|
PureBytes Links
Trading Reference Links
|
I can answer all these debating questions by saying, trading is an
art and Hurst cycle indicator is a powerfull tool if you know how to
use it. It ucovers geometric logic of the market for those who can
respond to logic. It gives you an idea for the trade and magnitude,
then you use other tools to nail it. So it gives right ideas 90% of
the time
This is just one tool, not a mechanical trading system. Not yet. I
didn't say it is.
If you refer to phisicality of the channel, you never understand
what's for.
By the way, there are two types of traders. One type are trading on
reversals, confirmations, break outs and other lagging indicators.
They kind of glued to the screens and jumping on orders like monkeys.
Another type trade on pure idea of the market. They buy and sell
before market reverse the direction.
If you are a monkey trader, you'll have real hard time understanding
other style. The only hope for you is to gradually evolve.
90% is possible as well as trading at tops and bottoms.
If some books say don't trade tops and bottoms, perhaps you are
reading wrong books. 90% of them are.
Greg.
P.S. Understanding things is an act of fortune. Good luck.
--- In realtraders@xxxx, Ira Tunik <irat@xxxx> wrote:
> I don't know what is going on with Yahoogroups, but I sent this out
at
> about 6:30 this morning and it never got posted. Here is the second
> try. Ira.
>
> I read all this ridicule of Hurst and his channels and wonder if
anyone
> actually bothered to read the book, do the homework, and study the
> results or if they just like
> to draw lines and channels and postulate. He did not use the
channels
> to project price, he used tangential extensions off of offset moving
> averages to project price
> and time. So anyone who is using the channels to project price or
> direction is going to be in a lot of trouble. You don't need a
formula
> to draw the channels, you
> can get the same effect with a series of straight lines connecting
the
> lows and parallels for the highs. It is not the lines, the
extensions,
> or the ability to count that will
> make Hurst's system work for you, it is understanding what he is
trying
> to prove and how it works and what its limitations are. If I am not
> mistaken, and I would
> have to go back to the book to confirm this, that time impacts price
> less then 30% of the time. That leaves you over 70% of the time
blowing
> in the wind. It is the
> understanding of what is being used and its limitations and
advantages
> that will help you in your trading and not guess work based upon
what
> someone else says it is
> supposed to do. So if you believe that understanding times
function in
> price action will help your trading by the book and study it. Try
to
> understand what he has
> written not just read the words and look at the charts. Ira.
>
> Adrian Pitt wrote:
>
> Metatrader,Can you please define what you mean by 90% accurate.
> Please don't quote about past prices because every graph of Clyde's
work
> from
> www.theswingmachine.com (as you have shown us...) are all curved
> fitted and rightly so..that's what Hurst bands do. So the only
relevant
> statistic here is how accurate
> they are into the future. So you would have to do extensive walk
> forward testing. I'm assuming you have bought Clydes work and done
this
> extensive testing to derive
> your 90% figure?? Assuming you have, I would love to hear a little
> more detail. Regards,Adrian Pitt
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Kwick Pick opens locked car doors,
front doors, drawers, briefcases,
padlocks, and more. On sale now!
http://us.click.yahoo.com/ehaLqB/Fg5DAA/Ey.GAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|