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You wrote:
>Robert Miner is good, but you should be aware he has written similar
warnings many times in the last year or two. If I believed every
prediction of the potential for a bull market ending top, I would have
been out of the market a long time ago. Maybe he will be right this
time, but he has been far from perfect.
>Pete Greco
Dear RTers,
The above letter exemplifies the unrealistic expectations that people
have from market forecasters. One must realise that no one can be
"perfect" about the market.
I do not have much idea of Miner's calls but I have his Gann trading
course and also follow his writings in TASC as well as Traders World. I
think they are first rate. He makes a most lucid cast for his
projections. They are logically constructed and present a very organised
method for the reader. It is then left to the reader to take advantage
of what has been presented. We all know the difficulty associated with
that part, dont we ?
As regards calls on the markets, it is not unusual to be wrong. What is
more important is what the analyst does when the call has gone wrong.
Did he stick with his forecast in the face of contrary evidence from the
market or did he pick up the pieces, admit he went wrong and got back
into the groove of the trend ? This is the most important thing.
I am engaged as a market analyst in India for the past 15 years and have
suffered the same problem. It took me time to learn that the market is
much bigger than my forecasts. I am absolutely certain that Robert
Miner, whose work I hold in high esteem, would be no different.
Dr.Narayan.
Mumbai, India.
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