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Chris says:
completed. I spent a lot of time thinking about the concept after I
got burned last year (right after I got that book) when I did't take
a currency trade solely because it hadn't been long enough. My hope
One of the primary reasons why I wrote the SwingMachine program
is because of the same problem.
What SM does is to go back through all the data that is loaded for
a given symbol and picks the turning points and records the amount
of time and price movement in any leg. This is recorded as a function
of the SwingPattern that exists at the time this was measured.
Then, at the end of the chart SM plots a series of lines which
represents
the length of time and amount of price movement that has been observed
from all comparable market positions in the past.
SM is nothing more than an automation of what you can do by simply
drawing lines on each swing leg and then moving those lines to the
end of the chart. Actually, doing this by hand gives you an even
greater
feel for what to expect rather than using someting like my SwingMachine
software.
HOWEVER YOU DO IT -- DO IT -- DON'T GUESS -- MEASURE THE
BEHAVIOR OF THE MARKET AND USE THAT AS A GUIDE.
Clyde
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Clyde Lee Chairman/CEO (Home of SwingMachine)
SYTECH Corporation email: clydelee@xxxxxxxxxxxx
7910 Westglen, Suite 105 Office: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
Details at: www.theswingmachine.com
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----- Original Message -----
From: chrischeatham@xxxxxxxxx
To: realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, April 22, 2001 23:10
Subject: Re: [RT] NASDAQ Rhythm
Lenny, Sorry if I was not clear. I was not addressing at all your
analysis -- but the general concept of minimum times for waves to be
completed. I spent a lot of time thinking about the concept after I
got burned last year (right after I got that book) when I did't take
a currency trade solely because it hadn't been long enough. My hope
was that what I learned from my blunder might be of help to others.
Chris
--- In realtraders@xxxx, rosow@xxxx wrote:
> In a message dated 4/22/2001 9:20:07 PM Eastern Daylight Time,
> chrischeatham@xxxx writes:
>
>
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