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In a message dated 2/26/00 4:26:54 PM Pacific Standard Time,
bheisler@xxxxxxxxxx writes:
> I don't pretend to be an expert on trading or the financial markets nor do
I
> consider myself one.
You charge $1450 for your course. I don't believe you think of yourself as
just a regular Joe.
>And I do not know what you are referring to with the
> Ross Hook/1000% markup comment.
As Lawrence pointed out it seems (from your posts recapping your big winning
trades) that you use the Ross techniques. His books sell for $150 to $170.
>And even if your accusation were true,
I'm not accusing you of anything. I'm just reviewing facts.
>we both know that
> there is one hell of a lot more involved with trading than your entry
> techniques...unless of course you are part of the crowd that believes the
> system makes the trader.
Agreed. BTW Ross talks about entries, exits, and more.
> Trading is no different than any other business in that the numbers need to
> make sense or the business will falter.
One of Joe's books is called "Trading is a Business."
>My post was just an attempt to get
> folks to take a look at their results in possibly a different light. And
if
> my intention was to sell a product to someone or to the List, I could sure
> have spent the couple of ours today it took preparing that post to much
more
> productive use.
This was my only original point: I thought you could have been more brief.
The post seemed to belabor obvious points. Moreover, I didn't disagree with
those points. You and Om disagree with me: I'm OK with that. And BTW I have
no problem with you selling at your site or posting your link here. Never
said I did.
> Now that you have proven your ability to make personal attacks and
criticize
> others on the List, how about making a contribution of your own that could
> benefit the List members in their trading?
Funny, I took your previous post as an attack. Indeed your posts seem to
insult the intelligence and integrity of system developers or anyone with a
link tagged to their posts (even though you were posting your link here about
a week ago). Moreover, you are selling a method, although you say it can't be
coded. I'm not clear why that is different than selling a system or other
service.
But, you are right, and I do try to stay positive. Here is some code. I call
it the Don't Know Joe System. I do not infer in any way that Bob uses this
method, nor do I use it, nor do I recommend that anyone else use it. Just for
fun. Anyone with TS can see where the entries and exits would be, and how it
would perform. On the other hand, the only way to see how a discretionary
trader's method performs is to look at their statements. BTW, years ago Bruce
Babcock urged Joe Ross to show the world his track record. Joe supposedly
refused.
{Try on 5 minute SP: $3500 stop and $7500 target. Exit market on close}
IF H < SWINGHIGH(1,H,2,33) and waverage(c,20) > waverage(c,20)[5] {or any
filter you want to add: MA, ADX, previous closes, whatever} THEN BUY AT
Highest(H,5) + 1 POINT STOP;
IF L > SWINGLOW(1,L,2,33) and waverage(c,20) < waverage(c,20)[5] {or any
filter you want to add: MA, ADX, previous closes, whatever} THEN SELL AT
Lowest(L,5) - 1 POINT STOP;
If barssinceentry > 15 then begin
If L > entryprice then EXITLONG AT entryprice STOP;
if H < entryprice then EXITSHORT AT entryprice STOP;
{IE: be patient: let your profits run}
end;
Beware! This system (method) may get chopped up in congestions.
WARNING: Trade at your own risk! Commodity trading can be risky and is not
appropriate for everyone!
NO CLAIMS ARE MADE THAT THESE TRADES HAVE BEEN
OR ARE LIKELY TO BE PROFITABLE.
REQUIRED CFTC RISK DISCLAIMER:
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF
WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT
WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN
FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE
RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR
TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS
IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN
ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO
HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF
FINANCIAL RISK IN ACTUAL TRADING, FOR EXAMPLE, THE ABILITY TO WITHSTAND
LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING
LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING
RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL
OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE
FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS
AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
Bill Wynne
SmartTrades.com
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