I have this new theory about trading, specifically the books that exist about it. (I'm sure I didn't think of this first, but it'd be interesting to talk about here). I'm talking PURELY about books aimed at beginners here. There are some great books out there - Schwager's books, umm...i'm at a loss for any other great books right now, but there are definitely some good ones worth reading. (Maybe Tony Oz, too - I've never read him, but I hear his stuff is pretty good). But what about all the crap?? Nassar, Velez, Capra, Farrell - just pure crap. How could these authors be SO STUPID to believe the stuff that they write can actually make money??? (Ironically, the first book I ever read was by Toni Turner, who was a Pristine student who apparently turned out OK, as I still re-read her book to this day). Since the markets have gotten SO much harder lately, I've been thinking alot about why, and it probably has ALOT to do with the lack of fresh meat entering the markets. So my theory is this - NOBODY is as stupid as you would think these guys are by reading their books. It's all just part of a big conspiracy to bring enough fresh meat to the market so that professional traders can squeeze more money out of them...hehe
I often wonder if the PDT rule got rid of a lot of the dumb money the real traders enjoyed taking. peace axeman
Bungrider, I don't know what specifics you have in mind here, but I'm familiar with Velez and Capra and I consider them good traders and excellent teachers. I also know some things about the other two people, and none of that is negative either. Pristine's was one of the first seminars I took, and to this day, I use what I learned there, quite successfully. I'm a happy customer, and my brokerage statement is happy too. And I know others who have an equally good opinion of them. But, of course, different people may perceive things differently. I just wanted to say that your opinion on this is not universal.
everything on others or on the market? It's getting a little bit old, I would say... And it's not a very good substitute for a good strategy. Not all things work all the time, so perhaps what worked before as described in the books you mentioned does not work any more. Have you thought about that? Why do you want to believe that there is any conspiracy here? But then again, conspiracy theories solve everything.
cool. i'm glad it has helped you. i read the "tools and tactics..." book that they wrote, and thought it was pretty crappy. no, i never took one of their seminars, nor did i pay $10k for a week to ride shotgun with one of them, but to me, it always seemed that those guys were selling pristine first, and trading second. again, i'm glad it worked for you, but i've heard alot of other stuff (and read alot of stuff) that suggested the opposite.
whatever you say, wally. i'm not blaming anything on anyone. i just thought this would be an interesting thread topic...i didn't expect to get stern replies accusing me of being a conspiracy theorist.... do you work for any of those firms, wally?? now it's my turn to accuse you of such things...
i'm weary of these conspiracy/blamegame thread topics too. everyone and everything is FOS except what *I* do ...did i get this right bung?
i dunno. i'm not sure what you're asking...?? i wanted this to be more of a fun thread where we all dump on the guys who write books...that's all...
I agree, Yannis. I haven't taken any of their seminars, but I've found the "lessons" available on their site to be invaluable. Not only are they models of clarity, but they focus on what is true rather than on what one wishes were true. Apparently, if something is simple, it has no value. --Db