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At 22:36 -0700 10 13 98, Trade Jack wrote:
>"In our regular talks with other traders, we have found that more of
>them use momentum than almost any other tool, except perhaps moving
>averages. Momentum isn't always used as their primary study, but the
>traders monitor it closely and use it with other technical studies to
>arrive at more timely trading decisions. Among the many reasons for
>the popularity of momentum are its simplicity, its versatility, and
>the fact that it is considered to be a rare "lead indicator." Rather
>than merely reacting to the direction of prices, momentum can change
>directions before prices change direction. Very few technical studies
>can provide a trader with this valuable lead factor."
>
>from "Technical Traders Guide To Computer Analysis Of The Futures
>Market" by Charles LeBeau and David W. Lucas, 1992, p. 77.
>
>could of written the above myself. in fact, i did tonight.
>
>TJ
>
>welcome to the asylum, mate
>
>
>---CRLeBeau@xxxxxxx wrote:
>Of course indicators lag. They are derivatives of price. You want a
>lead indicator then go buy a crystal ball for Pete's sake.
This is a perfect example of an option strategy: sell the suckers(like me)
a book, that expired yesterday and buy a dream of a crystall ball. Should
do better in politics in the age of Viagra.
The more of them use, the more of them loose.
You, guys, create Gulag for yourselves, which proves that we deal more with
psychology, than anything else. Quite a warm and jolly barrack we got
ourselves here.
"Miracle, Mystery, Authority". F.M. Dostoyevsky.
Gann, probably, read more books, so he got the message faster and applied
it better than those two gentlemen quoted above.
Hehe, you made my day, really.
Life is a judgement call, so is trading, there are as many leading
indicators in trading as there are in life.
Good night, my lieben kind kinder.
Yuri K
Vancouver, WA
Festina lente
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