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I'd like to add a comment to this.
Back in 1960 Joe Granville published his first and best book, "A Strategy
of Daily Stock Market Timing for Maximum Profit". This book was the first
major book on technical analysis. Personal computers did not exist, so the
book was more qualitative than number crunching. The book was an immediate
success. My copy is the 7th printing dated 1963. A reporter asked Joe
Granville if he wasn't concerned that now many people would be using these
methods against him and other Wall St. operators. He replied that he had
nothing to fear:and added somthing like this; half the people who bought
it wouldn't read it, half of the remainder would be too lazy to follow it,
half of the remainder wouldn't understand it, half the remainder were
already using these methods. Considering the small numbers of people who
would study and apply the methods, no one on Wall Street had much to fear.
Like the books by Lefevre and Livermore, this book is still worth reading.
Sharing does help us all. Very few of us are such consummate geniuses that
we've discovered the supreme method. But we certainly do help ourselves and
each other by sharing ideas and methods.
Regards
Lionel
At 10:05 AM 9/19/97 -0400, Jim Greening wrote:
>Ken,
> I've always found that sharing helps. First of all, explaining my
>systems makes me understand them better. Also, It's amazing the number of
>times I get a suggestion that really improve the system or come up with a
>new wrinkle from answering questions. Finally, if the "masses" trade the
>same way I do, it has to work <G>.
>
>Jim
>
>----------
>> From: Ken Andersen <kandersen4@xxxxxxxx>
>> To: metastock-list@xxxxxxxxx
>> Subject: Re: Trading Education For Me
>> Date: Thursday, September 18, 1997 6:51 PM
>>
>> All,
>>
>> Does anyone have any thoughts on whether sharing, or even selling a
>> working, profitable system to the "masses" helps or hinders the system's
>> performance? I think a lot of traders and investors would be willing to
>> share (read: brag a little <g>) IF they were certain that doing so would
>> not dilute the effectiveness of their system. Comments?
>>
>> Ken
>>
>> On Thu, 18 Sep 1997 11:49:14 -0700 David_Radtke@xxxxxxxxxxxxxx writes:
>> >
>> >--0__=yWTuRwaQzj8hkOCoBiJ2ZXd6AsVywq9gKOebFvS5TSgg1E6wAIsq9aVO
>> >Content-type: text/plain; charset=US-ASCII
>> >
>> >Read the book "Reminiscences of a Stock Operator" by Edwin Lefevere.
>> >Trading is a one man operation, and by no means do you tell anyone
>> >about
>> >your position in the market. That's the way the game is played. If you
>> >don't like it, find another game.
>> >
>> >
>>
>> On Thu, 18 Sep 1997 13:51:17 -0400 (EDT) Frank B. Gaylord:
>>
>> >Andrew -
>> > Wishing it were not so, I'm afraid that it is common for our genre
>> >to
>> >*not* share their strategies. Jim Greening, who is very open in what
>> >he
>> >does and how he does it, is a bright exception to that dark hole.
>> >There
>> >are others here who, less frequently, tell us what they are doing and
>> >why
>> >they are doing it. I used to update my web site on a daily basis with
>> >full
>> >details of my strategy, but that has fallen by the way due to more
>> >pressing
>> >areas in my life.
>> > In my opinion, it is a basic fact that there are givers and there
>> >are
>> >takers, with far more of the latter. That is life. We all know of
>> >THMurrey and the various complaints he sourced. Whatever distraction
>> >he
>> >caused this listserve, he *gave* of himself, something I consider of
>> >great
>> >value.
>> > I'm glad that you brought this up and shared your strategy.
>> >Hopefully
>> >others will follow suit and give of themselves, even if that be a
>> >beginner's question, one that all of us who already know the answer
>> >asked
>> >at some point in the past.
>> >
>> >-- Frank :-)
>> >High Return on Investment using Technical Analysis
>> >http://www.usinternet.com/users/fbg/
>> >Minnesota Long Distance Canoe Racing
>> >http://www.usinternet.com/users/fbg/mnlong/
>> >------------------------------------------------------------------------
>> >
>
>
>
>
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