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Despite my obvious bias towards the use of the "old indicators" as Brent
quite rightly calls them I must say that what Simon Trevor says is very
valid and hence why I was saying on my earlier post that those traders who
are using these averages and indicators and oscillators etc must remember
that they have to somehow come closer to the price by filtering the
indicators' signals with some 'basic' entry/exit tool preferably based on
the OHLC data.
Sorry to labour this point as I'm sure it's nothing new to most of you.
Regards,
Tom Nagle.
Tullett & Tokyo Forex International,
Cable House,
54-62 New Broad Street,
London EC2M 1JJ.
Tel: +44 171 827 3409
www.tullett.com
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From: Simon Trevor
To: RealTraders Discussion Group
Subject: Re: What are the basics?
Date: 18 March 1998 10:09
I don't agree that these are the basics. The basics consist of the price
itself. Formula's (indicators) such as the ones mentioned are only
derivatives from the price and hence cannot be relied upon as much as the
price itself. Just follow the price.
Regards
Simon Trevor
>>historically the only thing elliot wavers ever got was a chance to wave
>>goodbye to their money.
>>
>>
>
>I agree, MACD, RSI and Stochastics, plus EMA should do it. These make
>up the best leading indicators. I am unable to decide which one
>give an the earlist signal. May be it only works for us daytradesrs.
>
>Pete
>
>petena9090@xxxxxxxxxxxxxx
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