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Note: My comments were in regard to discretionary trading. Systems are a
whole different discussion. My ideas are about the art of trading and are
not intended to be a personal attack on anyone.
First, I did not say that anyone who writes a book is a failed trader. I
admit to having read a few books about trading. Except for one, what a waste
they were. That one is by Gann and that is all I'm saying about that. Please
no one ask which.
Second, I meant that if people can't find a few tricks or patterns, ie.
hooks, breakouts, etc., to trade, by watching the data on their own, that
they should do as I said. As an example, if you simply can't learn to golf
what good is it going to the course for years. I know, I can't golf and I
know I never will. I once worked at a country club and could golf for free
and get free lessons:)
It is the words of other traders themselves that I was referring to when I
said that they had to keep at it for years. They stated that they had to
keep trying and learning, some for as many as 20 years in some cases before
they truly understood. I believe that it is possible to know volumes about
something and not truly understand it. Not all those that keep at it will
succeed. If a person finds the Rosetta stone and can read the truth, how
silly will something that someone says that is not what the symbols are
about sound to them? That's how it is when you understand.
So, I see not contradiction and sweeping gerneralities are my specialty
because specifics are for those that can't see a forest.
Prosper
> I think it's unfair for you to categorize anyone who writes a book as a
> 'failed trader.' I'm sure you have read a good many books, may even be
> reading one now, and will certainly read more in the future. If all
> these authors are such losers, why is your book case overflowing with
> their useless, failed crap?
>
> You also say that "If you haven't got a clue, withdraw your money from
> your account
> and keep your day job." But then you say "The exception are those that
> keep going into battle,
> sometimes for as much as 20 years." Well which is it, close the account,
> or keep going into battle?
>
> Your contradictions and sweeping generalities don't need further
> discussion; they need closer examination by you, for yourself.
>
> Regards,
> Monte
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