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Very interesting post.
Dr. Alexander Elder writes books, sells software, offers seminars and
personal coaching/consulting. Anyone know if he trades?
Chuck Lebeau develops systems. I love his writings. Anyone know if he
trades? Same questions with Van Tharp.
What about Ed Seykota? No doubt about his trading abilities and
wealth. So why does he offer a consultation service at Incline Village?
--- In equismetastock@xxxxxxxxxxxxxxx, superfragalist <no_reply@xxxx>
wrote:
> I should make a couple of corrections to my last post.
>
> It shouldn't say "most" seminar promoters, it should say "many"
> seminar promoters.
>
> Before I get a bunch of emails telling me how great candlesticks are,
> I have no problem with candlesticks. Nison's products are the best on
> the subject, no question. Since he's told people I know that trading
> is too risky for him, as long as someone knows he's not using his
> tools to make money for himself, I have no problem with others using
> his tools. If someone wants to use candlesticks, which I do from time
> to time, his books are the best source of info.
>
> The editorial I mentioned a link to in my other post regarding the
> editor of Active Trader Magazine saying he is a bad trader is good for
> several reasons. He says trading is very hard. He says he's not good
> at it. The questions that raises for me is here's a guy with access to
> the very best of everything in the trading world, and he's not getting
> it done. That should cause everyone who is thinking about trading to
> stop and reconsider.
>
> However, the good news is he tries to trade, so at least he has some
> perspective on the articles he approves for publication. I would
> prefer he were a great trader, then more of the articles might have
> value. However, that's only speculation.
>
> As far as the people behind the scenes go, I don't care if they trade.
> If they happen to be mathematicians like David Sepiashvili who apply
> their math to developing new indicators, great. If David says he's a
> trader and his tools make him money, then disclosure of some type is
> necessary to set the correct expectations. If David says he's not a
> trader but a consultant to traders, then that's a different story.
> I'll look at his material with zero expectations. I'll test it and if
> I like it I might use it. To me it is important how someone positions
> themselves.
>
> I used to trade but I don't anymore. (Why did you stop? Did you get
> too old to see the charts, or maybe you got tired of going broke every
> three or four years.)
>
> I made millions using this technique. (Why didn't you keep on making
> millions from your trading rather than fishing in my wallet?)
>
> Trading is too risky for me. (Well, then maybe it's too risky for me
too.)
>
> I wish I could use my tools to make money the way you'll be able to
> make money, but I just don't have the psychological make up to trade.
> (However, I do have the psychological make-up to take your money and
> sleep well every night.)
>
> Wouldn't it be nice if you knew when to buy low and sell high. (Okay,
> let's finish the statement. "and wouldn't it be nice if I knew how to
> do that too.")
>
> I'm so busy selling seminars, systems and tapes, I just don't have
> time to trade. (Okay, let me think about that.)
>
> When I use the term, trader, you have no idea if I mean one trade a
> year, one trade a day or one trade one time and then I knew I had
> better find something else to do. (Hmmm, I thought trader meant you
> were trading all the time--in your hotel room, from the airport, from
> resturants when your Blackberry goes off!)
>
> I'm sure other people can think of many more ways information is
> positioned.
>
> What I care about is some disclosure so the right expectations are on
> the table going in. When I write trading articles I say in the
> articles how well something works for me. I don't disclose how much
> money I make. I put everything in percentages whenever possible. At
> least the readers have some clue as to what my reality is rather than
> having wild eyed expectations.
>
> Roy doesn't give trading advice. He only gives coding information. His
> coding track record is obvious.
>
> In the other articles, which don't give trading advice, but do
> describe someone else's trading techniques, discussing the returns
> from their methods is up to the person that wrote them.
>
> If Roy wrote trading books, I would hope he would disclose his trading
> activities.
>
> Bernstein indirectly discloses his results. Clayburg doesn't and
> Ehlers doesn't. If a guru manages other people's money often there is
> some disclosure. No Load FundX for example tells you exactly how much
> they make following their own advice. Since the fund has to report to
> the shareholders, it doesn't matter what the newsletter says they
> make, the mutual fund figures are the ones someone should base their
> evaluation on.
>
> There are books I like such as the Clayburg book that don't disclose
> John Clayburg's track record. I've spoken with him a few times and
> know what he uses in his trading. However, I would be more comfortable
> if he had more information on how much he trades and his expectations
> for his methods. Like most traders, he probably knows that
> information, but if he put it in his books his books might not sell.
>
> Books sell due to marketing and a big part of marketing is the
> perceived expectation of making lots of money in buyer's mind. If the
> writer does anything to change that expectation, book sales will drop.
> Trading books don't sell many copies anyway. It's a small market. Most
> of the time trading books are simply intro's to high dollar system
> sales or high dollar seminars.
>
> I hope this clarify's my opinion. I don't expect many people to agree
> with it, but maybe for some it will be worth reading. For others they
> should take me off their reading list completely--I would be happy
> with that.
>
> So far my royalities from posts have not met my expectations so losing
> readers won't drop my income by any substantial amount.
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