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To me, technique is irrelevant. Paul is able to make money with a random
system. This guy is sharp, very sharp. Now the technique, any technique is just
a road map, not a prediction of some sort. Getting hooked on the significance
of the map is like mixing up the real world and the virtual world. What counts
is staying on the real road. If the real road diverges from the virtual map, it
is time to change maps, and use the one which has the road written up as it is
now. So correlated or not, is meaningless, staying on the road (ie keeping
losses small) is determinant.
Actually, when you are lost somewhere driving, how do you get back? You may
ask, but the map you get from the person may be wrong, which you may find out
by noticing the real road is not getting you to your virtual maps location, so
you ask another person which has another map, and so on, until you get to the
real place with the real road with the help of the latest virtual map...
Got lost? no harm, me too...
Gwenn
| -----Ursprungliche Nachricht-----
| Von: JCDuffy@xxxxxxx [SMTP:JCDuffy@xxxxxxx]
| Gesendet am: Tuesday, August 31, 1999 6:09 PM
| An: ggautier@xxxxxxxxxxx; realtraders@xxxxxxxxxxxx
| Betreff: Re: AW: 1999=1987?
|
| In a message dated 99-08-31 03:56:26 EDT, ggautier@xxxxxxxxxxx writes:
|
| <<
| Pick any current move, go over your historical database, there is always
| going
| to be a period which had the same performance over the same time at about
| the
| same pace. SO WHAT???
|
| This is the pseudo's scientists fallacy...
|
| ==================================
|
| Paul Jones at Tudor probably has made more money off this phenomena than any
| other single technique. However like anything, there is some talent required
| in the application.
|
| >>From ???@??? Tue Aug 31 10:03:09 1999
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Message-ID: <001901bef3e1$95fc8ca0$9abc3fd1@xxxxxxxxxx>
From: "Terry S. Smith" <tesla@xxxxxxx>
To: <ggautier@xxxxxxxxxxx>, "'robin hall'" <rjeanhall@xxxxxxxxxxxxxxxx>,
"'List RT'" <realtraders@xxxxxxxxxxxx>,
"'List Serenity-Trading'" <serenity-trading@xxxxxxxxxxx>
References: <01BEF3CF.AEE5ACE0.ggautier@xxxxxxxxxxx>
Subject: Re: Street Smarts
Date: Tue, 31 Aug 1999 11:49:40 -0700
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I discover the flow of the market by counting how may point the S&P's
carried on the last rally or decline. If the rallies are more than the
declines I look to buy a 2-3 point retracement. If the declines are more
than the rallies I look to sell a 2-3 point rally. By counting the number of
points the market carries you can spot amazing market symmetry you would
never see if you just sit there and do nothing. Hope this helps, and Happy
trading.
----- Original Message -----
From: Gwenael Gautier <ggautier@xxxxxxxxxxx>
To: 'robin hall' <rjeanhall@xxxxxxxxxxxxxxxx>; 'List RT'
<realtraders@xxxxxxxxxxxx>; 'List Serenity-Trading'
<serenity-trading@xxxxxxxxxxx>
Sent: Tuesday, August 31, 1999 8:41 AM
Subject: AW: Street Smarts
> No indicators, just a state of mind, what is called the "zone" in sports.
You
> don't observe the prices, you become the prices, you are the trend that
goes
> up, that meets a bunch of sellers, you feel the buyers fueling you,
swelling in
> the back, you feel the pressure that is building, the urge to get the
sellers
> out of the way, you are the seed that wants to see the sun, you have the
urge
> to move up, you buy out the last sellers, there it goes, out in the free
air,
> no one out there to stop you, buyers keep pushing you, God are they many!
You
> literally explode on the upside, reporters come to enquire what is
happening,
> they want to know, you tell them look at me, sellers get out of the way
> fearful, you just dream this is so good.
>
> Alarms ringing in the head, bells everywhere, who was that? somebody
barred my
> path, Where are my buddies, hey where are you buyers? Gone, they are all
gone,
> they are partying. Friends I am going home, I sell right there to the last
> spectator. Back to earth now. Big seller bully is running after me, he
pushes
> me down, where are the buyers, I see fear in their eyes. They were so
eager two
> minutes ago, what happened? All of sudden everything stops. It's so eerie
out
> there, what's the matter?. Exit, I just exit here, go sleep, so tired.
>
> That is the flow, buying, selling, exiting. indicators are only a peeping
> device, a limited way to see the portion of reality you chose to see.
>
> Gwenn
>
> | -----Ursprungliche Nachricht-----
> | Von: robin hall [SMTP:rjeanhall@xxxxxxxxxxxxxxxx]
> | Gesendet am: Tuesday, August 31, 1999 3:10 PM
> | An: ggautier@xxxxxxxxxxx
> | Betreff: Re: Street Smarts
> |
> | HI GWENEAL
> | how can one sense the flow of the mkt?would the on balance volume
indicator
> | be able to give one a sense of the flow of the mkt or any other
indicator?
> |
> | thanks robin
> | -----Original Message-----
> | From: Gwenael Gautier <ggautier@xxxxxxxxxxx>
> | To: 'Tom Alexander' <gta3@xxxxxxxxxxxxx>; Realtraders
> | <realtraders@xxxxxxxxxxxx>
> | Date: Tuesday, August 31, 1999 9:06 AM
> | Subject: AW: Street Smarts
> |
> |
> | >In her book, there is an extensive description of the various entries.
> | Nice,
> | >although they didn't make much sense to me. By that, I mean 1 hour
later I
> | had
> | >to look up again to remember what it was all about. Nevertheless
between
> | the
> | >lines one can see it doesn't really matter how she enters, she seems to
> | have an
> | >excellent feeling for flow. Ie, if she senses the flow of the market,
> | she'll
> | >use her patterns, which she probably knows by heart to get in, and then
> | time
> | >stop or trail stop on lower time frame swing breaks or so.
> | >
> | >The systems sold with the book test poorly at best, but I believe she
> | doesn't
> | >use these techniques as systems but as triggers. The flow is
determinant
> | for
> | >the entry setup, the pattern for the trigger, the position management
> | >thereafter for generating the profits.
> | >
> | >Might be wrong, but don't think to be far off.
> | >
> | >FWIW
> | >
> | >Gwenn
> | >
> | >| -----Ursprungliche Nachricht-----
> | >| Von: Tom Alexander [SMTP:gta3@xxxxxxxxxxxxx]
> | >| Gesendet am: Tuesday, August 31, 1999 2:30 PM
> | >| An: ggautier@xxxxxxxxxxx; Realtraders
> | >| Betreff: Re: Street Smarts
> | >|
> | >| Hi Gwenn,
> | >|
> | >| What do you mean, "her edge is in the exits not in the entries"?
Either
> | >| their is an edge or there isn't, right? Perhaps a little timing
technique
> | >| applied to the setups might improve their performance. I do not have
the
> | >| book but I'm familiar with some of the setups. I'd like to hear more
from
> | >| you on your experience.
> | >|
> | >| Regards,
> | >|
> | >| Tom Alexander
> | >|
> | >|
> | >|
> | >| ----------
> | >| > From: GAUTIER <ggautier@xxxxxxxxxxx>
> | >| > To: 'Randy Burns (TCG, Inc.)' <rburns@xxxxxxxxxxx>; Realtraders
> | >| <realtraders@xxxxxxxxxxxx>
> | >| > Subject: AW: Street Smarts
> | >| > Date: Tuesday, August 31, 1999 4:42 AM
> | >| >
> | >| > Frankly, I'd save the money. None of them tested positive in TS
> | >| backtesting...
> | >| > Her edge is in the exits not in the entries.
> | >| >
> | >
>
|