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>From: ianwaugh@xxxxxxxxxxxxxxxxxxx (Ian Waugh)
>Reply-To: ianwaugh@xxxxxxxxxxxxxxxxxxx
>To: omega-list@xxxxxxxxxx
>CC: ianwaugh@xxxxxxxxxxxxxxxxxxx
>Subject: Re: The Ross Hook
>Date: Sun, 18 Feb 2001 21:33 +0000 (GMT)
>Some people said it was similar to Larry Williams' Oops!
The Ross Hook has little in common with LW's Oops:
Oops is fading a down gap in an uptrend (i.e. everyone that sold on the gap
down goes "oops!" when the market
starts back up again. Ross Hooks do not require gaps at all, rather just a
correction against the "trend."
>although Bruce Babcock - the
>critic's critic and LW calls him - has voiced a reservation or two about
>his books.
I remember Babcock saying he thought one of the early books (Trading by the
Book?) was "one hell of
a good book!" If I remember, he had doubts about Ross's claims to actually
have been a trader, even implied Ross was a newbie Ken Roberts student circa
1989 (?), and not a trader at all, but Babcock thought the book was a good
value even at $150.
>
>Any comments and opinions would be appreciated.
I've read some of Ross's books. Ross admits he uses a "method" and not a
system. Nonetheless, some of those ideas can be used in systems. The Ross
Hook is basicly the breakout of a swing high or low (with the "trend") ...
it all depends on on what filters you use to determine the trend, and even
Ross has a whole book
of different ideas on flavors and filters for his hooks: "Trading the Ross
Hook(?)"
I also had a friend who was tutored by Ross many years ago. Fwiw, and I
don't claim this had any connection to Ross's method, last I heard the
friend had retired on his sail boat to the South Pacific.... He did have
good things to say about Joe, though.
BW
>
>Ian
>
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