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I really can't belive this message that was posted last night. All I wanted to do is try to give a trading idea to the rest of the group. I took my valuable time to post these charts so we all could learn some thing. You can call the forks whatever you want. I am just getting sick of getting so many post that only complain about system vendors and bad data. I came onto this group to learn how to be a better trader, not to complain about some guy that is posting a tool that may help someone trade. Instead of complaining why don't we all start posting things that may help our fellow RealTraders to trade.
Well, now I sound like the people I am complaining about. If anyone still wants to see The "SATAN'S FORKS" or "ANDREWS FORKS" FOR FREE could you please post yes or no to the group. I will stop posting these charts if you want me to.
Thanks for your time. We all have better things to do with our lives than read lots of messages like this.
Rob
At 05:53 PM 4/2/98 -0600, you wrote: >>>> I always find it amusing when an old original technical study is renamed. The posts on 'Satan's Pitchfork' are the latest example. The technique was pioneered by Dr. Alan Hall Andrews through the 'Foundation for Economic Stabilization'. Dr. Andrews made millions in the market using this technique. He made his first million in his first three years of trading. (That was 70 years ago.....real money) Dr. Andrews was a graduate of Harvard and MIT, and he taught his methods in his 60 page 'Action-Reaction Course'. He charged up to $5,000.00 for the course over 60 years ago! He also published weekly course updates that showed new ways of applying the technique. Needless to say, many of the applications of the technique are not used today. The 'Pitchfork' or 'Median Lines' are only a fraction of the course. By the way, his newsletter typically showed a paper profit of over 100% per month on margin required. These studies also relate and tie in with the work of Roger Babson the founder of 'Security Research Charts' and the 'Babson Business College'. When Mr. Babson used his forecasting techniques to predict the crash of 1929 he was ostracized by the investment community.
My point is this. When someone makes a major contribution to the field of technical analysis, let's at least give them credit. To my knowledge Satan did not contribute to Mr. Andrews work. Of course, we could rename all of the classic indicators. I have lately started using the Cattani Wave Theory, FiboCattani numbers, and Cattani Angles and Fans.......anyway friends, that's my view, and now back to work. A great evening to all. Denis Cattani
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