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On Monday, April 15, 2002, 2:50:39 PM, Ira Tunik wrote:
IT> No matter what system you use you need a high and a low. Their
IT> selection is totally discretionary.
Nothing wrong with that. Computers are good at finding highs and lows
- the question is *which* ones to use. It seems likely that
discretionary traders still use *some* thought process in selecting
pivots. If the computer can be taught this process, it might be able
to come up with some quantitative analyses of what is likely.
Many years ago, programmers tried to find out what doctors do when
diagnosing a patient. It was very hard to find out what doctors
*really* do, but with much communication and patience, a program was
built that did about as well as a good doctor.
The surprise was that the doctors, *after* this process, had a *much*
better understanding of what they really did, in a form that was less
'intuitive', and thus subject to improvement in ways that were not
possible before. The docs benefited quite a lot.
ztrader
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