|
PureBytes Links
Trading Reference Links
|
> Wrong! The Trouble with Technicians
Well, right there he's got a point...
Most technical traders I know who trade support and resistance levels
find evidence to support a belief, and then identify a price level that
identifies them as wrong. "I think the market is heading down, but if
we hit 9400 then I'm wrong and it's going up."
A technical trader is somebody who trades by numbers. Numbers determine
"right", and numbers determine "wrong". To me, the only major problem
is with folks who don't start out with an initial premise, e.g. "If we
lose 500 points, then that was a bear move, but if the market goes up we
should be long." Longer e.g.:
http://www.defendercapital.com/Futures/Mine/mine_copper.html
But if somebody says, "We're headed down from here, and if we get to X
then I'm wrong"... that's just an assessment and a decision.
Cramer is very loud, and he has a shiny head; I'll give you that. I,
too, aspire to be so loud, and though my head does not gleam I am
fascinated by shiny things. But I'm not overwhelmed by the things that
I hear him say.
Sticks
--
Troutman, Defender of Sticks troutman@xxxxxxxxxxxxxxxxxxx
(aka) http://www.defendercapital.com/
Jonathan Matte, President No banner ads, no cookies,
Defender Capital Management, Inc. no sekrit sniffers!
Introducing Broker, Commodity Trading Advisor
|