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There is no such thing as always. But a level of success that you accept is
proven to you. you want a indicator that will let profits ride in a trend,
take profits at the end or sell quickly if price backs up.
Richard Estes
-----Original Message-----
From: Fred Bender <fbender@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Tuesday, September 22, 1998 10:25 PM
Subject: Re: "Proven Correct" indicators
>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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