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This is somthing that I have felt strongly about for a long time. For a
while when I first started trading I got lost in the search for the holy
grail with all the different systems, methods and approaches. After all
what good is the system or method if you cant use it when it comes time to
enter a trade. I believe any system or method needs to be basic enough or
at least straight forward enough so that when it comes time to make a
decision its a no brainer. If at the time of entry, you are trying to
decipher whether or not its a good trade, then that particular method is no
good. Yes there is a little objectiveness that will go on. But for the
most part you should already know what you are looking for by the time the
signal arrives. I read somthing the other day about using just two or three
indicators at the most for your analysis anything more than that just
confuses you. So in reference to this sting of posts, I think there is a
lot of validity gann, fibonacci and all that wonderful stuff, but one must
think about the practical application also.
Troy
wallst@xxxxxxxx
----- Original Message -----
From: Dennis Holverstott <dennis@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, January 15, 2000 12:10 PM
Subject: [RT] Re: Of boxes, vectors, pivots and S/R lines
> I'll confess to being relatively ignorant about gann, elliot, fib, etc.
> Too subjective for my taste. I prefer a clearcut mathmatical formula
> that only has 3 possible outputs.... long, short, flat. And I'm
> particularly suspicious of any method that cloaks itself in mysticism
> and comes off sounding like a religious cult. But that's just me. If it
> works for you, more power to you.
>
> My impression is, if you draw enough lines on a chart, one of them HAS
> to be right after the fact. You can look back and say AHA - SEE, the
> price turned right at that line. The big problem is deciding which one
> of those hundreds of lines is the one to use before it's too late to
> trade it. You might say some of the lines are more important than
> others. If that's true, then why don't you just draw the important one
> and eliminate the other 99 from your chart? But, like I said, whatever
> floats your boat.
>
> Booleanly,
> Dennis
>
>
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