FAQ
December 01-31, 2019
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Dec 30, 2019
Mumbai Tribe Meeting Report
Dear Sir,
With TM1,TM2,TM3 & TM5 attending, we begin with drumming and proceed to check in.
Check In (In Speaking Order)
TM2 (I) - I begin with an update on my snapshot. I am happy at
the progress the developers are making and I feel it is on the right
track. For another project, I decide to do the work alone or with a
different set of partner's. I am happy for my father, who is about to
take the next step into his professional journey. I
wish to take my romantic and sex life to the Hotseat, but I am unsure
of whether I am hot enough. I share that I feel lonely in general, not
just romantically.
TM3 - He shares that the past 3 weeks have been uneventful. The systems have been flat although he expects markets to trend up
from January 2020. On family front, he has been spending some time with
family which he feels is much needed and is happy about it. He has
nothing specific to work on.
TM1 - He is happy to be spending more time with his family. He has
strong feelings about your (Ed’s) comments on our 12 November report.
He wonders whether the Tribe is being open and committed to the process.
TM5 - He shares that his long positions are down but his system is not out of them yet. He is worried about exiting his long positions
after a significant down move, losing money on the long side and losing
the opportunity to make money on the short side in case of the market
moving down.
Discussion
TM2’s feelings about your comments serve as a reality check for the
Tribe. After the Check In, we begin with a discussion of where the
Tribe is heading. We agree that our commitment is lacking and that we
are not being as open as we used to be. TM2 also mentions how we
keep noting entry points for the (non existent) future, but then
do not take them to a hotseat.
TM5 mentions that he sees TT as a platform for growth. TM1 uses an
equity curve analogy, where he feels that the equity curve of the Tribe
is mildly down to sideways and people are not bringing in issues. I
(TM2) feel that the work is helping me and bringing in changes. I feel
happy where I am but I also know that I have issues that I am putting
off of taking to the hotseat. TM3 also recalls earlier meetings, where
many members would note down the strong feelings we felt over the
course of the week and share it on the Tribe WhatsApp Group,
which we do not do now. We instead rely on memory. We agree that each
of us is not being as accountable as we used to be. TM3 mentions how he
is putting off reading The Trading Tribe and promises to read the book
before the next meet.
After the discussion, I elect to take the “prickly issue” of my romance and sex life to the hotseat.
Hotseat 1
I (TM2) take the HS with TM5 as the Process Manager.
I begin with some story telling around how I am not asking women out or the long breaks between asking women out. I ask a woman out,
maybe go out on a couple of dates and if it goes nowhere, I take a few
years to ask someone else out & the cycle repeats. I feel like I am
not taking enough action.
I recall an incident where after a date, I am dropping a girl home and
I feel like I should kiss her but I get into a thinking / analytical
mode. I recall doing the same on at least one other occasion.
I start curling my toes and fingers.
I hear TM3 encourage me to curl my toes. I am snapped back from
slipping into a trance-like state to being back in control of my
conscious mind. I now understand what you (Ed) mean by pulling the HS
out of his experience to the objective reality from our 12 November
send.
I pout & also feel a strong knot in my stomach. I wonder if this is
how adults kiss & feel silly doing it. I feel silly and wonder if
this is how people kiss.
I recall a few incidents. I recall being around 4-5 and playfully
groping women and making a honking sound. I recall feeling guilty about
imagining a world where people are naked, also from when I am 5-6 years
of age. I mention that I feel guilt and icky. PM asks me to feel icky.
He asks me to point where I feel icky in my body. I mention all over
the body. I feel a sensation around my shoulders and my chest. I stay
with it. I feel a tightness around my groin and privates. I stay with
these feelings. I start scowling, tightening my face and nose. PM
encourages me to keep doing it.
I curl my toes and keep pouting. PM & Tribe cheers me. I feel a
tightness in my left ankle. PM encourages me to stay with my feelings.
I wonder what making love to some women I like feels like.
I mention I feel lust. PM asks me to describe what lust feels like. I feel warm and fuzzy all over. I stay with the feeling. After staying with the feelings for some duration, I elect to end the process. With this, we end the process.
HS Checkout
TM1 mentions that he drifts in and out of the process. He also feels discomfort around the topic.
TM3 mentions that he sees all new forms in this process. We agree that
PM does a fine job of managing the process. I also feel like I am
taking the next step in personal growth.
With this, we end the meeting.
Regards,
|
Thank you for sharing your process and for documenting your Tribe Meeting.
I notice your Tribe Members supporting each other more with encouragement and less with control.
As you practice sharing your feelings in Tribe about sex (such as
anguishing over whether or not to kiss) you might consider also sharing
such feelings with your date.
That might help transform your dates from exercises in "trying to
control her" to opportunities to "share feelings with her in the
moment."
I notice TM3 employing expectations about the future as part of his
trading calculus. I wonder if he has a rigorous method for doing
this.
I notice TM5 worrying about his positions. I wonder how he employs his feelings, such as worry, to enhance his trading.
|
Dec 28, 2019
Math
Hi Ed,
My current math level doesn't go beyond 8th grade algebra. I was
thinking of taking remedial courses and continuing my math education as
an adult all the way through calculus and beyond.
I notice top traders usually have math degrees, Hedge funds use a lot
of quantitative analysis, and developing your own custom indicators
also usually means a high level understanding of advanced math. Things
like looking at waves, standard deviation models, and statistics.
I'm sure an electrical engineering degree such as what you possess
required a high level of math and that this influenced your trading for
the better.
What type of Math as a focus would you recommend to be the best trader I can be? Statistics? Calculus? Physics?
I know the facetious answer would be to add and subtract, but would
there actually be anything much more advanced that is worthwhile from a
trading standpoint?
|
Thank you for raising this issue.
I agree that the essential math skills include addition, subtraction, multiplication and division.
I might also recommend developing skill with correlations and ratios.
Other than that, I think you can get by without the differential calculus, physics or chemistry.
You might consider looking into System Dynamics as a way to view the
world in terms of structures (intentions) that have behaviors (results).
You might also consider taking your feelings about <not good enough> to Tribe as entry points.
|
Dec 27, 2019
The Trader's Window
Dear Sir,
In the previous Mumbai Tribe Meeting, we talk about The Jademaster
after a member comes across it in The New Market Wizards. I see on FAQ
that the tale is from your unpublished book called the Traders Window.
I find The Jademaster to be interesting & educative. I wonder if
you are planning to publish The Traders Window. I wish to buy a copy.
Regards,
|
Thank you for raising this issue.
I have it on the back burner.
|
Dec 23, 2019
Estimating Margins
Dear Ed,
I hope the Trading Tribe Workshop in Bastrop was a success, I'm sorry I
had to withdraw my application, I seem to have enrolled my self in a
repeat drama that I'm not sure how to get out of or if I even want to
get out of it yet, but this drama is the reason why I had to withdraw.
Anyway I have been working on my back testing frame work for /M6B
E-Micro GBP/USD. /M6B is a futures contract offered by my brokerage.
The gearing on it is, Tick Size: 0.0001 ,Tick Value:$0.63, Margin:$246
and the current price as I'm typing is 1.2979.
I know risk is defined as the total amount that I stand to loose per
trade but since I'm back testing using the moving average crossover
system there are no stop orders or at-least I'm not back testing a case
where I use stop orders as based on my experience losses tend to be
smaller than winners when strictly buying or selling on the open of the
next day's tick on a daily chart after a crossover of the moving
averages occurred. So there is an implicit risk manager built into the moving average crossover system.
But I still want to take advantage of basing my trading size on a
percentage parameter because when using a percentage to determine how
many contracts to trade the system trades smaller when losing and
bigger when winning.
So I have figured out that I can use the margin of the contract to
calculate a percentage parameter. Below is how I calculate the number
of contracts
number of contracts = (Percentage Parameter(available $))/initial margin
So I can play around with the percentage parameter which I can set
anywhere between 0-100% and optimize. But the snag is historical
futures contract data don't come with the gearing of the contract when
the specific contract starts trading and I know margin requirements has
changed in the past for Gold over time so I assume the margin
requirements change for other futures as well.
So my question is how do you account for margin requirement changes over time?
Also during the summer you let me come over to read material you have
been writing for your new book and let me act as a novice reader and
provide my input from a novice's perspective. If you have written any
more material I would like to continue my job as novice reader.
Ow and one more thing, I have been practicing on my guitar a lot in the
past 6 months and would like to join a few of the jam sessions in Hays?
|
Thank you for raising this issue.
You can estimate historical margin by correlating it with volatility.
For purposes of bet-sizing computations, you can use volatility more directly.
Some traders use Average True Range, a measure of short-term volatility as a bet-sizing factor.
|
Dec 23, 2019
Regarding 20 Years Ago
Mr. Seykota,
I don't know if you recall my correspondence to you nearly 20 years ago
about stocks that track commodity prices. In any case, you were
good enough to give me some advise, but I don't know that I ever
thanked you fully. As you are aware, GOLD stock tracks gold
prices, so at least part of my dream was fulfilled.
I hope you are doing well. You remain an inspiration.
God bless you.
Yours,
|
Thank you for checking in and for acknowledging me and the work.
|
Dec 22, 2019
Workshop Report:
Tasting; Liking; Problem
Hi Ed,
I would like to add to the 3 day review or share my thoughts
Developing a taste in the feeling
Cut loss - before the workshop, I was wondering why Ed says a good
trader will celebrate the feeling of cutting loss. Isn’t that a sad
feelings? I just don’t get it.
After the class, I start to understand. I thank [Name] and the rest of
my Tribe members for celebrating my feelings during the hot seats.
Games on! Keep going! Bring it up!
Now I feel thrilled when it is time to cut my losses, kinda like my
conscious mind is acknowledging my sub conscious mind. it is like I’ve
got a taste of that feeling and it is time to celebrate that positive
intention of the feeling.
I don’t like you
During the one on one practice, (tell me how you feel, thank you.) I
was doing better and better after some time. Till I meet [Name_2], I
found that when he say “I don’t like you” in my face, I got a instant
feeling of sadness.
I realize I do care if people like me or not. That is how I live my
life all the time. That is probably why sometime I have fear in cutting
loss for my client, if I cut too many loss, they will not “like” me.
If I buy stocks that is too high, they might not like me. If I care too
much whether people like me or not, I will not follow my rules. I will
hold back, run away from what I am suppose to do. I like to thank
[Name_2] for triggering my feelings for this AHA moment I’m having now.
N3: What is your problem?
Me: Some time I did not follow my system
N3: Do you know there is a guy sitting in the jail right now, most of
the time he did not kill anyone, but he only kill somebody once or
twice.
Me: thank you!
Thank you for having all these wonderful people in the class.
Best regards
|
Thank you
for sending me your report.
|
Dec 19, 2019
Workshop
Report: Sleeping
Ed,
Is it already 3 days?!!
I am adjusting to a more consistent sleeping schedule.
Thank you for inviting me to participate with you in the December 2019
Bastrop TTP Workshop.
I am contacting my support team for my Bumper Sticker. 2 are enrolled.
i will continue with that this week.
Thank you,
|
Thank you for sending me your report.
|
Dec 18, 2019
Likes to Watch the
Quote
Screen
Hi Ed,
I have a fully automated system.
But I cant stop myself from looking at my quote screen and P&L
throughout the day.
My guess is i do this out of boredom. It is relatively exciting to
watch the markets and provides a means of escape from my otherwise
humdrum existence.
If i am engrossed in something else then i can go without looking at
the markets that day. But that is rare.
Do you have any advice on how i can avoid this temptation most other
days?
From today i am going to count how many days i go do without looking at
my quote screen during the day. My guess is that i wont last many days.
Thanks
|
Thank you for raising
this issue.
I wonder if you can tell me how watching the quote screen harms you or
others - or how it otherwise presents as a problem.
You might consider taking your feelings about "liking to watch" to
Tribe as an entry point.
|
Dec 18, 2019
Workshop
Report: I =
R
Dear Ed,
The Following is my experience of the December 13-15th workshop in
Bastrop, Texas.
Intentions = Results. This is seems to have stuck.
TTP is a formal process through which one learns to send and receive
feelings effectively. The Rocks process helps to reprogram deep
emotional response patterns that the hot seat otherwise would have no
control over. The experience I have of TTP at the Workshop is
completely different to the TTP I practice at the London Tribe.
There is more emphasis on communicating feelings well. The Rocks and
the show me how you are thinking / feeling process are great ways for
everyone to learn how to communicate feelings well.
I will take what I have learned from the Workshop and implement it at
the London Tribe. I notice the high level of skill Ed has as a process
manager. I now have an idea of how a good PM acts which gives me
something to work towards. I feel uneasy about leading the London
tribe. I wonder if I have the ability to learn and get results. I also
wonder if there will be consistent numbers to attend Tribe meetings
next year.
My own experience on the hotseat, where I receive my Heart Rock,
changes my perception of my childhood event. I keep thinking about
standing by a pool in my swimming trunks. I look down at the brick. I
put my goggles on, I dive down and pick it up!
I meet some wonderful people at the workshop and I feel a strong
connection to everyone. I am reminded of how I feel after a holotropic
breath work weekend in 2017. I feel sadness once the Workshop is over. I
look forward to supporting Workshop attendees as they head towards
their goals.
Some Notes
Goal setting - There needs to be a who, what, where
/ when. The goal must be measurable, understandable, and fit onto a
bumper sticker. Charles does a great job at helping us to more clearly
define our goals.
A support team is essential in helping one stick to
the goal.
Future / Past - Energy is wasted here. The future
and past only exist in the moment of now.
Trading works when it is about connection, the
journey. It does not work so well when it is obsessed over or is
important.
It's all about the process and staying on the path.
The Whipsaw Song - Helps one learn and stick to the
key trading principles.
Questions for Ed
Can you comment more on intuition vs into-wishing? I
am still struggling to differentiate between the two feelings after 8
years of trading.
Rocks Process - What happens if the hotseat is
unable to recall a memory associated with what he / she is feeling in
the moment of now? Does the memory always have to be a childhood event?
Thanks once again to Charles and Ed for a great workshop. Count me in
for the next one!
|
Thank you for sending
me your report.
Thank you for raising your issues.
Intuition: a
sense
of knowing that may arise while deeply accepting the moment of now.
Into-Wishing:
a
that something might afford relief while anxiously trying to medicate
feelings.
Memories of Prior
Events
flood Hotseat's mind when he reaches emotional climax, under the
guidance of a skillful Process Manager.
|
Dec 15, 2019
Workshop Report -
Goggles
Hi Ed,
Thanks once again for a wonderful Workshop. I am very happy I attended!
As I mentioned, this new experience of TTP has given me plenty of food
for thought. After putting my goggles on, I realize that I do not have
the skill set right now to run a Rocks Process effectively, and thus, I
am the wrong person to market TTP right now.
I hope more people attend London tribe meetings so that I can practice
Rocks.
I mentioned Peter Brandt. I believe his sweet spot is trading the tight
consolidation patterns you mentioned today. He sells a service, whereby
he posts a weekly update of his trades, with entry and exit points, and
position sizing. I think I may have on file somewhere trade information
that he has since taken off his site. Happy to try and find it if you
are interested.
The language Peter uses in his weekly reports feels consistent with the
mentality of a good trader. He will also be featured in the next market
wizards book.
https://www.peterlbrandt.com/
Once you become a member you can download all of his historical reports.
Take care and I hope you have a Merry Christmas and Happy New Year.
|
Thank you for sending
me your report.
According to Peter, from the site you cite, "Every highly profitable trader I have ever
met in my 40 years of market speculation has done it with a trading
approach of their own design. I know of nobody who has made it by
shadowing another trader’s maneuvers." |
Dec 15, 2019
Workshop Report -
Celebration
Ed,
The Austin Workshop was a celebration of feelings!
I arrive with some written goals - Charles and Ed help us to narrow
them down and get them into shape. I settle on two goals:
I visit the doctor 6 times or more in 2020
Hablo con el barbero empazando 2021
Feelings around trust and embarrassment bubble up around the goals. We
break into Tribes and work the feelings. I get a chance to lead a Tribe
and enjoy the process.
On the last day we form support groups to support us in our goals and
bond as a group.
I travel to the airport feeling a sense of calm and clarity. I reflect
on the positive intention of uncertainty – risk control.
A great weekend. Thank you to Ed, Charles and all the attendees.
|
Thank you for sending
me your report.
|
Dec 13, 2019
Workshop Goals
Hi Ed,
I’m looking very forward to the Workshop.
Regarding my bumper sticker
as it relates to
mold; get a “clean” place to live, visit Carpathia in Dallas, get
started again on the IV’s either there or at home, organize all of the
lab reports and doctor visit summaries, stay focused on meal timing for
the binders and the meals themselves for eliminating toxins.
Get the infrared sauna thing figured out, keep up with the Epson salt
baths. On day 2 . . .
The attributes important to me in a partner in a committed long term
relationship:
A woman who is feminine, values touch and physical and emotional
intimacy, is height and weight proportionate, has a good sense of
humor, within two years older and five years younger than I am, enjoys
the dance between the sexes and remains at this stage of the game still
curious about life and looks upon it with awe and wonder.
Keeps a clean home, is competent in the kitchen, loyal to family and
friends, is an ally. A little electricity wouldn’t hurt and
finally, someone ultimately interested in marriage.
|
Thank you for stating
your goals for the Workshop.
|
Dec 12, 2019
Banjo Point
Dear Ed,
I returned to Austin yesterday from New Orleans and looking out of the
window on our approach I recognized your ranch.
The Banjo Point
convergence [of the Colorado River and Cedar Creek] was the telltale
sign. Managed to get a quick shot on my
phone. Thought you might like to see it.
I hope you’re well.
|
Banjo Point
Bastrop, Texas
|
|
Thank you for checking
in and for sending me the photo of Banjo Point.
|
Dec 12, 2019
Mumbai Tribe Report
Dear Sir,
With 4 members present, we begin by drumming and proceed to check in.
Check In
TM1- He shares that he feels happy after taking a short holiday with
his family. He believes that his son especially needs a break from
participating in a lot of competitions.
He is satisfied with a new option trading strategy that has developed
and looking forward to deploy it. He decides to pull the plug on a system that is in a deep
drawdown. He feels hot about the wild swings in his feelings
during the day.
TM2 (I)- I begin by sharing about progress on one project where I wish
to get the Tribe members to sign off. I have chosen the developer and
finalized the commercials with him. I
feel my partner on another project is being deceitful &
feel confusion about whether I wish to work with him going forward. I
also feel very low since Wednesday morning, from when I am fasting. I
recall memories and other things. I am also irritated with my mother;
but choose not to share the incident with the Tribe.
TM3 - His trading is going OK. He is excited about submitting a
technical analysis study for the Dow Awards that are organized by the
CMT Association.
TM4- He is happy after attending a family friend's wedding with his
Fiance and her family. He is looking forward to his own wedding in
February. He is worried about spending the money for his wedding and
trying to guesstimate the bonus he will make for this year as he wishes
to begin married life with a decent kitty.
On the work front, things are going fine, and he's feeling grateful for
successful and profitable trades this year, however, he says that he
tries to remind himself that the year isn't over till it's over. He wishes to work on defensive thoughts
and feeling anxious over guesstimating the bonus.
Hotseat 1
TM4 takes the Hotseat with TM2(I) as the Process Manager.
We start with a bit
of
storytelling where HS feels hot. He mentions he observes feeling cool
immediately after taking the hotseat and not feeling his feelings and
wishes to explore this. I ask him to show us the cool feeling.
He clenches his teeth squints his eyes. We cheer him on. He
starts moving his head. The Tribe cheers him on. I freeze him and probe for memories / feelings /
thoughts.
He recalls his Great Grandmother reacting to any bad or irritating news
by moving her hand to her forehead (similar to the woe is me gesture).
We probe for any critical
incidents but do not find any. I test for willingness and HS confirms
willingness to continue.
HS starts fidgeting with him thumb. HS recollects he used to try and
pull his right thumb’s nail skin back, which led to a very dry and
rough skin around the area.
He recalls his Mom noticing the skin condition and says that's because
he keeps pulling the skin back, HS then recollects starting to push the
skin back after his mom's comments. HS continues into other forms. HS
feels a pain on the back of his neck. We encourage him to keep feeling
that pain. HS. HS starts moving his tongue around the oral
vestibule(the area between his teeth & lips). We continue cheering
him up and validating his feelings.
I freeze the HS at what I feel is peak intensity and probe for thoughts / memories. HS
recalls doing this action very frequently when playing sports in
school. He finds the action lubricates his mouth. We are unable to find
any critical incident around this.
I test for willingness and HS is willing to continue. HS again starts
feeling some pain in the neck. We validate his feelings and cheer him
on. He keeps shaking his neck and I freeze him. He massages that area
where he feels most pain. He has an Aha! HS shares that his maternal
Great Grandmother, his Grandmother & his Mother all suffer
spondylosis [a painful condition of the spine resulting from the
degeneration of the intervertebral disks -- Ed].
He says that he too ends up having neck pains but is unsure whether it
is a genuine case or whether this is something he gives himself by
mimicking them, he feels he does this for attention. He also recalls
giving all the aforementioned women massages to help ease their pain
and has developed good skill in the same.
He has another aha! He feels that he likes solving other people's
problems and enjoys giving massages. He gets to feel like the Alpha in
such cases. He says that his drama probably seeks people who seem to
have problems that tend to fester around the neck area, and he can give
massages to them. After HS shares his Aha with the Tribe; I test for
willingness. HS wishes to continue. He gets into a form of sitting like
a Sumo Wrestler with his head facing the ground. He shares he feels
enormous pain. We validate his feelings. HS has another Aha. He feels
he likes showcasing his physiological problems to garner attention.
After these aha’s; HS elects to end the process.
HS Checkout
We are happy with the Hotseat. We see some new forms like the Sumo
Wrestler form. HS also recalls from another member's process in the
previous meeting of feeling like he is taking too much of the tribes
time; but then feels like the Tribe is happy to validate his feelings
and feels grateful for the same. Tribe members and I mention freezing
HS early at times, HS responds saying he felt that a couple of times PM
froze quite late. Tribe feels that there are 3 entry points for HS:
His neck ache/spondylosis.
His wanting to feel like an Alpha by helping to solve other people's
problems.
His showcasing of his problems to garner attention.
I also feel hot and have several memories flash thru my mind while
receiving HS.
With this we end the first HS.
Hotseat 2
TM1 takes the HS with TM2(I) as Process Manager.
HS1 starts with some story telling. He says that he feels highs and
lows, the extremes of the same have reduced, but he still feels that
volatility. He also shares one system being in deep drawdown and wants
to shut the system as it's not achieving the objective.
He starts feeling a pain in the neck. He covers his face with his hands
and starts laughing / crying, arching his back on the seat and then
curling in. He feels happy to share his feelings with his Tribe and
home. We continue the process and he HS starts rocking on the chair and
tapping his hands on his thighs. We validate his feelings and he
continues to express. I freeze him
and test whether he has any thoughts / memories.
HS does not recall anything. I probe for willingness and HS indicates
he is willing to continue. HS again displays his signature form where
he taps his thighs with his hands while simultaneously tapping his feet
on the floor. We validate his feelings. I freeze him when I feel peak
intensity and probe for any memories or critical incidents. HS remembers something but does not wish
to share it with the Tribe. I probe
for willingness. HS feels like ending the Hotseat. I ask him to show
the Tribe where he feels like ending the hotseat. He points to his
stomach and mentions that he feels a burning sensation . I ask him if
he wishes to explore the burning sensation. HS agrees to feel that
burning sensation. We encourage to him to feel the sensation. Soon, he
moves back to his hand and feet tapping signature form. I freeze him
again and probe for any
thoughts or feelings. HS again
indicates he recalls something but does not wish to share it with Tribe.
I test for willingness. HS is unwilling to continue. I ask him to
show me the unwillingness, but he feels he is done. We elect to end the
Process.
Hotseat Checkout
I enjoy this process
while
also feeling disappointed that HS elects not to share the incident with
us. Other Tribe members feel it was a very good process and
there are things that can be explored further. During the process I
also feel hot. I recall some incidents I am embarrassed about.
I feel concern and
wonder
on whether it is right for me to ask a Tribe member to feel what is
stopping him from sharing his memory & whether it is me accepting
the Tribe Member or manipulating him into sharing something he does not
wish to share.
Tribe leader (TM4) suggests that as long as the intention is to lead
the HS into feeling, then it's fine to ask a Tribe member to feel what
is stopping him from sharing his memory.
HS also feels like
he has
gone thru this issue multiple times.
TM3 points that these are signature forms.
Snapshot Process
I take the Hotseat for the snapshot process. After failing to get the
Tribe to pass on my snapshot in the previous 2 meetings; I rework my
numbers and bring a more realistic target.
The Tribe agrees that the number is achievable and signs off on it.
TM4 asks me what is stopping me from achieving this target. I indicate
a sensation on the right side of my chest. I start feeling that. The
image in my mind is of my computer screen showing with a panel showing
me my target customers. I keep feeling the sensation and feel something
along my back. I feel a tightness in my head and right eye. As I stay
with the tightness, I can feel it flow down my spine to my thighs and
toes.
The Tribe cheers me on to feel this feeling. My snapshot becomes
clearer - I am sitting in my cabin at my office and looking at the
computer with the target customers and revenue numbers on it. I feel
happy.
TM3 asks me to feel
the
happiness. I feel something around my chest and around my
shoulders. Tribe validates my feeling. I pump my fist in the air. Tribe
encourages me to keep feeling this form. I perform the action several
times and feel like celebrating by raising both my hands. Tribe
encourages me keep doing this form. I feel a searing pain in left
shoulder. I stay with the pain and feel a sharp feeling in my ear. It
feels like two rocks rubbing across each other to create a screeching
noise.
I stay with the feeling and the Tribe continues to validate it. I have
a thought - I do not wish my father to always take care of me. TM3 asks
me to feel what my father taking care of me feels like. I feel a
tightness around my left chest. I have a thought “tumse nahi hoga”
which translated in English means “You cannot do it”. I share this with
the Tribe. Tribe encourages me to indicate where I feel this. I notice
the sensation in my left ear as a screeching tone around my ear.
I recall listening to this line in an old Hindi movie. I recall another
incident / dream (I am not sure), where my parents & I are
traveling by train without reserved tickets*. We start talking to a
stranger and he thinks he can get us reserved bunks. We pull the
emergency stop, get out of the train and run towards another train
compartment. I am running with the strangers and my parents far behind
me. I am worried about being with a stranger & losing my parents. I
look behind but the stranger asks me to continue running. I am afraid
of losing my parents.
I keep feeling the screeching and also feel a tightness in my ankles. I
feel that tightness. Tribe continues to encourage and validate. I
recall another incident from when I am around 9 or 10 years old. I am
crossing the street to get to my school bus. A driver slams the break
and I am scared by that screeching noise and the car stopping some
meters away from me. I get on the footpath quickly where a shopkeeper
tells me angrily tells me to be careful.
I am feeling embarrassed and irritated by the advise / concern of the
shopkeeper, mumble along and head to my school bus. I recall not being
able to cross that one street for around 9-10 months after the
incident. I recall my body freezing at that bus stop. I would chase /
shadow along with other parents who would drop their kids to the bus
stop for that particular street. I preferred to walk to the bus stop
alone. The Tribe thinks there may be a rock in this incident and we
agree to role play this. We suspect the shopkeeper with his anger may
have been a rock donor. During the role play, we realize that
shopkeeper is not a rock donor.
TM4 probes me and I feel a
certain stinging in my left ankle. I take the hotseat again where I
recall certain other memories from when I am around 7 or 8.
I recall another memory from when I am 7 & in Grade 3. A classmate
threatens to hurt my father & I feel worried. I get into a fight /
argument (I am unable to recall the exact incident) with him. My then
teacher eventually punishes the classmate. I am happy at him getting
punished. When I tell my parents about this, they laugh it off.
In the same grade, I also recall my father dropping by the school to
distribute an entire celebratory kit comprising of some juice, candy,
hats and a chocolate bar on the occasion of my birthday. I feel happy
and also grateful for this. I am unable to feel grateful. I keep
feeling the tightness in my ankles and feet.
I also recall another incident from the same time. My teacher denies me
permission to go to the washroom. I eventually pee in my shorts and
feel embarrassed. I blame a leaking water bottle. I stop a
classmate from holding or touching my water bottle.
I ask the teacher permission to go “fill my bottle” with my wet pants.
She gives me permission to do so. She also gives permission to a girl
to use the washroom. I recall having a crush on the girl. I feel
embarrassed by this entire incident. As I type this, I also feel angry at arbitrary rules
schools impose around visiting washrooms or seeking permission for
simple things.
I recall another incident. My family had newly moved to Dubai. A
delivery man delivers large 20 liter water bottles home & I ask him
to drop them in the kitchen. He makes some remark to my mother.
She gets very upset and starts screaming at me accusing me of being a
hothead, which can potentially lead to them getting into trouble. She
then tells my father after he comes back from work. My father also
screams at me. The next day my mother tells again screams at me. She
tells me that they may deport us from this country because of my
actions. I am unsure of what I do wrong here. I recall requesting the
delivery man nicely to drop the bottles inside. My mother tells me that
my father apologized to the delivery man.
We role play this incident as well. As we role play, something that
becomes clear is that my mother
rarely tries to create rapport or listening to me. She starts
screaming at the first chance she gets. She also gets my father to
shout at me. This continues till my late teens. I learn to tune both of
them out during such screaming. Tribe feels the need to explore this
further. I feel tired and we elect to end the process.
Note: In my previous sends, I have used the seating order of Tribe
Members to allocate their pseudonyms, for instance, TM1 in one meeting
may be TM5 in another. From this send onwards, TM1 will continue to be
TM1 for all subsequent meetings. I feel this is helpful for FAQ readers
to follow along the individual tribe members journey.
Regards
|
Thank you for sharing
your process and for documenting your meeting.
I gather your Tribe has a lot of willingness to engage deep growth and
that you occasionally lose the momentum and end the processes before
reaching the end of the Rocks Process.
As you continue to treat each other more gently, and with rapport
rather than control, you may continue to see less shutting down and
cooling off and more opening up and heating up.
|
Dec 11, 2019
Talks Cause Markets
Hi ed i have been wondering about the nature of the trade talks and its
impacts on the markets.
Since there is a very clear
indication that its causing the markets to respond significantly
i would like to call it Trade talks process. As its clearly not linear
there must be a higher order function to describe. Hence a process
input into the market.
Does this fall under the macro process Govopoly?
Is it a cancerous process?
How Can it be systematically represented?
I am wondering if u could share your inputs or thoughts.
Thanks in advance
|
Thank you for raising
this issue.
I wonder what clear indication you have that trade talks cause the markets to respond
significantly.
Be sure to include, in your reply, a definition for "trade talks," a
definition of "significant market response" and then, also, evidence of
causality, including measure-ability and repeat-ability.
In Tribe, we do not entirely rely on the Causal Model, or
"News-a-Mentals."
|
Dec 8, 2019
Templates
hi, in the interview with michael covel you mentioned that there are
some templates for backtesting data. before 1913 and after 1913 when
federal reserve was formed.
i am interesting to get access to these templates and any data/ studies
that of market history. i realize my question is not well formulated
since i am not clear about what i am asking for. is there a
certain pathway or track to follow to get access to these templates and
data. please let me know
thank you and have a great week.
ps: i am interested in equities primarily.
|
Thank you for raising
this issue.
I wonder if you might help me better understand your question by
providing the book name, page number and text of the section that
mentions "templates."
|
Dec 8, 2019
Entry Point
hello ed and other members in the group.
i read about TTP from gil morales book and it made sense to me. this is
my entry point into this website and the email group.
i am not sure what to ask but am interested in finding out the
practices for new members.
thank you
|
Thank you for reaching
out to The Trading Tribe.
You might consider, for starters, reading through FAQ.
|
Dec 4, 2019
Turning Point
Hey Ed,
I hope that you and the family are well. All good on my
side. [My Wife] and I celebrated our 34 anniverssary in August,
our daughter ... was recently engaged, we’re all healthy with nice
shelter and plenty of food in the cabinets/fridge, so no complaints!
I was at a dinner recently hosted by a long/short equity European
focused manager ... (based in Switzerland), and your name came up in a
conversation with the Chief Portfolio Manager. He is a big fan
and in a follow up note to me wrote the following:
Reading the Market
Wizards
was the turning point for my career, and Ed Seykota’s approach to risk
management has become the fundament of my strategy. While I’ve
complemented my strategy with other technical and fundamental concepts
over time, it is Ed Seykota’s basic rules of risk management which
remain at the core of it. They have saved me many times from my own
mistakes.
Just thought you would appreciate this. Nice to hear your work
has had such a positive impact on so many people!
All my best,
|
Thank you for
supporting me and the work.
|
Dec 4, 2019
Mumbai Tribe Report
Dear Sir,
We begin with drumming and proceed to check in.
Check In
TM1 - He is following his trading process and believes it is going
good. He also mentions feeling arrogant & angry when facing small
issues, a feeling he recalls having whenever he is trading
spectacularly. He is not sure of how to handle it.
He recalls having similar feelings around 1998-2001, a period where he
generates 10,000% returns. During that period, he would leave office
immediately after market close and take long walks, not being sure how to handle the returns.
He wishes to take this to the hotseat.
TM2 - His systems have given him a large drawdown recently and he is
absorbing that. He shares attending a recent conference where one
of the speakers shares of his experiences witnessing a large drawdown
during 2000-2001 with one of the technology stocks. TM2 cries as
he hears the speaker share his experiences.
This helps TM2 feel some relief as he
has been feeling guilty on going through the drawdown. His
personal account trading has recovered somewhat from the initial
drawdown during the month, and he has been keeping risk low after a large win streak
in the recent previous months.
TM3 (I) - I share that wireframes for one project I am working on are
ready and we are moving to the next stage of development during the
first week of December. On another project, I & my partner are
looking for another developer after the first we get tired of
flip flops and stalls by the original developer. I feel my father is
worried after quitting his job 3 months ago. He has a couple of
tentative offers and not sure which one to take. I am happy to see my
equity curve rising. I wish to continue my snapshot process.
TM4 - He takes a 2 day break from office to relax. He has minor
headaches from around 3 months and is worried about them. He also
shares that he and his son agree upon the career path the son is about
to take. He is finding difficulties
in following his trading rules in some options trades. His rule
dictates that he cut the loss in case the option value fall by 50%,
however, he is unable to cut the loss.
TM5 - He feels he has excess workload at office and shares his feelings
with his boss. The bosses take his feedback and have taken some steps
to resolve the workload. He also wishes his boss make a “thinking
space” where employees can sit / read / think to generate new ideas. He
is also worried about his boss seeing him as arrogant after putting
many suggestions quickly. He mentions he observes defensive thoughts
and complaining in his head around work and wants to work on the same.
Hotseat 1
With TM5 as PM, TM1 takes the Hotseat.
He begins by storytelling around his issue. PM keeps probing him. TM1
starts to move both his hands. The movement looks similar to someone
using a chest fly machine. We encourage him to crank it up.
PM freezes HS & probes for
memories / thoughts / feelings.
HS remembers none. We continue with the process. HS feels coolness all
over his thighs, forearm & legs. Tribe continues to encourage him
to keep feeling. HS shares he feels like a cork being smashed across
waves in the sea. He starts rubbing his thighs with his hands. He feels
warm & amused. He feels amusement in his stomach. We encourage him
to feel all his feelings.
PM probes for
willingness.
HS wishes to continue. HS starts tapping his feet. Tribe encourages him
to crank it up. PM freezes HS again and probes for any memories or
feelings. HS replies he has a fleeting memory from childhood. HS
recalls being very afraid of water. He recalls his father throwing him
into the pool.
Back then; HS would make excuses like walking to the pool instead of
riding with his siblings in the car. HS shares that a Rocks Process
takes place around this issue in the first Mumbai Tribe nearly a decade
ago.
When PM asks him what the Rock was, HS doesn't recall whether a
specific Rock was identified in that earlier Rocks Process. PM probes
for willingness & HS replies he is willing. He also feels like he is stretching the meeting and
making us uncomfortable.
We ask him to feel that stretching, TM4 mentions to HS of the Tribe
being a safe space for HS to feel feelings. HS starts rubbing the index
fingers & thumbs of both hands; locking them. We encourage him to
crank it up. PM freezes HS & again probes for willingness. HS feels
done with the process and elects to end the process.
HS Check Out
TM2 feels it is HS’ most physically intensive process. I feel there are
more issues for HS to explore; like feeling guilty for using a lot of
the tribes time or stretching the tribe. TM4 also feels that the Tribe
is very attentive during the HS. TM5 (PM) also feels that many tribe
members also feel a lot of different forms during the HS. HS shares
that he feels good about the hotseat. He is also worried about wasting
the tribes time. We feel this worry / guilt can also be an entry point.
Hotseat 2
I present more from my previous week’s Snapshot presentation. I make
some changes to my plans; including better communication with customers
& increasing the geographical size of my project.
I fail in getting the Tribe to sign off on my project. TM5 probes on
the very ambitious target. I share that I am setting a very high target
because I am afraid of competition that can replicate my website. TM5
feels I may want to explore the issue on the Hotseat.
I realize that the target is set very high for the first year & I
decide to rework the numbers.
I plan on presenting the Snapshot with detailed numbers in the next
meeting.
With this, we end the Tribe Meeting.
Regards,
|
Thank you for sharing
your process and for documenting your meeting.
I notice your Tribe has a history of shutting each other down whenever
you start to close in on the Rocks Process.
I might guess you like to run your Tribe in this manner, so as to avoid
having to confront deep issues.
I case you actually do want to go deeper, you might consider treating
each other a little more gently, and with encouragement rather than
with demands.
For example, you might consider the differences between encouraging, suggesting, and probing.
Probe: a blunt-ended surgical instrument used for exploring a wound or
part of the body.
While these word distinctions may appear small in ordinary
conversation, they indicate postures that may make a world of
difference in Tribe Dynamics.
TM2 appears to have some mastery of trading mechanics and seems ready
to deal with his fear of success.
The Rocks Process includes coming to hold feelings as allies rather
than as adversaries.
The PM might consider modeling the alliance relationship in his
dealings with Hotseat.
The Probe
The Response
|
The Response
has a lot to do with
the stimulus
|
Attributions:
Probe | Fear
|
|
Dec 3, 2019
Denver/Boulder Tribe
Hello --
I'm interested in joining a Trading Tribe in the Denver/Boulder area of
Colorado. Does one exist, and if so, could you please put me in contact?
Thank you,
|
Thank you for raising
this issue.
You can check Resources, above. Then TT_Services and Tribe Reach
Out.
|
Dec 2, 2019
Continuous Problem
Dear sir,
I want to know how to handle future contract continuous problem in
machine trading.
Regards
|
Thank you for raising
this issue.
I wonder if you can define the problem to which you refer.
|
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