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I know that you are trying to convince a group of people that you are right and
that your system is successful. Everyone that trades successfully has a system
of one type or another that suits their individual trading pattern, risk
parameters, and psychological disposition. To say that one indicator is better
or worse then another is not true. I have not found one indicator that didn't
work as it was originally intended. The problem is that many chart producers,
letter writers, gurus and professed geniuses standardize them and they no
longer work as they were intended.
I have traded the bonds with a great deal of success and one part of my system
includes an indicator. The bonds are unusual in one respect. They are very
predictive, and a high success rate is therefore more easily obtained then in
many other futures. One reason is that there is a large volume traded on a
daily basis as well a large size, usually, on either side of the market. That
helps maintain an orderly market. One also can see the fear and panic more
easily on announcement days.
Before degrading someone else's system, take into consideration the fact that
if everyone used your system, exactly the way you did, you would never be able
to make another trade. Someone would be there before you. Have a good day.
Ira.
T-Bondtrader wrote:
> 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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