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Walt Downs wrote:
>
> Hi everyone,
>
> I am interested in opinions on Welles Wilder's "Delta Phenomenon".
>
> Normally, I don't give this stuff much credence, but I am a fan of
> Wilder's works, and tend to give him a little more credit.
>
> STILL, 175.00 for the book is pricey. Anybody out there already have
> this book? Was it worth the asking price?
>
> Thanks,
>
> Walt Downs
> CIS Trading
Walt,
First I will confess that I have never read this book. I went short
the "Delta Society" when it first was introduced at $35,000. I am
waiting to cover my short by buying the $175 book for $20.
If you know the legend of Delta you know that Welles Wilder bot
this concept from Jim Sloman of Chicago for $100,000. I called Mr.
Sloman
at his home when the system was first introduced by Wilder.(1983?)
Sloman agreed to talked to me for a few minues but warned me that he may
have to hang up soon because the movers were coming. <g> Apparently,
Jim was taking his $100,000 and moving to Hawaii.
So what did Jim Sloman say? He assured me that his system could
forecast turns in the market weeks or months in advance. He said
it was based on some proprietary formulaes. I replied that the only
approach that I knew that could perform that type of function was
Astrological in nature and ask him if it had anything to do with
Astrology or the planets. Jim assured me that it didn't. Jim also
told me that he had been a futures trader and broker in Chicago. But,
I got the distinct impresssion that he had only moderate success as a
futures trader and the biggest trade was selling his system to Wilder.
Of course we now know that a major portion of the system is based on the
Sun, Moon, and Earth positions, etc. So it is Astrological in nature.
But to say Delta it is Astrology is like saying that "Chopsticks" is
music. Delta uses one tiny tip of the iceberg of Astrology with a blind
eye to rest of the discipline. Why only learn to play "Chopsticks" with
two fingers when one can learn to properly play an instrument that will
produce beautiful music? I have yet to find anyone who claims to have
used this system and get much better than a 50% correlation. A simple
lunar cycle correlation study as was posted by Clde Lee on RT a few
weeks
ago shows much better results than that. Also see the June and August
issues of Technical Analysis of Stocks & Commodities Magazine.
The bottome line is if type of approach is attractive to you why
not learn the whole enchillada and learn it right? Take the time to
learn the basic principles of Astrology and how those principles relate
to the markets. Then, you will be prepared to undertake whatever type of
extra-terrestrial cycles analysis and forecast that is required by the
market indicated. You will be more than just a two finger one tune
player.
By the way, a few years ago, Wilder advertised Delta by saying
that it was the secret weapon used by a few floor traders in Chicago.
Given that it was Astrologically based and I was one of the few floor
traders to use Astrology during the time of Delta's development, I guess
he was referring to me. However, Wilder also blatantly claimed that it
was not Astrology and had nothing to do with Astrology. Yea right, and
Bill Clinton never 'inhaled'. <G>
Given all the trading systems that Wilder has sold, has anyone ever
seen an independently monitored real time track record that he traded?
Frankly, rather than learning anything about trading from him, I think
it would be more productive to take a course from him on marketing
trading systems.
Cosmically,
Norman
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