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PureBytes Links
Trading Reference Links
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For Shelly's seminars contact the CME or Shelly directly at LIT securities in
Chicago for his schedule.
Tom Dorsey teaches for the PHLX...contact them.
CBOE seminars are on their website as I suspect the Philly's are.
Varouj Abrahamian wrote:
> Could you please do all of us a favor and tell us where we can find this
> "Give Away" educational material. I am sure it will benefit many of us that
> are still learning.
> Thank you
>
> ----------
> > From: THE DOCTOR <droex@xxxxxxxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Subject: Re: GEN: Worthless Pursuit
> > Date: Saturday, March 07, 1998 11:07 AM
> >
> > Trot,
> >
> > You clearly raise a number of points that all of have pondered,considered
> > and examined over many years and many trades.
> >
> > I know a good many folks who are successful at trading and many are
> > chronicled in Schwager's books(Market Wizards and New Market Wizzards)as
> > well as Alan Rubenfeld's "Supertraders". I've even seen certified
> results
> > of a good many very.very successful folks and only a very few have
> something
> > to sell. I've also seen the trading results of many of the most "well
> know"
> > and vocal Peddlers. Like you one quickly draws the conclusions you draw.
> >
> > Having said that the issue becomes what is really worth learning and what
> is
> > hype.
> >
> > THE BEST TRADERS IN THE WORLD aren't really good at making money. THEY
> ARE
> > - IN FACT- SUPERB at not LOSING IT. IMHO that is the key...I learned a
> long
> > time ago that without genuine certified results(I work for the CBOE
> which
> > gives me the unique opportunity to view actual trading performance)there
> is
> > more lying about trading results than there is about sex. Generally the
> > more visible the bigger the lie.
> > The really good people RARELY HAVE A PRODUCT TO SELL. Ironically some of
> > the best people have their stuff available for free....Sheldon
> Natenburg's
> > volatility seminar is a give a way....Tom Dorsey's point and figure work
> is
> > a give a way....Terry Haggery(an associate of mine at CBOE and probably
> one
> > of the finest option minds around)is a give a way.
> >
> > Having said that the key is quality education.......not trying to buy a
> > quick answer silver bullet system. Read the chapter in "NEW MARKET
> WIZARDS"
> > about Blair Hull.
> > Blair trades dozens of market everyday....with an incredible
> disipline...and
> > earns more than some fortune 500 companies.
> >
> > Don't give up...KEEP LEARNING.....avoid the "experts....gurus......fake
> > wizzards..and peddlers." Much of the good stuff is free and almost all
> the
> > crap is overpriced.
> >
> > Troy Kelley wrote:
> >
> > > I am about to start trading on a system I have worked hard on, but I am
> > > beginning to wonder whether this is a worthless pursuit.
> > >
> > > Reasons: Larry Williams doesn't trade, he sells his stuff. Neiderhoffer
> > > went bust. Tom DeMark doesn't trade. Schwager doesn't trade. Linda
> > > Rasche doesn't trade any more. Richard Dennis had a 60 percent drawdown
> > > last I heard. I am not sure if Gann really ever made any money. These
> > > are the biggest players in this world, and they don't make a living
> from
> > > purely trading. I am wondering if all these people just had a lucky
> > > streak and now all they can do is sell their "knowledge".
> > >
> > > When I started this, I assumed that if I could predict the direction of
> > > the market I would make money. But now I realize that prediction is
> easy
> > > compared to actually making money from the prediction. I think this is
> > > also what Larry, Linda, Tom ect..all these other people realize.
> > > Prediction is easy, making money from the prediction is hard. And once
> > > you start making money, making money for extendend periods of time is
> > > almost impossible.
> > >
> > > I think the real problem is not figuring out the randomness of the
> > > market, but dealing with all the competition of the market players. We
> > > are all taking money from each other. We are all smart people and we
> > > don't like loosing money. This makes for an incredibly competitive
> > > environment. It also means that no one, no one, will stay on top for
> > > very long.
> > >
> > > Just some thoughts. I welcome any replies.
> > >
> > > Troy
> >
> >
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