PureBytes Links
Trading Reference Links
|
On Thu, 11 Jul 2002 09:58:36 -0500, "Hill, Ernie"
<ernie.hill@xxxxxxxxxx> wrote:
> I still
>take exception with the claim of 90% accuracy
I don't believe it was Clyde Lee that claimed 90% accuracy. Clyde is
using a portion of the Hurst method that Hurst called Edge-Band. The
90% accuracy comes from page 22 of Hurst's book. He uses 90% as a
goal that he expects to approach in the percent of successful trades,
not any particular portion of his approach. When Hurst did his
testing he actually used another related method which he called
Mid-Band which requires more work than Edge-Band.
Even so, Hurst was very specific in using calendar days not market
days for his testing. He did not test intra day edge-band timing.
This does NOT mean that it won't work, just that it was not tested.
In fact another method Hurst uses, price projections from Future Lines
of Demarcation (FLD) does seem to work intra day and is discussed in
Chapter 7 "Using Cycles for Price Projections" of **New Thinking in
Technical Analysis**, Rick Bensignor, Editor, published in 2000. In
this chapter explanation is given on translating market hours to
calendar days in order to be consistant with Hurst's approach. I have
no connection with the book.
Fred
"Success is the only test of genius" -R.Adm Daniel Gallery 1901-1977
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Free $5 Love Reading
Risk Free!
http://us.click.yahoo.com/TPvn8A/PfREAA/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/
|