Clueless U of IL professor

Discussion in 'Trading' started by cubsguy81, Oct 4, 2007.

  1. piezoe

    piezoe

    Excellent! We need more of that.
     
    #11     Oct 4, 2007
  2. Well, it depends on your definition of "use it" LOL. Of course we look at MA breakouts, "Bright Bands" (similar to Bollinger's only based on volatility), Support/Resistance, and pivot points as part of our overall entry/exit determinations. This is just part of a lot of fundamentals (especially for pairs and mergers, etc.), and our "all encompassing tape-reading" (Prem/Disc to FV, RS to peer/pair/sector/market, position of spoo self-calibrating tick charts, and our "duck" list of course).

    That being said, very few of our traders get involved in candlesticks or intra-day chart patterns (of course, since we have hundreds of independent traders, there are some who are fans of TA, and are welcome to use whatever makes them money).

    My personal opinion is that TA applies more to investing than trading for a living. But, sure, the "self fulfilling prophecy" aspect is something we have to always be aware of, and plan accordingly.

    (Sounds like a coy answer when I read it, but my feelings nonetheless).

    Don
     
    #12     Oct 4, 2007

  3. not coy at all. thanks!
     
    #13     Oct 4, 2007