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At 11:53 AM 10/19/98 -0500, Timothy Morge wrote:
>Gabe:
>
<snip>
>
>I have news for all of the instructors that made these claims, and I'll
>relay it
>to you now. Just because you argue they don't work, does not mean they do not
>work. In my personal experience, they work. My work uses the oldest method of
>validation: My bank account. I've been a professional trader for nearly years
>now. I use trading tools that you might classify as useless.
<snip>
Tim:
I've stated before and will restate now that I have no doubt that there are
extremely successful discretionary traders. You may be one of them. All of
the successful discretionary traders that I know admit that when they use
indicators, they discriminate as to when the indicator is valid and when it
is not.
When I disparage "Gambler Indicators," it is precisely because they are
losing indicators when followed blindly. Successful traders are providing
the missing ingredients, and usually aren't aware of exactly how they're
doing that. My thesis is that indicators DO work, but they're smarter, more
sophisticated indicators that are able to assimilate more information and
discriminate in the manner of successful discretionary traders.
Allan
"Wealth is well known to be a great comforter." - Plato
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