|
PureBytes Links
Trading Reference Links
|
Well, I have to take up for the guys who write the newsletters and books.
Very few of them attempt to provide tripe information. If we think about it,
the whole business of the market is based on shared information. How many
listen to a broker? A talking head on CNBC? a newsletter? a friend? a warren
buffet/lynch or a Chande/DeMark? How many make decisions based on Analysis
by someone other than themselves(of course you might be using someone else's
work to do it)?
I am glad that the books on TA have been written to share the author's
perspective of what he has found to be effective. I don't like reinventing
the wheel. Most good TA books address money management and a way of looking
at the market. If someone has a better idea then tell us or write a book, if
you have something of worth, I will buy it as I would any good book on a
subject I am interested in, TA and trading.
I am interested in anything that makes me money, and I feel I have enough
knowledge and experience to decide what is good and what is bad or how I
trade and how I won't. The individual mindset determines the way we attack
the market. We can only act as we perceive the world. If we don't, life is
miserable and insanity is the next step.
Richard Estes
-----Original Message-----
From: Lionel Issen <lissen@xxxxxxxxxx>
To: Steve Denk <steve_dk@xxxxxxxxxxx>; metastock-list@xxxxxxxxxxxxx
<metastock-list@xxxxxxxxxxxxx>
Date: Tuesday, February 10, 1998 6:27 PM
Subject: Re: Trading gurus-Jeff Cooper Hit&Run
>Steve:
>
>Why dont you write this book? It sounds like a good idea.
>
>I can relate to your comments about Cooper's book. I feel the same way when
>I read books of this tripe. Some years ago I read the 1st or 2nd edition
>of a random walk down wall street. The technique seemed to lead to buy
>high sell low. As Paul Fisher and Warren Buffett have written/said the
>random walk idea is nonsense.
>
>Lionel Issen
>
>At 03:50 PM 2/10/98 CST, Steve Denk wrote:
>>Someone commented about Jeff Cooper already selling 250,000 Hit & Run
>>trading books. Yikes.
>>
>>I'd say it's a great idea, wonderful execution on his book, it has a
>>nice cover, but has anyone plugged his formulas into metastock? I did.
>>
>>As a visual medium, metastock is great. When you look at the hit and run
>>signals, I for one had to scratch my head. You call these tradeable
>>signals? Frankly, pass me the dartboard again. Of coarse, in his
>>defense, Mr. Cooper does filter his signals for momentum etc., but golly
>>- give me a fast stochastic against a trend, a "rally with volume"
>>indicator (MS6.5), and believe it or not, I'd say you've got a 500%
>>improvement over his Hit and Run (or his latest-momentum) techniques.
>>Toss in some smart money management, stop/limit order ability to buy
>>above below current bar and voila, here's the makings of a new book -
>>Hit & Run Improved! I wonder if it would sell 250,000 copies?
>>
>>______________________________________________________
>>Get Your Private, Free Email at http://www.hotmail.com
>>
>>
>>
>
|