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Bob,
I think your comments were ill advised.
You came late into this list and filled a void as a moderator
but in that position you should have "moderated" and not
tried to be the "godfather".
There are many of us who provide a service that is more
educational than it is monetarily rewarding.
Keep your less than well informed ideas to yourself and
let this list operate openly and without a hammer hand
expressing something that is probably not in the best
interest of the members -- particularly the "newbie" members.
I'm not sure that anyone is a "newbie" but I do know that
we have many who can well accept guidance from those of
us who have been around a long time.
If one of these "newbie's" purchases some type of a "system"
that provides them with information that leads to them finding
a method that fits their style of trading then SO BE IT AND
GOOD FOR THEM -- AND THE VENDOR.
Clyde Lee
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- Clyde
Lee
phone: 713.783.9540 SYTECH Corporation 7910 Westglen, Suite
105 Houston, TX 77063 fax:
713.783.1092 WebSite: www.theswingmachine.com- - - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
----- Original Message -----
Sent: Tuesday, March 27, 2007 08:50
PM
Subject: Re: [RT] For newbies
You fall into the possible category. You are the reason
we can never say never. You are an honorable man who I would trust above
nearly all others. You are the exception and there are always
exceptions. But, my statements remain valid in spite of you.
:))
Bob
At 03:08 PM 3/27/2007 -0700, you wrote:
I fall
into the reasonable category. I retired off of the options floor in
1985. Traded up stairs and then at home. Trading is like a
narcotic for me and very difficult to stop. I had a heart attach and
the doctor said no more trading. Several months later someone I knew
contacted me. He couldn't make a living and asked me to teach him to
trade. I was reluctant to give out the system, but I said yes.
To this day that party can't trade but he does write a successful news
letter and does some teaching. I found that I liked teaching and have
continued. The majority of people that come here do so based upon a
referral from someone else who has been here. Are all the students
that leave here successful? No. In any field of endeavor, is
everyone who tries it successful and the answer to that is still
no. The statistics seem to indicate that 90% of new ventures
fail. My success rate has been just the reverse of that.
So there are some of us who do teach for reasons other than those given in
your post. I still follow the markets, I still teach a little
and I post a blog on a daily basis. There is some vacation time in
there also.
Ira
www.thetradersguide.net
From: BobsKC
- To: realtraders@xxxxxxxxxxxxxxx
- Sent: Tuesday, March 27, 2007 1:48 PM
- Subject: Re: [RT] For newbies
- It's possible there could be a legitimate reason but it is also
possible that someone could throw darts at a stock list and make a huge
amount of money. ie: *Anything* is *possible* but the question
is, how likely is it? We must all make decisions based on the
probability of things and not on the possibility of things. As an
advocate of methodologies, you surely would agree with this
statement.
- Bob
- At 12:48 PM 3/27/2007 -0700, you wrote:
- Bob,
- Generally I agree with the content of your
post, especially concerning those methods that are actively sold through
mass advertising or direct mail. However, there may be legitimate
reasons for making a new technology available to others. Have you ever
heard of The Prediction Company? After developing a superior trading
methodology based on nonlinear dynamic modeling, this group of
scientists sold it to a major bank. This group had divergent interest
and wished to pursue other activities. (Read "The Predictors" by Thomas
Bass.) Was this a legitimate reason to sell?
- Let's take another example. Active traders
know that it is a time consuming and often stressful occupation. Suppose
an individual developed an outstanding methodology and traded it
successfully for a number of years before being advised, for health
reasons, to reduce his activity. Would the desire to extract a stream of
income from the methodology without the day-to- day trading activity be
a legitimate reason to sell it to others?
- And there is the issue of scale. Suppose the
same individual above traded a six figure portfolio successfully for a
number of years using a break-through technology. Then he was offered an
opportunity to apply it to a hundred million dollar fund. Would it be a
legitimate reason to sell?
- So, perhaps you can agree that there may be
legitimate reasons for making new technology available to others. As
always a buyer should exercise due diligence but it is the value of the
product which should be questioned - not the motivation of the
seller.
- Best Regards,
- Jim
- ----- Original Message -----
- From: BobsKC
- To: realtraders@xxxxxxxxxxxxxxx
- Sent: Tuesday, March 27, 2007 11:18 AM
- Subject: [RT] For newbies
- Some time ago, I changed the rules on our list to allow advertising
as long
- as it didn't get out of hand and there was no pumping. I am pleased
to say
- that it has not gotten out of hand and has been minimal and
- professional. Still, it is only a matter of common sense to think
about
- trading systems and stock picking systems. If the person promoting
their
- product really had a holy grail of trading, why would they need to
sell it
- to you? Put another way, if you have the combination to the safe,
why sell
- it to someone else? Just go in there and get all the gold you want,
when
- you want. Selling the combination only puts people in your line of
access
- and redefines how much gold there is to split since nothing is in
endless
- supply.
- Having said that, I do not doubt the validity of those who are
trying to
- sell trading systems. I only doubt the need to do it if their
systems work
- so well. You should ask yourself these same questions before you
begin
- writing checks.
- Hope everyone has a great trading week.
- Bob
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