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Hi group,
I just began reading Howard Bandy's book (even though I did not finish Aronson's book yet...), and a somehow philosophical question came to my mind when he speaks about the market's inefficiency and how we must take advantage of it. He talks both about moving averages and breakout, and I was wondering which one of the two techniques do you think is the more promising for such a system?
I ask this because as far as subjective technical analysis is concerned, I am more used with breakout techniques. But the real inefficiency in breakout techniques comes from time, that is if one can act quickly enough to make a profit from the sudden change in price. But from my experience it seems to be more difficult with EOD or hourly data. And it is less profitable for someone (like me) who is using options, which tend to anticipate the change quicker than it really happens.
Moving averages techniques, on the other side, seems a bit mystical to me, and maybe a bit too simple or too « easy ». I don't know much about them...
But anyway, my question is: which one of those two techniques do you prefer, or do you use both for entering a trade, or shorting a trade? What can be a good way to trade for someone (like me) who wants to trade hourly data and can't always get the beginning of a breakout?
Thanks!
Louis
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