manz66&NihabaAshi

Discussion in 'Strategy Development' started by vak, Jan 29, 2004.

  1. vak

    vak

    a just read part of long discussion
    betwwen you guys here :
    http://www.elitetrader.com/vb/showthread.php?s=&threadid=17357&perpage=6&pagenumber=4

    and just wanted to add this :

    A/ the 2 jcp chart posted by manz66 aren't from him but from me, i posted them at the time on a small trading forum, as
    for the other i'm praticly sure they aren't from the same person as i remenber clearly having had a "e-dissscussion" with the people who made them....


    B/....hence the interest i took at reading NihabaAshi's response :
    first off when the jcp charts (and a handfull of others) were posted i wasn't a full time trader, and was merely doing some charting+fundamental+money management work on weekly/daily charts during the w/e

    most orders (long and short) were made on the afternoon thru a retail online brocker 30min off the closing bell (i'm in centrale european timezone) and positions were left to themselves with just the S/L and T/P levels preset,

    i would then check my account summary each w/e only carring about closed positions&allways keeping screenshot of forcasts and there outcomes to improve the learning curve

    (i probably beat i great deal of the mutual fund industry that way in 2001&2002 )

    =>> so yes i remenber having been on vacation during that trade and a couple of others (sometimes in places where even
    a daily $indu quote isn't available)

    i no longer us charting analysis but gotta say that some of these often bashed "lagging indicators" have helped as much as pattern and t-lines (i still don't feel confortable loocking at a chart
    W/O the macd or the OBV below it)
    as for the comment about the divergence between the price and the rsi :
    the horizontal line shows the S/L lvl the rsi is based on the closing price and IMO one should loock for divergences between the closing price and the indicators (whish was the case there)


    regards,