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Walt Downs wrote:
>
> This is a re-send of an earlier post which apparently did not make it
> through.
>
> The attached is the CIS TREX Opening Statement Post #1 which is the
> first in a series of four posts.
>
> Walt Downs
> CIS Trading
>
> 1. Rick Ratchford.
>
> As those who were around during this discussion can attest,
> this thread definetely became heated. : ) BUT, while Rick and
> I couldn't resist the urge to take a few tentative pokes at each
> others methodologies, I think we both maintained enough
> composure and decorum not to let things get too out of hand,
> even though we were OBVIOUSLY of an opposite viewpoint.
>
> I would like to say that, personally, I have alot of respect for
> what Rick has done on this forum in regards to his posts for
> traders in which he drew on his knowledge of the markets to
> present many fine articles on risk control and general trading
> psychology and philosophy. His philosophies on adapting to
> the market much the way as a tree bends in the wind, were
> particularly astute.
>
> What I came away from this thread with, was a lasting impression
> of Rick's passion for Fibb/Gann methodologies. I would be a fool to
> disregard such obvious emotion. If Rick feels that strongly about
> it, it is very likely that there are many others who feel the same.
> As such, REGARDLESS of what statistical conclusions I might
> have reached concerning Fibb/Gann ratios, emotion IS relevant to
> the markets. Therefore, these ratios, exhibited through emotion,
> and through the innate ability of the BELIEFS of a market's
> participants to move that market, are surely valid.
>
> 2. Norman Winski
>
> Normans response was short, and logical:
>
> He pointed out that REGARDLESS of my statistical findings,
> it was possible for Fibb/Gann ratios to display good results
> when applied within the larger framework of planetary cycles.
> He also suggested that if I had not taken the application of
> these ratios under a broder methodolical umbrella into account,
> then it was entirely possible that I was "missing the forest for
> the trees" : ) All well put and very logical.
>
> Ignoring such logic
> from such a wise old tiger (See the post "The building of a
> Trading Analogy Post # 3" for more info on tigers.) would indeed be
> foolish.
>
> 3. Joe Duffy
>
> Joe was kind enough to respond briefly to some of the posts.
> His response I found VERY interesting.
>
> In response to my somewhat lengthy explanation of my theories
> and statistical conclusions, Joe's response was:
>
> "Thanks for the rather lengthy post, too bad mine isn't as long!"
> Then he dropped the subject.
>
> This was a very concise and somewhat
> enigmatic response which definetely gave me pause for thought.
> In essence Joe was saying one of three things:
>
> 1. My conclusions were valid and he was not willing to discuss the
> point.
> (This would be an egotistical and very dangerous assumption on my part
> so I tend to give the following two interpretations MUCH more weight. )
>
> 2. While some of my conclusions may have had merit, Joe had in fact
> found
> many instances under which Fibb/Gann ratios could be successfully
> applied
> (Ala Ratchford and Winski) , and CERTAINLY wasn't about to discuss them
> with ME. ; )
>
> 3. That I was a total "Murrey" case whose analysis was simply
> fallacious, and could be written off as so much tripe. A totally
> reasonable viewpoint, since Joe didn't really know me from Adam. : )
>
> Again we have a very cagey tiger saying much,
> by saying nothing at all !
>
> Please move on to the post: "TREX, knowledge gained ,the
> findings, and birth of TGR Post# 2"
>
> Thanks,
>
> Walt Downs
> CIS Trading
This is interesting. I just wrote you a post with a question on Live
Cattle (quite civil, I assure you), and then come across this email
message to the list.
Mr. Downs, you are a class act regardless of our differences and you
have my utmost respect sir.
I must comment on Mr. Duffy's short response to you. Based on previous
emails between I and Mr. Duffy a year ago, my impressions of him is that
he was NOT implying thay you are a total "Murrey" case. I think he would
have just ignored you altogether if that was the case. Why? For one, his
not participating with us here on RT as he used to shows great restraint
on his part, and/or he really doesn't feel he has to bother. Make sense?
If not, won't be the first time I've gone belly up. Ah, the problems of
imperfections. :)
I truly believe your #2 statement is plausible. Although I was already a
Fibonacci trader by the time I came to reading Joe's books, his Turning
Points book I thought was excellent. He apparently puts a lot of
emphasis on Fibonacci/Gann trading techniques to have come up with his
material.
Now, I've got my own twist on Fib/Gann, having melded it into the FDate
trading method with my own set of rules, just as you have done with
yours. The point is the Fib/Gann 'foundation'. I don't even think Joe
uses just straight Fib/Gann himself. I'm also sure he isn't going to
tell us anyway. :)
I can tell a trader/person that can go far, and can do great things. He
is one that displays a certain level of humility. Yeah, you have an ego,
but who doesn't (who, me? :). The point is that a humble one can learn,
a haughty one closes him mind and cannot see the obvious. You have shown
humility Walt, and this tells me you have a mind that adapts, grows,
flourishes.
Your posts therefore reflect that at times, and the members here
appreciate it.
Let it be known that a little confrontation is really a display of
passion for ones ideals or beliefs. Kept on a non-personal level it can
be somewhat beneficial if not allowed to get out of hand. I as well
received a basketful of those Duckie emails all at once. Where did they
come from? I guess the server was reminencing (sp?). Could have been
worse.
While on the subject though, and for those on RT reading this. We could
do without all the one-liners that said, "Ditto", "Gravel Sounds", etc.
Those in my opinion was worse than all the debating posts. Let's keep
those one-liners off this list. We really DON'T CARE about all your
"dittos", etc.
Okay. I spoke for me, I spoke for Joe Duffy, and I spoke for Paul and
Barnabas. I'm gone. :)
cheers!
:)
rick
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