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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Cube who wrote (36821)9/4/2000 1:00:25 PM
From: Doug R  Read Replies (1) of 79382
 
Cube,

C'mon...just put up some symbols...try one for just 50%.

Any professional trader would be thrilled at being right 50% of the time BECAUSE they manage their trades.
One week, two weeks, 4 weeks...who cares? Plan the trade...trade the plan. If the plan calls for 45 mins...so what? If you're a busy trader starting with $20K and make 250% after taxes and commissions on over 200 trades in 6 months in a difficult period in the market...you can take a couple months off.
You're throwing around some rather arbitrary dictates.
I also said to feel free and go back more than 30...go back 500.
And...no...the Actrade going to Zero (lol) thread has been expunged from SI. I didn't find the post I recall on pink's thread but there seems to be some "dumping" on what I do here...
"The settings you choose to use for periods being based on Fibonacci is meaningless when using indicators. Especially what Larry Williams and J. Welles Wilder call false confirmations. You can say that Stochastics, RSI, Money Flow, Moving Averages, and MACD are all rating an 8 on the 56 valuation method. You might think that this confirms something but it confirms nothing because all of the above indicators are based on price. All you've done is portray price 100 different ways. So whether you use Fibonacci numbers in your Stochastics, MACD or any other indicator settings, make them no more or less accurate than the inherent accuracy of any indicator to date. Which is at best 50%. And as we all know, 50% is untradeable."

I use the indicators you think can't be used in conjunction with chart analysis. It works...go back 1,000 stocks if you have to.

Doug R
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