Technical Analysis - Beginners Message Board

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Strategies & Market Trends : Technical Analysis - Beginners

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To: Douglas Schneider who wrote (8838)	10/28/1998 11:40:00 AM
From: Michael Turner	Read Replies (2) of 12039

Like a pit bull, Doug. I have read about 100 of these posts. It really is a great thread. Here's my two cents... Technical analysis is often as effective as flipping a coin. If it is less effective than flipping a coin, then add 1/x into the equation and you have an effective indicator. I look at technicals like planets...Some are larger, some have less gravitational pull, and some have more. When, say, three of five technicals 'agree' with one another, then I have some degree of 'planetary alignment.' If the weights and gravitational pulls of the 'aligned' planets are greater than the 'misaligned' planets, then the trade is positively biased. The weights that you give your different technical tools will determine how accurate your signals are...it is very similar to a genetic algorithm. Cheers, Michael Turner Author DayTrading into the Millennium tradersresource.com

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