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In a message dated 9/18/99 11:24:59 AM Pacific Daylight Time,
Peter2150@xxxxxxx writes:
>
> All education has its price. I too have spent money on Joe's
> books. Bought three of them to the tune of $475. Could I trade any of
> his
> techniques. Nope. Never could, and still can't. BUT, they were worth
> every penny from one simple idea I got from them, which I hadn't seen
> anywhere else.
The Joe Ross story is filled with contradictions. Babcock outlined many of
these contradictions and 8 pages of excerpts can be found in "Profitable
Commodity Futures Trading form A to Z." The essence of those reviews was:
"the book did not" back up some of its claims, "but so what? This is one
helluva book!" (re. Trading by the Book). And "at $160, we can't call this
book a bargain, but its certainly no a rip-off either."
I have read several of Ross' books. I agree with Babcock and Peter (if you
get just one really good idea the book (the system, whatever) it may be worth
it). Personally, I've found some of Ross' ideas very helpful for trading
strategies, programing EL code, and for trading organization. He admits he
did not invent or discover anything in his books, but what he does offer is
his own complete plan. He shows right where his stops go, when he moves them,
and why. It's not all for me, but there are good ideas there: you need to
take what you will and tailor it to your *own* plan.
I have clients who did one on one seminars with Ross back in the early 90's
and they thought he was great. I do not know Joe and have no connection to
his company. I do think he is a good read for beginners and even some more
advanced traders and system developers. Compared to some $1000 seminars and
courses I've seen discussed on the list I think he's a bargain.
As to whether or not Joe can trade I do not know. Just yesterday I heard from
a member of the list about a money manager who was also the author of one of
the "top systems of all time." Turns out he was a total bust as a trader. You
never know. Don't blue sky yourself: the best systems and books will not make
you rich. You need to do the work and find out what's right for you.
Bill Wynne
SmartTrades.com
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