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Strategies & Market Trends : Technical Analysis - Beginners
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To: Smooth Drive who wrote (11762)3/22/2001 3:05:36 PM
From: TechTrader42  Read Replies (4) of 12039
 
I've skimmed it. Some interesting quotes in there:

"The market is very sophisticated in luring people into thinking that easy money is possible."

"If trend-following has been working, my working hypothesis is that the opposite will happen."

"The Gamblers' Book Club is a necessity for every good speculator. Speculators should examine all the books on that list and study up on the them, because in general the level of expertise in counting and the statistical and scientific grounding are infinitely higher among gamblers than among speculators. You'd be thrown out of the Gamblers' Book Club if you ever tried to write a book without working out the results of some measure of exactly what your system is, how it can be defined, and how it can be tested, without results of an operational test. I'd say 99% of the gambling books have such a modality, which of course is the elementary prerequisite of all scientific inquiry, and 0.11% of all technical analysis meets those elementary criteria."

"I loved my grandfather. But this guy, after he failed in the stock market, he learned 35 languages ..."

"He'll say, 'There's a book by a guy named Niederhoffer, and in it he says that all gamblers die broke.' "

"My book has had an impact in Vegas. It relates to the point that you can't gamble and make money. You have to be scientific and you can't give the house an edge. You know that checkers proverb? It'sometimes not whether you're right ..."
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