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I don't know about others, but for myself at least, still somewhat new to
the TA game, the number of indicators available quickly overloads my
capacity to understand what is going on. For the moment I've settled on
using the Standard Deviation Trend channel, set tightly at "1," to help
identify possible entry and exit points.
Up until Friday (8/21), it worked pretty well. I moved in and out of
several securities profitably. Now I have a decision to make. One of my
stocks fell below the channel. If I remove all emotion, I sell first thing
Monday. If I allow myself to think about it, I admit a hesitancy toward
selling. Part of that involves whether or not I believe we're headed into a
bear market. But than, that's emotion isn't it?
H
-----Original Message-----
From: John Manasco <manasco@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Saturday, August 22, 1998 12:36 PM
Subject: Re:System development
>Steve Karnish
>
>Thanks for the reply. You're right about my exit strategy. This is
>something I'm working on to improve. I'd like to come up with something
>that takes the decision out of my greedy little hands. I'm at my worst
>when I try to outguess myself.
>
>I've never traded commodities, never even new what they were until about
>five years ago. Someday I'll venture into that arena but for now I'll
>stick to equities and options.
>
>Your forcast oscillator system is concise and to the point. I like
>systems that have a minimum of indicators much more than systems that
>use a myriad of indicators overlapping each other. Do you also use other
>money management rules in case your system fails?
>
>Do you find some systems work better on futures that equities? I'm
>comming to believe that there is no one system that will work on
>everything but I need to tailor my systems for different industry
>groups and different individual equities. This is hard to accomplish
>without curve fitting but I'm finding that stocks do have their
>individual personalities and respond better to some indicators than
>others.
>
>Do you use candlesticks exclusively? Could you say something about why
>you like them?
>
>Anyone else want to jump in please do so. I'd like to hear from new
>investors and users of Metastock. How are you going about deciding which
>indicators to study? Are there any trends developing which may be
>helpful to more seasoned investors who also need help? When I first
>started using Metastock I looked at the usual RSI, MACD, Stochastics
>etc. Then everyone started exploring statistical based system. What's
>new now? Any using fibonacci studies? How about cycle analysis and fast
>fourier transforms? A Gann discussion group just started. I hope they
>report back to the list on regular occasions on their progress.
>
>Anyway it's a nice afternoon and I'm going outdoors to enjoy it.
>
>Good trading
>
>John Manasco
>
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