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Larry sent this to the list, but it was too big with its attachment.
Anyone who would like to review Larry's .xls tabulation should
request a copy directly from him. I've set the Reply-to line
of this mail accordingly.
--
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maintainer of the omega list
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---------------Forwarded message----------------------
Message-ID: <366D62ED.6F82@xxxxxxxxxxxxx>
Old-Date: Tue, 08 Dec 1998 09:33:54 -0800
From: Larry Williams <larrywms@xxxxxxxxxxx>
Organization: CTI Publishing
X-Mailer: Mozilla 3.0 (Win95; U)
To: omega-list@xxxxxxxxxx
CC: kci5vbtp@xxxxxxxx
Love notes from Larry…
There is some misunderstanding among you guy's maybe I can clear up.
First is the persistent idea that a trader can have two accounts, one
gets the winning trades, the other the losers.
There is only one way that can be done.
If a trader has two accounts (I have only one account at each firm where
I trade) you might persuade the broker to hold the account number for an
hour or so and place the winning trades in one account, the losers in
another.
But---and this is important---no broker would do this very often and it
can only be done on trades lasting a less than a few hours.
Since the ultimate profit or loss on overnight trades is not known for a
few days there is no way two accounts could be used. After all, if
trader knew which ones would be winners he or she would not need that
second account.
I disagree with ITRDSP@xxx about time gaps in a trader's activity. To
me if there is no trading for a few days it suggests a trader with the
patience to not trade every tick, not duplicity. He makes the
statement, "many vendors will have multiple accounts that show winning
trades in one or two and asigning (sic) all the big losers to the
others".
That's a pretty strong accusation of financial fraud. I'd sure like to
see some hard proof of it, not just a general allegation that splashes
black paint across the board.
Which is what a lot of you seem to be bent on doing. Your recent
remarks about Tom DeMark, admittedly my long time friend, have done.
Like all of us developers, Tom gets carried away with his "inventions";
after all they are like our kids, the best on the block.
But Tom is no hustle; he is as real as they get. He passionately lives
this business and is the consummate researcher with many (yes, many)
unique ideas that traders like myself have been able to use.
Are all his ideas bulletproof? Of course not, but has he left a legacy
of good ideas? Absolutely. So why besmirch the reputation of a man you
don't even know? Maybe that makes you feel big and if so I'd suggest
you are pretty small.
Finally in reply to Kent Calhoun, who asked you guys, not me, about my
track record for December 1997, I'm showing the complete trade by trade
tabulation as reported by CTCR the only truly independent source of
commodity newsletters performance. Kent, why don't you let CTCR start
to follow all your trades, it would certainly put your critics to rest.
this especially for you Kent Calhoun
Larry
[attachment filename="ComTim1297.xls" deleted]
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