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Gary,
My two cents:
I don't think there is such a thing a "proven correct" indicator, if that
phrase means an
indicator that is correct ALWAYS. Each one works well under certain limited
market
conditons. I think the trick to building an indicator-based system is to ask
key questions of the market, eg. what is the trend? what is the quality of the
trend?, are we in a pullback?, etc. by selecting an indicator designed to
answer just one question. The final trading decision then depends on the
traders' judgment, based on the answers the indicators reveal. Possibly, the
answers each indicator reveals can be programmed, i.e. in a binary wave and
then in a system.
Best wishes,
Fred Bender
Randall_Gary@xxxxxxxx wrote:
> Walter Lake mentioned "Proven Correct" indicators in his recent post on
> Trade management indicators. There was also a discussion on this a while
> ago. I like the Phantom of the Pits thoughts on this, especially in terms
> of volume, but have not come up with anything I'd want to bet much money
> on.
>
> Does anyone have any more thoughts on this?
>
> Gary Randall -- Brunswick, Maine
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