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RT'ers,
This morning I sent the below message, it has now been 6 hours and I do
not believe it has been returned through the RT'ers system. Therefore, I
am sending it again.
Sorry for the dupe if you receive it twice.
John Boggio
+++++++++++++++++++++++++
Randy and other RT'ers,
Personally, I have met George Lane several times at past Dow Jones "TAG"
conferences. I too wondered if I should take his course (several years
ago) because I found his Stochastics Oscillator a very interesting and
possibly useful tool, in trading. This conclusion IS BASED ON LANE'S
INTERPRETATIONS OF ITS EFFECTIVE USEFULNESS while I attended one of the 2
hour seminars at the conference.
Essentially, since it is an oscillator, many of the traditional
explanations/interpretations claim that is is only useful in a 'trading
range' market. However, Lane explains that this oscillator is actually
extremely useful in a 'trending' market. Yes, TRENDING. Essentially, as
the stochastics oscillator becomes overbought, it can stay overbought or
oversold for an extended period of time. It is at these times where you
will begin to see that the market that you are following is now breaking
out of it trading range and is now entering a trend. Personally, I often
take a closer look at such markets with this new 'strength', and trade it
accordingly. Finally, Lane goes on to explain that he looks for
divergences in his oscillator (once it is overbot or oversold), to help
determine when the trend has moved too far too fast, and that a replacement
should be expected. With that said, it is important to remember that the
market that you have now just followed is TRENDING and may offer excellent
opportunities for entering positions, particularly if you like to trade
'trending' as opposed to 'trading range' markets.
Further, would I take the course, NO. I got all of this from his 2 hour
'talk' at the conference and then read his book. Oh, did I forget to say,
" this oscillator is one of my favorites".
Hope this helps,
John Boggio
At 01:09 AM 3/26/98 -0500, you wrote:
>To all responding RT's
>
>Thanks to the many responders I just saved $3000.
>
>What a downer. I thought I found someone to hold my
>hand for a week and show me the ropes of futures trading.
>Which leaves me to ask the next question:
>
>Where CAN I get good professional instruction that will
>pull me over this mountain?
>
>I've read so many books I'm cross-eyed. I've studied
>so many charts I see them in my dreams. And
>even though I know TA inside out ... I'm still a
>mediocre trader (g).
>
>Please don't tell me I'm probably not geared to be a trader.
>It is too important to me. In spite of my mediocre success...
>I enjoy the challange of becoming a good trader and will
>not quit until I am good enough to trade for a living.
>
>With that in mind ...do any of you day traders and/or Pro's
>have a recomendation? Can you suggest someone who
>can take me where I want to go?
>
>I'm to the point where I want to spend the money on
>personal instruction instead of loosing it making bad decisions
>that could have been avoided with proper instruction. I'm
>a believer in gathering information from those who have
>been there done that.
>
>You know t he old saying " give a man food ...feed him for a day.
>Teach him how to plant ... feed him forever".
>
>Just point me and I'll do the rest.
>
>
>from Petersburg, MI
>Randy
>
>
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