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What's your time frame? I suspect it's a lot shorter than mine is (mine is
weeks ---> months) - and what works in my time frame may well be a disaster in
yours.
I just use news services for a few things - like computing EW stuff - and
getting an idea about what the commercials are doing (buying or selling). For
the most part - like you - I roll my own.
And I agree with your basic thesis - which is not adopting any strategy where
you're likely to get trampled by the institutional herd. Robyn
Tom Cathey wrote:
> Robyn:
>
> Actually, if I thought the majority of traders were using the same thing I
> was using for analysis, I'd drop it like a hot potato. It's a road to
> ruin. For example, if that were true, why doesn't everyone simply make an
> agreement from now on that they will all use a 20 day moving average and get
> the same signals all at once? You could clean house if you knew what
> everyone else used. The self full filling prophecy stuff works for short
> overreactions but then the users get banged hard.
>
> And, using a news service for their opinions of where they believe support
> and resistance is? Until you do your own thing and depend upon yourself,
> expect to be with the crowd...and you know what that means. Using news
> service people for trade recommendations is about like having a jail house
> lawyer defend you in court on a false murder charge.
>
> Tom Cathey
>
> -----------------------------------------------
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