"...if you have an edge and give it away then you longer have that edge. If you write a book and excuse me if I’m mistaken but I thought that’s where you were going in your contribution to the TA community message – anyway if you do write then write about your process rather than giving us another speed indicator because any edge given away becomes lost in the efficient market theory or whatever causes it’s value to dissipate..."
Thanks for the long story.
My fundamental belief is that there but one model of market mechanics and that all methods that do not take this into account are doomed to fail. That said, the model is rigid only in its framework, the concept. This was laid down by Charles Dow and William Peter Hamilton 100 years ago. Robert Rhea chronicled it in his book in the 1920s. This brings us back to what Gann said, that in the market, there is nothing new under the sun.
I have seen a lot of comments written about "the edge" and how so many people go to absolutely bizarre lengths to protect it. I have never believed that this is true. For example, my "speedometer", and its how, when and why, have all been disclosed right here, while it's in the making, but how many people even care or believe that it is useful? Of the people who believe, how many of them will ever understand? Of the people who understand, how many will apply it correctly, assuming that I am able to do so myself? Of the people who can apply it correctly, how many people will be trading the same instrument and timeframe as me? And so on it goes...
In the end, I think it has been proven that entries using the "dartboard" or the CNBC chicken works, so long as there is risk and money management, so I suppose my theories can be thrown up there with these two examples :o)
Interesting article:
streetstories.com
Teresa |
