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George, Bob, Fred and Bill, Jack -- are they all protestant white males?
Please include Sergei, Jen Yu, Susan, Francois, Ravi, Carlos et al in
these here trading allegories.............
--- In equismetastock@xxxxxxxxxxxxxxx, superfragalist <no_reply@xxxx>
wrote:
> Here's something that Jack told me he realized recently.
>
> George develops systems but he failed as a trader.
>
> Jack uses George's systems and he's successful. Jack realizes that
> when the market is in an uptrend, 60 to 80% of all stocks are going
> up. George, Bob, Fred and Bill's systems all work good when the market
> is going up. It doesn't matter how complex the system is or how
> simple it is, it's going to have a very high probability of working in
> an uptrend.
>
> Jack knows this and apparently George didn't. Jack realizes that
> George, Bob, Fred and Bill's systems are going to have poor returns if
> they're picking longs when the market is in a downtrend.
>
> While Jack also understands that George's system can work even though
> George failed as a trader, Jack understands that if he wants a mentor,
> successful people make better mentors than unsuccessful people. While
> he uses George's system, Jack has realistic expectations based on what
> professional traders have told him and not on what George said. He
> sees George as a tool provider and not as a money maker. He listens to
> George's instructions on using the tool but not on making money. If
> Jack wanted to sell systems, then George would be good mentor. If Jack
> wants to make money from trading, George has limited ability to help
> Jack.
>
>
> So Jack picks a system that he can understand, and he only trades it
> when there is an uptrend. Jack understands that he can tell when there
> is an uptrend using simple moving averages and that any lag in the MAs
> is irrelevant as long as he goes long with a portfolio of around 25
> stocks sometime after the uptrend has started.
>
> If Jack wants to go short, he tests George's system to see if it is
> any good at trading shorts in downtrends. If it's not, he finds a
> system that is good at shorting in downtrends, and he only uses in
> when there is a downtrend.
>
> Jack suspects that there is no such thing as a system that works in
> both uptrends and downtrends so he stops looking for ONE and is
> willing to use two systems when the conditions are right for each one.
>
> Jack also understands that there is no "one" best tool. There are many
> hammers for driving a nail. Some hammers feel better to some people,
> but no matter how many hammers Jack tries, he knows the limits of
> hammers and doesn't expect them to drive nails through steel or pick
> good long trades in a downtrend. Jack knows that a hammer won't build
> anything. It's his skill at using it that gets the house built.
>
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> --- In equismetastock@xxxxxxxxxxxxxxx, "metastkuser"
> <andysmith_999@xxxx> wrote:
> > Thanks for the reply -- it made me realize something:
> >
> > George develops systems and presents seminars. George has failed as a
> > trader. Therefore George's systems and seminars are bogus. --> FALSE.
> >
> > Condi uses George's systems and seminar learnings. Condi is a
> > successful trader. Therefore George's systems/seminars are good. -->
> TRUE.
> >
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "jawjahtek" <jawjahtek@xxxx>
> wrote:
> > > Some answers to your questions since I have met some of these
people:
> > >
> > > 1. Dr. Alexander Elder writes books, sells software, offers
seminars
> > > and personal coaching/consulting. Anyone know if he trades?
> > >
> > > Yes, Dr. Elder trades but it is a minimal level. He has tried and
> > > failed several times to use his trading methods for an advisory
> > > service. I'm not trying to disparage his work (or anyone elses),
I am
> > > just reporting what I know.
> > >
> > > 2. Chuck Lebeau develops systems. I love his writings. Anyone know
> > > if he trades?
> > >
> > > Yes, LeBeau trades his various systems, but he is far more
successful
> > > at selling his systems. In his case, his clients are institutions
> > > first. Systems that he sells to the average investor have already
> > > been "fully utilized" by LeBeau's big dollar clients.
> > >
> > > 3. Van Tharpe was apparently unsuccessful in any trading and only
> > > provides seminars now.
> > >
> > > 4. Ed Seykota, I haven't met him so I cannot make an honest comment.
> > >
> > > Bouns:
> > > John Ehlers (MESA and its various incarantions). John is an
engineer.
> > > At a session where I met him, he showed his partially successful
but
> > > unimpressive trading record. John readily admits that he hates
> > > trading.
> > >
> > > I think John Ehlers is a good example of the personality of a
system
> > > developer vs. the personality of a trader. Systems development
> > > requires a willingness to program accurately. Accurate programs
are a
> > > pain to write, test and debug for the average person. A good system
> > > developer's personality borders on obsessive perfectionism. Trading
> > > on the other hand is a very messy business. A good trader readily
> > > accepts that many trades will fail. Perfectionists do not make good
> > > traders. It is rare for a good programmer to be a good trader. It
> > > simply requires a different personality type.
> > >
> > >
> > > jawjahtek
> > >
> > >
> > >
> > > --- In equismetastock@xxxxxxxxxxxxxxx, "metastkuser"
> > > <andysmith_999@xxxx> wrote:
> > > > 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?
> > > >
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