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I understand how indicators work all right. It is from understanding them
and seeing them in action on a day trading basis that makes me so strongly
against their application for day trading such a liquid market at the
T-Bonds.
I am sure if anyone wants to know how the Holy Grail works, they would do
better to read Chapter 10 The Holy Grail in "Street Smarts" pages 79 to 86.
Then they will get a proper and unbiased way of understanding what the
indicator is supposed to do and on what time frame. All the examples bar
one are on DAILY CHARTS. The next chapter on the ADX Gapper is also
exclusively on DAILY CHARTS. The 2-Period ROC also pushed by Bob Hunt in
his service is exclusively illustrated on DAILY CHARTS as indeed is the
Pinball Momentum wholly illustrated on DAILY CHARTS.
It would seem that most of the stuff that Bob Hunt lifts from this book is
based on what is recommended and illustrated by the authors for DAILY
CHARTS. However, all these indicators are being applied to DAY TRADING
THE T-BONDS and they are patently an unacceptable amount of time behind the
market. Seasoned traders on this forum will appreciate this, very quickly.
For people who have not got the book, they should realize that the vast,
vast majority of examples of how Linda Raschke's and Larry Connors's
indicators work are illustrated on DAILY CHARTS. It must be obvious why,
mustn't it? These sort of indicators work best on those sort of time
frames.
While I fully agree that this forum is "to freely share ideas", but when I
see totally inappropriate indicators being recommended by a vendor of a
service accumulated from this very forum, then I think the responsible
thing to do is to point this out. Very strongly. While seasoned traders
will appreciate the foolishness of using such things in day trading,
hopeful newbies could be lulled into a false sense of security - and as
they are a substantial section of this forum, they deserve to have the
alternative or balanced view.
Finally, when stating:
>But, please . . . dispense with the ludicrously obvious
>propagandizing
May I suggest that the title of the service you are selling, IN CAPITAL
LETTERS, at the end of your post is the sort of advertising that is not
allowed on RT. Email and website addresses are accepted, as helpful, and
everyone else on RT is careful not to overstep the mark with direct
advertising, so why not you?
Bill Eykyn
www.dbceuro.com/bille.htm
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