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Thankyou Steve,
Re Price as the No1 indicator.
I noticed that you generously put your core trading philosophy into
print recently. Some other trading survivors have said the same thing
in this forum before - Dick said Plot(Close) is his favorite indicator
and I recall Bob or Terry Magic suggesting something similar a while
ago.
The majority of my effort over the years has gone into developing a
trading philosophy - it was the best thing I ever did trading wise - it
took a lot of observing the market and trying to explain it's behaviour
to get there - if you observe carefully and objectively follow the
clues there's not too many places to go - we all end up in a similar
place.
I do believe it is a minimalist approach though and some people don't
have the temperament for it. You also have to stand against
conventional wisdom and only a few have the stomach for that.
That is only the foundation though. Once you get "price action" on the
table, as the theme, and then start to add the side dishes that go with
it things just get better and better (all of the TA classics are in
there):
- Trading the edge erodes the edge? (It's a pretty big edge!)
- What is a trend? Is there really such a thing in trading? (To linear
regress or not to linear regress?)
- Support and Resistance? (Expert studies, by academics, show they
don't work????)
- Cycles? (Fibonacci are you kidding?)
Thanks once again for your endorsement.
All the best,
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "scourt2000" <stevehite@xxx> wrote:
>
>
> Brian,
>
> Of all the things you've written in this forum, I'd have to rank this
> statement as the most profound. Any trader taking this advice will
> find a quicker path to what they seek.
>
> --- In amibroker@xxxxxxxxxxxxxxx, "brian_z111" <brian_z111@> wrote:
> > Getting rid of the CCI also fits nicely with my views that price
> > action is a superior 'indicator' to many of the price derived
> > indicators (CCI is highly over-rated by some?).
> >
>
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