|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type>
<META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT color=#000000 size=2>Hi folks,</FONT></DIV>
<DIV><FONT size=2>I got the cbot exchange added to my bmi service but I don't
have enough data on the present contract.</FONT></DIV>
<DIV><FONT size=2>Anyone want to go into thier server on tradestation and export
the data for the us9m month? </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>It will export in the OZM format. </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>thanks </FONT></DIV>
<DIV><FONT size=2>Andrew S.</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Mar 16 05:16:36 1999
Received: from list.listserver.com (198.68.191.15)
by mail05.rapidsite.net (RS ver 1.0.2) with SMTP id 24891
for <neal@xxxxxxxxxxxxx>; Tue, 16 Mar 1999 07:05:58 -0500 (EST)
Received: from localhost (localhost [127.0.0.1])
by accessone.com (8.8.5/8.8.5/PIH) with SMTP id EAA09159;
Tue, 16 Mar 1999 04:01:20 -0800 (PST)
Received: from secure.smtp.email.msn.com (cpimssmtpu07.email.msn.com [207.46.181.28])
by accessone.com (8.8.5/8.8.5/PIH) with ESMTP id DAA08985
for <realtraders@xxxxxxxxxxxxxx>; Tue, 16 Mar 1999 03:59:32 -0800 (PST)
Received: from bbbb - 193.149.80.126 by email.msn.com with Microsoft SMTPSVC;
Tue, 16 Mar 1999 03:58:57 -0800
Message-Id: <018701be6fa4$5d43d9c0$ca6045c2@xxxx>
Date: Tue, 16 Mar 1999 11:58:04 -0000
Reply-To: t-bondtrader@xxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: "T-Bondtrader" <t-bondtrader@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Now you'll have to pay for it!
X-To: "RealTraders Discussion" <realtraders@xxxxxxxxxxxxxx>
X-Priority: 3
X-MSMail-Priority: Normal
X-Mailer: Microsoft Outlook Express 4.72.2106.4
X-MimeOLE: Produced By Microsoft MimeOLE V4.72.2106.4
X-Listprocessor-Version: 8.1 -- ListProcessor(tm) by CREN
X-Loop-Detect: 1
X-UIDL: 9c3dc41031401774c148c03474380aa4.0f
I am told by list members who are also users of my manual that Bob Hunt's
daily bond forecast on RT is now to become a paid for Fax Line, like so
many others. Presumably, it will not be available free on this list any
more (or the subscribers would object, of course).
It all seemed to start after Bob had reviewed my manual, here, on 16th
February. And if that is what he want's to do fine, but since virtually
all his indicators are taken from "Street Smarts", if he is going to charge
for it, why not buy the book and have done. It also seems that there are
increasing references to my interpretation of support and resistance
concepts, so again you might just as well have done and buy the manual.
(Actually Bob wrote to me yesterday and said that he would like to buy job
lots of the manual at a vast discount and sell them at a profit - but at a
lower price - to people whom he had recommended to buy the manual.
People who have bought from me wouldn't feel very pleased about that, so it
won't happen.)
Fax line, hot lines and all the other predictive services are the
equivalent of buying a load of fish. Cod or plaice, good or bad. You are
simply buying someone else's opinion. You are wittingly or unwittingly
going to be relying on what another person thinks - in this case, just
before the market opens, so that it will colour your thinking.
What books like "Street Smarts" or manuals like "A Hard Way to Make an Easy
Living" do is to help you to learn to fish for yourself. In the case of
the former, it contains trading concepts which can be applied to many
markets and in the case of the latter, it is specifically tailored to one
market, the T-Bonds - but incorporating free daily access to a website, for
free on-going tuition.
But just how good can a fax service be? Take the very latest of what
people will be paying for in the future. Yesterday on RT, when in fact
the market went long and broke out of its wedge to the north, this is what
Bob Hunt said:
Today is a 2 Day ROC SELL day - Look for intraday signals to go short
Today is an NR4 & 2 Day ROC SELL Day. DEFINITELY TRY TO GET SHORT!
a combination of System Signals and Cycle Indicators that are painting a
very bearish picture
Needless to say, I'm going to enter the day with a bearish bias.
the Double Stoch and 7 period %K indicators. Both have become very
extended in their own overbought zones.
The 2 Day ROC Sell is telling us that today falls into the "sell day"
part of the swing trading pattern.
Whatever else, that would be enough for most people to go into battle
thinking it was going to be a down day. They would be looking to sell.
They would be conditioned in their thinking, their approach and in their
expectation. Perhaps the worst thing about putting forward opinions is
that when you are wrong, all the rest of what you have to say is also
questioned. It is certainly no way to learn, but it may be a good way to
make money - well on days when you are right!
Most people on this list know my views on indicators. Fine, perhaps, for
position players, but utterless useless for day traders. If you learn to
read the tape, you don't need them. At best they are irrelevant, at worst
totally misleading and even actually wrong - as in the example above.
Selling a service based on them, for day trading, just has to be bad news.
Many of the 'newbies' will not appreciate this and get sucked into it,
because it sounds good, but they will never learn. Worse still, they will
end up paying more money for the service than buying the means to learn to
do it for themselves. Forget the copyright for the moment (although my
lawyers won't for a minute!), it will irk me a lot if the service
incorporates what I do and have written about. Worse still, it will look
as if you can mix and match the two, and you can't. Please, any newbies
out there, believe me: you either go by indicators and systems or you
learn to read the tape.
Anyway, ethics apart, it's simply not be good for your health to buy
second hand fish and it really is rather daft to do so, when you can learn
to trawl for yourself, in half the time and at half the cost.
Bill Eykyn
www.dbceuro.com/bille.htm
|