I'd rather Stanley Kroll's program remained a well-kept secret, but Alexander Elder's condescending
review of Kroll's latest book (S&C, August 1988) has goaded me to speak out. Elder would have us
believe that Kroll "struts" and touts a system which delivers "anything your heart desires, short of curing
Kroll's basic message is discipline: following ANY system with discipline is liable to provide profits.
Kroll cannot be faulted for mentioning that the system he uses helps one guard against a multitude of
common pitfalls. I don't recall his claiming in the book that it is "his" system, which I think shows
remarkable circumspection on his part.
In the course of my search for technical analysis programs, I spoke with a number of program authors
including Bob Pardo, Bruce Babcock and Stanley Kroll. Personal style may not be a great indicator of
program value, but Kroll has to be a benchmark. I've run across more than my share of carnival
hucksters; Kroll isn't one of them.
Prior to purchasing the Kroll/Wilder system a couple of years ago, I had spent kilobucks and almost as
many hours on Swing Trader. Despite diligent study of the confusing backup material, frequent phone
calls to Pardo Corp. and a ton of computer paper and printer ribbon, I was never comfortable with the
system. I was kept on the hook for about a year and a half with promises of updated versions ("faster,
more reliable, better backup") always on the horizon. After purchasing updates at considerable extra
expense, I chucked it. (I still get calls and mailings offering astonishing improvements, just send in
hundreds of dollars more.)
In contrast, Kroll's program provides lucid backup material; he offers to mail out any program updates
without additional cost (and has); and makes himself available for questions and no-hype encouragement
even after the money is in hand. What a difference from the usual wham-bam-thank-you-ma'am!
Kroll's book is as valuable as the reader wishes to make it. The advice he offers is generally available in
print elsewhere (indeed, especially Liver-more), but the "series of disjointed episodes" and "market
anecdotes" which Elder scorns provide the catalyst for drawing the reader's own imagination into the
applications of the basic advice. What else could one want, except for more?
Oak Ridge, TN