Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (32691)	6/19/1999 8:24:00 AM
From: JohnG	Read Replies (1) \| Respond to of 152472

Marginmike--TA is tactical, not strategic. If you choose the wrong war, TA will hardly help. If you chose the right war, TA is barely needed. It has its uses, but for those who learn how to make success come to them, it is barely useful. John G

To: marginmike who wrote (32691)	6/19/1999 8:28:00 AM
From: JohnG	Respond to of 152472

MarginMike--TA--And, if you let your mind focus on TA, it becomes a sickness that can prevent you from seeing that which is truly important. John G

To: marginmike who wrote (32691)	6/20/1999 3:26:00 AM
From: Teresa Lo	Read Replies (1) \| Respond to of 152472

Seems to me many people use TA as a prediction tool, which IMHO opinion, is not possible. TA tells you where it has been but it cannot tell you where it is going. However, knowing where it has been is extremely helpful. Where did it get stuck before? Where might be buyers? Where might be sellers? Where might people be trapped? And when the price gets to those places, you watch to see who wins and then join in. As for breakouts, I think it's best to let it do it and prove to you that the money is there, and buy the first pullback. I never buy or sell in anticipation of a break - because that would be like making a prediction. (One exception is trading futures where you can see where the stops are, and when the floor boys go on a seek and destroy mission, you can join in, like a cleaner fish latched onto the big shark - get fed and protected at the same time.) However, if something does break, then you can use Average Directional Index (ADX) or Average True Range (ATR) to help visualize the fact that the trading range is being expanded to one side, and then on the first retracement, take a position in the same direction of the break. Make the market show you the money.