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Strategies & Market Trends : Classic TA Workplace
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To: Galirayo who wrote (137569)10/18/2006 8:45:00 AM
From: Moominoid  Read Replies (1) of 209892
 
My rule is to only pay attention to crossovers once the sto is above 80 or below 20. In the intermediate range I forecast the change in the sto. And when it is forecasted to decline I sell AH or BH or buy when it is forecasted to rise. I tested different rules for the overbought or oversold conditions. Not much difference between waiting for the sto to exit the zone or trading on a crossover. But even with your longer periods of MAs here we are getting lots of crossovers in the recent period and the sto below 80 BUT in fact the market remained overbought based on my derivative indicators in retrospect. It is OK if you can follow the market more or less full time and buy or sell as crossovers are about to happen in real time. My idea though in developing this system is to try to develop a system where I can still pay attention to my current job and just do trades at the end or beginning of the day based on forecasts. All the forecasting methods decline in utility in the OB or OS ranges for good statistical reasons.
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