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Norman:
I have Tom DeMark's book with all of his trading indicators and found it a
complete and total waste of money. I wonder if that guy has ever taken a
trade in his life. The guy has probably spent 25 years looking at charts
over and over again to find the perfect entry, but who cares about the
perfect entry. Yesterday, Tom DeMark probably could have found some insane
little indicator to short the futures based on one of his trademarked
set-ups(don't even get me started on his trademarking, what a crock!).
The point is that most of these guys know that the average trader is looking
for; the holy grail. The holy grail for the average trader is the perfect
entry along with buying the lowest tick and selling the highest tick. Heck,
all of us could come up with a series of curvefitted data to do that. The
problem with this idealogy is that it most often has nothing to do with
trade management or position sizing, which are 10 times as important as all
of those trademarked indicators. I think all of us know where Tom DeMark
makes his money...
Peter Beckwith
-----Original Message-----
From: nwinski <nwinski@xxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, April 05, 1999 10:41 PM
Subject: Re:
>
>
>Tie, Jeffery wrote:
>
>> GROUP
>> I have recently started to use Tom Demark's Sequential, and Combo
>> countdown to determine turning points. Do any of u use this system?
>> Would appreciate any comments.
>> Jeff
>
> Jeff,
> I learned Sequential from Larry Williams at one of his seminars in
>1979. It was interesting and seemed to have some merit. Larry promised
>that he would have more improvements for us over the next year and
>beyond, but I never got them. He did have some interesting stories to
>spice up his presentation which I was naive enough at the time to
>believe. My bubble was burst when, about seven years later, he and I
>were at the same cocktail party and I over heard him laughing about the
>stories he made up to tell his audiences. One of them was the Valise,
>which was named after the fact that it was supposedly found in the
>valise of a wealthy old lady. When he talked about how he made this
>story up, and how gullible people were, he nearly fell down laughing. I
>happened to distinctly remember him telling this story of this important
>indicator at the 1979 Sequential seminar, for which I paid $3,500 (no,
>I am not really that stupid, I got some friends to share the cost).
>Anyway, at the time of the seminar, I took every word he said as being
>sincere , despite his fast talking used car salesman style. Live and
>learn!
> So, I will be curious and interested to hear any results you can
>derive from Sequential.
>
>Good Luck,
>
>Norman
>
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