This thread has been hiJACKed. Once a thread has been hiJACKed, it's over. The thread continues to grow exponentially, but with Jack and a handful of followers -vs- the anti-Jack posters arguing over his nonsense. There will be no content of value from here on out............. Net result of Jack entering the fray = Thread over
My first post. My approach is skepticism regarding any of the indicators that are bandied about. I've examined several in detail and found all of them wanting in one way or another. For example, when the TA'er draws lines on his chart, he is generally connecting the high (or low) of a SINGLE TRADE with another one. He might be ignoring hundreds of intervening trades, and assuming that those two that he picked out magically tell him the future. Or, take the calc for Beta. The common method is to take a standard deviation of the data. Two problems: (1) the method assumes a normal distribution (which is unlikely), and (2) unless you do the process in two steps, you are working with deviations from the AVERAGE OF Y, which is a horizontal line! Why in the world would you base your calcs on a nonexistant flat horiz line when most often there is a trend present? Look at another problem. The "Slow Stochastic" is actually weighted in an odd manner. I don't think the author intended that., but it's true. After going thru this crap for years, I now disbelieve almost everything I see, and build my own methods, testing them till the cows come home. My batting average for the last 20 trades is 95% wins. Long term average (years) is just below 85%. There ain't no free lunch, just a lot of complex work.
You guys are putting too much importance on indicators..they are a small part of your analysis..a piece of the puzzle- sometimes they don't forcast nada ! Failure swings..that's about it. RSI and MACD
Review David Aronson's Evidence book on TA (Amazon, elsewhere). But that is only the beginning. Evidence SUPPORTING TA is few and far between, especially after factoring out all trading costs. It is mostly chased by believers and opinions, who "know someone who know someone who uses it".
How can anyone who claims to know so much, be so clueless to ET public consensus about his constant empty prattles? Doesn't he ever notice that no one listens? Is his life so empty that he even has to respond to his own posts (such as in this thread)?
Which Moving Averages and/or Indicators Do the Big Players Use? The answer is easy even if you know little about large players (funds etc). If an amateur is using an indicator it is merely a mathematical formula applied to price history up to the current live price. Do big players use mathematical formulae? Of course they do; all the time. However this does not preclude fundamental analysis in the evalution mix which they will be using too.
After going thru this crap for years, I now disbelieve almost everything I see, and build my own methods, testing them till the cows come home. My batting average for the last 20 trades is 95% wins. Long term average (years) is just below 85%. There ain't no free lunch, just a lot of complex work. [/B][/QUOTE] Sounds too good to be true. Just kidding. Are you talking about scalping or minute trading? And what do you trade? An even more important question seems to me measuring targets - apart from scalping obviously - if there is a way besides getting stopped out via trailing stops.