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That statement doesn't tell me anything concrete. It implies though that you
think indicators have no value?
----- Original Message -----
From: Al Taglavore <altag@xxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Monday, February 19, 2001 4:56 PM
Subject: Re: Question on using Indicators
> AS>...My personal experience on using indicators..
>
> That is what they are: INDICATORS. As I have expressed before: the only
> real things are price and volume.
>
> Al Taglavore
>
>
> ----------
> > From: Alexandros Spiroglou <a_spiroglou@xxxxxxxxxxxxx>
> > To: metastock@xxxxxxxxxxxxx
> > Subject: Question on using Indicators
> > Date: Monday, February 19, 2001 1:20 PM
> >
> > Dear Listmembers
> >
> >
> > I would appreciate any comment on the following:
> >
> > "Oscillator signals are often cast in the role of secondary indicators,
> or market
> > alerts: they warn of potential price developments. Price based signals
> like breakouts,
> > moving average crossovers , chart patterns function as the actual trade
> triggers.
> > This kind of discretionary integration of oscillator signals is likely
to
> be more
> > useful for most traders than independent, systematic applications.
> >
> > However this raises the question of the added value of the oscillator in
> such situations:
> > because the price-based trade signals would occur regardless of the
> activity of the
> > oscillator"
> >
> > My personal experience on using indicators (RSI, MACD,ADX, etc)is to
> "consult" these,
> > when price is on a support or resistance level - to see any bullish or
> bearish features-
> > and act upon price action. But as previously mentioned since price
action
> is the
> > main reason for entering a trade, what is the point of doing momentum
> analysis at
> > all?
> >
> > Recently I was observing a stock consolidate on a support level -and
have
> a positive
> > RSI divergence-
> > however a few days after, momentum fell, and the RSI trendline was
> broken, and the
> > stock broke support.
> > I shorted the stock with a 5% stop-loss just above support (now
> resistance)levels.
> > Since my trade was based on price action, observing indicator behavior,
> proved pointless.Even
> > if the stock had indeed exhibited "textbook" behaviour and broke on the
> upside,
> > I would have simply bought it , but still the RSI would have given me no
> "value"
> > since my main entry-trigger would have been price action and not the
> indicator pattern/value
> > etc.
> >
> > Any comments/recommendations would be highly appreciated.
> >
> > Kindest regards
> > Alex Spiroglou
> >
> >
> > Find the best deals on the web at AltaVista Shopping!
> > http://www.shopping.altavista.com
>
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