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RT:
I am talking about Bill Williams materail. I have used it over 6 months
now. I play with my Meta-Stock trying to devise methods and ideas, but Bill
is what I trade.
His Awesome Oscillator is nothing more then MACD (5-34-5) his alligator is a
smoothed averages(if you have meta-stock I can give you a site that has the
formulas), I use exponential moving average(5-8-13). In his book sometimes
he uses different words because the indicator is slightly different, but
they act so closely the same it really makes no difference. One other
indicator he uses you can hand calculate, but most of the time you can just
see it. But it requires volume for the day and price range. If you day
trade you would need volume intraday for that indicator. I swing trade and
do not. This is not required to trade the rest of the system but it helps.
The system is built around Elliott Waves and just a glance at the chart and
you can tell where you are on your waves right now. I know to some, even
like me, that they were hard to see or understand. Not with his MACD
definitions they are a cinch.
What helped me to be a better trader or become a trader. First Bill
Williams book "Trading Chaos" the mental section. Probably can find the
materail he has there at lots of places, but that is where I found it.
Secondly, his trading system, I never second guess it, even when it is
opposite of everything I am told and I use it purely mechanicly.
Now for those that decide to read or try his trading, I would like to hear
about it. It has been my and my friends Holy Grail, but then maybe it was
just me. They have used it alot long then I about 9 months. Let me say here
that I don't believe the last book as been out very long, maybe a year at
tops or two at tops.
I am very sorry to here that Bill has been more or less stealing this from
other people, so I guess he is getting the same in return when my friends,
even tho I do not approve and wouldn't do it myself, they downloaded his
software and hacked it for use from a hackers site. Don't ask me, I will not
encourage this behavior by giving sites or names.
This is the site for those that have Meta-Stock and you can copy the
indicators to a tee.
http://www.nt-tech.com.au/guppy/gup91.htm, (also a million other indicators
there)but like I said MACD(5-34-5)=Awesome Oscillator and the
Alligator=exponential moving averages(5-8-13) He has MFI, which requires
volume, and has another name also, do not know off the top of my head. If
you were to program the MFI it would act alot like the MACD. Of course he
explains fractals which is very inportant to his system.
I think this covers all the questions I was asked, but if I missed some, or
if you have some more, call again. I am in no way connected to any vendors
and have nothing to sell, which seems to be the most popular route in this
business.
One more, his first book is "Trading Chaos" and basic. Second is "New
Trading Dimensions" I recommend both, but "New Trading Dimensions" is the
one that tells how to trade the indicators and does go over some of the
first book again. My friends say it is the only one to buy. In different
places in the book he mentions his other services, software, home course,
and his personal course at his research center. I have used only the two
books and it is all it took for me.
Happy Trading
Charley
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