My experience with technical indicators, has shown me it's usually best to be flexible. I like to have 3-4 different indicators confirming each other prior to making a move. Yes, I've missed some opportunities, but I've avoided a lot of mistakes too. My results have been more "consistent" than in years passed.
In my opinion, consistency is something that can be improved on. If results are inconsistent, we experience more stress, less confidence and we continue to beat our heads against the wall.
I haven't had a Rolaid in months! <ggg> I used to buy the giant economy size, different flavors too, to break up the monotony.
Using 3-4 indicators to confirm a move has made a world of difference in my portfolio. I avoid models because models are inconsistent. When they are right, they are really right. When they are wrong, well we know what happens then. Different indicators work in different market conditions, by being flexible, we can hopefully gain from the "indicators of the day," before market conditions change.
I have 5-6 different chart and indicator scenarios set up, each focusing on different technical criteria. When I'm interested in a stock, I check the various charts to get more of a three dimensional view of the price action. This has helped me to get in early on a price movement, without most of the risk.
Our expectations need to work like Bollinger Bands. We need to know when to expand our expectations and when to contract them. We do this by assimilating the "condition of the market" into our analysis.
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