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Hi Allan,
As a trader who relies heavilly on combinations of pattern
testing and market psychology, I spent some time looking
at DeMark's stuff.
Rule number one in statistical pattern testing is that
you *can not* create exceptions to the pattern. The
pattern either works in the given market or not. This
is what I did not like about DeMark's stuff. Pattern
doesn't work? Make an exception to the rule....
With each exception, the pattern loses value in
practicality and statistical reality. (IMO)
Walt Downs
CIS Trading
Allan Kaminsky wrote:
>
> At 11:49 AM 10/27/98 -0500, Brad Rylander wrote:
> >Last night I spent 3 or 4 hours with Tom DeMark's "The New Science of
> >Technical Anaylsis." This was either not enough time or *way* too much.
> >
> >I was left with the impression that I had discovered an entertaining
> >although expensive sales brochure for $2000 worth of his indicators. I
> >hope I'm wrong because the book seems to have some meat to it.
> >
> >Any opinions on this book? How about the indicators themselves?
> >
> >Thanks for your attention.
> >
> >--
> >Brad
> >
>
> TD_Sales_Brochure
>
> TD_Worthless
>
> TD_IMHO
>
> Allan
>
> "The market is a place set apart where men may deceive each other" -
> Diogenes Laertius
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