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Strategies & Market Trends : TA Science Projects & Experimental Indicators
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To: ftth who wrote (51)1/30/1998 4:56:00 PM
From: ftth   of 237
 
[TA QUOTE OF THE DAY]
"Technicians are often tempted to use one set of indicators to confirm another. We may decide to use the moving average convergence/divergence (Macd) to confirm a signal in stochastics or use momentum readings to confirm moving average models. Logic tells us that this form of diversification of indicators will enhance results, but too often the confirming indicator is just the original trading indicator repackaged, each using a theory similar to the other to measure market behavior. It is not unlike taking two wind direction readings rather than reading the wind direction and barometric pressure to predict tomorrow's weather. Thus, the enhancement we sought through diversification results in loss, and we are left wondering why our indicators don't seem to perform much better. "

--Donald Dorsey
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