Registered: May 2005
10-27-12 12:13 PM
Quote from jsp326:
Same ol' same ol'.
A thread about an indicator, price pattern, model, etc. It should've ended when several people said they backtested it and it wasn't profitable.
But no...the white knight comes in. "It works if you look at it in 5 different time frames over 13 different markets. And when my 8 other indicators line up. (See the Fibonacci connection as well?) Yes sir. I've done very well with it. Just don't ask me for an account statement or to make real-time calls. Trust me...I'm typing this from a mobile device from my cubicl...er, I mean, yacht!"
No one can backtest it because it's all so complex and subjective.
Suddenly, the indicator experiences a revival. Its creator is happy (whether it's a vendor guru or a nobody on a trading forum). And the myth lives on. Seeing how long Gann and Elliot have been running, there's no telling how long TD will make a mark (no pun intended).