Yes Steve, there is more room to be a more complete wuss. I'll humbly learn from anybody I can, especially someone with 28 years experience. In fact, if I thought you had something of great value besides an endearing personality, I'd consider your garage cleaning offer. Although, I'm not sure that if we meet in person you would be calling me a wuss. Kind Regards, Dave
The prices for some parts of the offering are listed. So far I have not seen any mention of the remaining components that are usually offered by such vendors and have been mentioned (examples of stuff that others usually provide) by others in this thread. Maybe, today, in part II these kinds of details will appear. I was unable to find the reference to the organization(s) that determined that this is the #1 thing. If you have located the citation(s) I would appreciate a link. TIA.
A few points: 1. Wyckoff said, "in order to master the markets, you must be their servant." We all sit at the feet of the markets, and they arbitrate what works and what does not work, what is real and what is not real. Davo. I'm glad your interested in my trading ideas and you're welcome to come along for the ride but I cringe at anything that smacks of guru status. That's goes against eveyrthing I know about the right state of mind. That is about getting the ego fed and that's not what I'm about. In fact, I think that puts one âwith formâ -- meaning that your thinking process start to get sticky -- attached to your own opinions which really undermines the objectivity that youâre trying to constantly sustain in order to read the tape and make decisons with a clear mind. Along that same line, I'm not about to spend my hours engaged in fruitless rebuttals here. I send my trading ideas out nightly, I post the live action in a Yahoo conference and I update the results periodically. I do this in out-of-sample data and you can hunt with me, or not. These trades will accumulate in out-of-sample data and anyone following what my analysis and trades can simply validate the integrity of the ideas on their own. 2. I do not believe in mechanical trading systems, or at least I am not willing to trade with the drawdown required to execute that kind of approach. I use a raft of proprietary stuff to select a group of ideas then apply subjectivity, my own gestalt about what's going on in the markets. In this thread I'm going to provide detail about the ideas that I think works. I'm not going to divulge specific indicators in detail because thats counter-productive and they provide a hard-won edge. I try to write frankly about what's going on inside my head so I think you might enjoy that and you will learn a lot along the way. 3. I have a EXTREME amount of confidence in what I do. That can come across as arrogance. Arrogance also undermines objectivity, but being confident is a necessary part of trading for me, as I oiften hold core positions thru volatility. 4. I am not exposing my ideas to this hail of bullets for humanitarian reasons, although I enjoy sharing my experiences. A hedge fund manager is a trade who is using OPM (other peoples money) to leverage his abilities. In essence he has a call on other people's money. He takes his knowledge about trading and leverages what he knows by borrowing other people's money in exchange for a % of the upside. It functions like a call because he gets upside exposure with no downside. If he has some great years he pulls his 20% incentive off the top. If he draws down and his investors leave he does not share in the losses -- thats why it's a call. It's a very savvy thing to do, only he has to deal with an organization and clients badgering him about why he's flat when the market just popped 2% I'm not a hedge fund manager, but I am interested in leveraging what I know and my abilities. I am not interested in operating a hedge fund and paying a lawyer $20K for that privelege then supporting that kind of organization. I offer to exchange where I see trades developing, where to take profits and how to manage risk with anyone who wants to come along for small fee. Anyone who follows my analysis, will see vast improvements in their trading. If this particular form of leverage seems unreasonable, or has less credibility than the hedge fund manager who has a call on OPM, then so be it.
Noise Trader, Thanks for sharing your ideas. If I could give you a constructive criticism it would be that the stye of writing you use on the Manifesto and excerpts from the TD course is sometimes abstract. I hope I am communicating my point correctly. This isn't intended to be a slam by any means. It reminds me of some of Grob's posts, no offense intended Grob. I look forward to getting your insights daily in my e-mail. I am considering taking the TD course, it looks as thought it could be of use. Dan
I can get pretty spaced out -- just ask my wife I think my brain has been permanently damaged from so many counter-intuitive trading experiences and the overall level of perversity prevalent in markets. I'm trying to rein in that tendency to be so abstract and speak more plainly -- Thanks for the contructive criticism.
I'm going to post Part 2 as a new thread titled: "What Works in Trading & Why: Part 2" The Nature of the Beast
Baron and Others I must say I view this as a VERY CONSTRUCTIVE beginning to the improvement of this site. Also, I, and I suspect many others, would be a much more frequent viewer and contributer to the forums (threads) if they were not so frequently HIGH JACKED (often by the same individual(s)) and taken on the course of a high school foodfight. Parlamentary Proceedure (Rules) does not in and of itself restrict (censor) open debate, it provides an environment (forum) in which it can flurish. RULES can translate into more or better informed information flow(intelligent, informed participants) and a much improved site. Many of the threads have recently deteriated into a waste of my time to follow. Baron, I would hope you would take this opportunity to put everyone on notice that you will no longer tolerate the type of juvenile behavior and flaming that has been taking control of many of the threads. Thank You Nutsneal