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Conrad Bowers wrote:
> I have found the same thing for me re systems. I find it very difficult
> to follow a system where I just receive the signals because I don't know
> WHY the stop is where it is , etc. Nor do I know how careful the author
> was in his/her backtesting (even tho I imagine most are much more
> knowledgable than I, since I've only done this part-time (?) for 2
> years. (Finally, my initial plunge into commodities was following a
> signal service; I followed it fairly closely and ended up with 25% of my
> account left. That makes it very hard to trust someone else's work,
> even though part of the fault was mine for not understanding about
> drawdowns.)
>
> I have come to the conclusion that unless I can purchase the system and
> understand it, as well as test it myself, I'm probably wasting my money
> subscribing to a signal service or a purchasing a black box system. If
> I can purchase the system, then I might have the confidence to trade it,
> or might learn something from the techniques used.
>
> Conrad Bowers
Couldn't resist. I believe that every one should have their own systems
and methods by all means, but I contribute a lot of my knowledge to
using other people's systems and attempting to understand them. It would
take a lot longer for a "fresh" trader to find their ways unless they
can use a newsletter or a system as a stepping stone. I agree that a
newsletter should have educational value. I also think that it's not the
system or the recommandations that make you money but your trading that
does. The knowledge that's really vital to trading can not be learned
from a book, it can only be learned from people that have been there and
done that. A newsletter or a system should not give away their
methology, but help you acquire the market knowledge and the time in the
trenches that other wise you could not have. There is a lot more to
trading than systems.
Secondly, you are assuming that everyone has the time to do their own
analysis. You are also assuming that all systems and newsletters are
####, some of them can help you quite a bit. There are newsletters out
there that provide better analysis than most people can do themselves.
This is by no means an attack or an advertisment, just defending...
--
Shay Horowitz shay@xxxxxxxxxx
Zeus Investments, LLC.
13918 E. Mississippi Ave. http://www.zeus-holdings.com/
Suite 245
Aurora, CO 80012
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