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The Yen is almost ready for an explosive move!<x-html><!DOCTYPE HTML PUBLIC "-//IETF//DTD HTML//EN">
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<h2 align=center>8103JPY DEC97<br>
(8103) </h2>
<p align=center><img src="yen.jpg" align=bottom> </p>
<h3 align=center>Data for 10/07/97 </h3>
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<tr><td><font FACE="Arial"><font color="#000000">Exp Trend</font></font></td><td><font FACE="Arial"><font color="#000000">N/A</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">8103</font></font></td><td><font FACE="Arial"><font color="#000000">IndicatorName</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">Open</font></font></td><td><font FACE="Arial"><font color="#000000">0.828600</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">High</font></font></td><td><font FACE="Arial"><font color="#000000">0.829600</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">Low</font></font></td><td><font FACE="Arial"><font color="#000000">0.823600</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">Close</font></font></td><td><font FACE="Arial"><font color="#000000">0.823900</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">Volume</font></font></td><td><font FACE="Arial"><font color="#000000">7,605</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">Open Int.</font></font></td><td><font FACE="Arial"><font color="#000000">81,491</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">Price Chg.</font></font></td><td><font FACE="Arial"><font color="#000000">-0.00430</font></font> </td></tr><tr><td><font FACE="Arial"><font color="#000000">RSI</font></font></td><td><font FACE="Arial"><font color="#000000">33.8939</font></font> </td></tr>
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</x-html>From ???@??? Tue Dec 09 17:55:40 1997
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Date: Wed, 08 Oct 1997 22:50:20 -0500
Reply-To: Timothy H Lee <Timothy.H.Lee-1@xxxxxxxxxx>
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From: TL <Timothy.H.Lee-1@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Systems: some thoughts
References: <343C52D5.5FBC@xxxxxxxxxx>
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Status:
>
> Having been an avid reader of the many posts here on systems as well as
>
> a fulltime trader myself I have some questions and comments.
>
> Most everything one needs to begin system development, as well as a very
>
> good system appears in my favorite book "Market Wizards" .
>
> 1. Paul Tudor Jones--we have tested all the systems under the sun and
>
> found only one that works, it is "trend following" and based on a sudden
>
> range expansion, in a market that has been trading narrowly.
>
> Question: how can you test sudden range expansion, on TS, how would you
>
> program in "find a market trading narrowly", i.e.what would define a
>
> market that has been trading narrowly?
>
> 2. Here is a great system that every good trader will agree works- When
>
> the market does not react to the news the way it should go with that
>
> move strongly. Every "market wizard" followed this "system". How could
>
> that ever be checked with a TS type program? Or programmed as a system?
>
> 3. How is anyone who ever looks at a bar chart able realize that one
>
> day's action might have been more news driven than another. Or that a
>
> sudden rumor triggered a selloff that ended when the rumor was denied?
>
> How do you factor in news? Shouldn't all systems focus on the news as a
>
> primary indicator?
>
> 4. Professional traders seem focused on intraday data and divergences
>
> between indicators, how does one program in indicator divergence? They
>
> also use the confirmation of other related markets, how can that be
>
> system tested?
>
> The best traders I know synthesize information from a variety of
>
> sources.
>
> 5. Since moving averages are in the long run profitable is it just they
>
> are too boring for people to use or comment on? There is not a study
>
> out there that seems to suggest the longterm use of moving averages
>
> loses money. To quote Marty Schwatz "using moving averages works better
>
> than any other tool I have".
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