http://www.elitetrader.com/vb/showthread.php?s=&threadid=100355 these tapes are still for sale , never got around to putting them up on ebay, 225.00 for the whole lot
So, what about using mas to estimate "accepted" areas of support or resistance and trading price action (or anticipation) at those points?
Hello everyone, technical analysis looks interesting. Searched the internet and found plenty of good resources as follows: "Intermarket Analysis And The Deutschemark," Technical Analysis of STOCKS & COMMODITIES, by Forest, Richard "John J. Murphy, Intermarket Analyst," interview, Technical Analysis of STOCKS & COMMODITIES, by Hartle, Thom Intermarket Technical Analysis: Trading Strategies For The Global Stock, Bond, Commodity, And Currency Markets, by Murphy, John J. "The Link Between Bonds And Commodities," Technical Analysis of STOCKS & COMMODITIES, "The CRB Index/Bond Ratio," Technical Analysis of STOCKS & COMMODITIES "Interest Rates And The US Dollar," Technical Analysis of STOCKS & COMMODITIES The All-Season Investor, by Pring, Martin J. [/list=1]
Buy Murphy's book as a reference on all types of tools and analytics and Suri Duddella's book for practical aplications of many technical patterns based mainly on price.
Here is a book with similar value to most other TA books Who knows? Maybe it will be getting a following like Gann or Elliott. This is one of the early practitioners looking for trading success:
I used a dowser to find water on my property. The well drillers said I could only get water at 200 feet plus and would be lucky to see 60 to 70 gallons per minute with a high sulpher content. I brought in a dowser and landed 2 wells at 80 feet and both wells produce over 90 gallons per minute and both produce no sulpher. I guess if we keep our mind closed to all of the possibilities we miss out on the truly amazing things life has to lay before us.
A similar story I heard from my uncle Still don't believe in dowsing. Regarding TA I think you have to define what it is, and then decide if it has any validity. I think there are two categories of TA. One is "magic" BS, such as use of fibonacci numbers and similar fantasy. The other is TA that really helps you exploit markets, i.e. TA that helps you generate those fat-tail trades. For instance, ATR indicator - a simplified TA tool to measure recent volatility, might be successfuly used to trail stops and catch those fat-tail winners. Next two most important things are: 1) there is no deterministic dependence in market - you cannot be right 100% of the time, any trading method will have losing trades and drawdowns. If you happen to have 60% drawdown, that's most probably risk management or discipline problem, not TA's. 2) markets change, never expect for some method to work forever, it is impossible. What worked 5 years, 10 years ago does not imply it works today. You have to implement some safety fuse strategy for the trading methods. Detect performance deterioration and dump the system in advance before it becomes a loser. Regarding the systems in TA books, there are mainly four problems: 1) they're probably overfitted to some pas data and useless 2) probably too old for current market conditions 3) making a method publicly known renders it useless 4) some involves fantasy BS (such as fibonacci sequence numbers), with no statistical basis or hard to impossible to test, usually decorated with BS sure-fire statements such as "holy shit it really works" :eek: Actual quote: "Momentum is one of the five concepts that can bring us short-term trading profits. It is what Newton was talking about when he said an object once Set in motion tends to stay in motion. So it is with stocks and commodities: once price starts to move, it will most likely keep going that direction. [blahblahblah] I will not delve into all of them, just the ones I have found to work, and the concept, I trade with." Sounds like a tale told by a grandmother, only made to sound more scientific with references to Newton. Way to deceive the gullible.