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For trading commodities I agree. For stocks, I'm not a fan as I said.
I've read a lot of contridictory articles. I just keep running into
guys who didn't do very well with the system.
I guess they didn't follow the rules.
JO
--- In equismetastock@xxxxxxxxxxxxxxx, JayTownsend@xxxx wrote:
> In a message dated 10/8/2003 7:41:24 PM Pacific Daylight Time,
> kelols@xxxx writes:
>
> > They didn't tell you everything. You can't make as much trading
> > stocks using the same system and due to the lack of leverage
found in
> > contracts you need way more breakouts to reduce risk and insure
> > success.
> >
>
> I trade commodities, which is what that system was used for. Most
> commodities, including financials, have annual cyclical patterns
and breakouts is a way
> to capture some of them. (Moore Research charges an arm and a leg
for a
> system that predicts the exact date of a move in commodities, long
or short, based
> on historical information. You can pay their price, use a $50-100K
account
> and take every trade and hopefully, gain an annual 20%. Breakouts
can offer
> much better.) And no, that site doesn't have the final answer.
But if you
> follow or read a lot about breakout systems, you will be able to
glean good
> information on entry, and on stops from that site. They also tell
you to get ahold
> of everything that you can, and read and learn from it.
>
> Every trader is going to go through a lot of material, and probably
a few
> assets, to end up with winning style or system.
>
> In my opinion, that site offered a lot of great breakout
information that
> just isn't available in other places.
>
> Jay
>
> Before you get too excited about the information on that site, you
> need to do some more reading.
>
> They didn't tell you everything. You can't make as much trading
> stocks using the same system and due to the lack of leverage found
in
> contracts you need way more breakouts to reduce risk and insure
> success.
>
> Some of the original turtles did okay trading. Many of the ones
that
> came after the first group using the same system went broke. Why!
> Because they were trading with their own money and not the house
> money. History is a good teacher.
>
> I've used Donchian formulas to write systems. Many of the most
> successful commercial systems use Donchian as a basis.
>
> I'm sorry to say that particular webstie is not the last work on
the
> turtle system.
>
> Good Trading
> JO
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