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Pastimes : Learning To Invest Correctly - A Shared Experience
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To: Phil(bullrider) who wrote (56)7/25/1998 3:08:00 PM
From: Mama Bear  Read Replies (1) of 253
 
bullrider, I can respect your opinion of TA. Most folks make it much harder than it actually is. It is nothing more than a study of the psychology of the people who have traded. To say the past predicts the future is untrue, but those who disregard the past are also making a mistake, IMO. It is a fact that people who hold a stock that has fallen heavily will react differently than people who are sitting on a stock that's at an all time high. I use some TA basics for making entry/exit decision, but don't go further than 10, 50 and 200 day exponential moving averages, and volume. EMA'a are just the moving averages with more weight being placed on the current activity. All of the other fancy indicators are just derivatives of these two. I used to use the MACD and stochastics, but I can tell you just by looking at a chart of the price where those two indicators are. Using a technical chart as a tool to predict the future is an incorrect application, IMO. Using it to get a snapshot of the psychology of the traders involved, and to move the odd a little more in your favor is the way that I apply it.

Of course, whatever works for you. Everybody has to find a comfortable niche within their own risk tolerance.

Barb
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