Friday, June 06, 2008

Slope of Hope and Tim Knight

"Wall Street never changes, the pocket change, the suckers change, but Wall Street never changes, because human nature never changes"
Jesse Livermore

This is as much as this post will have to do with trading - quit reading now.
For me this is the only way to respond to Tim's post - he graciously banned me from been able to post on his fine blog.
( In spite of his statement that "this is a free country" - I always say "it USED to be a free country?")
( There was a problem with Comments System - My bad )

Tim, once again, with all due respect to your good job with, with all due respect to you for been a good businessman - Tim your approach to trading/technical analysis seems to be INFLEXIBLE, Bearishly biased at ALL times ( good or bad), not so well timed and I've seen a few traders even before all this "blogosphere era" during my many years, as I like to say, of making mistakes.
Just my humble opinion, I might be deeply mistaken indeed.

I am NOT bashing TAs - I use TAs, different ones all the time, nothing works forever, especially at the time when every startup brokerage offer "pattern finders", "trendline trading" and all the plethora of tools previously been available only to institutional traders - when "SECRET" is out - it aint secret anymore, only for suckers.

Trader is more of a mindset/experience ( even with TAs )

I did not want to offend you, I admit my language was a little more strong than occasion called for, and for that - please accept my apologies.

But the point been - market is ever changing, but you approach staying the same, same methods, same bearish bias ( I can be Bear or Bull - I am bearish now - whatever makes me money - I have to pay my living expenses trading, don't work for Nobody No More )

It always amuses me how grown up manly man can be so easily set off by simple open critique - no real trader will defend his "honor" so vigorously because of few critical comments.

Tim, forget disclaimer , people ARE looking up at you, I hope you DO feel responsible
Thank you for publicizing my lonely blog - here is the link to yours - the only time when it'll appear here - I am going to miss good folks at your place.

DavidDT A.K.A. David Dumb Trader

P.S. Tim - there was no blame on my side - we are in the different time zones on market timing :-)

P.P.S. Tim - even suggestion to release my email which is confidential per Disqus user agreement is illegal and immature, but your admirers are welcome to use the one "at the top of my site"