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I just wanted to second Neals sentiment regarding Joe. I think that Joe is
one of the good guys in the business and feel lucky to count him among my
friends.
His work is solid and his book has a lot of good ideas in it.
Just my two cents.
At 08:04 AM 1/20/99 -0800, Neal Hughes wrote:
>At 08:57 AM 1/16/99 -0800, tj wrote:
>>well, joe ross for one. his favorite for determining the trend is the
>>3X3 (trading is a business, 1991). problem is, the markets, and
>>especially the s&p (his favorite), have changed so much that most of
>>his stuff is obsolete. i agree with dennis on this one, in that i
>>don't have much use for displaced ma's anymore.
>>
>>can't say much 'bout dinapoli, other than ross said (in the newsgroups
>>and personal email) that dinapoli stole most of his fib and displaced
>>ma stuff. i need to read dinapoli's book to see who's the liar. i know
>>that there's bad blood between em. i think that most of em steal from
>>one other, similar to system vendors, adding a minor "twist" here and
>>there so they can't get caught. precious little is new under the
>>trading sun.
>>
>>TJ
>>
>>truth is, most are snakes, intentional or not, so watch where ya tread
>>;)
>>
>>---Neal wrote:
>>I'm interested to know which "latter day gurus" use the displaced moving
>>averages.
>>
>
>Hi TJ,
>
>I've known about the "bad blood", but each time I ask DiNapoli
>about it, he's polite, not wanting to dig up dirt from the
>past.
>
>I discussed your email above with DiNapoli, and have written
>his perspective below, a summary of that discussion.
>
>Dinapoli has researched DMA'S since the early 80's and can prove it thru
>publications and speaking events (Futures Symposium International) dating
>back to 1986-- He created and sold a software package that displaced moving
>averages before Metastock did or Futures Source did. In fact it was a result
>of his speaking events that Futures Source offered DMA's back in 1988. I've
>not seen what Ross can show to substantiate any development work on DMA's.
>
>I've attended several of Joe's private and public seminars, when asked he
>does give credit that he learned of Displaced Moving Averages from a trader
>who exposed Joe to the idea. That trader (I don't know his/her name) did
>not give Joe the specific displacement/formula. So after much research and
>testing in the markets Joe arrived at his own preferred
displacement/smoothing
>parameters.
>
>I know Joe very well, he is certainly not a snake, but I understand your
>comment (above). There are many people who take advantage of traders.
>
>DiNapoli has demonstrated his sincerity to me many times, he has built a
>reputation on dealing with clients honestly. He has no problem telling
>(experienced or new) traders the blunt truth. Whether they like what they
>hear or not.
>
>Based on what I know about him, no one would take seriously
>the idea that DiNapoli "stole" Fibonacci stuff from anyone much less
>Ross!
>
>Thanks for the info, it's been an interesting diversion. I use Displaced
>Moving Averages, so this topic is very interesting to me.
>
>-Neal.
>
>-----------------
>Neal on the 'net.
>Trade well. Train hard.
>http://www.halcyon.com/neal/
>
>
Stewart Taylor
Taylor Fixed Income Outlook
Voice: 501-219-9774
Fax: 501-228-0963
E-Mail: staylor@xxxxxxx
Web Site: http://www.cei.net/~staylor/
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