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With the B band system I used, results were good in all intervals -- not
just daily intervals -- for 500 bars. Yes, there are some trades in which
the price continues down under the lower band, but overall, the system shows
good profits. Will wonders never cease.
One hardly has to be a formula money (oops, Freudian slip), a formula
monkey, to use Bollinger bands. Pretty basic stuff. No monkeying with
formulas required. Good ole John Bollinger did the advance work for us. And
it doesn't take a formula wizard to appreciate the fact that when price hits
the lower band, the stock is oversold. Duh, gee.
But B bands are just one system among many. I'm hardly a defender of B
bands, and I don't wish to convert anyone. Different strokes, ya know, for
different formula monkeys. They do have their uses, though.
I don't mind seeing B bands getting bashed. I just thought I'd present
another view of 'em. Whatever works, as they say. Formula monkeys like basic
things, too -- even cliches, when they do the job.
----- Original Message -----
From: Bodo Brochterbeck <Minotaurus007@xxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Wednesday, August 09, 2000 10:39 AM
Subject: Re: Bollinger Bands & Formula Monkeys
> Hi Trendline Monkey!
>
> Formula monkeys try the same as you do! Unlike the traditional
(trend-)line monkey they want to be able to validate their results and to
free them from pure fantasy.
>
> Bodo
>
> *********** REPLY SEPARATOR ***********
>
> On 09.08.00 at 08:33 Douglas C. Weber wrote:
>
> > God if I see another question regarding Bollinger Band formulas I'm
going to
> > PUKE! They are worthless for technical
> > trading. Draw some support/resistance levels, a few trendlines, and an
> > oscillator (ie. stochastic) for overbought/oversold.
> > Along with volume spikes and news announcements, these are the only
tools
> > anyone needs. I've never seen a "Formula
> > Monkey" who could make consistent money.
> >
> >
> > ______________________________________________
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>
>
>
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