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tedrake wrote:
>
> > Date: Wed, 14 Jan 1998 13:43:21 -0800
> > Reply-to: nwinski@xxxxxxxxxxxxxxx
> > From: nwinski <nwinski@xxxxxxxxxxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Subject: Re: GEN - Making a Living
> > X-To: Austowne@xxxxxxx
>
> > Austowne wrote:
> > >
> > > Jim,
> > >
> > > Thanks for your comments. Is there anyone out there just getting started and
> > > not knowing where to turn who has not fallen prey to a glossy ad in one of the
> > > trade publications? They're gorgeous aren't they. All those pretty colors.
> > > Buy at this cute little green arrow....sell at this red one...We all know, as
> > > well, that the old saying "if it sounds too good to be true, it probably is"
> > > likely applies to this situation, but reason is obfuscated by the blur of
> > > "mine, mine, it could all be mine!" emotionalism and we proceed to cascade
> > > over the cliff along with all the other lemmings.
> > >
> > > The SEC should rule that the priviso/disclaimer you always see attached to
> > > futures promotional literature needs to include a disclosure with respect to
> > > the relative income accrued from the promoter's use of his own system versus
> > > that from the promotion itself.
> > >
> > > Dave
> >
> > Dave,
> > What's your point? That people interested in trading are idiots and
> > that our society needs more government regulation? I think to the
> > contrary. Government regulation tends have the opposite effect of its
> > intent. Government regulation usually tends to protect, by virtue of
> > government certification, the biggest and best con artists. A perfect
> > example is Wall Streets' swarm of analysts who are needed in order to be
> > in complicance with "prudent man" & other government fiduciary
> > regulations. Millions of dollars are spent every year to produce tons of
> > worthless reports by "reputable firms" that mislead investors with tons
> > of out of date or useless information. Many reports are done with the
> > knowledge that the brokerage firm holds a large position in a particular
> > security and they want to market it to their customers so the firm can
> > sell at a profit. This is all done under the guise of government
> > regulation. It just goes to show that the best cons are just like cock
> > roaches, you can't kill them, they will adapt to whatever you do to
> > them, and the tougher you make it for them, the tougher and stronger
> > they get. I would rather have all the pests out in the open so I can
> > make my own judgements as to which insects are beneficial to the food
> > chain and which are just parasites.
> >
> > Contrarily,
> >
> > Norman
> >
> >
> May I suggest a middle ground? Would be traders are idiots, and we
> should have less goverment.
> Dr.Thomas Drake,
> Tenorio Research
> email: tedrake@xxxxxxx
Dr. TD,
So, according to you, those who would like to be traders are idiots?
And what about those who continue to trade unprofitably for many years?
Are they anymore or less idiots then the beginners?
Curiosly,
Norman
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