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Dear Hal,
I've read your letter a number of times before responding. It takes a while
to wrap your mind around what you have posted. Your letter is so full of
wisdom, pain, and reality- the kind no "newbie" could possibly know. You
must experience it in reality- it is not something you can download. I
suppose one cannot learn what you have learned without paying the price,
the "tuition", for acquiring such knowledge.
Like you, exploring different investment vehicles, buying different
stocks, contracts,
and commodities, working out various investment strategies has, over the
years, cost me untold sums in losses, in order to get to where I am now.
And I suppose the only reason I consider myself "successful" (speaking now
only relative to financial matters), is because I have some money in the
bank which makes me realize that overall, I have won more battles than I
have lost.
In short, I understand "where you are coming from". But I have a problem
with one especially important aspect of your thoughts:
I ask myself, "Where would I be now if others were not willing to share
knowledge with me?" Without meaning to preach, where would many of us be if
not for professors and teachers who willingly gave up what they had
acquired through failure, misfortune and diligence?
Would the world be better off if Galileo, Hypocrites, Newton, Pasteur,
and countless others had kept to themselves what they knew?"? Or Bollinger,
or Pring, Elder, Larry Williams, or George Lane (Stochastic oscillator)?
I agree with those who think no man enriches himself (or herself) without
enriching others first.
To your point: I run a stable of around 50 stocks. These are stocks which
work reasonably well within the systems I have developed. But these are the
same stocks that many others are watching, with their own systems,
different from mine. When enough of us feel the stock is going up, we buy.
But the signals we get to do so are coming from a myriad of different sources.
Perhaps it is naïve of me, but I do not think that having posted "my"
little AFL (Elder's work) to this forum has cost me anything financially.
Chances are that whomever of you out there who are trading the exact same
system as "mine" are not trading the exact same stocks.
Through the urgings and suggestions of contributors to this forum, I have
visited websites and backtested systems I would never have encountered were
it not for the willingness to share knowledge. I plan to visit those listed
in your own letter. And, in truth, a number of forum participants have
written me with suggestions of how I could modify my own little program in
order to secure a better trading result.
Indeed, all of this would be entirely moot were it not for tomasz and his
tireless willingness to expose all of us to what he knows, what he does. I
can't even write my own name in AFL. What could I possibly do without this
fantastic program he has written and shared so completely? And how much
less would I be able to use his program, save for the willingness of other
forum contributors to patiently bring me along and up to speed in an area
where I am so totally inept?
Thus I offer to you my consolation over the pain and the price you have
paid, and ask you wouldn't it have been better if you had had a mentor who
could possibly have spared you what you went through to get to where you
are now?
There is absolutely NO need for you to feel compelled to do so, but if you
choose to share, I think you will find the rewards will be out of all
proportion than if you choose not to. I hope you will, because it is
obvious you have learned much and have much to contribute. But I will
understand and completely support your decision if you do not.
With the very highest regard, and best wishes,
Nate
> For someone who has just entered this field of investing, there is so much
>to learn, that to provide an automatic trip to the peak of someone else's
>financial career results in a great LACK of appreciation of what the
>experienced person had to go through in order to make the profits that one
>could with the help of this group.
>
> My own experience has been costly. Most likely I'm a pretty stupid guy
>'cause I've done some awfully dumb things in my investing career since the
>mid '70's. I've never had a mentor during this time and therefore
>experienced the tragedy of defeat as well as the few strikes of lightening
>that each small profit seemed to be.
>
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