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Strategies & Market Trends : Technical Analysis - Beginners

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To: Richard Estes who wrote (10348)	5/27/1999 11:21:00 AM
From: TA2K	Read Replies (1) of 12039

Tentative Overview of 'The Game'.... Interesting quote from Chande's The New Technical Trader, page 8: Regarding the following indicators.... Momentum Stochastics Chande Momentum Oscillator Wilder's Average Directional Index Wilder's Relative Strength Index Says Chande, "Using all these indicators together does *not* yield additional information." This leads me to believe that there exists a finite and relatively *small* number of indicators that a trader need master to be successful. Those few eventually selected should be as 'orthogonal' to each other as possible, yielding the highest multiple linear regression 'r-squared' possible, pointing stock price in the direction desired. The challenge, thus, is to define that small set of indicators. Once one does that, the mission is then to read and interpret that small set. Finally, one must then execute based on the signals from that collective small set, with some 'trade management risk control' carefully melded in. Comments?

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