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Gang -- Kent Calhoun's material seems to deal more with price action --
that of a single bar or a cluster of them. Not the easiest stuff in the
world to learn, but then it may put the trader closer to the right edge of
the chart than anything else. Check it out: he has an introductory video
available, and is probably on the Web somewhere. The full course costs
many $$$$$, and his interpretations are Tradestation-programmable.
With best regards,
Colin Johnston
At 09:58 AM 4/5/98 +0100, Bill Eykyn wrote:
>Earl and other Newbies on RT
>
>
>I have picked up three sentences of your post, Earl, which sum up completely
>the route that most successful daytraders have had to take, to get there:
>
>
>1. I've wandered the landscape of TA beginning with indicators.
>
>2. Over the years I've moved from formula based trading sytems to
>simple pivots, trend
> lines, and channels.
>
>3. This may provide an edge to those who use them.
>
>Anyone new to trading could save themselves a lot of heartache and
>walletache if they realized that there is no indicator which is going to
>tell them what the next bar, on the leading edge where you put your money on
>the trade, is going to do. The indicators and programs you can buy are
>based on price and, since price has happened, the indicators cannot tell you
>what is happening next. They will, certainly, tell you everything if you
>look over your shoulder, but precious little when you peer ahead with hope
>in your heart and your hand on on the telephone.
>
>What you can learn from the market is that it will stall, pause or otherwise
>hesitate at support and resistance levels. The price and the manner in
>which the bars form at the leading edge will give you the best indication as
>to whether the market will, following such antics, advance or decline - or
>go sideways!
>
-----
Colin C. Johnston
e-mail: colinjhn@xxxxxxxxxxxx
Carpe Diem ...
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