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Strategies & Market Trends : Technical Analysis - Beginners
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To: DDS-OMS who wrote (4257)4/17/1997 2:39:00 PM
From: David R. Evans   of 12039
 
Hello Gary, We agree on most of what you posted.... I would also say to NEVER short a stock in an upward move and never long a stock in a downward move. While I agree with you that most experienced traders do not follow a mechanical system I WOULD NEVER tell a newbe not to. WHY? Until a person can develop the will power to follow a system TOTALLY they will not develop the will power to make critical decisions without emotion. NO indicator or system is perfect... What you look at is percentages... If I can get 6 out of 8 or 7 out of 8 I can make money. If I can't get these kind of numbers I would try a different system. The problem I have with subjects like Stock Attack and the like is people are too quick to throw up indicators and systems WITHOUT KNOWING if they are any good or not... Maybe it worked on one or two stocks BUT how does it work on a few hundred or so. How will it work when the market turns on you??? Before we throw up systems and indicators we should have SYSTEM TESTED the heck out of it.... We must realize that there are people out there putting REAL MONEY on the line based on what they read on these Boards... As far as the StochRSI (14) & StochRSI (8-5) cross, I'll take a look at it today and let you know how it looks.... Please note that this reply is not directed at anyone in particular. I just needed to voice a concern I've had for the last few weeks as I've noticed things develop on the Boards... Dave Evans
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