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I don't mind continuing to post trading examples from time to time (assuming
that others join me in doing so) but it would take an entire course to
explain the techniques. Much of it is pretty obvious from looking at the
lines and patterns. My opinion is that no serious trader should be without
the Edwards & Magee tomb, Technical Analysis of the Stock Market. First
published over 50 years ago, the book is now in its 6th edition and is
widely considered the definitive book on price and pattern analysis. No
indicators and no holy grails in this book, which preceded computers, just
solid info which can make the serious trader tons of money in return for
around $50 and several hundred hours of study.
Earl
-----Original Message-----
From: JBryant445@xxxxxxx <JBryant445@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, February 08, 1999 11:10 AM
Subject: Re: The Leading Edge
>Earl
>
>Your response to Bill is a great post. One that I can really relate to.
>There are many reasons for that: I am familiar with the S&P's; I am not
>comfortable buying the breakouts or selling the breakdowns; I can never get
>comfortable with black box systems; oscillators are always too late and
prone
>to whipsaws; I am absolutely certain that the pits run the stops; and I
>believe that studying the price action is the only way you are ever going
to
>get even an inkling of what the market is trying to do.
>
>In looking back through my 5 and 30-minute S&P charts I can see triangles
all
>over the place. But I don't know if I am drawing them right and I can't
seem
>to find a consistent way of interpreting or applying them. Would you be
>willing to share more about how you use them and how you interpret them?
>
>JT
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