I've been asked over three decades to present to others just a few of the secrets of trading. I am not one to want my picture front and center. I am not one to want my name a household word. I am not one to face the 5% of those who would cry foul in giving to others what has been given to me. If I can save the grief of some of the trading torture to those who search out the knowledge of trading, then I am in a position to acknowledge my debt.
Most traders think the important element in success is knowledge. In my trading career I have found that correct knowledge and the ability to change behavior are the most important parts of successful trading. Correct knowledge without behavior modification projects improper execution of an otherwise perfect trading plan.
In three decades of learning correct trading knowledge and behavior modification, I have included in my trading plans two rules that present me with the ability to change my thinking and behavior. Both rules are required for successful trading. Upon urging from a long-time trading friend, I shall share my insight on these rules.
By trade, I am not a writer nor is Art. We are both traders, but it is my desire to present insight into what is required in successful trading. This project was agreeable to me if we would do it on my terms. We came to an agreement on my terms of how it would be presented and that it would be presented as I wished.
Our agreement was that I would remain in my own privacy. I would not give my name but only my approval in writings about my insights of trading. You may call me "Phantom of the Pits." Your success in trading shall be at your own hand and direction. You shall know me as Phantom, a shadow in your success. That is how I wish it to be.
"Phantom of the Pits"
(As narrated to Art Simpson)