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<SPAN
class=448251218-28102002>Herman,
it
depends on the market. If your market is obviously trending then using an
oscillator may very well be counter productive since oscillators can and will
stay OB/OS for extended periods in a trend. In this case a trend following
indicator may offer more insight. In a consolidating market oscillators mayhold
some predictive ability. So.... If you are trying to pick the bottom of a 3year
bear with a 20 day oscillator then their use may well be a fools game. If on the
other hand you are trading a rolling stock or a short term trend then you may
well be a smiling fool......
<SPAN
class=448251218-28102002>
fool
in training :)
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Herman van den Bergen
[mailto:psytek@xxxx]Sent: Monday, October 28, 2002 11:01
PMTo: Amibroker@xxxx ComSubject: [amibroker]
Oscillators are a fool's game
"Oscillators such as
RSI, stochastics, Williams %R, etc. are all designed to help people who are
trying to pick tops and bottoms. In my opinion, this is a fool's game."
Van Tharp
in "Trade your way to financial freedom" (p219).
How many fools do we
have on this list?
<SPAN
class=290004101-29102002>
<SPAN
class=290004101-29102002>Herman
a fool
:-)
<SPAN
class=290004101-29102002>
Ps. Firstreading
done, tomorrow I'll study the good stuff: Expectancy and
PositionSizing.
<SPAN
class=290004101-29102002> Post
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