain you understand the underlying point that is being made, advice which holds throughout the course and is why we recommend that you make a one-page précis of the material in each lesson and also that you create a brief index of what is covered on which screens in which lessons to facilitate your later review.



You should have enough under your belt now to get a lot out of the daily "mogs" that Charlie is posting in the www.pldot.com website.

[Trader Question]

Thanks Ted. I haven’t got to the point of cursing the authors yet, J and I doubt if I will. I probably won’t skip anything either…maybe just not dwell on it too long. I do agree with the idea of not being in a big hurry to give money to other traders, and to take 6-12 months to absorb and learn P & L before trading the concepts. I plan on going back through the course a second time; especially areas that are hard to comprehend the first time through. Psychologically I’m in excellent condition, and I don’t want to trade too soon and risk doing damage to myself before I have an excellent grasp on this material, and can utilize it with skill and confidence. I can see the power of these concepts and have made money on paper already using them. However, patience is a virtue, and “I’m becoming a more patient person everyday”...Mark Douglas.


JJ

[pldot]

Most people do find that a second review after they have the whole picture laid out makes a huge difference in their ability to use the material productively. Also I mention once more that the current material on www.pldot.com in Charlie's area ("mogs") should be followed. They are removed on a short-term rolling basis to make way for new material and so are a continuing small seminar series dealing with current markets. This is uniquely valuable.

[Trader Question]

I‘ve watched a couple of the screencast videos before I knew the jargon, but yesterday I couldn’t get them to run with Firefox or Explorer; I guess the bugs are still being worked out. The daily videos are what you’re talking about right? Is anything else on the site important for me to check out?

JJ

[pldot]

The reason why I am urging you to follow these daily videos (mogs) is that they are time-sensitive, and are removed weekly. Other material stays there more or less permanently, and you can catch up with it later. There is a lot of excellent material in the more permanent postings, I'll let you find that which you like yourself. It is generally high quality, though some items are boring. Maybe watch the "talking to myself" series. Everntually you should cover everything, but not before you have finished the Lessons and reviewd them well.