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Curtis Arnold in his book, PPS Trading System (PP = Pattern Profitability),
sets forth in considerable detail over a dozen patterns (wedges, triangles,
head and shoulders, rectangles, etc.) with profitability ratios and profit
ratio per trade together with his methodologies for testing. The material is
presented as an extension of the Edwards and McGee work which presented no
statistics and that is the light in which I read it. While I have
incorporated some of his work in my trading, I do not trade his methodology
so I can not attest to his work. Some consider Arnold to lack credibility to
some issues regarding the marketing of his systems (not the book).
Earl
----- Original Message -----
From: <H.Albizem@xxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, May 27, 2001 6:25 AM
Subject: [RT] Re: No evidence for lower NASDAQ yet
> Honestly I did not verified his statistics, I didn't think too much
> about his statistics because the way I use patterns it would not
> matter, it must be with agreement with other things otherwise
> considered invalid but for newbies it may matter and good that Tim
> has mentined it and if it crossed my mind that it could be wrong I
> would have said so.
>
> Anyway if Tim know what tools(software) the author used to generate
> his statistics we can go back and verify it. If anyone on this list
> know of good software to validate patterns or other things, please
> let me know. I am getting AI software next month but still don't know
> the limitation of it.
>
> Best regards,
>
> Haytham
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