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Strategies & Market Trends : Technical Analysis - Beginners

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To: bdog who wrote (7863)1/17/1998 10:45:00 PM
From: Loren  Read Replies (2) of 12039
 
bdog -

If Larry Williams says that TA doesn't work 'very often', I'd have to say that he must have unreasonably high expectations...

How much is 'not often'? 1 out of 2 trades? 1 out of 3 trades?

My success rate is only just over 1 out of 2 trades, but my system netted me almost 30% between early August and now. During the same period, the market went sideways or down.

Listen, maybe Larry Williams has the patience to wait years on a stock, but I don't! Years ago when I was going through my buy-and-hold phase, I quickly tired of buying and holding technology stocks that went down despite the fact that they were doubling every year! And I got tired of letting my money sit and sit in a stock while it went sideways.

Now, I let TA pick my stocks... give me TA over fundamentals and buy-and-hold any day!

Loren
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