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Yuki,
Glad to see you back from your vacation, and I hope the portion of
your vacation exclusive of Larry Williams was enjoyable.
Over the years, I've been to two or three 'guru' seminars, and like
you, I've generally been disappointed in the quality of the
presentations, not to mention the presentors.
Frankly, until I started watching the AmiBroker board, the single best
published work I had read was Linda Rasche's 'Street Smarts' book.
Linda did not hold much back and did not let her ego get involved in
the presentation at all. Her presentation primarily focused upon
futures, while I tend to focus upon stocks. But her approach worked
well in any trading environment.
I thought I had developed a few good trading systems before getting
involved in this AmiBroker board. And when I recently posted my best
trading system results, there wasn't much feedback from others
regarding comparable results.
Then I concluded that like the old Poker Player axiom... if you don't
know who the 'patsy' is at the table, then it is probably you!
So I'll probably hold my cards a little closer to my chest for a while
until I get the 'feel of the game'.
Anyway, glad you are back.
Phsst
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> Hi DT,
>
> Tuesday, April 8, 2003, 3:38:59 PM, you wrote:
>
> DT> Yuki, Read http://groups.yahoo.com/group/amibroker/message/10072
> DT> to see the basic info for L. Williams well known indicator. Who
> DT> could imagine to put his name in ANY T/A link reproducing
> DT> Stochastic ?
>
> Sad, and surprising, but he did come off a bit like a glory seeker to
> me, so I guess I'm not all that surprised. He seemed to want to
> claim a lot of original TA stuff, and that other people copied him a
> lot.
>
> Quite frankly, I was surprised with his treatment on some things. He
> likes ADX a lot, but he seemed to not really understand how it works
> to me. He calls it a "trend integrity" indicator, and advises that
> when it makes extreme highs and then declines, the decline is showing
> you that there is no "integrity" in the embryonic new trend, and that
> it is bound to fail. Actually, this is quite wrong IMO, as the
> reversal in ADX at trend change is simply a "bleeding off", if you
> will, of the high level of trending that HAD been present. It is a
> symptom of the old trend, not yet referencing the new direction at
> all. After a while, if ADX does not stop falling and start rising of
> course, then the new direction is certainly suspect. But, that is not
> what Larry was talking about. He was talking simply about the initial
> fall in ADX from a high level, and that this fact makes a new
> direction suspect. That is not correct, IMO.
>
> It is only sometime later that the failure of ADX to stop falling and
> start rising with the new trend, that the new trend becomes suspect
> (and of course *all* new trends, especially reversals coming out of
> strong trending periods, are initially quite suspect). But a new
> embryonic trend is not suspect simply because ADX is bleeding off
> levels reached due completely to the strength of the old trend. A
> declining ADX is perhaps useful only to tell you to STAY OUT of a
> trade, IMO. Where the ADX is most useful to me is when it just
> crosses or just about crosses into strong trending territory -- on
> its way up -- signalling that there may be a train departing that you
> want to get on.
>
> Maybe I'm splitting hairs here, but I really thought he was trying to
> be a bit too "original" here.
>
> Best,
>
> Yuki
>
> mailto:yukitaga@x...
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