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Dear Nate,
Thank you for these words of wisdom. Your experience
and willingness to share it is greatly appreciated.
Best regards,
Tomasz Janeczko
===============
AmiBroker - the comprehensive share manager.
http://www.amibroker.com
----- Original Message -----
From: "Dr. S. Nathan Berger" <snberger@xxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Sunday, April 22, 2001 12:56 AM
Subject: [amibroker] Running Alligators
> Steve-
>
> Well, Alligator is emphatically another example of how there is more than
> one way to accomplish a task. And it's so colorful and flashy!
>
> However, since there seems to be many relatively new investors out there,
> allow me to presume to give some advice. I don't know how to program, but I
> have learned a thing or two about how to invest.
>
> One of the criticisms I have seen of Williams' system is that although he
> professes to love the simple approach, his system is needlessly
> complicated. Someone wrote, "Balance lines, awesome oscillators and
> fractals are just moving averages, MACD and chart breakouts in disguise."
> But this is all beside the point.
>
> Technical indicators and elaborate software will not spare you losing
> money. YOU MUST HAVE A SYSTEM OF DAMAGE CONTROL- or risk management as it
> is better known. I traded for many, many years before I started using stop
> losses, for example. Now, the minute I get a fill on a position, I enter a
> stop loss so that there is no way I'm going to enter at 10, clap my hands
> in glee when the stock goes to 20, begin to worry when it drops back to 12,
> and end up praying it will somehow recover when it is at 6 and I'm still
> holding it!
>
> Get a copy of Elder's book, Trading for a Living, by Dr. Alexander Elder.
> Believe me, his system will make you money- as will so many other
> approaches to the market. But his system for managing risk is much more
> valuable than any other I have seen. It will keep you from regretting you
> ever decided to invest in the markets.
>
> And let me thank you again, Steve, (and the rest of you programmers), for
> sharing what you learned about Williams- and the AFL's you and others have
> written- with the rest of us. I know my own trading position has been made
> stronger by being exposed to what you know and what you shared with us!
>
> Nate Berger
>
>
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
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