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In a message dated 98-06-07 23:06:05 EDT, tsci@xxxxxxxxxxxxxx writes:
> I know many of you on this list personally and it is unfortunate that we
> have had some words with a few. I think it is time to get on to some more
> productive matters since I assume that is why we are all on this List in
> the first place.
>
> We all know that technical analysis works. What would GANN have thought?
> If you don’t believe TA works, take your TradeStation and throw it out now
> and stop testing systems. The real pros in this business know that the
> markets are traded technically vs. fundamentally.
>
> Those of you who want guarantees in this business will find it hard to be
> successful traders—it doesn’t fit well with proper trading mentality.
> Nobody could guarantee future performance and we never claim to. By
> definition, trading is the taking of signals without knowing the outcome.
I wasn't going to bother responding to this, but I have to. Yes Michael, I
agree with absolutely everything you said. BUT, and this is a big but, the
reason, I would look for a guarantee from you, and the "you" includes you and
all the system vendors, is not because I want a guarantee about trading, but
because of the promises, made in advertising your products. When ads promise
a *new*, *unique*, *discovery* , *proprietary* , all of which imply you have
come up with some wonderful discovery that will make the non sucessful trader
sucessful, and all that is under the hood, is stuff, found in every book, and
magazine, anothers words, not new, not unique, not a discovery, but a copy, of
something, then yes I want a guarantee.
What you wrote, is absolutely true. I'd like to see it copied in ads
for all the systems on the market. Then the buyer would realize, that he's
not buying a miracle. If I want to build a house, I can buy a hammar for
$10, and then go to work. What most ads imply is I am paying $3000 or more
for the hammar that will build the house for me, and of course what I end up
with is the $10 hammar. What I want is the guarantee for the 2990 difference
promised.
Pete
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