|
PureBytes Links
Trading Reference Links
|
This is meant to be a friendly rebuttal. I'm not advocating any
particular style of trading for any individual. I'm just hoping that we
can be open minded about the possible labor saving potential of
computers.
Bill wrote:
> Indicators are, so far as I am concerned, all those in the analysis
> techniques box in my Supercharts. I have collected over 100 in my time and
> they are all lagging and, for day trading purposes useless.
Well, if you only collect lagging indicators, I guess they will all lag.
Kinda like saying I have 100 screwdrivers in my tool box and I can't
drive a nail with any of them. :-)
Your gif says:
> Measuring the retracement and the timing of it is using a tool
> not an indicator.
Sorry, but that sounds like semantic quibbling to me. "If I use it, it's
a tool. If I don't it's an indicator." An indicator can be written to
measure any sort of retracement or timing without user intervention or
lag. Sure, you can draw the lines manually but the whole point of using
a computer is to make your life easier. An indicator is just an
automated tool.
> Price action is the market showing what it is doing, as it is doing it. If
> it forms a wedge it is telling what it is doing. What indicator can work as
> fast or as accurately as that? What? Tell me.
How about an indicator that spots a developing wedge, marks it on the
chart, and beeps to alert you in case you didn't happen to be looking at
the chart when it started to appear?
> I will use it. So would
> about 50 or so others on this list who trade in my like fashion.
Sorry, not for sale. However, such indicators are easy to code for
anyone with a copy of Tradestation, a little aptitude and an open mind.
--
Dennis
|