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Everyone seems to have an opinion one way or the
other on the various trading systems that are out there. There are things
in each of these systems which offer valuable insight into the markets
behavior. Some can and others can not be explained mathematically or
proven in an academically satisfactory manner. Does that make them
wrong? I don't think so. There are a lot of phenomena that can't be
explained in a rational manner or proven scientifically, that occur on
a regular basis. Things happen in the market and in life itself that
have no rational explanation, yet they happen. To use a system based upon
the reproduction rate of rabbits to trade the markets, preposterous, yet it
works for some. To say that because a group of planets is in a certain
configuration that certain things will happen in the markets,
preposterous. Yet it works for some. To say that markets are
patterned by time. Couldn't be. Yet people make money using time as
a factor. I don't use any of these systems, yet I used information
gathered from these systems to develop a system that works for me. The
fact is that if a person is a good trader he probably can make money using any
one of these systems or none of these systems and just a good money management
system can make the trader profitable. I couldn't make money
using astrology, yet I realize that there are those that do very well using that
system. If anything happens in a somewhat predictable fashion it can be
traded. I read, listen and try to learn. When I find something of
interest I will take a look at it. If it works for me I use it, if it
doesn't, I discard it. That doesn't mean that someone else can't use the
same thing which I discarded to make a profit. So to ridicule someone for
using one system or another isn't really justified. Have a good week
end. Ira.
----- Original Message -----
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Kent
Rollins
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, July 11, 2002 9:24
AM
Subject: Re: [RT] Re: forecasting-track
record
It is extremely biased. A bias is a choice.
Biases are not bad. It is narrow minded to an extent. I have
narrowed my mental focus to things that have a basis in reality rather than
things that have a basis in legend. I have made a choice. One
doesn't want to spread oneself too thin. It is ignorant to the extent
that once I figured out what was behind Gann/EW/Fibs/etc, I decided to ignore
them. But I did learn a little bit about them before I made the decision
that they are bad. It is NOT naive. I think it is naive to think
that some mystical process can reveal the hidden secrets of the
markets.
One day Welles Wilder will die and Delta Theory will take on
the legendary status of Gann and Elliot. There will be stories about how
he won millions. Did he die rich, did he die poor. Is it true he
could step into any trading pit, ask 2 questions and begin trading
profitably? Vendors get your Delta collections ready.
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