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Dear Steve:
I know that you are tired, but when you have a chance, elaborate, please,
on your trading style, that the snivelling (had to look into dictionary for
the meaning of that word) and mental traders could follow (or at least try
to follow) your footsteps.
>I'm always in the market long or short.
>I average losers up or down. And I don't use any stops.
Just explain me arithmetic of the averaging down during 1987 crash and
during 1990 and 1994 bear markets. Or was you long all the way up and turn
short all the way down? (Because you are always in the market). If that is
the case I will know that Livermors are alive nowadays.
Snivelling Alex.
At 08:19 PM 8/17/99 -0700, Steve Karnish wrote:
>List,
>
>Don't have a lot of time to debate style and whether Arch Crawford is right
>or wrong. I do know that some of the largest contributors to the forum, in
>shear verbiage, don't even trade the markets they comment on. Wow!
>
>Anyway, as a CTA, I've closed out 14 S&P positions (a couple zillion
>contracts) since the beginning of the year, extracting over 525 points (13
>winners, 1 loser). Tomorrow on the opening, I'm going short, closing out
>the three contracts I've been long. This will push the track record to
>15-2.
>
>I use a momentum oscillator and some fibonacci derived high and low
>projections to trigger my trades. I'm always in the market long or short.
>I average losers up or down. And I don't use any stops.
>
>So some of you sniveling non-traders (you know who you are) can chew on
>this and work yourself into a snit about how I break all the rules. I been
>breaking them since 1975 and it's been real rewarding.
>
>I not suggesting that anyone follow in my footsteps. There are a lot of
>ways to make a living in these markets. I guess I'm just a little tired of
>reading the "mental traders" pontificate about markets that they wouldn't
>recognize if they stumbled in the pit and criticizing approaches that they
>don't understand. The "realtraders" on this forum seem to be the
>individuals that are tolerant of the wide variety of styles that appreciate
>equity.
>
>Steve Karnish
>Cedar Creek Trading
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