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Whoa! Let me read that again...Richard Dennis wasn't a talented trader but
relied on LUCK??? to amass many hundreds of millions in trading profits
from the 1970's until now?
What are folks smoking these days? I've read on this forum that Warren
Buffett is a has been, George Soros just can't cut it and now, Richard
Dennis's hundreds of millions were made because he was lucky!
I have had the pleasure of knowing some of these folks, trading against
some of these folks and even executing some of their orders in the cash
currency markets...sorry, folks. The people that say these things just
don't know a thing about these traders.
As for picking up tips and tricks...I find them where I can. If I pick up a
trick for $150 and make several thousand dollars once I am finished
researching it and then carefully begin using it in my arsenal of trading
tools, to me, the price of that tool was cheap.
The beauty of trading is that it is [now mostly] done by other humans
making judgements. Beauty and the use of a tool is in the eye of the beholder.
I have a strong disagreement here. Sorry...I conclude you don't have a clue
about Richard Dennis.
Best,
Tim Morge
At 07:19 AM 2/21/01 -0700, Prosper wrote:
>The fact is that the tools or methods touted by many big name traders don't
>and didn't work for them either. Why spend $150+ to find a few tricks that
>might work for you. You can find your own tricks unless you really haven't
>got a clue. If you haven't got a clue, withdraw your money from your account
>and keep your day job.
>
>I have done a lot of background checking on traders and most don't do well
>in non-trending markets. I figure that one tenth of 1 percent have gamblers
>nack, those like R. Dennis etc, who will make a killing for a while until
>their luck runs out. The exception are those that keep going into battle,
>sometimes for as much as 20 years. Eventually some of those traders finally
>learn what is really going on and how to use it. The rest write books.
>
>Prosper
>
>----- Original Message -----
>From: "Monte C. Smith" <mcs@xxxxxxxxxxx>
>To: "Timothy Morge" <tmorge@xxxxxxxxxxxxxxx>
>Cc: <omega-list@xxxxxxxxxx>
>Sent: Tuesday, February 20, 2001 2:12 PM
>Subject: Re: The Ross Hook: More Please
>
>
> > This is true, Tim. And the really interesting thing is that one person
> > who does his homework will successfully incorporate some of these
> > techniques into his trading, while another who has done his homework
> > will find no practical use for them.
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