" Here's the jist of Gallacher's discussion: * Fundamentals rule the day - technical analysis by itself is worthless. * That being said, you need some technical entry and exit system to support your trading system. * All technical only systems are pure crap - Fibonacci, Gann, etc are great only when applied to historical data. * Risk management is very important so that you don't go bust - he lists suggested position sizes for various situations. * Your entry/exit system does not matter, as long as it's consistent. Gallacher employs a 10-day breakout entry and exit in his text. "