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Well written thoughtful and instructive commentary.
Thanks.
----- Original Message -----
Sent: Tuesday, January 11, 2005 7:01
PM
Subject: Re: [Metastockusers] Digest
Number 1347
Chichungchoi,
Indicators are like stocks. You have
to get to know one and know what the
formula and the concept behind it is.
Once you know what the indicator is
indicating then you can look at the
chart and determine if the indicator
is showing anythng worthwhile. Is
there a one size fits all indicator?
No. If there was it'd soon be factored
in by the market and it'll become
useless anyway. Like the name says, it's
an "INDICATOR" not a predictor.
It only tells you something about the
condition of the market currently
not where the prices are
headed.
One other thing, "KISS."
As you study the charts over
and over again and draw trendlines and
notice formations reflect it against
your indicator, you'll become more
and more intuitive about the whole
thing. That's when you become a
trader. You become your own indicator - ala
Soros. This is also probably
the reason why you have to toil over trading
for years. You read, you
study, you research and you explore until you come
up with something that
talks to you. Yeah there are those that'll tell you
that entry is
everything, others that'll say that it's about probabilities.
This is all
true but is it true for you? That's the million dollar quetion.
What may
work for one trader may not work for you. Why? Because at some
point you
become discretionary. It's just human nature and since markets
basically
reflect human nature, that is, fear and greed, it's only natural
that it
is very difficult to fit either or both the trader and the market
to a
mechanical method. That's the constant battle that goes on within. Do
you
absolutely rigidly conform to the prescribed method found by
computerized
research or do you put a little bit of experience behind the
trade? In
the end it's up to the individual but I imagine even the best
system
traders still use discretion. Markets constantly evolve and change
and so
must the trader. Even if you are a very disciplined trader you
still
constantly do research and tweak your approach or method. Otherwise,
if
you stand still, when your approach goes out of cycle you'll give
too
much away. That's why you'll have to read and read and research
and
research just to keep up with the markets.
There is one
constant that should always be your guide if you are a
techinical trader.
That is the aforementioned "fear and greed." That has
been and always will
be the one constant of ANY market. If you're a short
term trader that maybe
your best friend. And even if you are a longer
term trder it'll give you
better entry points. That's why Bollinger bands
and regression channels
tend to show support and resistance as the
markets gyrates from one extreme
to the other. So if you base your
research on that kind of thinking you may
have better luck.
Lastly, have fun with the whole thing. It's a
business but if it's not
fun then you'll be miserable because you'll lose
money and time for a
good while and I imagine, unless your one of the
gifted, a lot more than
you may expect. But if you toil through and manage
to come out the other
end, you'll probably feel that is was all definitely
worth it!
good luck!
Gus
> Message:
1
>
Date: Mon, 10 Jan 2005 00:02:18 -0000
> From:
"chichungchoi" <chichungchoi@xxxxxxxxxxxx>
> Subject: Should I
follow indicators?
>
>
> There are too much indicators for
trading. Could anyone give me any
> advise whether I should strictly
follow one indicator to trade or
> determine the trend with a lot of
indicators for confirmation on any
>
> trading signals?
>
> If I follow one indicator, I will get a clear boundary for entry and
>
> exit. If I determine the trend with a lot of indicators, I
wait most
>
> of the time, and miss the entry and exit, because
there is no clear
>
> boundary.
>
> Does anyone
have any suggestion?
> Thank you
> Eric
>
>
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 2
> Date: Sun, 9 Jan 2005 16:08:25 -0800
(PST)
> From: Bill Kearney
<bill_k35_2000@xxxxxxxxx>
> Subject: ~ AA+Quants Investment
Club { Join Now } Link enc... ~
>
> ---> http://www.groups.yahoo.com/group/AAQuants/join
{ Join Now }
> & Be On Your Way To Becoming More Market Savvy
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To Well Over 100 Financial Sites !! + Tips, Tricks &
>
Techniques Professional Money Managers Utilize !! & Coming Soon,
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Feel
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link:
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{ Join Now }
> <------------------------------>
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> President of the Wall
Street Journal !! Join Then go to Messages &
> Click on the
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>
>
_________________________________________________________________________
_
>
>
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$
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>
>
>
>
>
>
>
>
>
>
>
>
>
>
> ---------------------------------
> Do you
Yahoo!?
> The all-new My Yahoo! – What will yours do?
>
> [This message contained attachments]
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 3
> Date: Mon, 10 Jan 2005 00:56:03
-0000
> From: "superfragalist"
<jackolso@xxxxxxxxxxx>
> Subject: Re: Should I follow
indicators?
>
>
> Yeah, I have a suggestion. You should
read something around a 100
> trading and systems development books,
and then if you plow another
>
> few thousand hours into
understanding what you've read,
> experimenting
> and figuring
out how to trade with what you've come up with, then
> you'll be close,
really close.
>
> There's nothing anyone on here is going to post
that will help you
> more than the above mentioned paragraph.
>
> If there was one good indicator--or trading method--we'd all be
> using
> it. We ain't. Indicators fit people and personalities.
It's all in
> what you can use, and no one on here, or anywhere else,
can define
> that for you.
>
> Go to amazon buy every
book they have on trading and sytems
> development and you'll be off to
a relatively mild start, but
> generally in the right direction.
>
> Read Van Tharp's Trade Your Way to Financial Freedom
first. That
> will
> get rid of a lot of your misconceptions
like entries are important.
>
> Read the other 100 books next,
and then read Van Tharp's again. By
> that time you might have a prayer
of getting it.
>
> If you want easy--go bowling!
>
> Sorry, but them's the realities.
>
>
>
>
> --- In Metastockusers@xxxxxxxxxxxxxxx, "chichungchoi"
>
<chichungchoi@xxxx> wrote:
> >
> > There are too much
indicators for trading. Could anyone give me
> any
> > advise
whether I should strictly follow one indicator to trade or
>
>
> determine the trend with a lot of indicators for confirmation on
>
any
> > trading signals?
> >
> > If I follow one
indicator, I will get a clear boundary for entry
> and
> >
exit. If I determine the trend with a lot of indicators, I wait
> most
> > of the time, and miss the entry and exit, because there is no
> clear
> > boundary.
> >
> > Does anyone
have any suggestion?
> > Thank you
> > Eric
>
>
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 4
> Date: Sun, 9 Jan 2005 20:41:13 -0800
(PST)
> From: Bill Kearney
<bill_k35_2000@xxxxxxxxx>
> Subject: ~ AA+Quants Investment
Club { Join Now } Link enc... ~
>
> ---> http://www.groups.yahoo.com/group/AAQuants/join
{ Join Now }
> & Be On Your Way To Becoming More Market Savvy
Today !! ~
> AA+Quants ~ is a 5 STAR Rated
Investment Club !!!!! WoW ***** :
> The Club Provides :
Economic & Market: Data, News & Reports + The "
> BEST "
Educational Articles, on Investing in all of Yahoo Groups !!
> + The
Largest & " BEST " Links Section in all of Yahoo Groups !!
> Links
To Well Over 100 Financial Sites !! + Tips, Tricks &
>
Techniques Professional Money Managers Utilize !! & Coming Soon,
>
Investment Book Recommendations List !! Click & Join Now !! &
Feel
> " FREE " To Forward the Clubs Link to a Friend or Group !!
link:
> http://www.groups.yahoo.com/group/AAQuants/join
{ Join Now }
> <------------------------------>
Join Now & RECEIVE a " FREE " 2
> Week trial of the WALL
STREET JOURNAL , complements of the
> President of the Wall
Street Journal !! Join Then go to Messages &
> Click on the
Wall Street Journal Offer ~ Bill ~
>
>
_________________________________________________________________________
_
>
>
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$
>
>
_________________________________________________________________________
_
>
>
>
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>
>
>
>
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>
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>
>
> ---------------------------------
> Do you
Yahoo!?
> Yahoo! Mail - You care about security. So do we.
>
> [This message contained attachments]
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 5
> Date: Mon, 10 Jan 2005 00:35:59
-0500
> From: nikku <nikku@xxxxxxxxxxxx>
>
Subject: Re: ~ AA+Quants Investment Club { Join Now } Link enc...
> ~
>
> sheesh - can't anything be done about
this??
>
> Bill Kearney wrote:
>
> > ---> http://www.groups.yahoo.com/group/AAQuants/join
{ Join Now }
> &
> > Be On Your Way To Becoming
More Market Savvy Today !! ~
> AA+Quants ~
> > is
a 5 STAR Rated Investment Club !!!!! WoW ***** : The
Club
> > Provides : Economic & Market: Data, News & Reports
+ The " BEST "
>
> > Educational Articles, on Investing in
all of Yahoo Groups !! + The
>
> > Largest & " BEST "
Links Section in all of Yahoo Groups !! Links
> To
> > Well
Over 100 Financial Sites !! + Tips, Tricks & Techniques
>
> Professional Money Managers Utilize !! & Coming Soon, Investment
> Book
> > Recommendations List !! Click & Join Now
!! & Feel " FREE " To
> > Forward the Clubs Link to a Friend or
Group !! link:
> > http://www.groups.yahoo.com/group/AAQuants/join
{ Join Now }
> >
<------------------------------> Join Now &
RECEIVE a " FREE "
> 2
> > Week trial of the WALL
STREET JOURNAL , complements of the
> President
> > of
the Wall Street Journal !! Join Then go to Messages & Click on
> the
> > Wall Street Journal Offer ~ Bill ~
> >
>
_________________________________________________________________________
_
>
> >
>
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$
>
> >
>
_________________________________________________________________________
_
>
>
> > Do you Yahoo!?
> > Yahoo! Mail
> >
>
<http://us.rd.yahoo.com/mail_us/taglines/security/*http://promotions.yaho
o.com/new_mail/static/protection.html>
>
> > - You care about security. So do we.
> >
*Yahoo! Groups Links*
> >
> > * To
visit your group on the web, go to:
>
> http://groups.yahoo.com/group/Metastockusers/
>
>
>
> * To unsubscribe from this group, send an email
to:
> >
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>
>
>
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>
>
>
> * Your use of Yahoo! Groups is subject to the
Yahoo! Terms of
> > Service
<http://docs.yahoo.com/info/terms/>.
>
>
> >
>
> --
> The majority meet with failure
because of their lack of persistence
> in creating new plans to take
the place of those which fail.
>
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 6
> Date: Mon, 10 Jan 2005 06:31:01 -0800
(PST)
> From: Bill Kearney
<bill_k35_2000@xxxxxxxxx>
> Subject: ***** My Picks For Monday
01/10/2005 *****
>
> Time: 8:50 Am E.S.T. Remember that the Picks
are a Watch List List
> of Stocks. By that I mean Only enter after the
Trend is Confirmed.
> Again Wait to at Least : 10:00 AM, EST before
entering any trades,
> this helps clear out any Market Makers that have
been painting the
> Tape. Next As Always use Trailing Stop Loss
Orders for added
> protection, since Day Trading & Swing Trading
are RISKY. Use Your
> Level-2 Screen to Watch MM's & Order
Flow especially pay attention
> to the Spread between the Bid &
Asked Price. NOTE: Watch The Level-2
> Screen Carefully & Exit the
Trade once profitable if the Tide Turns.
> & Stick with your Stop
Loss if the Trade goes against you. *****
> Longs : CMCSA, PRT,
JOE, PPC, GT, SBUX, ERICY, FON, SNUS, WIZD.ob
> ///
***** Swing Trades : KLAC, RFMD, ELBO, WWCA, EK, SIRI.
///
> ***** Shorts : GM, F, VZ, T.
/// ***** Remember : To Exit at or
> prior to 2:00 Pm. This is
Because 2:00 PM EST Tends to be Close to
> the High of the Day for
Longs & the Low of The Day For
> Shorts. & the
Reason I added Prior is So that You Know TO WATCH
> YOUR LEVEL-2 Screen
& Exit if the Tide Shifts between Buyers &
> Sellers. The
10:00 & 2:00 Rule are like the Drivers Safety Rule,
> Hands on the
Wheel at 10:00 & 2:00 For Maximum Safety. This applies
> to the
Market as well. When operating your trades Do not Enter before
> 10:00
am & Exit BY 2:00 Pm. Now there are times once you are
> advanced
you can break the 2:00 Pm Rule. But Not Now. ** NOTE : DAY
>
TRADING & SWING ARE PRONE TO MORE RISK ! Remember INVESTING INVOLVES
> Risk Never Invest/Trade Any More Than You Can Afford to Lose.
**
> Know your Financial Goals Decide if Day trading is right for
a
> portion of your portfolio or not. DO YOUR OWN RESEARCH.
Understand
> Your Risk Tolerance, Time Horizon for Financial
Objectives.
> Understand the Tax Bracket you are in & the TAX
Situation that you
> may have with Active Trading in a Non Qualified
Account. ** PICKS
> Are For EXPERIENCED TRADERS ONLY. ** Picks
are for Paper Trading :
> Entertainment Purposes.
BOOKS On Level 2 Screen Reading : The
> Electronic Day
Trader, Authors : Marc Friedfertig & George West. Mc
> Graw
Hill Publisher. // How To Get Started in Electronic Day
>
Trading. Author : David Nassar. Publisher: Mc Graw Hill. : // The
> NASDAQ Traders Tool Kit. Author : M. Rogan LaBIER.
Publisher
> :Wiley . // Also Web Link : Tools-of-the Trade.com :
All of the
> Books Listed are Highly Recommended Reading By Most
Trading Sites,
> Next They are on Sale at Most on-line book stores for
: $1.00 Each.
> Now Thats Cheap. Read them & Expand your
Horizon. ***** Take Care
> & May You Have A Prosperous Day
! ***** ~ Bill
~ Link :
> http://www.groups.yahoo.com/group/AAQuants/join
** Join Now & Be
> On Your Way To becoming More Market Savvy Today
! **************
>
>
_________________________________________________________________________
____
>
>
_________________________________________________________________________
____
>
>
>
>
>
>
>
>
>
>
>
>
>
>
__________________________________________________
> Do You
Yahoo!?
> Tired of spam? Yahoo! Mail has the best spam protection
around
> http://mail.yahoo.com
>
> [This message contained attachments]
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 7
> Date: Mon, 10 Jan 2005 14:46:06
-0000
> From: "jim"
<jimk_30045@xxxxxxxxx>
> Subject: Re: AMA - Kaufmann or Equis
version...Opt...
>
>
> Thank you Jack..appreciate
it....
>
>
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 8
> Date: Mon, 10 Jan 2005 17:41:36
-0000
> From: "Senthil Murugan.S"
<senthilmurugan_2000@xxxxxxxxx>
> Subject: 2 Decimal
units..
>
>
> The Price should be displayed in 2 decimal
units instead of the 4
> decimals. For eg)30.05 is displayed as
30.0500 But dont want the
>
> last 2
'00' :) changing the Decimal option confuses. The price
> changes to '30.^2' or something like that not readable :( What
> should be done ?
>
>
>
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 9
> Date: Mon, 10 Jan 2005 23:57:40
-0000
> From: "duvanws"
<duvanws@xxxxxxxxx>
> Subject: Hi everyone! I am looking for some
good real estate
> partners
>
>
> NouveauRich is
the world largest real estate investment and the
> world's premier
providers of comprehensive tools, education, and
> opportunity in
today's hottest investment market – Real Estate. We
>
>
will help you to buy houses nationwide or worldwide with ZERO down.
>
> If you any interest or know anyone please send this infor to
them.
>
> http://www.inwiththenew.com/wizefortune/
>
>
>
> Thanks
>
> Duvan
>
>
>
>
>
>
>
>
________________________________________________________________________
>
________________________________________________________________________
>
> Message: 10
> Date: Mon, 10 Jan 2005 17:08:07
-0700
> From: "Bill Beaman"
<bbeaman@xxxxxxxxxxxxxxxxx>
> Subject: Re: Hi everyone! I am
looking for some good real estate
> partners
>
> Has this
become a site just for spammers? Where are all the true
>
Metastock folks? Thanks
> Bill Beaman
> -----
Original Message -----
> From: duvanws
>
To: Metastockusers@xxxxxxxxxxxxxxx
> Sent: Monday, January
10, 2005 4:57 PM
> Subject: [Metastockusers] Hi everyone! I
am looking for some good
> real estate partners
>
>
>
> NouveauRich is the world largest real estate
investment and the
> world's premier providers of
comprehensive tools, education, and
> opportunity in
today's hottest investment market - Real Estate.
> We
> will help you to buy houses nationwide or worldwide with
ZERO
> down.
> If you any interest or know
anyone please send this infor to
> them.
>
>
http://www.inwiththenew.com/wizefortune/
>
>
>
> Thanks
>
>
Duvan
>
>
>
>
>
>
>
>
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>
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Metastockusers-unsubscribe@xxxxxxxxxxxxxxx
>
> c.. Your use of Yahoo! Groups is subject to
the Yahoo! Terms of
> Service.
>
>
>
>
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>
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>
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>
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