|
PureBytes Links
Trading Reference Links
|
I completely agree with what you are saying Al - very well put!
Again, as someone who has spent alot of time in the pure indicator
space and is now re-visiting and strengthening my charting skills
(with help from many people on this list), I am gaining a greater
appreciation of both. I feel that they complement each other well and
I encourage everyone to thoroughly investigate both. Both have pros
and cons and both have objective and subjective aspects. Both provide
insight into what price and volume are doing. I no longer consider
them to be an "either/or" situation but instead I am discovering a
"zen-like" balance between the two that is not only enjoyable, but is
making me a better investor.
Thanks again,
Chip
---Al Taglavore <altag@xxxxxxxxxxxx> wrote:
>
> I have been taught that there are only two real things in our trading
> world: price and volume. Every thing else is derivative. An
indicator
> is just that: an attempt to indicate the direction of price. Why not
> learn to recognize one or two patterns that price is likely to take
> before it goes up/down, and become a specialist in trading these
> patterns. Recognize that the money is not in the indicator or the
> pattern, it is in the trading. (Oh, how many times have I been so
right
> on the market's move and lost!! Lesson 101 in humility.)
>
> I read with interest concerning the 80/20 overbought/oversold levels
> being discussed with Stochastics. I have had two workshop sessions
> taught by George Lane who is credited with developing Stochastics, and
> Mr. Lane says that DIVERGENCE is what to look for in Stochastics, then
> wait for price confirmation. Price is always the confirmation.
>
> Not taking issue with your post. Just trying to contribute.
>
> Al Taglavore
>
_________________________________________________________
DO YOU YAHOO!?
Get your free @yahoo.com address at http://mail.yahoo.com
|