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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: Richard Estes who wrote (731)4/21/1997 12:04:00 PM
From: Liam Kingsmill   of 3325
 
So, I hope the dicussions on systems will wake up the instant experts.

Allow me to offer up my head-on-stick as an example to your cautions.

For a decade I've played with an oscillator approach that I did not understand, but it has signalled long-term tops and bottoms quite well. In a moment of self-inspired brilliance I applied it to a precious metal market and kissed the price of a nice new car off. If only I'd spent that few hours testing my inspiration....

But, it was also a double-fault: no exit deliniated as the "system" did not supply an exact point to sell.

The race track pavement is littered with systems and tout sheets. Years ago friend and pathological gambler Dan Simons wrote a daily gossip column for the Racing Form. For two weeks he filled in for the paper's regular handicapper by writing three of the five columns the regular writer wrote under different names. By writing as several different experts and naming all the likely horses he could not help but have at least one winner in most races.

Doing the same job on ourselves requires only a good mind, money, a moment of altered perception, denial of the scientific method we learned in high school and a telephone.

All of us are clever enough to do it to ourselves.
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