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Dear Alexander,
I post S&R for several reasons:
1.So people can compare their own with the ones posted.There are more people
who use some form of S&R in their trading than you perhaps are aware.They
may average,modify or disregard.
2.To save people money who use them since there are services that charge
$200 per month.
3.So people can consider them as another indicater to add to their arsenal
should they so choose.[I do not know how swing trader is done or some
sophisticated charting or even fully understand some brilliant posts by
Earl,but I find them useful}.
I do not call them "predictions" but rather guidelines.To make them more
useful I am now posting recaps to let people assess.
I personally do not think enough people post their thoughts.I saw a long
series of posts on T-Bonds after I asked some questions.Being a bit of a
contrarian I bought 16 Bonds at 90-28 and sold at 91-10.People could also be
contrarians to what I post.
Someone is now posting Pivot point info.I do not use them but welcome the
info for comparison.I also really miss Ira's and Ben's and a few others
posters who were often blasted.
The next thing you know someone will dislike my option posts or stock
research quotes,two other fields I selected because I saw little action in
them and thought I had something to offer as with S&R.
I am personally delighted when I see chart projection posts or swing trader
and a few others even though I do not fully understand them,I always glean
something from them.
I really appreciate the politeness of your post even though you apparently
disagree with me.When I was taught by the Jesuits they offered a course
known as "Apologetics" to defend your faith.It is becoming quite fatiguing
defending my posts and also a probable nuisance reading public responses to
challenges of my posts that could be made privately to me if they were truly
sincere which I will answer privately.
I think all of my cards are on the table.I will no longer respond publicly
to criticism because I think it has all been said.As someone once said,"If
you do not like the posts,the delete button is quicker than the reply
button."And quite frankly there are more positive responses than negative by
my count.
Thank you for your courtesy,
John
>From: Alexander Levitin <alevitin@xxxxxxxx>
>Reply-To: alevitin@xxxxxxxx
>To: <realtraders@xxxxxxxxxxxxxxx>
>Subject: [RT] Open letter to Dr. John Cappello
>Date: Thu, 30 Dec 1999 00:33:46 -0800
>
>Dear John,
>
>I would like to understand the benefits of your posting that predicts
>parameters for the tomorrow trading. The reason I write that letter
>"public" is that I am addressing the purpose of our forum "Real Traders"
>and would like to learn the opinion of others.
>
>In my understanding our forum should make the life of the real trader (one
>who is trying to make money trading) easier and better. Easier by informing
>us about trading related issues that other wise would require more time for
>research. And better by sharing experiences, understanding of trading
>methodology and discussing trading "theories". That may draw our attention
>to the new research field and inspire us to proceed with it. Another very
>important "function" is that our forum could offer "moral support" to the
>trader in need, be it being on the wrong side of the market or keeping
>someone from stepping into it.
>
>Back to the posting what SPX may do tomorrow. Let suppose that your
>prediction are accurate 100% (just for the discussion). So what I suppose
>to do?
>
>1. To follow your signals and make money. That would be very noble of you.
>But I could not do it. Not knowing how you obtained your projection I can
>not incorporate them into my trading. So it would be more appropriate to
>post your projections on your web site. Then those of us (who are more
>advanced then I am) could follow the prediction without understanding what
>they are based on.
>
>2. You are showing to the world that "holy grail" exist and I should not
>loose the hope to find it too. Looking at your predictions I should get
>inspired to continue my own research until I would find the methodology
>that is almost as good as yours. That is too very noble of you. But even in
>this case, it may be sufficient to post projections on your web site and
>just inform us (let say monthly or quarterly) how accurate are your
>projections.
>
>The reason I recommend to keep that list "free" of the daily projection is
>my understanding (or misunderstanding) for the purpose of this list. Could
>you imagine that I will post my projection of tomorrow market actions (and
>belive me I do have a few of those)? What would happened if everyone would
>post his (her) opinion on this list? Is that we would like our Real Traders
>forum to be?
>
>My best wishes to you in your life, trading and research.
>
>Very truly yours,
>
>Alex.
>
>
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