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I have read this post and find that there is much to be said in its favor.
There is no system that will withstand scrutiny. There is no
set of numbers, correct calls, or bottom line exposures that will prove
you right. The problem is not with the system, it is with the party
executing the system. You believe in Delta. I don't believe
that you use it trade by, or to enter or exit trades by. It is my
belief that you use it as a guide for what ever system you are using.
It is beneficial to expect a turn at 15 bars, the full moon or when the
dog next door starts to bark. If that triggers your attention, that
is good. Price movement is the only thing that you can make or lose
money on. So in the end what ever system you use it is price that
should trigger your entry and exit. My opinion. Some look for a bottom
and start buying a little bit every step down or the opposite at a top.
That doesn't work for me as one of my rules has always been, never take
a losing trade home. Never be in a position where I have to defend a trade.
It might work for someone else, but not for me. If someone believes
that the action of the planets can influence the market, he/she will find
justification in it. I am sure that Norman uses something other then
pure astro to enter and exit his trades. He may say that certain
action of the planets will impact Beans, wheat or hogs, but I am betting
that there is something else that will trigger his entry or exit from the
trade. I will take his prognostication and use it to my advantage.
I do that by looking at the time frame he noted and using my system seeing
if there is any validity to his post. Either way he has provided a service
to me and the list. He has brought to our attention something that
we might not be following. It has brought another trading opportunity
to my attention. I don't have to believe in astro to take the trade,
but I can use the input to take my attention to something that I haven't
been paying any attention to. I could have a system using options
and say that it is 100% profitable. The proof would be the sheets.
After looking at the sheets the party would say that it wasn't 100% correct
because half of the options went out worthless or lost money. His
lack of knowledge would cry out when he called the claim false. I
could have put on bull and bear spreads, made money on every trade, and
yes, half of the options would have been losers. The key is
that the strategy called for half of the options to be losers. The
object is to make money, not to boost egos. There are too many who
are out there ready to ridicule an idea rather then to take it, examine
it, see if it will work for them, and then either incorporate it with his
system or discard it as not useful to him. Asking for an explanation
is fine, bad mouthing is just a tool of those with closed minds.
Saying that the system won't work for you and give the reasons, based upon
an examination, is fine. Calling the party who put it forth a fraud
or charlatan is wrong, I believe. You expose someone with facts,
not accusations. I have been involved in the markets since 1955,
and to this day, I am still learning, not only about the markets, but about
myself. The markets have treated me very well and I hope that they
will do the same for all of you. Have a good week end. Ira.
delta88343@xxxxxxx wrote:
It would be unfortunate
in my opinion if many of the experienced traders on
this list were to leave.
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