trading guru

Free Thinker · Feb 26, 2004

now this is good. if bounce fails we can go lower. if it continues we can go higher. lol

Jeff Cooper
Follow the Bounce for a Tell on Market Direction
If it's a short bounce, we may see distribution. If if continues, the S&P can head to a new high.

dbphoenix · Feb 26, 2004

I don't follow these people, but I'm going to assume that this isn't the extent of what he said. To be generous, I'm going to assume that he meant that since the index bounced here rather than drop all the way back to its base, as the Naz did, it demonstrated unexpected strength. Whether that strength can propel it to a new high or not remains to be seen, but the fact of its bouncing here is worthy of note.

OddTrader · Jun 12, 2005

http://www.elitetrader.com/vb/showthread.php?s=&threadid=26130&perpage=6&pagenumber=9

Quote from agrau:

People use the word "guru" because "charlatan" is too long. -- Peter Drucker
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Equalizer · Jun 12, 2005

LOL, Nice quote OddTrader. That one is a "keeper".

BTW, you amaze me, you must be a walking talking human Google search engine!

OddTrader · Jun 12, 2005

http://www.elitetrader.com/vb/showthread.php?s=&postid=402071

Quote from 50 cent:

Imho the whole idea here is useless.

A charlatan, although a charlatan, can still sell you pure gold.

Someone who's for real, can still sell you poison, because he's not much of a teacher.

Eventually you will be using systems that make sense to you and that you have seen to work consistently with your own eyes, in real time (not by looking at past performance). Who introduced them to you in the first place will become irrelevant to you. It is also very likely that you will modify the system to fit your style, most of the times to an extent that it will actually become your own proprietary system anyway.

Needless to say that all those who blindly follow gurus will go bust sooner than later, no matter who the guru is and what's his proven track record.

Cheers
50
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ElectricSavant · Jun 12, 2005

Oddtrader keeps track of all these quotes, by writing them down on his toilet paper roll...

Bad info in...bad info out...

OddTrader · Jun 12, 2005

http://www.elitetrader.com/vb/showthread.php?s=&threadid=46491&perpage=6&pagenumber=11

Quote from Stratcat:

This is quite interesting.

I for one have not studied random theory or anything similar, but I do get pretty sick of reading posts from people who come on here and say something that can't be understood or explained but is correct and makes them very clever indeed.

This is a common disease, and we've often seen posters like Grob, Cheese, Wavetrader2004, and Scientist villified for their self proclaimed brilliance, which is just too "clever" to actually be put into understandable English sentences or supported with any evidence.

Now I'm no genius but I could convey anything that I understand, to anybody I share a language with. Strange how non of the "gurus" are capable of this, particularly as I have read and understood the writings of Wittgenstein, Einstein, Marx, etc. Maybe these guys just weren't clever enough to be incomprehensible to me though.

Interestingly these "guru" posters that come to this site relate to our current topic of recognisable patterns within the randomness. For instance, the rubbish the guru is about to preach us, is random. The topic and contents are unpredictable. However, within the horseshit there will be observable, repeated patterns, that continue to be identifiable. The most prevailant of these patterns are;

1. The "guru" will brag about how clever he/she is.
2. The "guru" will claim of immense knowledge in a variety of fields.
3. The "guru" will patronise and disparage anyone in disagreement with him (this usually includes an insult such as "idiot" or "moron")
4. The "guru" will be unwilling to directly answer a question or to lucidly expand on a point he has previously made.
5. The "guru" will make excuses as to why he is visiting the site (as usually somebody as clever and successful as he wouldn't stoop this low
6. The "guru" once his pathetic ego is satiated by holding the interest of strangers, and having widely been exposed as a charlatan, will withdraw and proclaim this as a great loss to this site's community. Unfortunately it is inevitable however, as people here are too stupid to be worthy of the guru's incredible knowledge.

Now I am not trying to have a go at Proflogic here, this is not an attack on him. However, what I have listed above is the single biggest problem with this site, and at times his posts on this thread have resembled what I'm describing here, and prevented this debate from progressing.

I for one would appreciate it if the posters here who constantly dispense their wisdom and advice, would do so as clearly as possible. This is an excellent idea for a website and could be a helpful and stimulating forum, but too often it degenerates into flaming, bragging, and confusion which is a product of the anonimity of the posters involved. As a community we need to try to raise the standards otherwise there really is no point coming here.

For those of you who don't what I'm talking about, read this thread as an example of how pathetically people here can actually behave. http://www.elitetrader.com/vb/showthread.php?s=&threadid=41103&perpage=6&pagenumber=1
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AAAintheBeltway · Jun 12, 2005

Quote from vhehn:

now this is good. if bounce fails we can go lower. if it continues we can go higher. lol

Jeff Cooper
Follow the Bounce for a Tell on Market Direction
If it's a short bounce, we may see distribution. If if continues, the S&P can head to a new high.
More...

C'mon, give the guy a break. He has to produce a column and sometimes there's not a heck of a lot new to say. Honestly, he's the only reason I subscribe to RM. I've found him useful over the years, if only to clarify my own thinking.

Lefty62151 · Jun 12, 2005

Hello Folks:

I read the last post and wanted to offer a comment. I happen to know Jeff Cooper. I like him. He's a good professional who knows how to trade, but he is not (in my humble opinion) a great writer. Those of you with a few years on your frame will understand when I say that this is common amongst people who can perform well but are less skilled at exposition (telling others how they "do it").

Regarding the characteristics of "gurus", first I thank you for leaving me out. I'm nobody's guru. Also I have to say that on the weekend, there seems to be an "outbreak" of idiocy, plain and simple. People who know me will tell you I am easy going, a person with patience, and yet I find myself using those words because of the stunning and enduring stupidity that people post on Saturday and Sunday. I hope to become a more evolved person in the future. I am working on it.

In summary, I discourage people from "adopting" gurus. Instead I suggest people take a professional viewpoint. Learn how to properly interview and qualify service vendors so that you can obtain competent help getting to your goals. Use common sense and basic intelligence. Those of you who can't find those qualities within yourselves, well I am sorry, but you are screwed.

Thanks and good luck to all of you
Lefty

OddTrader · Jun 13, 2005

http://www.elitetrader.com/vb/showthread.php?s=&threadid=2075&perpage=6&pagenumber=6

Quote from andrasnm:

I like to butt into this just for a sec. I have read about dr.tharps
and his coachings. I have no problem if he trades or not. Just
that phychology per se does not work too well. It's a feel good
thing and many (obviously) who can afford it use it and there is
a market for you. I don't know about his techniques or methods
etc. They may be great for all I know. I just think all phychology,
Fruedian, Jung, Dr Ruth is all BS. It don't work !!! Look at all
the crazy, deranged people all over the US !!!!! If phsychology
worked 10% they say it does we would have 1/4 of loonies
out there !!!!! (off my soapbox) and by the way I studied
psychology and visited a few myself (hey I am in California)

NLP on the other hand is a set of keys and methods you can
use to overcome fear, anxiety, losing and bad trading.

That's why shirinks hated Tony Robbins and called him a
charlatan. He as a bit hyped up as "cure for all" also should be
taken lightly and with a "grain of salt", but it works better
than any textbook shink mumbo jumbo !!!!!
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