I will here treat, with the greatest intellectual rigor tolerable and comprehensible to ET, Extraordinary Popular Delusions & the Madness of ET. As ET has an inexplicable habit of effacing erasing but not embracing critical thought, I shall not invest much effort in the task until it is clear that I will not be deleted. ET, it seems, has much difficulty distinguishing the mock serious from the seriously mock. But to begin. Should we attempt to identify the greatest delusion on ET, can we all agree that it is the belief that one will be graced, merely for the begging, with a positive expectation trading system so simple that any undisciplined inexperienced inept fool can trade it? Why do those thus afflicted so sincerely believe that it is Christmas all year 'round on ET? My belief is that every such mendicant fancies himself the babe in the manger entitled to the adoration of all who read his hasty mewling ill-spelt posts. In short, they are entitled little snots. IF ever they get rich, they will be the sort who lease gaudy Mercedes and buy fake handicapped parking permits. Fortunately we have the newly resurrected (it is approaching that season) Jack Hershey to guide them to the land of milk and honey. But there be greater fools here: those who vainly counsel that no published system can possibly work, and that all working systems were developed at such high cost in ego and geld to their owners that they are more priceless than firstborn children, and are therefore privately held. If on the non I find this thread intact, I shall continue.
My dear Dr. Deco, may one be permitted a gloss? Surely that feeling of entitlement to unearned milk and money proceeds from the extraordinary popular delusion that what is obvious on the static chart at the end of the day will be equally obvious in the unfolding of the chart in real time? That is why our esteemed colleague Alex Elder coined the phrase "hard right edge", and why that genius of trading education Alan Farley appropriated the term for his website.
Dear Emil and Arthur, This thread has the making of an ET classic. Could I pose a question. I have the latest Elder book: in the conclusion he explains why he writes and holds his 'traders camps', where for a pittance of a few $$$$$$ one can learn about the Elder force indicator and such other marvels. "There is more to life than money." he writes. "This is what the tight-fisted and narrow minded folk cannot understand... Why would anyone who know how to trade talk about it[the narrow minded, tight-fisted, ask]..." Apparently there are traders who doubt Mr. Elder has that much to sell. I am sure you gentleman can assuage any doubts.
May we not then simplify, citizens, and say that, simply put, to the simple, trading is simple, and that one need simply ask ET for a simple system?
Kind Moderator, though I have not met Dr. Elder, my belief from careful study of his site and consideration of his camps is the following. He is a physician, and all physicians love boondoggles. He and his followers go to trading camp in locales like Costa Rica to play golf, booze it up and chase dusky skirt. Elder's first book was the first I read on trading, and inspired by it I developed a profitable variation on his triple screen method. So I have a healthy respect for him, to no mean extent because he is the patron saint of trading drunks, having devoted fully a third of that first book to us. So I do believe in him. What could be simpler than triple screen? Yet he did give it away for a pittance. Knowing full well that other popular delusions would keep all but the saintliest of traders from exploiting it effectively. But we digress from the theme of why ET believes in Santa Claus.
Having mastered Maya in my day, and now benefitting from it in obscure retirement, I can tell you that the greatest delusion is that the market is an eleemosynary society. The equivalent of welfare for the lazy middle classes yearning for easy riches. And you know who here is the greatest proponent of that myth. Being empty of desire allows one to perceive how limit order participants play market order traders like Stern played the Strad. Hopes raised, hopes dashed. One need merely imagine at any given time how one would react were one in the market at that time. The cause of all suffering is desire. The cause of the cessation of suffering is the cessation of desire. Perhaps one day I shall reveal to ET the noble eightfold path of trading. As soon as I get my website up and my Master Card merchant authorization.
Dear Prof Deco (DSc), Perhaps, in order to continue and proceed further, you/ we need to realise that ET (aka Vendorland) currently is the Wonderland being fairly much occupied by vendors and potential vendors who have been trying to help consistently profitable traders for one important issue - attracting more new bloods in the trading field. A simple and highly profitable system being freely offered to the public would be the common objective of most (almost all) members including newbies like me that would like to hear about it. Why not you?
Well that about covered it...' Good 2007 to you... Life is like a box of ......you never know what you are going to get...except the fears of ET's offerings.. Madness of ET
Perhaps we should understand well that more screens would greatly increase the probability of generating least number of winning signals - from one of the screens.