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Timothy Morge wrote:
> I appreciate your opinion. But I don't share your view. I do make my
> living trading, and I have made my living trading for 18 years. I
> believe certain things work in the market and will continue to work in
> the market. That doesn't mean other things don't work, or won't work,
> it simply means that while it's sometimes interesting for me to see
> what other people look at in the markets, I am quite content with my
> approaches. They have stood the test of time for me. I don't actually
> want arm myself with the tools that most people in the markets trade
> with. I want to arm myself with the tools that work best for me.
I agree with that for the most part. Still - I think it's best for amateurs like me
to have some idea of what the herd is thinking - lest I be trampled by the elephants.
> One reason I didn't know about the regression channel you spoke about
> is simply that I don't use my computer screens in the same fashion
> that most traders these days probably use them. I mainly use my
> screens for quotes or for quick screenings of price action. For more
> detailed analysis, I tend to rely on my eyes, my mind and the 'feel'
> my hand charting gives them. I know it sounds archaic, but as I have
> said before, to each their own.
I don't think hand charting is archaic at all. I used to do it myself. OTOH - I'm
not great at drawing - so I appreciate being able to use a computer like an
"etch-a-sketch". I think if you work with some of the drawing tools available on
computers now - you might find that you enjoy using them.
> But again, I thank you for your information about the charting
> functions, and more importantly, thank you for sharing what you use. I
> actually am quite an active bond and ten year trader and I am sure
> there are lots of traders reading this list that would like to know
> what a successful professional trader in the bond market uses for
> shorter term day trading. You have given them a good start to their
> search for their own tools. Are there other tools that you look at in
> your trading decisions that would care to share with us?
I'm not an active bond trader at all - but I do trade zeros and invest in bonds. One
of the more useful indicators I've found with bonds (works better with bonds than
most other securities) is the time series forecast oscillator. What it does -
basically - is it draws a least squares regression line (kind of a trend line)
through n periods of data - and the oscillator goes up or down when the price action
deviates from the expected course of the line. I use time periods like 95 days - or
195 days - not exactly day trading time frames - but perhaps it's useful with shorter
periods of time.
Anyway - if you want to take a look - set up a user function
TSF=LinearRegValue(Price,Length,Forecast) - and then the indicator is
Close-TSF(Close,Length,-1). You can use values other than -1 - but a -1 conforms the
indicator to the canned indicator in Metastock. Robyn
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