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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: wolfgangl who wrote (2504)8/14/1997 6:30:00 PM
From: TechTrader42   of 3325
 
I wonder about the usefulness of trying to predict the market, unless you have a great deal of experience. HB and Richard seem to be best at it. But from others, you get all sorts of opinions, all sorts of support and resistance levels, all sorts of Gann and trend lines pointing every which way, and all sorts of systems and scenarios. And usually, the views expressed with the most certainty are the least reliable.

I've tested every moving average under the sun, it seems, and every variation of MACD, but if you use them systematically, they don't test well with market indices. David Coburn seems to be right in saying they have to be used with discretion. But that gets back to experience.

Newbies such as myself can't just plug in a certain MACD and see it going under the trigger line and assume the market's heading down.And even if it does head down, I'm sure I couldn't say when to get back in.
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