Day trading in Canada Message Board

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Gold/Mining/Energy : Day trading in Canada

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To: keith massey who wrote (3414)	6/19/1999 6:17:00 PM
From: keith massey	Read Replies (1) of 4467

A private message I just wrote to someone but I thought I would throw it up here..... Like yourself I have test 100's (probably 1000's of stocks) with every math indicator know to man and a bunch written by myself. The conclusion I came up with is that most of them fail in a large percentage of cases (big surprise). If a stock is in a trading range the oscillators work amazing and during the trending phase...well you know the answer. However by the time I can figure out if a stock is trending or ranging the bloody thing usually changes style on me. I have tried all the standard approaches (R2/slope, ADX, etc.) to figure out the ranging/trending issue but they all have so much lag in they often only catch the move at the top when it is too late or the risk/reward is not worth the trade. I do think with buying and proper stop loss techniques and strategies you can trade profitably off these math indicators but I have come to the opinion that they really aren't the most profitable way to go. I have become mostly a pattern type of guy... I still follow all the math indicators because a lot of other people follow them and they often become self fulfilling prophecies. However I use candlesticks, support and resistance (from Fib., EMA/SMA, and stand volume approach), and all the old time standards (triangle, bear/bull flags, head and shoulders) as the corner stone of my trading. I have found this method of trading is more of an art form but is far more profitable than the standard TA math approach. Best Regards KEITH

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