A reader laments the “bad” literature on trading available:
“Dear Mr. Covel, I bought your book, Trend Following, because I liked another book by the same publisher. I noticed that in the index, there is no entry for ‘[W. D.] Gann’. There is no entry for ‘Elliot [Wave]’. So far, so good. I decided to read the book. I haven’t run across any advice like, ‘If you want 4:1 risk reward ratio, buy things that are going to go up 40 points and put your stop 10 points below your entry point’. So far, so good. I’m going to read the rest of the book. Thank you for writing a unique book. I know the word ‘unique’ gets used a lot, but, in this case, I believe it to be the correct term. Chuck C.”
Thanks for the nice words Chuck. Wrapped in your compliment are key pieces of wisdom for the Holy Grail crowd.